SMH Options Chain by Expiration – Open Interest & Put/Call Ratio

Explore the SMH options chain aggregated by expiration date, with call and put open interest, total OI and put/call ratios. Use this overview to spot where options positioning is most concentrated and which expirations carry bullish, bearish or neutral sentiment for SMH.

Options Analysis Short-Term Forecast Short Interest Report

Market Sentiment from SMH Options by Expiration Date

The table below aggregates SMH options data by expiration date, including call volume, put volume, total open interest and the put/call ratio. Each row is assigned a sentiment label and numerical sentiment score, highlighting expirations where positioning is extremely bullish, defensive or balanced. Click on an expiration date to drill down into the detailed options chain for that maturity.

Expiration Date	Call OI	Put OI	Total Open Interest	Put/Call Ratio
2026-02-06	23145	106760	129905	4.613
2026-02-13	13140	97706	110846	7.436
2026-02-20	81845	118576	200421	1.449
2026-02-27	6303	108365	114668	17.193
2026-03-06	1520	2785	4305	1.832
2026-03-13	672	639	1311	0.951
2026-03-20	125658	192416	318074	1.531
2026-03-27	13	55	68	4.231
2026-04-17	31055	22892	53947	0.737
2026-05-15	9740	9125	18865	0.937
2026-06-18	36285	94495	130780	2.604
2026-07-17	1104	1685	2789	1.526
2026-08-21	1352	3642	4994	2.694
2026-09-18	10139	21502	31641	2.121
2026-12-18	19002	27028	46030	1.422
2027-01-15	13657	41198	54855	3.017
2027-06-17	2851	4177	7028	1.465
2027-09-17	381	314	695	0.824
2027-12-17	5434	10538	15972	1.939
2028-01-21	3636	5688	9324	1.564
2028-12-15	1430	325	1755	0.227
How the Options Sentiment Score Is Calculated This sentiment framework evaluates market bias for SMH based on aggregated options data by expiration date. The key metrics are: Put/Call Ratio (PCR): Compares put and call activity. A higher PCR usually indicates more defensive or bearish positioning, while a lower PCR suggests bullish call demand. Open Interest (OI): Represents the number of outstanding option contracts. Higher open interest reflects strong market attention, hedging activity or speculative positioning around SMH. Unusual activity ⚠️: Expirations with extreme PCR or unusually high OI are flagged with a warning icon, signaling concentrated bets, hedging pressure or potential event-driven risk. The sentiment score combines PCR and OI into a 0–100 scale, then classifies each expiration into intuitive labels such as Strong Bullish, Moderate Bullish, Neutral, Moderate Bearish, Strong Bearish. Higher scores reflect more aggressive bullish positioning in SMH options, while lower scores highlight more defensive or bearish structures.