{"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/VOO","markdown_url":"https://halfonadouble.com/stock/VOO.md","history_url":"https://halfonadouble.com/api/v1/history/VOO.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/VOO.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":"VOO","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":701.6099853515625,"previous_close":709.4299926757812,"delta_neutral":669.4467669514161,"gamma_neutral":693.076803199473,"gamma_max":723.9228301833116,"total_open_interest":108925,"previous_open_interest":126954,"listed_contracts":1520,"listed_calls":943,"listed_puts":771,"gamma_max_distance_pct":3.1802347882162163,"delta_neutral_distance_pct":-4.58420191725608,"gamma_neutral_distance_pct":-1.2162287211197063,"open_interest_change_1d_pct":-14.201206736298186,"call_open_interest":57600,"put_open_interest":51325,"put_call_open_interest_ratio":0.8910590277777778,"nearest_expiration_max_pain":702.5,"nearest_expiration_max_pain_expiry":"2026-10-23","nearest_expiration_max_pain_distance_pct":0.1268531900941421,"all_expiration_max_pain":660,"net_gamma_exposure":4562913.504834053,"net_gamma_exposure_per_100k_open_interest":4189041.546783616,"gamma_exposure_flip":693.076803199473,"gamma_exposure_flip_distance_pct":-1.2162287211197063,"call_wall":710,"call_wall_distance_pct":1.1958231529777095,"put_wall":700,"put_wall_distance_pct":-0.22947013086704704,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":null,"open_interest_rank":583},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-16","session_count":1403,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":5.158730158730158,"gamma_max_cross_count":12,"delta_neutral_cross_count":2,"gamma_max_prior_sessions_closer_pct":84.12698412698413,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":14.285714285714285,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":90.07936507936508,"open_interest_change_1d_contracts":-18029,"open_interest_change_z_252":-2.9669757262217615,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":-8.785254907215114,"open_interest_change_21_sessions_pct":7.434878238827464,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-10693,"put_change_contracts":-7336,"call_growth_pct":-15.657534447161495,"put_growth_pct":-12.505753396634903,"call_minus_put_growth_pp":-3.1517810505265924},"five_sessions":{"call_change_contracts":-7370,"put_change_contracts":-3121,"call_growth_pct":-11.34369709096506,"put_growth_pct":-5.732285200014693,"call_minus_put_growth_pp":-5.611411890950367},"call_change_surprise":{"z_score":-3.022042818336034,"comparison_sessions":252},"put_change_surprise":{"z_score":-2.656405984398012,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-0.8624154843273061,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-16","analysis_coverage":1,"catalyst_score":50.912030927472806,"directional_score":-22.115317539105483,"catalyst_reasons":["smile convexity 9.7 pp","volume/OI 0.08"],"features":{"price":701.61,"totalOi":127782,"analysisCoverage":1,"avgIvPct":104.8,"ivRank":70.7,"iv52wHighPct":138.9,"iv52wLowPct":22.6,"frontDte":7,"termPremiumPp":2.1182,"riskReversalFrontPp":6.36,"riskReversal30dPp":3.02,"butterflyFrontPp":9.73,"butterfly30dPp":1.04,"putCallOiRatio":0.859,"putCallOiFrontRatio":0.314,"putCallVolumeFrontRatio":0.693,"optionVolume":9616,"volumeOiRatio":0.075253,"netDeltaNormalized":0.146951,"dealerDeltaNormalized":-0.141136,"gexPer100kOi":-38429113.529292,"vannaPer100kOi":3149.895916,"charmPer100kOi":864923.072107,"weekendDeltaShiftPer100kOi":2594769.998904,"ivSurfaceRangePp":130.3,"gammaFlipDistancePct":null,"maxPainDistancePct":-5.930645,"peakCallDistancePct":2.621114,"peakPutDistancePct":-0.229472},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/VOO.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":17,"completed_path_count":17,"latest_cross_date":"2026-09-02","horizons":[{"sessions":1,"sample_size":17,"median_return_pct":0.2123772178737493,"p25_return_pct":-0.07087129583416285,"p75_return_pct":0.441981769157751,"above_zero_pct":70.58823529411765,"median_interval_low_pct":-0.07087129583416285,"median_interval_high_pct":0.441981769157751,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":3,"sample_size":17,"median_return_pct":0.5701645613164885,"p25_return_pct":-0.015247155932340828,"p75_return_pct":0.7378457853603582,"above_zero_pct":70.58823529411765,"median_interval_low_pct":-0.015247155932340828,"median_interval_high_pct":0.7378457853603582,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":5,"sample_size":17,"median_return_pct":0.25028348518334465,"p25_return_pct":-0.3476930742782214,"p75_return_pct":1.422341013301387,"above_zero_pct":70.58823529411765,"median_interval_low_pct":-0.3476930742782214,"median_interval_high_pct":1.422341013301387,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":10,"sample_size":17,"median_return_pct":1.2637141518299755,"p25_return_pct":0.2955412352866116,"p75_return_pct":1.924588730043153,"above_zero_pct":76.47058823529412,"median_interval_low_pct":0.2955412352866116,"median_interval_high_pct":1.924588730043153,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0.2955412352866116}]},{"direction":"below","event_count":17,"completed_path_count":17,"latest_cross_date":"2026-09-03","horizons":[{"sessions":1,"sample_size":17,"median_return_pct":0.08182783835666285,"p25_return_pct":-0.3686655100386793,"p75_return_pct":0.2970982130285016,"above_zero_pct":52.94117647058824,"median_interval_low_pct":-0.3686655100386793,"median_interval_high_pct":0.2970982130285016,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":3,"sample_size":17,"median_return_pct":0.6210558735984195,"p25_return_pct":-0.16728482402685874,"p75_return_pct":1.1095502043511507,"above_zero_pct":64.70588235294117,"median_interval_low_pct":-0.16728482402685874,"median_interval_high_pct":1.1095502043511507,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":5,"sample_size":17,"median_return_pct":0.48021113310297014,"p25_return_pct":-0.8384528515113066,"p75_return_pct":0.8799710517693127,"above_zero_pct":58.82352941176471,"median_interval_low_pct":-0.8384528515113066,"median_interval_high_pct":0.8799710517693127,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":10,"sample_size":17,"median_return_pct":1.2077237043171207,"p25_return_pct":-0.44913750040093126,"p75_return_pct":1.4375486842127527,"above_zero_pct":70.58823529411765,"median_interval_low_pct":-0.44913750040093126,"median_interval_high_pct":1.4375486842127527,"median_interval_nominal_coverage_pct":95.0958251953125,"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."}