# NVO: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 38.83 |
| Delta neutral (USD/share) | 40.78 |
| Gamma neutral (USD/share) | 40.26 |
| Gamma max (USD/share) | 54.92 |
| Open interest (contracts) | 1,369,531 |
| Nearest-expiration max pain (USD/share) | 39.00 (2026-10-23) |
| All-expiration max pain (USD/share) | 40.00 |
| Net gamma exposure | -16,294,378 |
| Confirmed GEX flip (USD/share) | 40.26 |
| Call wall (USD/share) | 40.00 |
| Put wall (USD/share) | 40.00 |
| Put/call open-interest ratio | 0.64 |
| Options catalyst-intensity score (0–100) | 36.5 |
| Options directional score (-100 to +100) | 24.8 |
| IV rank | 62.1 |
| Front-minus-back IV | -5.4 pp |
| Front 25-delta risk reversal | -170.9 pp |
| Call OI change, 1 session | -113,115 contracts · -11.9% |
| Put OI change, 1 session | -64,360 contracts · -10.7% |
| Call minus put OI growth, 1 session | -1.2 pp |
| Call OI change, 5 sessions | -97,131 contracts · -10.4% |
| Put OI change, 5 sessions | -51,759 contracts · -8.8% |
| Call minus put OI growth, 5 sessions | -1.6 pp |
| Daily call OI change surprise | -2.95σ (252 prior changes) |
| Daily put OI change surprise | -2.28σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.68σ (252 prior changes) |
| Daily open interest change (contracts) | -177,475 |
| Daily open interest change z-score (prior 252) | -2.72σ (252 prior changes) |
| Gamma max distance from close | +41.4% |
| Delta neutral distance from close | +5.0% |
| Prior-year sessions closer to gamma max | 88.9% of 252 |
| Prior-year sessions closer to delta neutral | 50.8% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 32 | -0.7% | -1.4% to +0.2% | 31% | -1.0% to -0.1% | -0.1% |
| above | Day +3 | 32 | -0.7% | -3.3% to +1.6% | 34% | -2.1% to +0.1% | 0.0% |
| above | Day +5 | 32 | -0.9% | -3.0% to +2.1% | 44% | -2.1% to +1.3% | 0.0% |
| above | Day +10 | 32 | -0.8% | -4.1% to +2.7% | 41% | -3.0% to +1.9% | 0.0% |
| below | Day +1 | 31 | +0.4% | -0.9% to +1.0% | 58% | -0.4% to +0.7% | 0.0% |
| below | Day +3 | 31 | +0.5% | -0.9% to +2.1% | 61% | -0.1% to +1.9% | 0.0% |
| below | Day +5 | 31 | +0.8% | -0.4% to +2.0% | 58% | -0.3% to +1.4% | 0.0% |
| below | Day +10 | 31 | +0.2% | -3.1% to +2.3% | 52% | -2.2% to +1.4% | 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/NVO.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/NVO.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/NVO.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).