Data through close

SKHY max pain, gamma exposure (GEX) & options open interest

As of close · rank #127 by open interest · 57 sessions of history since Jul 15, 2026

SKHY's nearest-expiration max pain is 185.00 for 2026-10-09, its GEX flip is 178.16, net GEX is 20,204,922, its put/call open-interest ratio is 0.99. These are whole-chain derived aggregates as of Oct 2, 2026 close.

Close
195.13
prev 193.50
Gamma max
210.81
+8.0% from close
Delta neutral
171.54
-12.1% from close
Gamma neutral
178.16
-8.7% from close
Open interest
791,842
-7.5% vs prev
Contracts listed
1,564
1,023 calls · 864 puts

Whole-chain analytics

Derived after the close from the same dated options chain. Signed gamma exposure uses calls positive and puts negative; it is a model convention, not observed dealer inventory.

Nearest max pain
185.00
-5.2% from close
2026-10-09
GEX flip
178.16
-8.7% from close
Net GEX
20,204,922
2,551,636 per 100k OI
Call wall
200.00
+2.5% from close
Put wall
190.00
-2.6% from close
Put/call OI
0.99
393,539 puts / 398,303 calls

Advanced options analysis

Complete derived analysis from the dated chain, normalized where possible for comparison across tickers. Catalyst intensity measures unusual pricing and activity; it does not identify an event, predict direction, or establish that an investment is attractive.

Catalyst intensity
53.3
cross-sectional score / 100
Directional score
-9.8
mixed positioning
IV rank
69.6
within trailing 52-week range
Front / back ATM IV
+49.2% / +55.2%
-5.9 pp front premium
Expected move
+6.8%
7 DTE · one standard deviation
ATM straddle / spot
+5.0%
front-window midpoint premium
25Δ risk reversal
-1.2 pp
put IV minus call IV
IV butterfly
8.5 pp
front-window smile convexity
Volume / open interest
0.14
120,749 contracts traded
Normalized net delta
0.176
option-holder convention
Modeled dealer delta
-0.173
opposite-side scenario
Vanna / 100k OI
2,008
volatility-sensitive delta
Charm / 100k OI
-2,153,080
time-decay-sensitive delta
IV surface range
60.9 pp
published contour maximum minus minimum

Strongest relative signals: volume/OI 0.14 · smile convexity 8.5 pp

Download the complete dated analysis JSON .

SKHY closed 8.0% below its gamma max of 210.81. It is 12.1% above the delta neutral price of 171.54. Total open interest is 791,842, -7.5% versus the previous session. Its options catalyst-intensity score is 53.3 out of 100, led by volume/OI 0.14, smile convexity 8.5 pp. What gamma max means · What delta neutral means

Call versus put open interest changes

Growth compares outstanding contracts on each side. A positive growth gap favors calls; a negative gap favors puts. Standardized surprises compare each measure with its own prior history. These describe the OI balance, not IV skew or buying direction.

SKHY call and put open interest changes
Measure Value
Call OI change, 1 session -35,892 contracts · -8.3%
Put OI change, 1 session -28,705 contracts · -6.8%
Call minus put OI growth, 1 session -1.5 pp
Call OI change, 5 sessions -748 contracts · -0.2%
Put OI change, 5 sessions +9,099 contracts · +2.4%
Call minus put OI growth, 5 sessions -2.6 pp
Daily call OI change surprise — (55 prior changes)
Daily put OI change surprise — (55 prior changes)
Daily call-minus-put growth surprise — (55 prior changes)

History

2026-07 2026-10
close delta neutral gamma max
Full history since 2020: drag to pan, scroll to zoom, hover for values. Open full-screen chart

Analysis visualizations

Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.

Gamma walls

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What followed prior gamma-max crosses?

Each historical path starts at 0% on the cross date and follows the close for ten subsequent trading sessions. Cohorts use the same direction as labelled and require gamma max to be within 10% of the close on both crossing sessions.

