{"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/KWEB","markdown_url":"https://halfonadouble.com/stock/KWEB.md","history_url":"https://halfonadouble.com/api/v1/history/KWEB.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/KWEB.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":"KWEB","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":23.860000610351562,"previous_close":24.329999923706055,"delta_neutral":24.213708940550582,"gamma_neutral":19.906620463550812,"gamma_max":26.417273153788756,"total_open_interest":2182406,"previous_open_interest":2257504,"listed_contracts":501,"listed_calls":316,"listed_puts":217,"gamma_max_distance_pct":10.717822623725043,"delta_neutral_distance_pct":1.4824321925857977,"gamma_neutral_distance_pct":-16.569069763919423,"open_interest_change_1d_pct":-3.326594327186131,"call_open_interest":1618995,"put_open_interest":563411,"put_call_open_interest_ratio":0.34800045707367844,"nearest_expiration_max_pain":25,"nearest_expiration_max_pain_expiry":"2026-10-09","nearest_expiration_max_pain_distance_pct":4.77786823338912,"all_expiration_max_pain":25,"net_gamma_exposure":85070785.76597445,"net_gamma_exposure_per_100k_open_interest":3898027.487368274,"gamma_exposure_flip":19.906620463550812,"gamma_exposure_flip_distance_pct":-16.569069763919423,"call_wall":24,"call_wall_distance_pct":0.5867535040535554,"put_wall":24,"put_wall_distance_pct":0.5867535040535554,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":"below","open_interest_rank":50},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-02","session_count":1394,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":0,"gamma_max_cross_count":0,"delta_neutral_cross_count":33,"gamma_max_prior_sessions_closer_pct":36.904761904761905,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":28.174603174603174,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":2.380952380952381,"open_interest_change_1d_contracts":-75098,"open_interest_change_z_252":-0.36190459416626675,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":5.560024281060531,"open_interest_change_21_sessions_pct":-11.569837715052577,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-59234,"put_change_contracts":-15864,"call_growth_pct":-3.5295540715837945,"put_growth_pct":-2.738595658366061,"call_minus_put_growth_pp":-0.7909584132177336},"five_sessions":{"call_change_contracts":111138,"put_change_contracts":3813,"call_growth_pct":7.370592834731675,"put_growth_pct":0.6813819920728809,"call_minus_put_growth_pp":6.689210842658794},"call_change_surprise":{"z_score":-0.38473587053658087,"comparison_sessions":252},"put_change_surprise":{"z_score":-0.22946830995548884,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-0.3155063731521967,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-02","analysis_coverage":1,"catalyst_score":36.57837712438219,"directional_score":3.7795275590551185,"catalyst_reasons":[],"features":{"symbol":"KWEB","price":23.86,"totalOi":2275562,"analysisCoverage":1,"avgIvPct":110.7,"ivRank":26.1,"iv52wHighPct":313,"iv52wLowPct":39.26,"frontDte":7,"frontAtmIvPct":24.6958,"backAtmIvPct":28.9304,"termPremiumPp":-4.2346,"expectedMoveFrontPct":3.42,"straddleFrontPct":2.56,"straddle30dPct":5.51,"riskReversalFrontPp":2.38,"riskReversal30dPp":-6.14,"butterflyFrontPp":4.61,"butterfly30dPp":9.95,"putCallOiRatio":0.345,"putCallOiFrontRatio":0.489,"putCallVolumeFrontRatio":0.716,"optionVolume":65285,"volumeOiRatio":0.02869,"netDeltaNormalized":-0.018963,"dealerDeltaNormalized":0.018951,"gexPer100kOi":824228.621325,"vannaPer100kOi":2450.823137,"charmPer100kOi":26367.244663,"weekendDeltaShiftPer100kOi":79101.733989,"ivSurfaceRangePp":122.1,"gammaFlipDistancePct":8.256496,"maxPainDistancePct":4.777871,"peakCallDistancePct":0.586756,"peakPutDistancePct":-7.795474},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/KWEB.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":13,"completed_path_count":13,"latest_cross_date":"2025-09-11","horizons":[{"sessions":1,"sample_size":13,"median_return_pct":-0.27000639621893585,"p25_return_pct":-0.9728246003829377,"p75_return_pct":0.46242732505257234,"above_zero_pct":46.15384615384615,"median_interval_low_pct":-0.9728246003829377,"median_interval_high_pct":0.46242732505257234,"median_interval_nominal_coverage_pct":90.771484375,"confidence_floor_pct":0},{"sessions":3,"sample_size":13,"median_return_pct":0.028907909455400116,"p25_return_pct":-1.3585150538974466,"p75_return_pct":6.332388549191048,"above_zero_pct":53.84615384615385,"median_interval_low_pct":-1.3585150538974466,"median_interval_high_pct":6.332388549191048,"median_interval_nominal_coverage_pct":90.771484375,"confidence_floor_pct":0},{"sessions":5,"sample_size":13,"median_return_pct":0.7514512939211127,"p25_return_pct":-4.484530664906661,"p75_return_pct":7.556495101373684,"above_zero_pct":53.84615384615385,"median_interval_low_pct":-4.484530664906661,"median_interval_high_pct":7.556495101373684,"median_interval_nominal_coverage_pct":90.771484375,"confidence_floor_pct":0},{"sessions":10,"sample_size":13,"median_return_pct":-1.2757704680879445,"p25_return_pct":-6.288596100334043,"p75_return_pct":6.577205401853958,"above_zero_pct":46.15384615384615,"median_interval_low_pct":-6.288596100334043,"median_interval_high_pct":6.577205401853958,"median_interval_nominal_coverage_pct":90.771484375,"confidence_floor_pct":0}]},{"direction":"below","event_count":12,"completed_path_count":12,"latest_cross_date":"2025-09-12","horizons":[{"sessions":1,"sample_size":12,"median_return_pct":0.6607054694453884,"p25_return_pct":-0.8416604572569292,"p75_return_pct":2.30962091734202,"above_zero_pct":58.333333333333336,"median_interval_low_pct":-1.0111240358150364,"median_interval_high_pct":3.2526856442382623,"median_interval_nominal_coverage_pct":96.142578125,"confidence_floor_pct":0},{"sessions":3,"sample_size":12,"median_return_pct":3.44386786466232,"p25_return_pct":0.2952285562451,"p75_return_pct":5.570258861980343,"above_zero_pct":75,"median_interval_low_pct":-1.2356790504630122,"median_interval_high_pct":5.647616143148815,"median_interval_nominal_coverage_pct":96.142578125,"confidence_floor_pct":0},{"sessions":5,"sample_size":12,"median_return_pct":0.7947721528907103,"p25_return_pct":-6.823907814323288,"p75_return_pct":6.009223362457949,"above_zero_pct":50,"median_interval_low_pct":-7.053678960901832,"median_interval_high_pct":6.282412373800783,"median_interval_nominal_coverage_pct":96.142578125,"confidence_floor_pct":0},{"sessions":10,"sample_size":12,"median_return_pct":-0.3990595585513679,"p25_return_pct":-8.40371212734605,"p75_return_pct":5.341843095809223,"above_zero_pct":50,"median_interval_low_pct":-13.79776789250423,"median_interval_high_pct":12.215634542933905,"median_interval_nominal_coverage_pct":96.142578125,"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."}