(SMH)
NASDAQ: SMH
· Real-Time Price · USD
290.29
-8.59 (-2.87%)
At close: Aug 29, 2025, 3:59 PM
290.26
-0.01%
After-hours: Aug 29, 2025, 07:55 PM EDT
SMH Gamma Exposure By Expiry
The total Gamma Exposure (GEX) for SMH across all expirations is -420,013.45 shares per 1% move, with 675,507.3 from calls and 1,095,520.75 from puts. The put-call GEX ratio of 1.62 indicates heavy put positioning, suggesting market makers may need to buy shares on declines (supportive) and sell on rallies (resistance). The highest gamma concentration is at the Sep 12, 25 expiration with -217,772.98 net GEX, which may act as a pivot point for price action. Near-term exposure for Sep 5, 25 suggests possible volatility from negative gamma effects.
SMH GEX Table
| Expiry Date | Call GEX | Put GEX | Net GEX | P/C GEX |
|---|---|---|---|---|
| Sep 5, 25 | 51,653.77 | -92,990.41 | -41,336.64 | 1.80 |
| Sep 12, 25 | 11,709.06 | -229,482.04 | -217,772.98 | 19.60 |
| Sep 19, 25 | 260,620.01 | -403,273.75 | -142,653.74 | 1.55 |
| Sep 26, 25 | 5,015.68 | -20,054.97 | -15,039.29 | 4.00 |
| Oct 3, 25 | 1,093.24 | -2,511.01 | -1,417.77 | 2.30 |
| Oct 10, 25 | 263.93 | -325.04 | -61.11 | 1.23 |
| Oct 17, 25 | 99,072.4 | -97,681.71 | 1,390.69 | 0.99 |
| Nov 21, 25 | 23,645.77 | -51,953.37 | -28,307.6 | 2.20 |
| Dec 19, 25 | 57,255.12 | -43,661.31 | 13,593.81 | 0.76 |
| Jan 16, 26 | 114,278.29 | -97,321.76 | 16,956.53 | 0.85 |
| Feb 20, 26 | 2,496.58 | -3,059.91 | -563.33 | 1.23 |
| Mar 20, 26 | 8,877.05 | -10,284.76 | -1,407.71 | 1.16 |
| May 15, 26 | 0 | 0 | 0 | n/a |
| Jun 18, 26 | 15,789.94 | -21,711.77 | -5,921.83 | 1.38 |
| Sep 18, 26 | 2,875.83 | -2,956.74 | -80.91 | 1.03 |
| Dec 18, 26 | 12,911.99 | -8,490.69 | 4,421.3 | 0.66 |
| Jan 15, 27 | 5,023.65 | -6,289.88 | -1,266.23 | 1.25 |
| Jun 17, 27 | 731.59 | -545.56 | 186.03 | 0.75 |
| Dec 17, 27 | 2,193.4 | -2,926.07 | -732.67 | 1.33 |