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AAPL

Apple Inc.Close $291.13EOD only
Max Pain
$292.50
Next expiry Jun 15, 2026
Expected Move
±$3.87
1.3% from close
Price Gap
+1.37
Distance to max pain
IV Rank
56
Middle-high premium
P/C OI
0.71
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 12, 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
Jun 12, 2026 close
AAPL Earnings Report
Analysis based on market close June 11, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 11, 2026. A newer earnings report is available for June 12, 2026.

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Earnings Verdict

AAPL near max pain $295 with bullish flow but heavy put hedging at $290-$295; earnings 49 days away, 100% beat rate.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.2% from MP; +0.5 VIX 19
Most important: Gamma pinning at $295 and put wall at $290 are key; call resistance $300.
⚠️Large put buys at $290/$292.5/$295 suggest hedging or bearish view near max pain.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
At
Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,751 (18.8% below spot)

Earnings Overview

Next earnings: 2026-07-30 (49 days)explicit

Expected moves:

  • 2026-06-12 (1d): ±$3.65 (1.2%)
  • 2026-06-15 (4d): ±$5.45 (1.8%)
  • 2026-06-17 (6d): ±$7.47 (2.5%)

IV Setup

Term structure: Front-week elevated (IV ~22-24%); back-month normal contango; earnings-dated IV not yet priced.

Crush estimate: Not applicable for earnings event as 49 days out.

Skew: Put skew elevated at $290-$295 due to aggressive hedging; call skew flat.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: N/A for this event (far out).

Directional bias: Neutral to bearish based on put hedging; but historical beat rate suggests upside risk.

Key Levels

1$240.00 gamma flip
2EM guardrails: 2d $291.98/$299.28; 1w $288.16/$303.11
3Max pain pins: $295 (2026-06-12); $292 (2026-06-15); $298 (2026-06-17)

Flow Highlights

Unusual put volume at $290 (75k vs OI 8.4k) for June 12 expiry.

Bearish hedging or gamma positioning, likely related to max pain.

Net premium positive $197M with low P/C volume ratio 0.65.

Overall bullish flow despite put activity, but put OI suggests a floor.

Strategies

Long Strangle
Buy 2026-08-21 $295.00 put + buy $300.00 call
Debit: $22.37-$27.34
Max loss: $27.34
Max gain: Unlimited
BE: 267.66 / 327.34
Trigger: Close before earnings to avoid crush or adjust deltas.
Earnings 49 days out, IV low; beat rate and put hedging create uncertainty favoring long vol.
Outperforms: Buy $295 put and $300 call for earnings move.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Risk of pinning at $295 max pain on expiry.
!Elevated put OI at $290 acts as strong support but also downside gamma risk.
!Call resistance at $300 and wall at $320-$350 could cap upside.

What to Watch

?$295 level for pinning action.
?$300 resistance and volume profile.
?Any shift in put/call ratios in weekly expirations.
How to Use These Reports
This earnings reflects the market close on June 11, 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.