# NEM: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 118.60 |
| Delta neutral (USD/share) | 111.84 |
| Gamma neutral (USD/share) | 113.55 |
| Gamma max (USD/share) | 138.57 |
| Open interest (contracts) | 426,003 |
| Nearest-expiration max pain (USD/share) | 121.00 (2026-10-23) |
| All-expiration max pain (USD/share) | 100.00 |
| Net gamma exposure | 4,596,571 |
| Confirmed GEX flip (USD/share) | 113.55 |
| Call wall (USD/share) | 120.00 |
| Put wall (USD/share) | 115.00 |
| Put/call open-interest ratio | 0.77 |
| Options catalyst-intensity score (0–100) | 59.6 |
| Options directional score (-100 to +100) | 1.3 |
| IV rank | 100.0 |
| Front-minus-back IV | 15.4 pp |
| Front 25-delta risk reversal | 0.5 pp |
| Call OI change, 1 session | -44,319 contracts · -15.6% |
| Put OI change, 1 session | -31,536 contracts · -14.5% |
| Call minus put OI growth, 1 session | -1.0 pp |
| Call OI change, 5 sessions | -36,357 contracts · -13.1% |
| Put OI change, 5 sessions | -28,252 contracts · -13.2% |
| Call minus put OI growth, 5 sessions | +0.1 pp |
| Daily call OI change surprise | -2.34σ (252 prior changes) |
| Daily put OI change surprise | -1.98σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.45σ (252 prior changes) |
| Daily open interest change (contracts) | -75,855 |
| Daily open interest change z-score (prior 252) | -2.22σ (252 prior changes) |
| Gamma max distance from close | +16.8% |
| Delta neutral distance from close | -5.7% |
| Prior-year sessions closer to gamma max | 73.4% of 252 |
| Prior-year sessions closer to delta neutral | 35.3% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 29 | +0.4% | -1.3% to +2.0% | 55% | -0.9% to +1.5% | 0.0% |
| above | Day +3 | 29 | +1.1% | -1.4% to +2.7% | 62% | -0.7% to +2.6% | 0.0% |
| above | Day +5 | 29 | +0.3% | -2.9% to +3.5% | 55% | -2.1% to +3.0% | 0.0% |
| above | Day +10 | 29 | +3.0% | -5.0% to +6.7% | 62% | -1.3% to +6.4% | 0.0% |
| below | Day +1 | 29 | +0.5% | -0.5% to +1.5% | 55% | -0.4% to +0.8% | 0.0% |
| below | Day +3 | 29 | +0.2% | -2.5% to +1.4% | 52% | -1.4% to +0.8% | 0.0% |
| below | Day +5 | 29 | -0.4% | -4.4% to +3.5% | 41% | -2.4% to +3.3% | 0.0% |
| below | Day +10 | 29 | +3.4% | -4.9% to +6.7% | 59% | -2.7% to +5.1% | 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/NEM.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/NEM.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/NEM.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).