# PM: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 205.20 |
| Delta neutral (USD/share) | 184.25 |
| Gamma neutral (USD/share) | 182.17 |
| Gamma max (USD/share) | 211.02 |
| Open interest (contracts) | 134,425 |
| Nearest-expiration max pain (USD/share) | 195.00 (2026-10-23) |
| All-expiration max pain (USD/share) | 182.50 |
| Net gamma exposure | 10,277,484 |
| Confirmed GEX flip (USD/share) | 182.17 |
| Call wall (USD/share) | 210.00 |
| Put wall (USD/share) | 190.00 |
| Put/call open-interest ratio | 0.93 |
| Options catalyst-intensity score (0–100) | 53.8 |
| Options directional score (-100 to +100) | -5.4 |
| IV rank | 95.0 |
| Front-minus-back IV | 16.2 pp |
| Front 25-delta risk reversal | -1.0 pp |
| Call OI change, 1 session | -8,513 contracts · -10.9% |
| Put OI change, 1 session | -11,377 contracts · -14.9% |
| Call minus put OI growth, 1 session | +4.0 pp |
| Call OI change, 5 sessions | -1,943 contracts · -2.7% |
| Put OI change, 5 sessions | -5,753 contracts · -8.1% |
| Call minus put OI growth, 5 sessions | +5.4 pp |
| Daily call OI change surprise | -1.88σ (252 prior changes) |
| Daily put OI change surprise | -2.21σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.58σ (252 prior changes) |
| Daily open interest change (contracts) | -19,890 |
| Daily open interest change z-score (prior 252) | -2.11σ (252 prior changes) |
| Gamma max distance from close | +2.8% |
| Delta neutral distance from close | -10.2% |
| Prior-year sessions closer to gamma max | 13.1% of 252 |
| Prior-year sessions closer to delta neutral | 99.2% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 38 | +0.1% | -0.9% to +0.6% | 50% | -0.5% to +0.4% | 0.0% |
| above | Day +3 | 38 | +0.0% | -0.8% to +1.5% | 50% | -0.3% to +0.5% | 0.0% |
| above | Day +5 | 38 | +0.3% | -0.4% to +2.1% | 55% | -0.2% to +1.3% | 0.0% |
| above | Day +10 | 38 | -0.1% | -2.2% to +3.7% | 45% | -1.3% to +0.7% | 0.0% |
| below | Day +1 | 37 | +0.3% | -0.5% to +0.9% | 68% | +0.1% to +0.7% | +0.1% |
| below | Day +3 | 37 | +0.5% | -0.1% to +1.6% | 70% | +0.2% to +1.1% | +0.2% |
| below | Day +5 | 37 | +0.6% | -0.4% to +1.6% | 62% | -0.2% to +0.9% | 0.0% |
| below | Day +10 | 37 | -0.7% | -3.4% to +2.1% | 46% | -2.5% to +0.8% | 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/PM.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/PM.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/PM.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).