# KWEB: options-positioning snapshot

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

| Published field | Value |
| --- | --- |
| Close (USD/share) | 24.41 |
| Delta neutral (USD/share) | 24.23 |
| Gamma neutral (USD/share) | 20.72 |
| Gamma max (USD/share) | 27.62 |
| Open interest (contracts) | 2,127,849 |
| Nearest-expiration max pain (USD/share) | 24.50 (2026-10-23) |
| All-expiration max pain (USD/share) | 25.00 |
| Net gamma exposure | 100,237,519 |
| Confirmed GEX flip (USD/share) | 20.72 |
| Call wall (USD/share) | 24.00 |
| Put wall (USD/share) | 24.00 |
| Put/call open-interest ratio | 0.37 |
| Options catalyst-intensity score (0–100) | 31.7 |
| Options directional score (-100 to +100) | 16.3 |
| IV rank | 41.0 |
| Front-minus-back IV | -3.0 pp |
| Front 25-delta risk reversal | 1.6 pp |
| Call OI change, 1 session | -169,199 contracts · -9.8% |
| Put OI change, 1 session | -51,209 contracts · -8.2% |
| Call minus put OI growth, 1 session | -1.6 pp |
| Call OI change, 5 sessions | -100,855 contracts · -6.1% |
| Put OI change, 5 sessions | -21,125 contracts · -3.6% |
| Call minus put OI growth, 5 sessions | -2.5 pp |
| Daily call OI change surprise | -1.09σ (252 prior changes) |
| Daily put OI change surprise | -0.86σ (252 prior changes) |
| Daily call-minus-put growth surprise | -0.52σ (252 prior changes) |
| Daily open interest change (contracts) | -220,408 |
| Daily open interest change z-score (prior 252) | -1.09σ (252 prior changes) |
| Gamma max distance from close | +13.1% |
| Delta neutral distance from close | -0.7% |
| Prior-year sessions closer to gamma max | 50.4% of 252 |
| Prior-year sessions closer to delta neutral | 14.3% of 252 |

## Historical gamma-max cross outcomes

| Direction | Horizon | n | Median | Middle 50% | Above zero | Nominal ≥90% median interval | Confidence floor |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: |
| above | Day +1 | 13 | -0.3% | -1.0% to +0.5% | 46% | -1.0% to +0.5% | 0.0% |
| above | Day +3 | 13 | +0.0% | -1.4% to +6.3% | 54% | -1.4% to +6.3% | 0.0% |
| above | Day +5 | 13 | +0.8% | -4.5% to +7.6% | 54% | -4.5% to +7.6% | 0.0% |
| above | Day +10 | 13 | -1.3% | -6.3% to +6.6% | 46% | -6.3% to +6.6% | 0.0% |
| below | Day +1 | 12 | +0.7% | -0.8% to +2.3% | 58% | -1.0% to +3.3% | 0.0% |
| below | Day +3 | 12 | +3.4% | +0.3% to +5.6% | 75% | -1.2% to +5.6% | 0.0% |
| below | Day +5 | 12 | +0.8% | -6.8% to +6.0% | 50% | -7.1% to +6.3% | 0.0% |
| below | Day +10 | 12 | -0.4% | -8.4% to +5.3% | 50% | -13.8% to +12.2% | 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/KWEB.json)
- [Historical CSV](https://halfonadouble.com/api/v1/history/KWEB.csv)
- [Public aggregate analysis](https://halfonadouble.com/api/v1/analysis/KWEB.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).