# ZS: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 207.38 |
| Delta neutral (USD/share) | 189.86 |
| Gamma neutral (USD/share) | 188.34 |
| Gamma max (USD/share) | 249.24 |
| Open interest (contracts) | 197,209 |
| Nearest-expiration max pain (USD/share) | 220.00 (2026-10-23) |
| All-expiration max pain (USD/share) | 185.00 |
| Net gamma exposure | 1,950,978 |
| Confirmed GEX flip (USD/share) | 188.34 |
| Call wall (USD/share) | 220.00 |
| Put wall (USD/share) | 200.00 |
| Put/call open-interest ratio | 0.87 |
| Options catalyst-intensity score (0–100) | 33.5 |
| Options directional score (-100 to +100) | -13.0 |
| IV rank | 49.3 |
| Front-minus-back IV | -0.6 pp |
| Front 25-delta risk reversal | 3.5 pp |
| Call OI change, 1 session | -18,272 contracts · -14.8% |
| Put OI change, 1 session | -10,934 contracts · -10.6% |
| Call minus put OI growth, 1 session | -4.1 pp |
| Call OI change, 5 sessions | -8,609 contracts · -7.6% |
| Put OI change, 5 sessions | +282 contracts · +0.3% |
| Call minus put OI growth, 5 sessions | -7.9 pp |
| Daily call OI change surprise | -2.24σ (252 prior changes) |
| Daily put OI change surprise | -2.07σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.33σ (252 prior changes) |
| Daily open interest change (contracts) | -29,206 |
| Daily open interest change z-score (prior 252) | -2.24σ (252 prior changes) |
| Gamma max distance from close | +20.2% |
| Delta neutral distance from close | -8.4% |
| Prior-year sessions closer to gamma max | 67.9% of 252 |
| Prior-year sessions closer to delta neutral | 59.5% 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 | +0.9% | -1.9% to +1.4% | 67% | -1.4% to +1.4% | 0.0% |
| above | Day +3 | 21 | +0.2% | -1.9% to +2.0% | 52% | -1.4% to +1.8% | 0.0% |
| above | Day +5 | 21 | +2.3% | -1.3% to +3.1% | 67% | -0.9% to +3.0% | 0.0% |
| above | Day +10 | 20 | +0.0% | -5.5% to +5.5% | 50% | -5.3% to +5.1% | 0.0% |
| below | Day +1 | 20 | +0.7% | -1.2% to +1.8% | 55% | -1.0% to +1.8% | 0.0% |
| below | Day +3 | 20 | +0.8% | -2.0% to +4.0% | 55% | -1.9% to +4.0% | 0.0% |
| below | Day +5 | 19 | +0.3% | -3.8% to +4.6% | 53% | -3.5% to +4.3% | 0.0% |
| below | Day +10 | 19 | -0.1% | -5.7% to +6.0% | 47% | -4.7% to +5.3% | 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/ZS.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/ZS.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/ZS.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).