# T: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 23.43 |
| Delta neutral (USD/share) | 22.89 |
| Gamma neutral (USD/share) | 21.88 |
| Gamma max (USD/share) | 26.56 |
| Open interest (contracts) | 979,300 |
| Nearest-expiration max pain (USD/share) | 23.50 (2026-10-23) |
| All-expiration max pain (USD/share) | 23.50 |
| Net gamma exposure | 30,571,367 |
| Confirmed GEX flip (USD/share) | 21.88 |
| Call wall (USD/share) | 25.00 |
| Put wall (USD/share) | 25.00 |
| Put/call open-interest ratio | 0.62 |
| Options catalyst-intensity score (0–100) | 73.6 |
| Options directional score (-100 to +100) | -21.7 |
| IV rank | 100.0 |
| Front-minus-back IV | 17.3 pp |
| Front 25-delta risk reversal | 54.6 pp |
| Call OI change, 1 session | -127,394 contracts · -17.4% |
| Put OI change, 1 session | -72,005 contracts · -16.2% |
| Call minus put OI growth, 1 session | -1.2 pp |
| Call OI change, 5 sessions | +7,177 contracts · +1.2% |
| Put OI change, 5 sessions | -7,668 contracts · -2.0% |
| Call minus put OI growth, 5 sessions | +3.2 pp |
| Daily call OI change surprise | -3.85σ (252 prior changes) |
| Daily put OI change surprise | -3.07σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.52σ (252 prior changes) |
| Daily open interest change (contracts) | -199,399 |
| Daily open interest change z-score (prior 252) | -3.63σ (252 prior changes) |
| Gamma max distance from close | +13.4% |
| Delta neutral distance from close | -2.3% |
| Prior-year sessions closer to gamma max | 76.6% of 252 |
| Prior-year sessions closer to delta neutral | 39.7% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 28 | +0.2% | -0.4% to +1.0% | 64% | -0.1% to +0.7% | 0.0% |
| above | Day +3 | 28 | -0.2% | -1.3% to +1.1% | 46% | -0.5% to +0.7% | 0.0% |
| above | Day +5 | 28 | +0.0% | -2.0% to +1.8% | 50% | -1.0% to +0.6% | 0.0% |
| above | Day +10 | 28 | -0.9% | -5.4% to +2.6% | 46% | -4.9% to +1.5% | 0.0% |
| below | Day +1 | 29 | -0.1% | -1.0% to +0.7% | 41% | -0.9% to +0.4% | 0.0% |
| below | Day +3 | 29 | -0.3% | -1.9% to +0.8% | 34% | -1.4% to +0.1% | 0.0% |
| below | Day +5 | 29 | -0.5% | -3.4% to +0.7% | 38% | -2.3% to +0.2% | 0.0% |
| below | Day +10 | 29 | -1.4% | -4.5% to +2.6% | 45% | -3.1% 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/T.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/T.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/T.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).