{"schema_version":1,"publisher":"Half on a Double","data_through":"2026-10-16","frequency":"end-of-day","methodology":"market-implied-carry-v1","generation":"market-implied-carry-analytics-20260917T000000Z","canonical_url":"https://halfonadouble.com/stock/LUMN","markdown_url":"https://halfonadouble.com/stock/LUMN.md","history_url":"https://halfonadouble.com/api/v1/history/LUMN.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/LUMN.json?date=2026-10-16&public_schema=4","definitions_url":"https://halfonadouble.com/methodology.md","license_url":"https://halfonadouble.com/terms.md","disclaimer_url":"https://halfonadouble.com/disclaimer.md","symbol":"LUMN","page_tier":"A","units":{"prices":"USD per share","open_interest":"option contracts","gamma_exposure":"modeled dollar-delta change per USD 1 underlying move","gamma_exposure_normalized":"modeled gamma exposure per 100,000 open option contracts","distances":"percent of close","forward_outcomes":"close-to-close percent return"},"snapshot":{"close":4.650000095367432,"previous_close":4.869999885559082,"delta_neutral":5.312202480079204,"gamma_neutral":6.102827562918051,"gamma_max":7.80896922537624,"total_open_interest":467873,"previous_open_interest":527172,"listed_contracts":256,"listed_calls":198,"listed_puts":136,"gamma_max_distance_pct":67.93481860690574,"delta_neutral_distance_pct":14.240911207109272,"gamma_neutral_distance_pct":31.24360081192258,"open_interest_change_1d_pct":-11.24851092243139,"call_open_interest":254282,"put_open_interest":213591,"put_call_open_interest_ratio":0.8399768760667291,"nearest_expiration_max_pain":5.5,"nearest_expiration_max_pain_expiry":"2026-10-23","nearest_expiration_max_pain_distance_pct":18.279567466662673,"all_expiration_max_pain":5.5,"net_gamma_exposure":-3780965.8326049224,"net_gamma_exposure_per_100k_open_interest":-808117.9791535144,"gamma_exposure_flip":6.102827562918051,"gamma_exposure_flip_distance_pct":31.24360081192258,"call_wall":7,"call_wall_distance_pct":50.537631321207044,"put_wall":5.5,"put_wall_distance_pct":18.279567466662673,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":null,"open_interest_rank":213},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-16","session_count":1404,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":5.555555555555555,"gamma_max_cross_count":12,"delta_neutral_cross_count":5,"gamma_max_prior_sessions_closer_pct":99.60317460317461,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":68.25396825396825,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":37.301587301587304,"open_interest_change_1d_contracts":-59299,"open_interest_change_z_252":-2.0984921950976294,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":-5.151970353972434,"open_interest_change_21_sessions_pct":-11.524089755566228,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-52316,"put_change_contracts":-6983,"call_growth_pct":-17.063385932067398,"put_growth_pct":-3.16583096829182,"call_minus_put_growth_pp":-13.897554963775578},"five_sessions":{"call_change_contracts":-30685,"put_change_contracts":5271,"call_growth_pct":-10.767913477700928,"put_growth_pct":2.530241935483871,"call_minus_put_growth_pp":-13.298155413184798},"call_change_surprise":{"z_score":-3.1978817892600078,"comparison_sessions":252},"put_change_surprise":{"z_score":-0.47328436053417633,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-3.309601792374956,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-16","analysis_coverage":1,"catalyst_score":67.91425589841671,"directional_score":11.809047248531028,"catalyst_reasons":["smile convexity 16.7 pp","front IV premium 12.5 pp","IV rank 