# SNAP: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 6.12 |
| Delta neutral (USD/share) | 4.91 |
| Gamma neutral (USD/share) | 2.33 |
| Gamma max (USD/share) | 6.95 |
| Open interest (contracts) | 1,293,208 |
| Nearest-expiration max pain (USD/share) | 6.00 (2026-10-23) |
| All-expiration max pain (USD/share) | 6.00 |
| Net gamma exposure | 39,016,246 |
| Confirmed GEX flip (USD/share) | 2.33 |
| Call wall (USD/share) | 7.00 |
| Put wall (USD/share) | 7.00 |
| Put/call open-interest ratio | 0.31 |
| Options catalyst-intensity score (0–100) | 33.9 |
| Options directional score (-100 to +100) | -9.8 |
| IV rank | 30.2 |
| Front-minus-back IV | -10.0 pp |
| Front 25-delta risk reversal | 88.7 pp |
| Call OI change, 1 session | -103,322 contracts · -9.5% |
| Put OI change, 1 session | -44,643 contracts · -12.6% |
| Call minus put OI growth, 1 session | +3.2 pp |
| Call OI change, 5 sessions | -5,049 contracts · -0.5% |
| Put OI change, 5 sessions | -2,248 contracts · -0.7% |
| Call minus put OI growth, 5 sessions | +0.2 pp |
| Daily call OI change surprise | -1.40σ (252 prior changes) |
| Daily put OI change surprise | -1.66σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.24σ (252 prior changes) |
| Daily open interest change (contracts) | -147,965 |
| Daily open interest change z-score (prior 252) | -1.51σ (252 prior changes) |
| Gamma max distance from close | +13.6% |
| Delta neutral distance from close | -19.8% |
| Prior-year sessions closer to gamma max | 57.5% of 252 |
| Prior-year sessions closer to delta neutral | 96.4% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 21 | +0.6% | -0.2% to +2.0% | 67% | -0.1% to +1.7% | 0.0% |
| above | Day +3 | 21 | +3.1% | -1.9% to +7.6% | 57% | -1.7% to +5.2% | 0.0% |
| above | Day +5 | 21 | +1.7% | -1.3% to +7.9% | 62% | -0.9% to +5.6% | 0.0% |
| above | Day +10 | 20 | +3.1% | -4.3% to +7.5% | 55% | -3.8% to +7.2% | 0.0% |
| below | Day +1 | 25 | +0.6% | -1.9% to +3.6% | 56% | -1.5% to +2.4% | 0.0% |
| below | Day +3 | 24 | +0.6% | -1.9% to +5.3% | 54% | -1.2% to +3.5% | 0.0% |
| below | Day +5 | 24 | +1.0% | -2.6% to +6.5% | 58% | -1.5% to +1.5% | 0.0% |
| below | Day +10 | 24 | +1.1% | -7.6% to +8.6% | 50% | -6.2% to +6.9% | 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/SNAP.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/SNAP.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/SNAP.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).