{"schema_version":1,"publisher":"Half on a Double","data_through":"2026-10-16","frequency":"end-of-day","methodology":"market-implied-carry-v1","generation":"market-implied-carry-analytics-20260917T000000Z","canonical_url":"https://halfonadouble.com/stock/KBE","markdown_url":"https://halfonadouble.com/stock/KBE.md","history_url":"https://halfonadouble.com/api/v1/history/KBE.csv","advanced_analysis_url":"https://halfonadouble.com/api/v1/analysis/KBE.json?date=2026-10-16&public_schema=4","definitions_url":"https://halfonadouble.com/methodology.md","license_url":"https://halfonadouble.com/terms.md","disclaimer_url":"https://halfonadouble.com/disclaimer.md","symbol":"KBE","page_tier":"A","units":{"prices":"USD per share","open_interest":"option contracts","gamma_exposure":"modeled dollar-delta change per USD 1 underlying move","gamma_exposure_normalized":"modeled gamma exposure per 100,000 open option contracts","distances":"percent of close","forward_outcomes":"close-to-close percent return"},"snapshot":{"close":63.619998931884766,"previous_close":63.54999923706055,"delta_neutral":74.29367803463813,"gamma_neutral":63.619998931884766,"gamma_max":105,"total_open_interest":215700,"previous_open_interest":216009,"listed_contracts":192,"listed_calls":115,"listed_puts":98,"gamma_max_distance_pct":65.04244225533397,"delta_neutral_distance_pct":16.777238733029883,"gamma_neutral_distance_pct":0,"open_interest_change_1d_pct":-0.1430495951557574,"call_open_interest":21682,"put_open_interest":194018,"put_call_open_interest_ratio":8.948344248685546,"nearest_expiration_max_pain":65,"nearest_expiration_max_pain_expiry":"2026-11-20","nearest_expiration_max_pain_distance_pct":2.1691309199686453,"all_expiration_max_pain":64,"net_gamma_exposure":-19857321.453201376,"net_gamma_exposure_per_100k_open_interest":-9205990.47436318,"gamma_exposure_flip":null,"gamma_exposure_flip_distance_pct":null,"call_wall":65,"call_wall_distance_pct":2.1691309199686453,"put_wall":59,"put_wall_distance_pct":-7.261865780336153,"gamma_max_cross_direction":null,"delta_neutral_cross_direction":null,"open_interest_rank":375},"history_summary":{"first_date":"2020-12-01","last_date":"2026-10-16","session_count":1404,"trailing_window_sessions":252,"sessions_above_gamma_max_pct":0,"gamma_max_cross_count":0,"delta_neutral_cross_count":13,"gamma_max_prior_sessions_closer_pct":98.01587301587301,"gamma_max_prior_comparison_sessions":252,"delta_neutral_prior_sessions_closer_pct":71.03174603174604,"delta_neutral_prior_comparison_sessions":252,"open_interest_percentile_1y":71.03174603174604,"open_interest_change_1d_contracts":-309,"open_interest_change_z_252":-0.09188917394847639,"open_interest_change_z_comparison_sessions":252,"open_interest_change_5_sessions_pct":39.896877128125304,"open_interest_change_21_sessions_pct":38.78522712649595,"call_put_open_interest_changes":{"one_session":{"call_change_contracts":-154,"put_change_contracts":-155,"call_growth_pct":-0.7052573731452647,"put_growth_pct":-0.07982572242278792,"call_minus_put_growth_pp":-0.6254316507224768},"five_sessions":{"call_change_contracts":1596,"put_change_contracts":59919,"call_growth_pct":7.945832918450662,"put_growth_pct":44.682659825949486,"call_minus_put_growth_pp":-36.73682690749882},"call_change_surprise":{"z_score":-0.05345182033594603,"comparison_sessions":252},"put_change_surprise":{"z_score":-0.08465344508938343,"comparison_sessions":252},"call_minus_put_growth_surprise":{"z_score":-0.01693020762057805,"comparison_sessions":252}}},"advanced_options":{"data_through":"2026-10-16","analysis_coverage":1,"catalyst_score":32.70185008314954,"directional_score":-11.680327868852464,"catalyst_reasons":[],"features":{"price":63.62,"totalOi":216137,"analysisCoverage":1,"avgIvPct":85.6,"ivRank":77,"iv52wHighPct":102.4,"iv52wLowPct":29.4,"frontDte":35,"termPremiumPp":-0.3003,"riskReversalFrontPp":-4.63,"riskReversal30dPp":-4.63,"butterflyFrontPp":7.74,"butterfly30dPp":7.74,"putCallOiRatio":8.826,"putCallOiFrontRatio":1.286,"putCallVolumeFrontRatio":0.865,"optionVolume":412,"volumeOiRatio":0.001906,"netDeltaNormalized":-0.136136,"dealerDeltaNormalized":0.136112,"gexPer100kOi":-5420085.66326,"vannaPer100kOi":10927.3285,"charmPer100kOi":0,"weekendDeltaShiftPer100kOi":0,"ivSurfaceRangePp":61.4,"gammaFlipDistancePct":null,"maxPainDistancePct":0.597296,"peakCallDistancePct":0.597296,"peakPutDistancePct":-0.974536},"complete_analysis_url":"https://halfonadouble.com/api/v1/analysis/KBE.json?date=2026-10-16&public_schema=4","interpretation":"Catalyst