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AAPL

Apple Inc.Close $302.25EOD only
Max Pain
$292.50
Next expiry May 22, 2026
Expected Move
±$4.44
1.5% from close
Price Gap
-9.75
Distance to max pain
IV Rank
22
Low premium
P/C OI
0.70
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: May 20, 2026 close
End-of-day snapshot

This page reflects AAPL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
May 20, 2026 close
AAPL Earnings Report
Analysis based on market close May 20, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Earnings Verdict

AAPL near-term options show bullish call volume and put pinning near $300-$302.5. Earnings 71 days away not a factor.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 17
Most important: 0dte gamma pinning and unusual put activity near $300.
📊Massive 0dte put flow at $302.5 and $300 suggests bearish hedge or pinning.
📈Call volume at $300 and $302.5 0dte shows bullish demand.
⚠️0dte gamma flip at $240 is far, but put floor may act as support.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$240.00 — Approx — based on put OI concentration of 58,176 (20.6% below spot)

Earnings Overview

Next earnings: 2026-07-30 (71 days)explicit

Expected moves:

  • 2026-05-22 (2d): ±$4.44 (1.5%)
  • 2026-05-26 (6d): ±$5.96 (2.0%)
  • 2026-05-27 (7d): ±$6.85 (2.3%)

IV Setup

Term structure: Front-end IV low (2-7% 0dte), steepens to ~20% 2dte and ~19% 1w.

Crush estimate: No earnings event; no crush.

Skew: Put skew elevated at $297.5-$300; put floor at $240.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Earnings history shows 100% beat rate; avg move not applicable for current setup.

Directional bias: Bullish from call OI walls and net premium inflow.

Key Levels

1$240.00 gamma flip
2EM guardrails: 2d $297.81/$306.69; 1w $296.29/$308.21
3Max pain pins: $295 (2026-05-20); $292 (2026-05-22); $295 (2026-05-26)

Flow Highlights

Unusual 0dte put volume at $302.5 (93x OI) and $300 (28x OI).

Hedging or pinning activity near spot.

Strong call volume at $300 and $302.5 0dte.

Bullish sentiment or gamma positioning.

Notable 2dte put volume at $300 and $297.5.

Protection into weekly expiry.

Strategies

Bullish Call Diagonal
Sell 2026-05-29 $310.00 call / buy 2026-07-17 $300.00 call
Debit: $10.53-$12.88
Max loss: $12.88
Max gain: Variable
BE: Path-dependent
Trigger: Roll if short call tested; exit if underlying breaches $295.
Aligns with bullish bias and term structure steepness.
Outperforms: Sell short-term call, buy longer-dated call to capture premium decay and upside.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Range-Bound Iron Condor
Sell 2026-05-29 $295.00/$290.00 put wing and $310.00/$315.00 call wing
Credit: $1.49-$1.83
Max loss: $3.17
Max gain: $1.83
BE: 293.17 / 311.83
Trigger: Adjust wings if pinning breaks; monitor gamma risk.
Captures premium from pinning action; lower risk.
Outperforms: Sell OTM put and call wings for theta decay.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!0dte gamma pinning near $300-$302.5 may cause rapid moves.
!Put OI wall at $240 provides downside support.
!Call OI wall at $320 caps upside but not near term.

What to Watch

?0dte expiry: pin action at $300 and $302.5.
?2dte $300 put open interest (2,577).
?Weekly $307.5 call activity for upside bias.
How to Use These Reports
This earnings reflects the market close on May 20, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.