# FRMI: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 3.16 |
| Delta neutral (USD/share) | 3.48 |
| Gamma neutral (USD/share) | 3.16 |
| Gamma max (USD/share) | 5.47 |
| Open interest (contracts) | 735,157 |
| Nearest-expiration max pain (USD/share) | 4.50 (2026-10-23) |
| All-expiration max pain (USD/share) | 5.00 |
| Net gamma exposure | 1,136,332 |
| Call wall (USD/share) | 10.00 |
| Put wall (USD/share) | 3.50 |
| Put/call open-interest ratio | 0.34 |
| Options catalyst-intensity score (0–100) | 28.7 |
| Options directional score (-100 to +100) | 1.9 |
| IV rank | 19.4 |
| Front-minus-back IV | – pp |
| Front 25-delta risk reversal | 6.5 pp |
| Call OI change, 1 session | -25,527 contracts · -4.5% |
| Put OI change, 1 session | -5,931 contracts · -3.1% |
| Call minus put OI growth, 1 session | -1.4 pp |
| Call OI change, 5 sessions | +4,903 contracts · +0.9% |
| Put OI change, 5 sessions | -3,397 contracts · -1.8% |
| Call minus put OI growth, 5 sessions | +2.7 pp |
| Daily call OI change surprise | -0.89σ (252 prior changes) |
| Daily put OI change surprise | -0.54σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.14σ (252 prior changes) |
| Daily open interest change (contracts) | -31,458 |
| Daily open interest change z-score (prior 252) | -0.85σ (252 prior changes) |
| Gamma max distance from close | +73.1% |
| Delta neutral distance from close | +10.1% |
| Prior-year sessions closer to gamma max | 91.7% of 252 |
| Prior-year sessions closer to delta neutral | 29.0% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 5 | +1.0% | -5.4% to +3.7% | 60% | -5.5% to +22.8% | 0.0% |
| above | Day +3 | 5 | -6.8% | -12.6% to +9.2% | 40% | -16.5% to +22.2% | 0.0% |
| above | Day +5 | 5 | -0.8% | -14.2% to +1.3% | 40% | -16.8% to +25.8% | 0.0% |
| above | Day +10 | 5 | +3.0% | -4.7% to +12.5% | 60% | -13.7% to +31.7% | 0.0% |
| below | Day +1 | 7 | -3.1% | -9.6% to +4.5% | 43% | -13.1% to +15.8% | 0.0% |
| below | Day +3 | 7 | -6.9% | -9.0% to -3.5% | 14% | -14.7% to +6.7% | 0.0% |
| below | Day +5 | 7 | -13.3% | -15.1% to -1.0% | 14% | -22.1% to +4.4% | 0.0% |
| below | Day +10 | 7 | -8.1% | -16.0% to -1.0% | 29% | -28.7% to +13.0% | 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/FRMI.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/FRMI.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/FRMI.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).