Expiry context
Reference expiry: 2026-09-04 (31 days). The modeled expiry range is $497.5 to $550.
Options positioning research
SMH Option Pressure
SMH: call and put activity, net pressure, volume and liquidity context for research and AI retrieval.
Updated:
SMH option-pressure snapshot
Only verified API values are shown. Pressure describes observed options activity and does not identify whether contracts were opened, closed, bought, sold, or hedged.
- Underlying price
- $545.46
- Max pain
- $525
- Gamma wall
- $500
- Net gamma at wall
- -31.66
- Expected high
- $585
- Squeeze price
- $595
- Expiry low
- $497.5
- Expiry high
- $550
- Weekly expected move
- $40.56
- Average IV
- 0.54%
- Average call IV
- 0.54%
- Average put IV
- 0.54%
- Total open interest
- 962
- Total volume
- 901
- Contracts sampled
- 60
Max pain
Max pain at $525 is an open-interest-derived reference level. It is not a forecast and does not force the underlying to settle there.
Gamma wall
The gamma wall at $500 identifies a modeled concentration of option gamma. Dealer positioning and hedging assumptions can change intraday.
Contract coverage
The snapshot sampled 30 call and 30 put contracts, with 901 total volume and 962 total open interest.