{"schema_version":1,"publisher":"Half on a Double","data_through":"2026-10-02","frequency":"end-of-day","methodology":"market-implied-carry-v1","generation":"market-implied-carry-analytics-20260917T000000Z","canonical_url":"https://halfonadouble.com/stock/KHC","markdown_url":"https://halfonadouble.com/stock/KHC.md","history_url":"https://halfonadouble.com/api/v1/history/KHC.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/KHC.json?date=2026-10-02","definitions_url":"https://halfonadouble.com/methodology.md","license_url":"https://halfonadouble.com/terms.md","disclaimer_url":"https://halfonadouble.com/disclaimer.md","symbol":"KHC","page_tier":"A","units":{"prices":"USD per share","open_interest":"option contracts","gamma_exposure":"modeled dollar-delta change per USD 1 underlying move","gamma_exposure_normalized":"modeled gamma exposure per 100,000 open option contracts","distances":"percent of close","forward_outcomes":"close-to-close percent return"},"snapshot":{"close":22.190000534057617,"previous_close":22.459999084472656,"delta_neutral":22.75158833810277,"gamma_neutral":21.632165727976705,"gamma_max":23.7837059962811,"total_open_interest":351718,"previous_open_interest":403626,"listed_contracts":346,"listed_calls":213,"listed_puts":163,"gamma_max_distance_pct":7.1820884356331325,"delta_neutral_distance_pct":2.5308147387523414,"gamma_neutral_distance_pct":-2.5139017244489787,"open_interest_change_1d_pct":-12.86042029007051,"call_open_interest":227595,"put_open_interest":124123,"put_call_open_interest_ratio":0.5453678683626617,"nearest_expiration_max_pain":23.5,"nearest_expiration_max_pain_expiry":"2026-10-09","nearest_expiration_max_pain_distance_pct":5.903557613402359,"all_expiration_max_pain":23.5,"net_gamma_exposure":9707496.321785232,"net_gamma_exposure_per_100k_open_interest":2760022.6095295753,"gamma_exposure_flip":21.632165727976705,"gamma_exposure_flip_distance_pct":-2.5139017244489787,"call_wall":25,"call_wall_distance_pct":12.663359163193999,"put_wall":22.5,"put_wall_distance_pct":1.3970232468746002,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":null,"open_interest_rank":274},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-02","session_count":1394,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":6.349206349206349,"gamma_max_cross_count":18,"delta_neutral_cross_count":20,"gamma_max_prior_sessions_closer_pct":81.74603174603175,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":40.476190476190474,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":5.555555555555555,"open_interest_change_1d_contracts":-51908,"open_interest_change_z_252":-1.8932950167778582,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":1.9729612974866126,"open_interest_change_21_sessions_pct":-12.498600596581227,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-46979,"put_change_contracts":-4929,"call_growth_pct":-17.10977732778777,"put_growth_pct":-3.8193906332331156,"call_minus_put_growth_pp":-13.290386694554655},"five_sessions":{"call_change_contracts":3194,"put_change_contracts":3611,"call_growth_pct":1.4233448157539403,"put_growth_pct":2.9963821030270843,"call_minus_put_growth_pp":-1.573037287273144},"call_change_surprise":{"z_score":-2.2024676864213206,"comparison_sessions":252},"put_change_surprise":{"z_score":-0.6005383283535584,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-2.0996818039540663,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-02","analysis_coverage":1,"catalyst_score":53.59932286716821,"directional_score":30.866141732283463,"catalyst_reasons":["25Δ risk reversal -121.3 pp","IV rank 