{"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/QBTS","markdown_url":"https://halfonadouble.com/stock/QBTS.md","history_url":"https://halfonadouble.com/api/v1/history/QBTS.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/QBTS.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":"QBTS","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":11.779999732971191,"previous_close":12.8149995803833,"delta_neutral":13.300431848536693,"gamma_neutral":11.047459512022307,"gamma_max":17.537724586043716,"total_open_interest":575267,"previous_open_interest":648629,"listed_contracts":537,"listed_calls":325,"listed_puts":254,"gamma_max_distance_pct":48.87712210177013,"delta_neutral_distance_pct":12.906894312653886,"gamma_neutral_distance_pct":-6.21850795886326,"open_interest_change_1d_pct":-11.310317608370887,"call_open_interest":330899,"put_open_interest":244368,"put_call_open_interest_ratio":0.7384972453830323,"nearest_expiration_max_pain":12.5,"nearest_expiration_max_pain_expiry":"2026-10-23","nearest_expiration_max_pain_distance_pct":6.112056734717834,"all_expiration_max_pain":15,"net_gamma_exposure":1832955.34298546,"net_gamma_exposure_per_100k_open_interest":318626.88855530735,"gamma_exposure_flip":11.047459512022307,"gamma_exposure_flip_distance_pct":-6.21850795886326,"call_wall":15,"call_wall_distance_pct":27.3344680816614,"put_wall":12,"put_wall_distance_pct":1.867574465329121,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":null,"open_interest_rank":171},"history_summary":{"first_date":"2022-08-17","last_date":"2026-10-16","session_count":786,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":1.984126984126984,"gamma_max_cross_count":8,"delta_neutral_cross_count":29,"gamma_max_prior_sessions_closer_pct":98.01587301587301,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":69.84126984126983,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":52.77777777777778,"open_interest_change_1d_contracts":-73362,"open_interest_change_z_252":-1.7172164978625126,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":-2.7075342141402663,"open_interest_change_21_sessions_pct":-12.868961213633995,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-50014,"put_change_contracts":-23348,"call_growth_pct":-13.130032317090778,"put_growth_pct":-8.72118214824665,"call_minus_put_growth_pp":-4.408850168844129},"five_sessions":{"call_change_contracts":2730,"put_change_contracts":-18739,"call_growth_pct":0.8318884477205342,"put_growth_pct":-7.122197432983539,"call_minus_put_growth_pp":7.954085880704072},"call_change_surprise":{"z_score":-1.9229243781937375,"comparison_sessions":252},"put_change_surprise":{"z_score":-1.3008027908090631,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-1.5146119794510116,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-16","analysis_coverage":1,"catalyst_score":62.18008451538559,"directional_score":11.519143570067891,"catalyst_reasons":["IV rank 100"],"features":{"price":11.78,"totalOi":695976,"analysisCoverage":1,"avgIvPct":696.6,"ivRank":100,"iv52wHighPct":696.6,"iv52wLowPct":98.38,"frontDte":7,"termPremiumPp":5.3195,"riskReversalFrontPp":-4.57,"riskReversal30dPp":-43.76,"butterflyFrontPp":2.93,"butterfly30dPp":-15.03,"putCallOiRatio":0.67,"putCallOiFrontRatio":0.205,"putCallVolumeFrontRatio":0.638,"optionVolume":43325,"volumeOiRatio":0.062251,"netDeltaNormalized":-0.043033,"dealerDeltaNormalized":0.042561,"gexPer100kOi":34167.787395,"vannaPer100kOi":2651.384531,"charmPer100kOi":-1320026.55264,"weekendDeltaShiftPer100kOi":-3960079.514236,"ivSurfaceRangePp":115.2,"gammaFlipDistancePct":149.575552,"maxPainDistancePct":27.334465,"peakCallDistancePct":35.82343,"peakPutDistancePct":1.867572},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/QBTS.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":23,"completed_path_count":23,"latest_cross_date":"2025-12-22","horizons":[{"sessions":1,"sample_size":23,"median_return_pct":0.101012416840085,"p25_return_pct":-2.6304373178255402,"p75_return_pct":5.282410631415313,"above_zero_pct":52.17391304347826,"median_interval_low_pct":-1.894450189647623,"median_interval_high_pct":5.056181731752041,"median_interval_nominal_coverage_pct":90.68603515625,"confidence_floor_pct":0},{"sessions":3,"sample_size":23,"median_return_pct":-1.4423063697193705,"p25_return_pct":-14.934345548267968,"p75_return_pct":0.7766987831614114,"above_zero_pct":39.130434782608695,"median_interval_low_pct":-8.575881695212628,"median_interval_high_pct":0.1632525121384676,"median_interval_nominal_coverage_pct":90.68603515625,"confidence_floor_pct":0},{"sessions":5,"sample_size":23,"median_return_pct":-2.610511701879481,"p25_return_pct":-7.236438325320599,"p75_return_pct":4.635533311817463,"above_zero_pct":34.78260869565217,"median_interval_low_pct":-6.730763058690403,"median_interval_high_pct":0.18773897061894473,"median_interval_nominal_coverage_pct":90.68603515625,"confidence_floor_pct":0},{"sessions":10,"sample_size":23,"median_return_pct":-6.182037740499846,"p25_return_pct":-13.218725947403971,"p75_return_pct":13.376212783735975,"above_zero_pct":39.130434782608695,"median_interval_low_pct":-12.5611748289724,"median_interval_high_pct":3.4246574447668987,"median_interval_nominal_coverage_pct":90.68603515625,"confidence_floor_pct":0}]},{"direction":"below","event_count":21,"completed_path_count":21,"latest_cross_date":"2026-04-15","horizons":[{"sessions":1,"sample_size":21,"median_return_pct":-1.8099529937821268,"p25_return_pct":-4.350186316541493,"p75_return_pct":0.09327681864219617,"above_zero_pct":28.57142857142857,"median_interval_low_pct":-4.073033237559609,"median_interval_high_pct":-0.1786818642622201,"median_interval_nominal_coverage_pct":92.16461181640625,"confidence_floor_pct":-0.1786818642622201},{"sessions":3,"sample_size":21,"median_return_pct":-2.0462928749554132,"p25_return_pct":-5.882358017962741,"p75_return_pct":4.084576661622874,"above_zero_pct":38.095238095238095,"median_interval_low_pct":-4.3960373415431135,"median_interval_high_pct":3.1250006652304263,"median_interval_nominal_coverage_pct":92.16461181640625,"confidence_floor_pct":0},{"sessions":5,"sample_size":21,"median_return_pct":-0.44642461172362813,"p25_return_pct":-9.474115085924229,"p75_return_pct":2.688171987878696,"above_zero_pct":38.095238095238095,"median_interval_low_pct":-8.178217653503218,"median_interval_high_pct":2.06631579149974,"median_interval_nominal_coverage_pct":92.16461181640625,"confidence_floor_pct":0},{"sessions":10,"sample_size":21,"median_return_pct":-2.683165075124283,"p25_return_pct":-12.253720819329539,"p75_return_pct":12.50743513765402,"above_zero_pct":42.857142857142854,"median_interval_low_pct":-11.764705247754648,"median_interval_high_pct":8.714921037668088,"median_interval_nominal_coverage_pct":92.16461181640625,"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."}