# NCLH: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 15.05 |
| Delta neutral (USD/share) | 17.06 |
| Gamma neutral (USD/share) | 16.79 |
| Gamma max (USD/share) | 24.10 |
| Open interest (contracts) | 555,577 |
| Nearest-expiration max pain (USD/share) | 15.00 (2026-10-23) |
| All-expiration max pain (USD/share) | 17.00 |
| Net gamma exposure | -7,650,727 |
| Confirmed GEX flip (USD/share) | 16.79 |
| Call wall (USD/share) | 15.00 |
| Put wall (USD/share) | 15.00 |
| Put/call open-interest ratio | 0.94 |
| Options catalyst-intensity score (0–100) | 57.7 |
| Options directional score (-100 to +100) | 1.9 |
| IV rank | 99.8 |
| Front-minus-back IV | 2.7 pp |
| Front 25-delta risk reversal | -3.7 pp |
| Call OI change, 1 session | -36,925 contracts · -11.4% |
| Put OI change, 1 session | -12,343 contracts · -4.4% |
| Call minus put OI growth, 1 session | -7.0 pp |
| Call OI change, 5 sessions | -21,917 contracts · -7.1% |
| Put OI change, 5 sessions | -63 contracts · -0.0% |
| Call minus put OI growth, 5 sessions | -7.1 pp |
| Daily call OI change surprise | -1.83σ (252 prior changes) |
| Daily put OI change surprise | -0.83σ (252 prior changes) |
| Daily call-minus-put growth surprise | -2.02σ (252 prior changes) |
| Daily open interest change (contracts) | -49,268 |
| Daily open interest change z-score (prior 252) | -1.46σ (252 prior changes) |
| Gamma max distance from close | +60.1% |
| Delta neutral distance from close | +13.4% |
| Prior-year sessions closer to gamma max | 98.4% of 252 |
| Prior-year sessions closer to delta neutral | 91.7% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 27 | -1.0% | -2.4% to +0.8% | 33% | -2.2% to +0.2% | 0.0% |
| above | Day +3 | 27 | -1.7% | -4.9% to +0.5% | 30% | -4.5% to -0.1% | -0.1% |
| above | Day +5 | 27 | -0.8% | -4.8% to +4.1% | 48% | -4.1% to +3.4% | 0.0% |
| above | Day +10 | 27 | -4.7% | -8.7% to +3.1% | 44% | -7.9% to +1.5% | 0.0% |
| below | Day +1 | 27 | +0.0% | -0.9% to +1.7% | 52% | -0.8% to +1.3% | 0.0% |
| below | Day +3 | 27 | -0.4% | -2.4% to +3.2% | 48% | -1.7% to +3.0% | 0.0% |
| below | Day +5 | 27 | -1.2% | -3.7% to +4.6% | 48% | -2.4% to +3.8% | 0.0% |
| below | Day +10 | 27 | -1.1% | -7.9% to +5.0% | 41% | -6.3% to +4.6% | 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/NCLH.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/NCLH.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/NCLH.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).