# XLU: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 42.21 |
| Delta neutral (USD/share) | 40.88 |
| Gamma neutral (USD/share) | 39.48 |
| Gamma max (USD/share) | 42.58 |
| Open interest (contracts) | 2,662,285 |
| Nearest-expiration max pain (USD/share) | 40.50 (2026-10-23) |
| All-expiration max pain (USD/share) | 41.00 |
| Net gamma exposure | 217,289,813 |
| Confirmed GEX flip (USD/share) | 39.48 |
| Call wall (USD/share) | 42.00 |
| Put wall (USD/share) | 40.00 |
| Put/call open-interest ratio | 1.57 |
| Options catalyst-intensity score (0–100) | 36.8 |
| Options directional score (-100 to +100) | -29.6 |
| IV rank | 36.6 |
| Front-minus-back IV | 1.3 pp |
| Front 25-delta risk reversal | 5.2 pp |
| Call OI change, 1 session | -217,593 contracts · -17.4% |
| Put OI change, 1 session | -16,259 contracts · -1.0% |
| Call minus put OI growth, 1 session | -16.4 pp |
| Call OI change, 5 sessions | -175,087 contracts · -14.5% |
| Put OI change, 5 sessions | +21,716 contracts · +1.4% |
| Call minus put OI growth, 5 sessions | -15.8 pp |
| Daily call OI change surprise | -5.07σ (252 prior changes) |
| Daily put OI change surprise | -0.32σ (252 prior changes) |
| Daily call-minus-put growth surprise | -2.60σ (252 prior changes) |
| Daily open interest change (contracts) | -233,852 |
| Daily open interest change z-score (prior 252) | -2.38σ (252 prior changes) |
| Gamma max distance from close | +0.9% |
| Delta neutral distance from close | -3.1% |
| Prior-year sessions closer to gamma max | 3.6% of 252 |
| Prior-year sessions closer to delta neutral | 84.1% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 14 | +0.7% | +0.4% to +0.8% | 79% | +0.4% to +0.8% | +0.4% |
| above | Day +3 | 13 | +0.2% | -0.1% to +1.0% | 69% | -0.1% to +1.0% | 0.0% |
| above | Day +5 | 12 | +1.4% | +0.7% to +1.8% | 83% | +0.5% to +2.0% | +0.5% |
| above | Day +10 | 12 | +0.8% | +0.0% to +2.3% | 75% | -0.2% to +2.9% | 0.0% |
| below | Day +1 | 13 | -0.2% | -0.5% to -0.0% | 15% | -0.5% to -0.0% | -0.0% |
| below | Day +3 | 12 | +0.5% | -0.5% to +1.4% | 50% | -1.0% to +1.7% | 0.0% |
| below | Day +5 | 12 | -0.1% | -1.0% to +1.5% | 50% | -1.3% to +1.5% | 0.0% |
| below | Day +10 | 12 | -0.3% | -1.2% to +2.1% | 42% | -2.0% to +2.7% | 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/XLU.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/XLU.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/XLU.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).