# APA: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/APA
Data through: 2026-10-16 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 49.15 |
| Delta neutral (USD/share) | 38.97 |
| Gamma neutral (USD/share) | 35.45 |
| Gamma max (USD/share) | 49.67 |
| Open interest (contracts) | 164,603 |
| Nearest-expiration max pain (USD/share) | 46.00 (2026-10-23) |
| All-expiration max pain (USD/share) | 25.00 |
| Net gamma exposure | 5,356,906 |
| Confirmed GEX flip (USD/share) | 35.45 |
| Call wall (USD/share) | 50.00 |
| Put wall (USD/share) | 40.00 |
| Put/call open-interest ratio | 0.46 |
| Options catalyst-intensity score (0–100) | 54.9 |
| Options directional score (-100 to +100) | -3.4 |
| IV rank | 96.7 |
| Front-minus-back IV | 1.1 pp |
| Front 25-delta risk reversal | 8.6 pp |
| Call OI change, 1 session | -24,638 contracts · -18.0% |
| Put OI change, 1 session | -11,931 contracts · -18.6% |
| Call minus put OI growth, 1 session | +0.7 pp |
| Call OI change, 5 sessions | -18,719 contracts · -14.3% |
| Put OI change, 5 sessions | -8,899 contracts · -14.6% |
| Call minus put OI growth, 5 sessions | +0.3 pp |
| Daily call OI change surprise | -2.96σ (252 prior changes) |
| Daily put OI change surprise | -2.27σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.16σ (252 prior changes) |
| Daily open interest change (contracts) | -36,569 |
| Daily open interest change z-score (prior 252) | -2.90σ (252 prior changes) |
| Gamma max distance from close | +1.1% |
| Delta neutral distance from close | -20.7% |
| Prior-year sessions closer to gamma max | 7.9% of 252 |
| Prior-year sessions closer to delta neutral | 89.3% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 52 | +0.2% | -0.9% to +1.7% | 52% | -0.5% to +0.9% | 0.0% |
| above | Day +3 | 52 | +0.2% | -4.1% to +2.8% | 52% | -1.9% to +1.1% | 0.0% |
| above | Day +5 | 52 | -1.0% | -5.0% to +3.1% | 44% | -2.3% to +0.9% | 0.0% |
| above | Day +10 | 51 | +0.8% | -6.4% to +4.9% | 53% | -1.6% to +2.9% | 0.0% |
| below | Day +1 | 49 | -0.7% | -2.4% to +2.2% | 43% | -1.3% to +0.5% | 0.0% |
| below | Day +3 | 49 | -0.6% | -4.2% to +2.5% | 43% | -2.7% to +0.9% | 0.0% |
| below | Day +5 | 49 | -0.1% | -3.7% to +2.7% | 47% | -1.8% to +1.1% | 0.0% |
| below | Day +10 | 49 | -0.4% | -5.0% to +6.6% | 49% | -2.1% to +3.4% | 0.0% |

Returns are close-to-close after the labelled number of subsequent trading sessions. Cohorts require gamma max to be within 10% of the close on both crossing sessions. Historical windows can overlap and are not independent observations, so interval coverage is not guaranteed.

- [Machine-readable snapshot](https://halfonadouble.com/api/v1/tickers/APA.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/APA.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/APA.json?date=2026-10-16&public_schema=4)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).