93"],"features":{"symbol":"KHC","price":22.19,"totalOi":404722,"analysisCoverage":1,"avgIvPct":226.4,"ivRank":92.5,"iv52wHighPct":240.5,"iv52wLowPct":53,"frontDte":7,"frontAtmIvPct":27.4398,"backAtmIvPct":30.568,"termPremiumPp":-3.1282,"expectedMoveFrontPct":3.8,"straddleFrontPct":2.66,"straddle30dPct":6.04,"riskReversalFrontPp":-121.33,"riskReversal30dPp":5,"butterflyFrontPp":-7.66,"butterfly30dPp":31.63,"putCallOiRatio":0.458,"putCallOiFrontRatio":0.048,"putCallVolumeFrontRatio":0.398,"optionVolume":13646,"volumeOiRatio":0.033717,"netDeltaNormalized":-0.031604,"dealerDeltaNormalized":0.031483,"gexPer100kOi":949549.461112,"vannaPer100kOi":3497.956622,"charmPer100kOi":-314884.785112,"weekendDeltaShiftPer100kOi":-944654.355335,"ivSurfaceRangePp":254.3,"gammaFlipDistancePct":8.246958,"maxPainDistancePct":5.90356,"peakCallDistancePct":12.663362,"peakPutDistancePct":1.397026},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/KHC.json?date=2026-10-02","interpretation":"Catalyst intensity ranks unusual option pricing and activity; it does not identify the event, predict direction or recommend a trade. Directional score summarizes relative positioning under documented model conventions."},"gamma_max_cross_outcomes":[{"direction":"above","event_count":36,"completed_path_count":36,"latest_cross_date":"2026-09-02","horizons":[{"sessions":1,"sample_size":36,"median_return_pct":0.5405446501095978,"p25_return_pct":-0.34969429956409614,"p75_return_pct":1.0786827759689643,"above_zero_pct":69.44444444444444,"median_interval_low_pct":0.055836007632792395,"median_interval_high_pct":0.8904425367756374,"median_interval_nominal_coverage_pct":93.47546647768468,"confidence_floor_pct":0.055836007632792395},{"sessions":3,"sample_size":36,"median_return_pct":0.24145172927795278,"p25_return_pct":-1.3641723164576876,"p75_return_pct":1.245477950517787,"above_zero_pct":55.55555555555556,"median_interval_low_pct":-0.7151039665637127,"median_interval_high_pct":0.5672584599566433,"median_interval_nominal_coverage_pct":93.47546647768468,"confidence_floor_pct":0},{"sessions":5,"sample_size":36,"median_return_pct":-0.15488123191301217,"p25_return_pct":-1.6364861781522548,"p75_return_pct":2.3807020613226038,"above_zero_pct":47.22222222222222,"median_interval_low_pct":-1.1510780705260681,"median_interval_high_pct":1.5667153138454015,"median_interval_nominal_coverage_pct":93.47546647768468,"confidence_floor_pct":0},{"sessions":10,"sample_size":36,"median_return_pct":1.6462287613465798,"p25_return_pct":-3.9155379685954785,"p75_return_pct":3.0851947791506906,"above_zero_pct":55.55555555555556,"median_interval_low_pct":-2.0237452029360226,"median_interval_high_pct":2.484643766697281,"median_interval_nominal_coverage_pct":93.47546647768468,"confidence_floor_pct":0}]},{"direction":"below","event_count":38,"completed_path_count":38,"latest_cross_date":"2026-09-03","horizons":[{"sessions":1,"sample_size":38,"median_return_pct":-0.16878223272218107,"p25_return_pct":-0.9599266087322811,"p75_return_pct":0.0974508909642402,"above_zero_pct":34.21052631578947,"median_interval_low_pct":-0.6670224200997499,"median_interval_high_pct":0,"median_interval_nominal_coverage_pct":92.70486114837695,"confidence_floor_pct":0},{"sessions":3,"sample_size":38,"median_return_pct":-0.3594239326707216,"p25_return_pct":-0.742966170563164,"p75_return_pct":1.227321224805883,"above_zero_pct":47.368421052631575,"median_interval_low_pct":-0.6476029939917027,"median_interval_high_pct":0.45850703309682217,"median_interval_nominal_coverage_pct":92.70486114837695,"confidence_floor_pct":0},{"sessions":5,"sample_size":38,"median_return_pct":0.14661787437743046,"p25_return_pct":-2.426577743227959,"p75_return_pct":2.0284983104467136,"above_zero_pct":52.63157894736842,"median_interval_low_pct":-1.439024762409491,"median_interval_high_pct":1.1280176212600024,"median_interval_nominal_coverage_pct":92.70486114837695,"confidence_floor_pct":0},{"sessions":10,"sample_size":38,"median_return_pct":0.3355760563012955,"p25_return_pct":-2.2800455829026065,"p75_return_pct":2.333208621376104,"above_zero_pct":50,"median_interval_low_pct":-0.8200035284777751,"median_interval_high_pct":1.8136203211817525,"median_interval_nominal_coverage_pct":92.70486114837695,"confidence_floor_pct":0}]}],"missing_value_semantics":"null means unavailable; it never means zero","interpretation":"These are descriptive end-of-day model outputs. Signed GEX uses the published call-positive, put-negative convention and is not observed dealer inventory. None of the fields are live prices, predictions or investment advice."}