# ERAS: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 13.39 |
| Delta neutral (USD/share) | 10.19 |
| Gamma neutral (USD/share) | 6.15 |
| Gamma max (USD/share) | 14.96 |
| Open interest (contracts) | 155,670 |
| Nearest-expiration max pain (USD/share) | 15.00 (2026-11-20) |
| All-expiration max pain (USD/share) | 10.00 |
| Net gamma exposure | 5,322,206 |
| Confirmed GEX flip (USD/share) | 6.15 |
| Call wall (USD/share) | 17.50 |
| Put wall (USD/share) | 15.00 |
| Put/call open-interest ratio | 0.23 |
| Options catalyst-intensity score (0–100) | 47.8 |
| Options directional score (-100 to +100) | 33.8 |
| IV rank | 100.0 |
| Front-minus-back IV | – pp |
| Front 25-delta risk reversal | -8.8 pp |
| Call OI change, 1 session | -22,650 contracts · -15.2% |
| Put OI change, 1 session | -5,386 contracts · -15.6% |
| Call minus put OI growth, 1 session | +0.5 pp |
| Call OI change, 5 sessions | -21,736 contracts · -14.7% |
| Put OI change, 5 sessions | -5,243 contracts · -15.3% |
| Call minus put OI growth, 5 sessions | +0.6 pp |
| Daily call OI change surprise | -4.68σ (224 prior changes) |
| Daily put OI change surprise | -3.12σ (224 prior changes) |
| Daily call-minus-put growth surprise | — (194 prior changes) |
| Daily open interest change (contracts) | -28,036 |
| Daily open interest change z-score (prior 252) | -4.39σ (252 prior changes) |
| Gamma max distance from close | +11.8% |
| Delta neutral distance from close | -23.9% |
| Prior-year sessions closer to gamma max | 43.6% of 195 |
| Prior-year sessions closer to delta neutral | 17.4% of 195 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 8 | -2.5% | -4.2% to -0.9% | 25% | -7.2% to +3.1% | 0.0% |
| above | Day +3 | 8 | -0.6% | -6.4% to +7.3% | 50% | -7.9% to +7.5% | 0.0% |
| above | Day +5 | 8 | +0.2% | -3.5% to +4.3% | 50% | -6.9% to +10.6% | 0.0% |
| above | Day +10 | 8 | +5.2% | -5.6% to +10.3% | 75% | -31.8% to +11.0% | 0.0% |
| below | Day +1 | 8 | +0.4% | -2.0% to +2.9% | 50% | -6.2% to +6.2% | 0.0% |
| below | Day +3 | 8 | +0.9% | -4.6% to +2.5% | 50% | -6.6% to +2.6% | 0.0% |
| below | Day +5 | 8 | -4.4% | -15.9% to +5.1% | 38% | -19.9% to +9.5% | 0.0% |
| below | Day +10 | 8 | +1.6% | -18.2% to +13.5% | 50% | -24.1% to +14.0% | 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/ERAS.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/ERAS.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/ERAS.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).