100"],"features":{"price":4.65,"totalOi":532523,"analysisCoverage":1,"avgIvPct":1171.5,"ivRank":100,"iv52wHighPct":1171.5,"iv52wLowPct":113.83,"frontDte":7,"termPremiumPp":12.4924,"riskReversalFrontPp":-8.63,"riskReversal30dPp":-41.73,"butterflyFrontPp":16.74,"butterfly30dPp":10.17,"putCallOiRatio":0.702,"putCallOiFrontRatio":3.941,"putCallVolumeFrontRatio":0.156,"optionVolume":15516,"volumeOiRatio":0.029137,"netDeltaNormalized":-0.03179,"dealerDeltaNormalized":0.031526,"gexPer100kOi":-16763.613966,"vannaPer100kOi":2491.535577,"charmPer100kOi":223872.771692,"weekendDeltaShiftPer100kOi":671618.315077,"ivSurfaceRangePp":81.2,"gammaFlipDistancePct":null,"maxPainDistancePct":18.27957,"peakCallDistancePct":7.526882,"peakPutDistancePct":18.27957},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/LUMN.json?date=2026-10-16&public_schema=4","interpretation":"Catalyst intensity ranks unusual option pricing and activity; it does not identify the event, predict direction or recommend a trade. Directional score summarizes relative positioning under documented model conventions."},"gamma_max_cross_outcomes":[{"direction":"above","event_count":20,"completed_path_count":20,"latest_cross_date":"2026-09-03","horizons":[{"sessions":1,"sample_size":20,"median_return_pct":-1.7196496987532173,"p25_return_pct":-3.3410815930897537,"p75_return_pct":1.8027754623881953,"above_zero_pct":45,"median_interval_low_pct":-3.1468517710698696,"median_interval_high_pct":1.1200027465820384,"median_interval_nominal_coverage_pct":95.86105346679688,"confidence_floor_pct":0},{"sessions":3,"sample_size":20,"median_return_pct":-1.975831916784665,"p25_return_pct":-7.355263209829763,"p75_return_pct":3.8107455321271075,"above_zero_pct":35,"median_interval_low_pct":-7.299267967959722,"median_interval_high_pct":3.698333794725439,"median_interval_nominal_coverage_pct":95.86105346679688,"confidence_floor_pct":0},{"sessions":5,"sample_size":20,"median_return_pct":-1.4618333618472035,"p25_return_pct":-8.56448369504106,"p75_return_pct":0.45903949138361155,"above_zero_pct":40,"median_interval_low_pct":-8.501839898945573,"median_interval_high_pct":0.43415644675570686,"median_interval_nominal_coverage_pct":95.86105346679688,"confidence_floor_pct":0},{"sessions":10,"sample_size":20,"median_return_pct":-2.323623129915242,"p25_return_pct":-14.892996664902128,"p75_return_pct":5.974427278405392,"above_zero_pct":50,"median_interval_low_pct":-13.91363750336303,"median_interval_high_pct":5.512569501090003,"median_interval_nominal_coverage_pct":95.86105346679688,"confidence_floor_pct":0}]},{"direction":"below","event_count":20,"completed_path_count":20,"latest_cross_date":"2026-09-04","horizons":[{"sessions":1,"sample_size":20,"median_return_pct":-0.35209601511487776,"p25_return_pct":-2.619622776425107,"p75_return_pct":1.2406540098565344,"above_zero_pct":45,"median_interval_low_pct":-2.4137989434275475,"median_interval_high_pct":0.7001216073897476,"median_interval_nominal_coverage_pct":95.86105346679688,"confidence_floor_pct":0},{"sessions":3,"sample_size":20,"median_return_pct":0.5130483527425511,"p25_return_pct":-4.138861646299577,"p75_return_pct":3.301435981248418,"above_zero_pct":55.00000000000001,"median_interval_low_pct":-3.5264490484876565,"median_interval_high_pct":3.204175132125142,"median_interval_nominal_coverage_pct":95.86105346679688,"confidence_floor_pct":0},{"sessions":5,"sample_size":20,"median_return_pct":1.0159119655530402,"p25_return_pct":-5.753649641529071,"p75_return_pct":2.480266336683684,"above_zero_pct":55.00000000000001,"median_interval_low_pct":-5.640341373645441,"median_interval_high_pct":2.3346374613485876,"median_interval_nominal_coverage_pct":95.86105346679688,"confidence_floor_pct":0},{"sessions":10,"sample_size":20,"median_return_pct":-5.237033413529146,"p25_return_pct":-9.219253477565987,"p75_return_pct":3.236933245356127,"above_zero_pct":30,"median_interval_low_pct":-7.431983465425995,"median_interval_high_pct":2.974629427034503,"median_interval_nominal_coverage_pct":95.86105346679688,"confidence_floor_pct":0}]}],"missing_value_semantics":"null means unavailable; it never means zero","interpretation":"These are descriptive end-of-day model outputs. Signed GEX uses the published call-positive, put-negative convention and is not observed dealer inventory. None of the fields are live prices, predictions or investment advice."}