SMMT max pain, gamma exposure (GEX) & options open interest
As of close · rank #406 by open interest · 1,214 sessions of history since Dec 1, 2020
SMMT's nearest-expiration max pain is 16.50 for 2026-10-09, its GEX flip is 12.57, net GEX is 4,090,927, its put/call open-interest ratio is 0.68. These are whole-chain derived aggregates as of Oct 2, 2026 close.
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.
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.
Strongest relative signals: 7d expected move +10.0% · 25Δ risk reversal -16.6 pp
SMMT closed 9.3% below its gamma max of 18.31. It is 19.6% above the delta neutral price of 13.47. Total open interest is 199,021, -13.8% versus the previous session. Its options catalyst-intensity score is 41.4 out of 100, led by 7d expected move +10.0%, 25Δ risk reversal -16.6 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.
| Measure | Value |
|---|---|
| Call OI change, 1 session | -13,894 contracts · -10.5% |
| Put OI change, 1 session | -17,855 contracts · -18.1% |
| Call minus put OI growth, 1 session | +7.6 pp |
| Call OI change, 5 sessions | +3,913 contracts · +3.4% |
| Put OI change, 5 sessions | +8,591 contracts · +11.9% |
| Call minus put OI growth, 5 sessions | -8.5 pp |
| Daily call OI change surprise | -2.20σ (252 prior changes) |
| Daily put OI change surprise | -5.17σ (252 prior changes) |
| Daily call-minus-put growth surprise | +1.13σ (252 prior changes) |
History
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Analysis visualizations
Derived from the 2026-10-02 options chain. Select an analysis to explore its chart.
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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 35 completed Day +10 paths · latest Sep 15, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 35 | -1.5% | -4.4% to +2.3% | 37% | -3.6% to +0.5% | 0.0% |
| Day +2 | 35 | -1.1% | -4.6% to +2.5% | 40% | -3.0% to +0.9% | 0.0% |
| Day +3 | 35 | -1.5% | -7.5% to +2.6% | 49% | -5.2% to +1.9% | 0.0% |
| Day +4 | 35 | -0.8% | -6.1% to +5.9% | 46% | -3.3% to +2.1% | 0.0% |
| Day +5 | 35 | 0.0% | -8.2% to +8.4% | 46% | -1.6% to +4.2% | 0.0% |
| Day +6 | 35 | +2.0% | -5.7% to +8.5% | 51% | -1.9% to +5.0% | 0.0% |
| Day +7 | 35 | +1.3% | -8.6% to +9.1% | 51% | -4.5% to +6.2% | 0.0% |
| Day +8 | 35 | +0.7% | -8.7% to +11.3% | 60% | -2.1% to +5.7% | 0.0% |
| Day +9 | 35 | +0.6% | -9.8% to +9.7% | 51% | -3.3% to +3.4% | 0.0% |
| Day +10 | 35 | +1.8% | -7.3% to +15.3% | 54% | -3.6% to +6.2% | 0.0% |
Crosses above gamma max 27 completed Day +10 paths · latest Sep 14, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 27 | -1.6% | -4.5% to +1.9% | 33% | -3.4% to +1.4% | 0.0% |
| Day +2 | 27 | -5.5% | -7.2% to +2.0% | 30% | -6.9% to -1.3% | -1.3% |
| Day +3 | 27 | -2.0% | -10.8% to +1.3% | 41% | -6.8% to +0.8% | 0.0% |
| Day +4 | 27 | +1.1% | -9.3% to +7.3% | 52% | -7.5% to +2.5% | 0.0% |
| Day +5 | 27 | -0.5% | -7.7% to +5.9% | 48% | -5.2% to +4.2% | 0.0% |
| Day +6 | 27 | +0.4% | -12.0% to +5.4% | 52% | -7.1% to +3.5% | 0.0% |
| Day +7 | 27 | -0.8% | -11.8% to +3.0% | 48% | -6.3% to +2.0% | 0.0% |
| Day +8 | 27 | -0.4% | -10.0% to +8.7% | 48% | -8.9% to +5.6% | 0.0% |
| Day +9 | 27 | +2.8% | -12.6% to +10.2% | 52% | -11.5% to +10.0% | 0.0% |
| Day +10 | 27 | -2.3% | -14.9% to +7.8% | 44% | -10.2% to +6.7% | 0.0% |
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 252 sessions
| Sessions closed above gamma max | 6% |
| Gamma max crosses | 14 |
| Delta neutral crosses | 22 |
| Prior-year sessions closer to gamma max | 34.9% of 252 |
| Prior-year sessions closer to delta neutral | 81.0% of 252 |
| Open interest percentile (1y) | 99th |
| Daily open interest change versus prior year | -3.52σ (-31,749 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +6.7% |
| Open interest change, 21 sessions | +31.0% |
| History available | Dec 1, 2020 → Oct 2, 2026 |
Recent crosses
- closed below gamma max at 17.40 vs 17.68 (-1.6%)
- closed above gamma max at 18.42 vs 18.01 (+2.2%)
- closed below gamma max at 17.00 vs 17.31 (-1.8%)
- closed above gamma max at 17.13 vs 15.25 (+11.0%)
- closed above delta neutral at 12.43 vs 11.83 (+4.8%)
- closed below delta neutral at 12.78 vs 13.17 (-3.1%)
- closed below gamma max at 14.00 vs 14.88 (-6.3%)
- closed above gamma max at 15.10 vs 14.98 (+0.8%)
- closed below gamma max at 14.19 vs 14.29 (-0.7%)
- closed above gamma max at 14.23 vs 14.12 (+0.7%)
In today's screens
Neighbours by open interest
Cite or embed this snapshot
Share the dated 1600×840 image or cite this canonical page. The card contains public derived aggregates, not contract-level quotes.
Canonical source: https://halfonadouble.com/stock/SMMT
Questions people ask about SMMT
Where is SMMT's gamma max today?
As of Oct 2, 2026, the gamma max for SMMT is 18.31, +9.3% from the 16.75 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 SMMT above or below its delta neutral price?
SMMT closed above delta neutral: 16.75 against a delta neutral price of 13.47. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SMMT have?
199,021 contracts of open interest across 334 listed contracts on Oct 2, 2026, -13.8% 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.