SMR max pain, gamma exposure (GEX) & options open interest
As of close · rank #196 by open interest · 1,033 sessions of history since May 3, 2022
SMR's nearest-expiration max pain is 8.50 for 2026-10-09, its GEX flip is 7.12, net GEX is 2,252,634, its put/call open-interest ratio is 0.47. 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 +9.4%
SMR closed 33.2% below its gamma max of 10.32. It is 8.9% below the delta neutral price of 8.44. Total open interest is 512,607, -7.2% versus the previous session. Its options catalyst-intensity score is 41.1 out of 100, led by 7d expected move +9.4%. 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 | -29,088 contracts · -7.7% |
| Put OI change, 1 session | -10,487 contracts · -6.0% |
| Call minus put OI growth, 1 session | -1.7 pp |
| Call OI change, 5 sessions | -1,794 contracts · -0.5% |
| Put OI change, 5 sessions | +3,958 contracts · +2.5% |
| Call minus put OI growth, 5 sessions | -3.0 pp |
| Daily call OI change surprise | -0.90σ (252 prior changes) |
| Daily put OI change surprise | -0.37σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.30σ (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 25 completed Day +10 paths · latest Sep 9, 2026
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 25 | -1.3% | -6.7% to +5.6% | 48% | -6.1% to +3.4% | 0.0% |
| Day +2 | 25 | -1.4% | -7.3% to +7.5% | 44% | -7.2% to +7.1% | 0.0% |
| Day +3 | 25 | +5.4% | -6.7% to +16.9% | 52% | -4.8% to +9.6% | 0.0% |
| Day +4 | 25 | +3.6% | -3.8% to +14.8% | 60% | -3.0% to +6.2% | 0.0% |
| Day +5 | 25 | +2.9% | -4.1% to +12.2% | 68% | -0.1% to +11.8% | 0.0% |
| Day +6 | 25 | +5.9% | -9.7% to +19.5% | 60% | -6.6% to +11.3% | 0.0% |
| Day +7 | 25 | +8.0% | -10.0% to +18.7% | 68% | -2.5% to +17.9% | 0.0% |
| Day +8 | 25 | +8.5% | -8.4% to +20.2% | 68% | -1.7% to +17.9% | 0.0% |
| Day +9 | 25 | +11.7% | -9.4% to +30.7% | 64% | -0.5% to +24.7% | 0.0% |
| Day +10 | 25 | +13.9% | -6.8% to +32.5% | 64% | -6.1% to +23.1% | 0.0% |
Crosses above gamma max 23 completed Day +10 paths · latest Dec 4, 2025
| Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
|---|---|---|---|---|---|---|
| Day +1 | 23 | -1.8% | -4.8% to +1.8% | 35% | -4.6% to +0.7% | 0.0% |
| Day +2 | 23 | -1.8% | -10.2% to +3.3% | 39% | -5.6% to +2.1% | 0.0% |
| Day +3 | 23 | -2.5% | -11.5% to +9.1% | 39% | -7.1% to +4.2% | 0.0% |
| Day +4 | 23 | -0.5% | -9.9% to +4.9% | 48% | -4.2% to +4.0% | 0.0% |
| Day +5 | 23 | -0.1% | -8.5% to +8.7% | 43% | -5.3% to +5.9% | 0.0% |
| Day +6 | 23 | -0.3% | -13.7% to +8.2% | 48% | -12.9% to +6.0% | 0.0% |
| Day +7 | 23 | +0.1% | -12.5% to +5.9% | 52% | -5.0% to +3.2% | 0.0% |
| Day +8 | 23 | +1.8% | -8.8% to +10.9% | 52% | -5.6% to +4.6% | 0.0% |
| Day +9 | 23 | +5.8% | -8.9% to +15.5% | 52% | -5.2% to +12.2% | 0.0% |
| Day +10 | 23 | +3.7% | -11.5% to +17.7% | 57% | -3.5% to +14.6% | 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 | 1% |
| Gamma max crosses | 6 |
| Delta neutral crosses | 37 |
| Prior-year sessions closer to gamma max | 79.4% of 252 |
| Prior-year sessions closer to delta neutral | 57.5% of 252 |
| Open interest percentile (1y) | 24th |
| Daily open interest change versus prior year | -0.69σ (-39,575 contracts; 252 prior changes) |
| Open interest change, 5 sessions | +0.4% |
| Open interest change, 21 sessions | +0.8% |
| History available | May 3, 2022 → Oct 2, 2026 |
Recent crosses
- closed below delta neutral at 8.47 vs 8.56 (-1.1%)
- closed above delta neutral at 8.80 vs 8.76 (+0.5%)
- closed below delta neutral at 8.27 vs 8.61 (-4.1%)
- closed above delta neutral at 9.04 vs 8.89 (+1.6%)
- closed below delta neutral at 8.61 vs 8.86 (-2.9%)
- closed below gamma max at 10.81 vs 11.40 (-5.4%)
- closed above gamma max at 11.18 vs 11.04 (+1.3%)
- closed above delta neutral at 9.30 vs 9.17 (+1.4%)
- closed below delta neutral at 8.63 vs 8.91 (-3.2%)
- closed above delta neutral at 8.60 vs 8.32 (+3.2%)
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/SMR
Questions people ask about SMR
Where is SMR's gamma max today?
As of Oct 2, 2026, the gamma max for SMR is 10.32, +33.2% from the 7.75 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 SMR above or below its delta neutral price?
SMR closed below delta neutral: 7.75 against a delta neutral price of 8.44. The delta neutral price is where the summed delta of the whole chain is zero; the definition.
How much open interest does SMR have?
512,607 contracts of open interest across 386 listed contracts on Oct 2, 2026, -7.2% 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.