$605 · Sep 25 · 29Δ
$8.93 premium · 21%/yr annualized
$SMH
VanEck Semiconductor ETF · Semis ETF
▲ +11.39 (+2.05%)
VanEck Semiconductor ETF · Semis ETF
Regime balanced · no clear edge from positioning.
Each wall is the strike carrying the heaviest open interest within 15% of price, call above as resistance, put below as support, pooled across all listed expirations. It is a structural positioning level, not a single expiry pin. Max pain is tracked separately.
The Read
$SMH is in a neutral regime at heat 43, which keeps moves steady and dealer positioning balanced. The $650 call wall has held 4 sessions running, while the $550 put remains untested yesterday; dealers are likely to defend these levels given their strong track record. Spot sits 4.7% below the $657.44 gamma flip, so any push higher could see further upside momentum.
Where the market is positioned
Risk-neutral, implied by options pricing. Where the market is positioned, not a forecast.
Talk to the oracle
Free. No login. Real dealer positioning on $SMH, scored over a year of outcomes.
$605 · Sep 25 · 29Δ
$8.93 premium · 21%/yr annualized
$547.5 · Sep 25 · 30Δ
$11.75 premium · 28%/yr annualized
Not investment advice · Informational only
Over the last 21 sessions · n=28
$600 call wall
held 6 sessions running
Free alert
We DM you when the $600 call wall or the $500 put wall breaks. No noise, just the break.
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Free alert
We DM you when the $600 call wall or the $500 put wall breaks.
…
Alert set
We'll DM you when the $600 call wall breaks. Rest easy.
Scored Levels
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