# KWEB: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/KWEB
Data through: 2026-10-02 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 23.86 |
| Delta neutral (USD/share) | 24.21 |
| Gamma neutral (USD/share) | 19.91 |
| Gamma max (USD/share) | 26.42 |
| Open interest (contracts) | 2,182,406 |
| Nearest-expiration max pain (USD/share) | 25.00 (2026-10-09) |
| All-expiration max pain (USD/share) | 25.00 |
| Net gamma exposure | 85,070,786 |
| Confirmed GEX flip (USD/share) | 19.91 |
| Call wall (USD/share) | 24.00 |
| Put wall (USD/share) | 24.00 |
| Put/call open-interest ratio | 0.35 |
| Options catalyst-intensity score (0–100) | 36.6 |
| Options directional score (-100 to +100) | 3.8 |
| IV rank | 26.1 |
| Front ATM IV | +24.7% |
| Front-minus-back IV | -4.2 pp |
| Front expected move | +3.4% |
| Front ATM straddle / spot | +2.6% |
| Front 25-delta risk reversal | 2.4 pp |
| Call OI change, 1 session | -59,234 contracts · -3.5% |
| Put OI change, 1 session | -15,864 contracts · -2.7% |
| Call minus put OI growth, 1 session | -0.8 pp |
| Call OI change, 5 sessions | +111,138 contracts · +7.4% |
| Put OI change, 5 sessions | +3,813 contracts · +0.7% |
| Call minus put OI growth, 5 sessions | +6.7 pp |
| Daily call OI change surprise | -0.38σ (252 prior changes) |
| Daily put OI change surprise | -0.23σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.32σ (252 prior changes) |
| Daily open interest change (contracts) | -75,098 |
| Daily open interest change z-score (prior 252) | -0.36σ (252 prior changes) |
| Gamma max distance from close | +10.7% |
| Delta neutral distance from close | +1.5% |
| Prior-year sessions closer to gamma max | 36.9% of 252 |
| Prior-year sessions closer to delta neutral | 28.2% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 13 | -0.3% | -1.0% to +0.5% | 46% | -1.0% to +0.5% | 0.0% |
| above | Day +3 | 13 | +0.0% | -1.4% to +6.3% | 54% | -1.4% to +6.3% | 0.0% |
| above | Day +5 | 13 | +0.8% | -4.5% to +7.6% | 54% | -4.5% to +7.6% | 0.0% |
| above | Day +10 | 13 | -1.3% | -6.3% to +6.6% | 46% | -6.3% to +6.6% | 0.0% |
| below | Day +1 | 12 | +0.7% | -0.8% to +2.3% | 58% | -1.0% to +3.3% | 0.0% |
| below | Day +3 | 12 | +3.4% | +0.3% to +5.6% | 75% | -1.2% to +5.6% | 0.0% |
| below | Day +5 | 12 | +0.8% | -6.8% to +6.0% | 50% | -7.1% to +6.3% | 0.0% |
| below | Day +10 | 12 | -0.4% | -8.4% to +5.3% | 50% | -13.8% to +12.2% | 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/KWEB.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/KWEB.csv)
- [Complete advanced analysis](https://halfonadouble.com/api/v1/analysis/KWEB.json?date=2026-10-02)

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).