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AAPL

Apple Inc.Close $297.01EOD only
Max Pain
$295.00
Next expiry Jun 24, 2026
Expected Move
±$4.64
1.6% from close
Price Gap
-2.01
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.69
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 22, 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 22, 2026 close
AAPL Earnings Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AAPL earnings 7/30, 100% beat rate, 37 days out, unusual far OTM put activity.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.1% from MP; +0.5 VIX 19
Most important: Large puts at $297.5 and $300 (deep OTM) may be speculative or hedged; spot ~$214.
📉Unusual put buying at $297.5 and $300 (deep OTM) suggests hedging or speculation, not immediate directional signal.
🎯Max pain at $214 for 7/26 expiry aligns with current spot.
📊100% beat rate over last 5 quarters, but far from next report.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,664 (18.5% below spot)

Earnings Overview

Next earnings: 2026-07-30 (37 days)explicit

Expected moves:

  • 2026-06-24 (1d): ±$3.59 (1.2%)
  • 2026-06-26 (3d): ±$6.43 (2.2%)
  • 2026-06-29 (6d): ±$7.62 (2.6%)

IV Setup

Term structure: Normal contango, near-dated IV low (1.2% implied 1d).

Crush estimate: N/A - too far from earnings.

Skew: Put skew elevated at far OTM strikes from unusual prints.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not available for this timeframe.

Directional bias: Bullish - 100% beat rate over last 5 quarters.

Key Levels

1$240.00 gamma flip
2EM guardrails: 2d $290.70/$297.89; 1w $286.67/$301.92
3Max pain pins: $298 (2026-06-24); $298 (2026-06-26); $295 (2026-06-29)

Flow Highlights

Unusual put volume at $297.5 (53,632 vols, 26.3x OI) and $300 (28,111 vols), both far above spot ~$214.

Likely hedging by large holders or speculative bets on a drop; not typical directional flow.

Large call volume at $300 (72,077 vols) and $302.5 (52,808 vols), also far OTM.

Speculative upside bets or gamma scalping; unlikely to be actionable near term.

Strategies

Bull Call Spread
Buy 2026-07-31 $310.00/$325.00 call spread
Debit: $2.61-$3.18
Max loss: $3.18
Max gain: $11.82
BE: $313.18
Trigger: Exit if spot breaks below $282 or after earnings.
Aligns with 100% beat rate and bullish bias; defined risk and low cost.
Outperforms: Buy $310/$325 call spread to capture upside from earnings beat.
Underperforms: Loss of support weakens upside continuation thesis.
Long Strangle
Buy 2026-07-31 $275.00 put + buy $320.00 call
Debit: $4.95-$6.04
Max loss: $6.04
Max gain: Unlimited
BE: 268.96 / 326.04
Trigger: Hold through earnings; close if IV crushes or spot stays tight.
Exploits far OTM put activity and potential IV expansion; unlimited upside.
Outperforms: Buy $275 put and $320 call to profit from large move or volatility.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Tech selloff spillover (QQQ -3.3%).
!Gamma flip risk if spot breaks below $210 or above $220.
!IV crush post-earnings if move smaller than implied.

What to Watch

?Spot vs max pain $214 (7/26 expiry).
?EM guardrails $210.70/$217.89.
?Persistence of far OTM put activity.
How to Use These Reports
This earnings reflects the market close on June 23, 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.