(SMH)
SMH Daily Gamma Exposure
Current Gamma Exposure (GEX) is -83.5K, which is 327% below the 3M average of 36.85K. Over this period, GEX peaked at 225.59K on Aug 13, 2025 and bottomed at -298.02K on Aug 7, 2025, showing a shift between positive and negative gamma regimes. The exposure has been increasing recently, signaling a shift in market maker hedging dynamics. Today's put-call gamma ratio of 1.09 is elevated versus the recent average of 1.05, suggesting increased put hedging. High GEX volatility (±91.74K) suggests frequent repositioning and potential regime changes.
GEX History
| Date | Call GEX | Put GEX | Net GEX | P/C GEX |
|---|---|---|---|---|
| Aug 14, 2025 | 927,118.9 | -1,010,615.6 | -83,496.7 | 1.09 |
| Aug 13, 2025 | 1,007,048.21 | -781,459.34 | 225,588.87 | 0.78 |
| Aug 12, 2025 | 978,823.9 | -808,086.75 | 170,737.15 | 0.83 |
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