# UNG: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 10.66 |
| Delta neutral (USD/share) | 8.86 |
| Gamma neutral (USD/share) | 4.97 |
| Gamma max (USD/share) | 11.38 |
| Open interest (contracts) | 325,285 |
| Nearest-expiration max pain (USD/share) | 10.50 (2026-10-21) |
| All-expiration max pain (USD/share) | 10.00 |
| Net gamma exposure | 17,917,027 |
| Confirmed GEX flip (USD/share) | 4.97 |
| Call wall (USD/share) | 12.00 |
| Put wall (USD/share) | 10.00 |
| Put/call open-interest ratio | 0.31 |
| Options catalyst-intensity score (0–100) | 31.2 |
| Options directional score (-100 to +100) | 31.2 |
| IV rank | 23.2 |
| Front-minus-back IV | -11.9 pp |
| Front 25-delta risk reversal | -8.7 pp |
| Call OI change, 1 session | -123,073 contracts · -33.2% |
| Put OI change, 1 session | -50,219 contracts · -39.3% |
| Call minus put OI growth, 1 session | +6.1 pp |
| Call OI change, 5 sessions | -103,702 contracts · -29.5% |
| Put OI change, 5 sessions | -40,182 contracts · -34.2% |
| Call minus put OI growth, 5 sessions | +4.7 pp |
| Daily call OI change surprise | -6.76σ (252 prior changes) |
| Daily put OI change surprise | -5.09σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.96σ (252 prior changes) |
| Daily open interest change (contracts) | -173,292 |
| Daily open interest change z-score (prior 252) | -6.81σ (252 prior changes) |
| Gamma max distance from close | +6.7% |
| Delta neutral distance from close | -16.9% |
| Prior-year sessions closer to gamma max | 40.9% of 252 |
| Prior-year sessions closer to delta neutral | 91.7% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 29 | +0.7% | -3.4% to +4.1% | 55% | -1.3% to +2.7% | 0.0% |
| above | Day +3 | 29 | -0.8% | -5.6% to +4.6% | 48% | -4.1% to +4.2% | 0.0% |
| above | Day +5 | 29 | +1.9% | -7.3% to +4.6% | 55% | -6.1% to +4.0% | 0.0% |
| above | Day +10 | 29 | -1.6% | -6.9% to +6.0% | 48% | -6.4% to +4.9% | 0.0% |
| below | Day +1 | 26 | +0.1% | -1.6% to +2.9% | 54% | -1.5% to +1.4% | 0.0% |
| below | Day +3 | 26 | +0.1% | -3.8% to +2.8% | 54% | -1.8% to +2.2% | 0.0% |
| below | Day +5 | 26 | +1.2% | -3.0% to +5.4% | 58% | -2.1% to +3.6% | 0.0% |
| below | Day +10 | 26 | +3.1% | -9.6% to +11.6% | 54% | -4.7% to +10.7% | 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/UNG.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/UNG.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/UNG.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).