# ZTS: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 79.32 |
| Delta neutral (USD/share) | 61.24 |
| Gamma neutral (USD/share) | 62.56 |
| Gamma max (USD/share) | 87.24 |
| Open interest (contracts) | 146,249 |
| Nearest-expiration max pain (USD/share) | 70.00 (2026-11-20) |
| All-expiration max pain (USD/share) | 75.00 |
| Net gamma exposure | 5,182,231 |
| Confirmed GEX flip (USD/share) | 62.56 |
| Call wall (USD/share) | 75.00 |
| Put wall (USD/share) | 75.00 |
| Put/call open-interest ratio | 0.49 |
| Options catalyst-intensity score (0–100) | 54.5 |
| Options directional score (-100 to +100) | 0.8 |
| IV rank | 100.0 |
| Front-minus-back IV | 4.3 pp |
| Front 25-delta risk reversal | 4.4 pp |
| Call OI change, 1 session | -15,685 contracts · -13.7% |
| Put OI change, 1 session | -10,555 contracts · -18.1% |
| Call minus put OI growth, 1 session | +4.3 pp |
| Call OI change, 5 sessions | -14,556 contracts · -12.9% |
| Put OI change, 5 sessions | -8,566 contracts · -15.2% |
| Call minus put OI growth, 5 sessions | +2.3 pp |
| Daily call OI change surprise | -4.40σ (252 prior changes) |
| Daily put OI change surprise | -3.90σ (252 prior changes) |
| Daily call-minus-put growth surprise | +0.51σ (252 prior changes) |
| Daily open interest change (contracts) | -26,240 |
| Daily open interest change z-score (prior 252) | -4.56σ (252 prior changes) |
| Gamma max distance from close | +10.0% |
| Delta neutral distance from close | -22.8% |
| Prior-year sessions closer to gamma max | 29.4% of 252 |
| Prior-year sessions closer to delta neutral | 98.8% 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 | +0.8% | +0.2% to +1.6% | 79% | +0.1% to +1.6% | +0.1% |
| above | Day +3 | 14 | +1.0% | +0.1% to +1.8% | 79% | +0.0% to +1.9% | +0.0% |
| above | Day +5 | 14 | +0.9% | +0.0% to +2.6% | 71% | -0.1% to +2.7% | 0.0% |
| above | Day +10 | 14 | +1.4% | -0.7% to +5.2% | 64% | -0.8% to +5.4% | 0.0% |
| below | Day +1 | 13 | +0.2% | -0.3% to +0.5% | 62% | -0.3% to +0.5% | 0.0% |
| below | Day +3 | 13 | +1.0% | -0.8% to +1.5% | 54% | -0.8% to +1.5% | 0.0% |
| below | Day +5 | 13 | +0.4% | -0.7% to +1.7% | 54% | -0.7% to +1.7% | 0.0% |
| below | Day +10 | 13 | -0.1% | -0.6% to +1.3% | 46% | -0.6% to +1.3% | 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/ZTS.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/ZTS.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/ZTS.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).