# SVIX: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/SVIX
Data through: 2026-11-13 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 23.25 |
| Delta neutral (USD/share) | 23.93 |
| Gamma neutral (USD/share) | 25.67 |
| Gamma max (USD/share) | 30.82 |
| Open interest (contracts) | 114,875 |
| Nearest-expiration max pain (USD/share) | 25.00 (2026-11-20) |
| All-expiration max pain (USD/share) | 24.00 |
| Net gamma exposure | -1,082,486 |
| Confirmed GEX flip (USD/share) | 25.67 |
| Call wall (USD/share) | 25.00 |
| Put wall (USD/share) | 24.00 |
| Put/call open-interest ratio | 0.92 |
| Net GEX sign history | negative for the last 1 session; negative on 30 of the past 252 |
| Max pain expiration record (past 252 sessions) | expiration close nearer the prior-session max pain on 10 of 53 expirations (19%); median distance 5.08% vs 1.55% for an unchanged prior close |
| Options catalyst-intensity score (0–100) | 58.0 |
| Options directional score (-100 to +100) | 9.6 |
| IV rank | 80.4 |
| Front-minus-back IV | 3.4 pp |
| Front 25-delta risk reversal | -67.3 pp |
| Call OI change, 1 session | -2,882 contracts · -4.6% |
| Put OI change, 1 session | +1,444 contracts · +2.7% |
| Call minus put OI growth, 1 session | -7.3 pp |
| Call OI change, 5 sessions | +2,783 contracts · +4.9% |
| Put OI change, 5 sessions | +13,826 contracts · +33.6% |
| Call minus put OI growth, 5 sessions | -28.8 pp |
| Daily call OI change surprise | -0.87σ (252 prior changes) |
| Daily put OI change surprise | +0.35σ (252 prior changes) |
| Daily call-minus-put growth surprise | -1.24σ (252 prior changes) |
| Daily open interest change (contracts) | -1,438 |
| Daily open interest change z-score (prior 252) | -0.22σ (252 prior changes) |
| Gamma max distance from close | +32.6% |
| Delta neutral distance from close | +2.9% |
| Prior-year sessions closer to gamma max | 98.0% of 252 |
| Prior-year sessions closer to delta neutral | 16.7% of 252 |

## Recent expirations vs max pain

| Expiration | Max pain (session before) | Prior close | Expiration close | Close vs max pain | Nearer |
| --- | ---: | ---: | ---: | ---: | --- |
| 2026-11-13 | 24.50 | 23.78 | 23.25 | -5.26% | Prior close |
| 2026-11-06 | 28.00 | 19.95 | 20.27 | -38.75% | Prior close |
| 2026-10-30 | 28.00 | 28.37 | 25.60 | -8.46% | Max pain |
| 2026-10-23 | 29.00 | 26.91 | 26.53 | -9.18% | Prior close |
| 2026-10-16 | 29.00 | 29.41 | 26.90 | -7.14% | Max pain |
| 2026-10-09 | 35.00 | 29.25 | 29.66 | -18.26% | Prior close |
| 2026-10-02 | 28.50 | 28.33 | 28.98 | +1.69% | Max pain |
| 2026-09-25 | 32.00 | 28.70 | 29.22 | -9.69% | Prior close |
| 2026-09-18 | 25.00 | 28.57 | 28.40 | +11.90% | Prior close |
| 2026-09-11 | 27.50 | 26.85 | 28.13 | +2.35% | Max pain |

Each expiration compares the last session before it, when it was the nearest expiration, with the expiration-session close; distances are percentages of that prior close. Underlying closes are not option settlement values. Descriptive history, not a forecast.

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 35 | +0.2% | -0.9% to +1.5% | 54% | -0.6% to +0.4% | 0.0% |
| above | Day +3 | 35 | +0.5% | -1.4% to +2.2% | 57% | -0.1% to +0.9% | 0.0% |
| above | Day +5 | 35 | +0.5% | -4.2% to +3.3% | 57% | -1.4% to +2.1% | 0.0% |
| above | Day +10 | 35 | +0.1% | -6.2% to +4.4% | 51% | -3.9% to +2.3% | 0.0% |
| below | Day +1 | 30 | +0.5% | -0.9% to +1.7% | 60% | -0.6% to +1.3% | 0.0% |
| below | Day +3 | 30 | +0.5% | -1.5% to +2.7% | 53% | -0.7% to +1.4% | 0.0% |
| below | Day +5 | 30 | +0.3% | -3.3% to +2.9% | 53% | -1.8% to +2.1% | 0.0% |
| below | Day +10 | 30 | +0.5% | -3.0% to +6.7% | 63% | -0.5% to +2.8% | 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/SVIX.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/SVIX.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/SVIX.json?date=2026-11-13&public_schema=5)

An em dash means unavailable, not zero. Values use the same display rounding as the HTML page. This is a current snapshot; the 60-session close-versus-max-pain chart, full history and individual event paths are on the canonical page.

[Definitions and limitations](https://halfonadouble.com/methodology.md).