intensity ranks unusual option pricing and activity; it does not identify the event, predict direction or recommend a trade. Directional score summarizes relative positioning under documented model conventions."},"gamma_max_cross_outcomes":[{"direction":"above","event_count":18,"completed_path_count":18,"latest_cross_date":"2025-09-18","horizons":[{"sessions":1,"sample_size":18,"median_return_pct":-0.008496547848074743,"p25_return_pct":-0.4791801914886207,"p75_return_pct":0.9492642258049078,"above_zero_pct":44.44444444444444,"median_interval_low_pct":-0.13688914825001897,"median_interval_high_pct":0.6500399832828796,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0},{"sessions":3,"sample_size":18,"median_return_pct":-0.08501251815851707,"p25_return_pct":-0.7163626321034594,"p75_return_pct":1.6383800296009499,"above_zero_pct":50,"median_interval_low_pct":-0.6213228728961684,"median_interval_high_pct":0.9887911521152537,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0},{"sessions":5,"sample_size":18,"median_return_pct":0.5444803308706114,"p25_return_pct":-1.1346250578138983,"p75_return_pct":2.795065962651816,"above_zero_pct":55.55555555555556,"median_interval_low_pct":-1.1213045201634575,"median_interval_high_pct":1.6932481637030206,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0},{"sessions":10,"sample_size":18,"median_return_pct":0.3777052624905797,"p25_return_pct":-0.7356920592300975,"p75_return_pct":1.7963354427686262,"above_zero_pct":55.55555555555556,"median_interval_low_pct":-0.6878787882763748,"median_interval_high_pct":1.0541150880530203,"median_interval_nominal_coverage_pct":90.374755859375,"confidence_floor_pct":0}]},{"direction":"below","event_count":17,"completed_path_count":17,"latest_cross_date":"2025-09-19","horizons":[{"sessions":1,"sample_size":17,"median_return_pct":0.6168619029927047,"p25_return_pct":-0.3753256312303166,"p75_return_pct":0.9615415019712747,"above_zero_pct":64.70588235294117,"median_interval_low_pct":-0.3753256312303166,"median_interval_high_pct":0.9615415019712747,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":3,"sample_size":17,"median_return_pct":0.6509031285809819,"p25_return_pct":-1.010966666239621,"p75_return_pct":1.8676901339238938,"above_zero_pct":52.94117647058824,"median_interval_low_pct":-1.010966666239621,"median_interval_high_pct":1.8676901339238938,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":5,"sample_size":17,"median_return_pct":-0.2315187478456715,"p25_return_pct":-1.096640477990185,"p75_return_pct":1.7605057609110908,"above_zero_pct":47.05882352941176,"median_interval_low_pct":-1.096640477990185,"median_interval_high_pct":1.7605057609110908,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0},{"sessions":10,"sample_size":17,"median_return_pct":-0.17950491602934937,"p25_return_pct":-1.7699066210642878,"p75_return_pct":0.6133934578194555,"above_zero_pct":41.17647058823529,"median_interval_low_pct":-1.7699066210642878,"median_interval_high_pct":0.6133934578194555,"median_interval_nominal_coverage_pct":95.0958251953125,"confidence_floor_pct":0}]}],"missing_value_semantics":"null means unavailable; it never means zero","interpretation":"These are descriptive end-of-day model outputs. Signed GEX uses the published call-positive, put-negative convention and is not observed dealer inventory. None of the fields are live prices, predictions or investment advice."}