Reading the market regime before prices move
Reading the market regime before prices move
Every number here is computed from the traded SMH options chain. The call wall is where dealer hedging accumulates above spot and caps upside, the put wall is its mirror below, and the gamma flip is the level where hedging stops damping moves and starts amplifying them.
Computed
Last completed session, from the Finviro engine close archive · today's session levels refresh every five minutes inside the platform.
Price moves between these levels whether you see them or not. The difference is knowing them before your decision, not after.
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VanEck Semiconductor ETF is an exchange-traded fund, listed since 2000, with about $74.49B in assets. The fund's price follows what it holds, so it moves with its basket, not with one company.
The VanEck Semiconductor ETF (SMH) strives to mirror, as closely as feasible, the price and yield performance of the MVIS US Listed Semiconductor 25 Index (MVSMHTR), prior to the assessment of any fees or expenses. This underlying index is designed to reflect the comprehensive performance of businesses engaged in the manufacturing of semiconductors and related equipment.
Its beta is 1.98: the fund usually moves more than the broad market, with wider swings up and down.
On the price was $556.70, below its 50-day simple average (DMA-50 at $577.88) by 3.7%, and above its 200-day average (DMA-200 at $513.15) by 8.5%. Above the 200-day and below the 50-day: the long trend is up and the near-term move has pulled back.
A fund does not publish earnings and revenue statements like a company, so its numbers are read from its assets and its price.
These numbers describe the fund's size and nature and change slowly, while gamma levels describe how the fund moves within the session.
