thetaOwl
HomeOptionsAAPLReports

AAPL

Apple Inc.Close $298.01EOD only
Max Pain
$295.00
Next expiry Jun 22, 2026
Expected Move
±$3.78
1.3% from close
Price Gap
-3.01
Distance to max pain
IV Rank
100
High premium
P/C OI
0.73
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 18, 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 18, 2026 close
AAPL Earnings Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Strong bullish flow with gamma pinning; earnings 42d away, IV low near-term.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 12.5% from MP; +1 VIX 16
Most important: Unusual 0DTE $297.5 put/call activity implies pinning; call wall $320+ caps upside.
🚀$234M net call premium; bullish flow dominates.
⚠️0DTE $297.5 put printing indicates hedging, not bearishness.
📈100% historical beat rate supports bullish bias.

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 59,714 (19.5% below spot)

Earnings Overview

Next earnings: 2026-07-30 (42 days)explicit

Expected moves:

  • 2026-06-22 (4d): ±$3.78 (1.3%)
  • 2026-06-24 (6d): ±$5.94 (2.0%)
  • 2026-06-26 (8d): ±$7.75 (2.6%)

IV Setup

Term structure: Front-end IV 6-12%, weekly 14-19%, back-month elevated pre-earnings.

Crush estimate: No immediate earnings crush; 42d out.

Skew: Put skew elevated on 0DTE; OTM call skew flat.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: 100% beat rate; typical post-earnings move +2-4% vs ±5% expected.

Directional bias: Bullish bias from consistent beats and revisions.

Key Levels

1$240.00 gamma flip
2EM guardrails: 1w $292.07/$303.96
3Max pain pins: $265 (2026-06-18); $295 (2026-06-22); $290 (2026-06-24)

Flow Highlights

Massive 0DTE $297.5 put opening (93k vol vs 5.5k OI).

Large put selling suggests market makers pinning to max pain.

Call wall at $302.5 and $320-$350 with heavy OI.

Resistance zone; unlikely to break without catalyst.

Strategies

Iron Condor
Sell 2026-07-02 $295.00/$290.00 put wing and $300.00/$310.00 call wing
Credit: $4.14-$5.06
Max loss: $4.94
Max gain: $5.06
BE: 289.94 / 305.06
Trigger: Close if breach of $295 pin level.
Low IV and gamma pin favor range; call wall caps upside.
Outperforms: Sells $295/$290 put and $300/$310 call for credit; benefits from pinning.
Underperforms: Move outside short strikes invalidates range thesis.
Short Strangle
Sell 2026-07-02 $290.00 put + sell $320.00 call
Credit: $2.25-$2.74
Max loss: Unlimited
Max gain: $2.74
BE: 287.26 / 322.74
Trigger: Monitor gamma risk; adjust if move toward strikes.
Wider wings collect premium with support/resistance levels.
Outperforms: Sells $290 put and $320 call; captures time decay with low IV.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Long strangle
Buy 2026-06-26 $287.50 put + buy $300.00 call
Debit: $3.37-$4.12
Max loss: $4.12
Max gain: Unlimited
BE: 283.38 / 304.12
IV term structure flat; distant expiration allows theta mitigation.
Outperforms: Cheaper long-vol structure using OTM strikes.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Spot far from gamma flip ($240); risk of sudden vol expansion.
!VIX at 16 but could spike on macro shocks.
!Earnings 42d away; IV may expand slowly.

What to Watch

?Weekly close vs $295 pin.
?0DTE put activity at $290.
?Call OI accumulation at $320+.
How to Use These Reports
This earnings reflects the market close on June 18, 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.