SMH Options
SMH $544.86 · Updated Oct 26, 4:00 PM ET
SMH is at $544.86. The nearest expiration, Oct 28, 2026 (2 days out), lists 107 strikes, with 6,533 calls and 8,674 puts traded in the latest session. At-the-money implied volatility is 44.2%. The at-the-money straddle prices a move of about $14.40 (2.6%) by expiration.
SMH Options Chain
SMH is at $544.86. The nearest expiration, Oct 28, 2026 (2 days out), lists 107 strikes, with 6,533 calls and 8,674 puts traded in the latest session. At-the-money implied volatility is 44.2%. The at-the-money straddle prices a move of about $14.40 (2.6%) by expiration.
SMH Gamma Exposure (GEX)
SMH total dealer gamma exposure is -$403M across all listed expirations. Negative GEX means dealers are net short gamma; their hedging tends to amplify price moves. The gamma flip is $562.49, with spot 3.1% below it. The call wall is $625.00 and the put wall $530.00.
SMH Max Pain
SMH max pain for Oct 28, 2026 (2 days out) is $530.00, 2.7% below the current $544.86. That is the settlement price at which the open contracts on that date would pay holders the least. For Nov 27, 2026, max pain is $560.00.
SMH Put/Call Ratio
Across every listed SMH expiration, the put/call ratio is 2.35 by volume and 1.38 by open interest. More puts than calls are trading, a defensive tilt. 888,640 puts and 642,203 calls are open in total.
SMH Implied Volatility
SMH at-the-money implied volatility is 44.2% for Oct 28, 2026 (2 days out). For Nov 27, 2026 it is 38.0%. Near-term volatility is priced above longer-dated volatility, an inverted term structure that usually accompanies an event or stress.
SMH Open Interest by Strike
Across all SMH expirations, the largest call open interest near the current $544.86 sits at the $625.00 strike (64,833 contracts) and the largest put open interest at $500.00 (60,349). 642,203 calls and 888,640 puts are open in total.
SMH Expected Move
The options market prices SMH to move about $14.40 (2.6%) by Oct 28, 2026, a range of $530.46 to $559.26. For Nov 27, 2026 (32 days out) the expected move is $48.75 (8.9%).