Crosses below gamma max 1 completed Day +10 paths · latest Sep 10, 2026
SKHY returns after crossing below gamma max Historical close-to-close return paths from Day 0 through Day 10, with the median, middle fifty percent, and a nominal confidence interval for the median. -10.0% -5.0% 0% +5.0% +10.0% Cross on Sep 10, 2026 Day 0 +1 +2 +3 +4 +5 +6 +7 +8 +9 +10
prior crosses middle 50% of outcomes nominal ≥90% median interval median
SKHY historical gamma-max cross outcomes after closing below
Horizon n Median Middle 50% Above zero Nominal ≥90% median interval Confidence floor
Day +1 1 +0.9% +0.9% to +0.9% 100% – –
Day +2 1 -6.7% -6.7% to -6.7% 0% – –
Day +3 1 -7.2% -7.2% to -7.2% 0% – –
Day +4 1 -7.1% -7.1% to -7.1% 0% – –
Day +5 1 -2.8% -2.8% to -2.8% 0% – –
Day +6 1 -0.4% -0.4% to -0.4% 0% – –
Day +7 1 +0.3% +0.3% to +0.3% 100% – –
Day +8 1 +3.8% +3.8% to +3.8% 100% – –
Day +9 1 +0.5% +0.5% to +0.5% 100% – –
Day +10 1 -1.0% -1.0% to -1.0% 0% – –
Crosses above gamma max 1 completed Day +10 paths · latest Sep 9, 2026
SKHY returns after crossing above gamma max Historical close-to-close return paths from Day 0 through Day 10, with the median, middle fifty percent, and a nominal confidence interval for the median. -14.0% -7.0% 0% +7.0% +14.0% Cross on Sep 9, 2026 Day 0 +1 +2 +3 +4 +5 +6 +7 +8 +9 +10
prior crosses middle 50% of outcomes nominal ≥90% median interval median
SKHY historical gamma-max cross outcomes after closing above
Horizon n Median Middle 50% Above zero Nominal ≥90% median interval Confidence floor
Day +1 1 -5.2% -5.2% to -5.2% 0% – –
Day +2 1 -4.3% -4.3% to -4.3% 0% – –
Day +3 1 -11.6% -11.6% to -11.6% 0% – –
Day +4 1 -12.0% -12.0% to -12.0% 0% – –
Day +5 1 -12.0% -12.0% to -12.0% 0% – –
Day +6 1 -7.9% -7.9% to -7.9% 0% – –
Day +7 1 -5.6% -5.6% to -5.6% 0% – –
Day +8 1 -4.9% -4.9% to -4.9% 0% – –
Day +9 1 -1.6% -1.6% to -1.6% 0% – –
Day +10 1 -4.7% -4.7% to -4.7% 0% – –

Returns are close-to-close after the labelled number of subsequent trading sessions. The confidence floor is the closest-to-zero bound of the order-statistic median interval; it is zero when that interval spans zero. Its coverage is nominally at least 90% under independent observations. Historical paths can overlap, so the interval and floor are descriptive uncertainty guides rather than formal coverage guarantees. Historical, not a forecast.

Last 57 sessions

SKHY trailing historical statistics
Sessions closed above gamma max 2%
Gamma max crosses 2
Delta neutral crosses 4
Prior-year sessions closer to gamma max 12.5% of 56
Prior-year sessions closer to delta neutral 69.6% of 56
Open interest percentile (1y) 30th
Daily open interest change versus prior year – (-64,597 contracts; 55 prior changes)
Open interest change, 5 sessions +1.1%
Open interest change, 21 sessions -13.2%
History available Jul 15, 2026 → Oct 2, 2026

Recent crosses

  1. closed below gamma max at 188.30 vs 200.88 (-6.7%)
  2. closed above gamma max at 198.63 vs 197.42 (+0.6%)
  3. closed above delta neutral at 149.00 vs 137.90 (+7.5%)
  4. closed below delta neutral at 143.02 vs 148.74 (-4.0%)
  5. closed above delta neutral at 154.03 vs 143.60 (+6.8%)
  6. closed below delta neutral at 152.31 vs 171.12 (-12.4%)

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Questions people ask about SKHY

Where is SKHY's gamma max today?

As of Oct 2, 2026, the gamma max for SKHY is 210.81, +8.0% from the 195.13 close. Gamma max is the underlying price at which the summed gamma of every open contract is largest; how it is computed and why it matters.

Is SKHY above or below its delta neutral price?

SKHY closed above delta neutral: 195.13 against a delta neutral price of 171.54. The delta neutral price is where the summed delta of the whole chain is zero; the definition.

How much open interest does SKHY have?

791,842 contracts of open interest across 1,564 listed contracts on Oct 2, 2026, -7.5% versus the previous session. What open interest measures.

Levels are recomputed after every trading day from licensed end-of-day options data; only derived aggregates are published. Methodology · Data and licence · Not investment advice.