9 consecutive sessions in contango (the normal upward slope).
Skew · risk reversal
25-delta5d old
-1.1 pts
own all (<3y) 75.7% · n=35
10-delta5d old
-0.1 pts
own all (<3y) 84.3% · n=35
Skew has been collected since 2026-07-30 only: the vendor serves no earlier history, so each percentile here is taken over all of it - the few weeks of readings there are, which the n beside it counts.
Smile by expiry: the 8 expiries within 120 DTE carrying the most open interest · book as of 2026-09-18
7d2026-09-25 · short
Expiry window · 35–65 DTE
Next earnings: 2026-12-01 time unknown, stated by the vendor's estimate, first moves the 2026-12-01 session, no expected move served. As the vendor's calendar stood on 2026-09-23, not on the page's date.
Book as of 2026-09-18: 2 sessions behind 2026-09-22: no MRVL chain statistics (net_gex) dated after 2026-09-18 are knowable as of 2026-09-22, and no ticker has newer ones. The strikes drawn below are 2026-09-18's rows as stored now; the levels and statistics are the readings dated 2026-09-18, computed from those rows when the readings were derived, and a fetch of 2026-09-18 after that can revise rows. Open interest is what entered 2026-09-18 (OCC's settlement of 2026-09-17), valued at the 2026-09-18 close.
net GEX · carried book
+$51.9m per 1%
own all (<3y) 76.2% · n=65
gamma flip
$222.08
flip within ±25% of book spot
flip distance
-1.80 ATR
own all (<3y) 15.1% · n=63
low 43.0%243 sessions, all (<1y) · today 67.6%high 110.5%
━ 2026-09-22┅ 2026-08-21 (21 sessions earlier)◆ scheduled release, at the first tenor spanning it■ earnings, at the first session it can move (□ no expected move served)tenors in calendar days, log scale
Scheduled after the 2026-09-22 close, from the 2026-09-22 calendar snapshot (forecasts as they stood then). Each is marked with the shortest tenor, in calendar days, that spans it:
Wed 09-23 09:45 · 1d US Flash Services PMI (September) · f 55.9 · prev 56.8
Wed 09-23 09:45 · 1d US Flash Manufacturing PMI (September) · f 53.5 · prev 53.2
Thu 09-24 08:30 · 2d Economic Club of Washington, DC event with Federal Reserve Bank of Richmond President Thomas Barkin
Fri 09-25 08:30 · 3d Durable Goods (August) · f -0.3% · prev 1.1%
Fri 09-25 10:00 · 3d U. Michigan Final Consumer Survey (September) · f 47.1 · prev 51.7
Earnings: 2026-12-01 time unknown, stated by the vendor's estimate, first moves the 2026-12-01 session (70d on the tenor axis), no expected move served. As the vendor's calendar stood on 2026-09-23, not on the page's date.
90-day IV
69.1%
own all (<3y) 62.3% · n=243
slope, 30d − 90d
-1.5 pts
own all (<3y) 37.7% · n=243
variance risk premium, 30d
+9.7 pts
own all (<3y) 72.9% · n=238
14d2026-10-02
21d2026-10-09
28d2026-10-16
35d2026-10-23
63d2026-11-20
91d2026-12-18
119d2027-01-15
IV against strike, out-of-the-money side. Each window widens with √DTE, to ±25% at the longest expiry, so every panel shows a comparable slice of its smile; all share one IV scale (58%–69%), set by the expiries past 7 DTE.
DTE counts calendar days from 2026-09-22, the page's date and the earliest an entry could be made - not from the 2026-09-18 book the expiries and IVs come from, which would overstate it by 4 days; an expiry first listed after 2026-09-18 is not in the book and not here. A premarket report moves its own session and a postmarket one the next; one with no stated time is placed at the earlier of the two - or at the later, once the earlier is already in the 2026-09-22 close - so an expiry can be called spanning when it might not be, never the reverse. "spans +N": the expiry settles N calendar days after that session, and the line under it says whether the 28-DTE exit comes before it ("inside the exit": that date is already behind 2026-09-22, so it protects nothing); "clear N": it settles N days before it. Thesis = DTE − 28 (the hard exit is 21), cut to the last session before a report that comes first. Every expiry in the band is listed, and one that is not a third Friday is marked weekly — §1 of the trading rules admits no weeklies and no 0DTE, so those rows are context, not candidates; the mark is the calendar test on the date alone, and a monthly pulled back to a Thursday by a holiday carries it too. ATM IV is the vendor's at the 2026-09-18 close, on the out-of-the-money side of the listed strike nearest book spot: a display selection, not a statistic, read at that one strike, so "no IV at X" is about X and not about its neighbours. The expected move is the vendor's, for the report the expiry spans. Every row links to that expiry on the strike axis below.
0DTE share of volume
not listed daily
book spot $244.25 (unadjusted close, 2026-09-18) · call wall $250.00 (+2.35% from book spot) · put wall $200.00 (-18.12% from book spot) · max pain $230.00 (-5.83% from book spot, 2026-10-16 monthly)
Each level is stored as a distance from the book's own spot, so each is drawn at $244.25 × (1 + that distance) - the 2026-09-18 unadjusted close, the price the chain was taken at. That is why two prices appear on this page. MRVL headlines $262.36, its newest unadjusted close, on 2026-09-22; the book was taken at $244.25 on 2026-09-18, because the book trails the page by the 2 sessions counted above. Both are closes, both are dated, and neither is adjusted. Recomputing a wall on the newer close would put it at a level this book never had, so none of these is: they are the 2026-09-18 book's levels, on the 2026-09-18 close.
Dashed: 7 DTE or less, where the vendor's gamma is noisy. "mp": the monthly max pain describes.
7 DTE: at 7 days or less the vendor's gamma scatters - SPY's 3-DTE contracts sat at 0.38× a model reprice at the 10th percentile (2026-09-11) - so read this expiry's per-strike GEX as rough.
Tradability of the 2026-09-25 expiry: 3 calendar days from 2026-09-22 (7 from the book date), outside the owner's 35–65 DTE entry window. Spreads are the NBBO stored with the 2026-09-18 chain snapshot - not a live quote, and not DESIGN J's quote at a trade (per-trade quotes are not collected) - as a percent of mid; a zero or missing bid, or a crossed quote, is drawn as × for no two-sided quote. The owner's floors are marked and filter nothing: spread 10% of mid, OI 500, and the strike nearest 0.20 delta on each side - call 262.5 (Δ 0.21), put 227.5 (Δ -0.19).
call put OI carried through 2026-09-17 · opened by 2026-09-17's trading · closed by it / net GEX long / short gammabook spotcall wallput wallmax paingamma flipfloors, marked not filtered: spread 10% of mid · OI 500 · ▸◂ strike nearest 0.20 delta, beside the spread panel · × no two-sided quote · | spread past 25%
2026-09-25 expiry, 48 strikes within ±25% of book spot (the flip search band); 30 hidden (11 above, 19 below), 30 of them with open interest. One row per listed strike: rows are evenly spaced, prices are not. Net GEX is this expiry's alone (+$14.7m per 1% in all); the walls, flip and headline sum every carried expiry. Volume is 2026-09-18's own - whether it opened positions shows in the 2026-09-21 book's change.
max pain $230.00 belongs to the 2026-10-16 monthly (28 days from 2026-09-18, as max_pain_expiry_dte stores it: the nearest monthly at least 7 days out), not to this expiry.
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