# KHC: options-positioning snapshot

Canonical: https://halfonadouble.com/stock/KHC
Data through: 2026-10-16 close
Publisher: Half on a Double

| Published field | Value |
| --- | --- |
| Close (USD/share) | 23.68 |
| Delta neutral (USD/share) | 23.00 |
| Gamma neutral (USD/share) | 23.68 |
| Gamma max (USD/share) | 23.80 |
| Open interest (contracts) | 349,038 |
| Nearest-expiration max pain (USD/share) | 22.50 (2026-10-23) |
| All-expiration max pain (USD/share) | 23.00 |
| Net gamma exposure | 53,428,696 |
| Call wall (USD/share) | 23.50 |
| Put wall (USD/share) | 22.50 |
| Put/call open-interest ratio | 0.55 |
| Options catalyst-intensity score (0–100) | 57.3 |
| Options directional score (-100 to +100) | 31.1 |
| IV rank | 98.8 |
| Front-minus-back IV | -0.7 pp |
| Front 25-delta risk reversal | -99.9 pp |
| Call OI change, 1 session | -40,339 contracts · -15.2% |
| Put OI change, 1 session | -22,352 contracts · -15.3% |
| Call minus put OI growth, 1 session | +0.1 pp |
| Call OI change, 5 sessions | -23,925 contracts · -9.6% |
| Put OI change, 5 sessions | -15,549 contracts · -11.1% |
| Call minus put OI growth, 5 sessions | +1.5 pp |
| Daily call OI change surprise | -1.85σ (252 prior changes) |
| Daily put OI change surprise | -2.88σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.05σ (252 prior changes) |
| Daily open interest change (contracts) | -62,691 |
| Daily open interest change z-score (prior 252) | -2.26σ (252 prior changes) |
| Gamma max distance from close | +0.5% |
| Delta neutral distance from close | -2.9% |
| Prior-year sessions closer to gamma max | 6.0% of 252 |
| Prior-year sessions closer to delta neutral | 49.6% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 37 | +0.6% | -0.3% to +1.2% | 70% | +0.2% to +0.9% | +0.2% |
| above | Day +3 | 37 | +0.3% | -1.3% to +1.3% | 57% | -0.4% to +0.6% | 0.0% |
| above | Day +5 | 36 | -0.2% | -1.6% to +2.4% | 47% | -1.2% to +1.6% | 0.0% |
| above | Day +10 | 36 | +1.6% | -3.9% to +3.1% | 56% | -2.0% to +2.5% | 0.0% |
| below | Day +1 | 38 | -0.2% | -1.0% to +0.1% | 34% | -0.7% to 0.0% | 0.0% |
| below | Day +3 | 38 | -0.4% | -0.7% to +1.2% | 47% | -0.6% to +0.5% | 0.0% |
| below | Day +5 | 38 | +0.1% | -2.4% to +2.0% | 53% | -1.4% to +1.1% | 0.0% |
| below | Day +10 | 38 | +0.3% | -2.3% to +2.3% | 50% | -0.8% to +1.8% | 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/KHC.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/KHC.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/KHC.json?date=2026-10-16&public_schema=4)

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

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