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AAPL

Apple Inc.Close $294.30EOD only
Max Pain
$297.50
Next expiry Jun 24, 2026
Expected Move
±$3.59
1.2% from close
Price Gap
+3.20
Distance to max pain
IV Rank
1
Low premium
P/C OI
0.69
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 23, 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 23, 2026 close
AAPL Earnings Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AAPL earnings 36 days out, 100% historical beat rate, but current flow bearish with put skew and negative net premium.

Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.5% from MP; +0.5 VIX 19
Most important: High put volume ratio and negative net premium suggest downside hedging ahead of earnings.
🐻Heavy put buying on 0dte contracts signals short-term bearish bias.
📈100% beat rate supports long-term bullish thesis.
⚠️Negative net premium and high put/call ratio indicate hedging flow.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bearish
Spot vs MP
Below
Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,431 (18.1% below spot)

Earnings Overview

Next earnings: 2026-07-30 (36 days)explicit

Expected moves:

  • 2026-06-26 (2d): ±$5.51 (1.9%)
  • 2026-06-29 (5d): ±$6.74 (2.3%)
  • 2026-07-01 (7d): ±$4.68 (1.6%)

IV Setup

Term structure: Earnings far out; near-term term structure steep, low ATM IV (~12%) with elevated OTM puts.

Crush estimate: Moderate post-earnings crush, estimated 20-30% IV decline.

Skew: Put skew elevated, driven by heavy put buying at $295 and $297.5 strikes.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Beat rate 100% (5/5), avg move vs expected not available.

Directional bias: Bullish bias from consistent earnings beats.

Key Levels

1$240.00 gamma flip
2EM guardrails: 2d $287.57/$298.59; 1w $286.34/$299.81
3Max pain pins: $298 (2026-06-24); $298 (2026-06-26); $298 (2026-06-29)

Flow Highlights

Massive put volume on $295 0dte strike (178k vs 7.6k OI)

Aggressive downside hedging for today's expiration.

Net premium negative -$31.8M

Overall bearish flow sentiment.

Strategies

Long Strangle
Buy 2026-06-26 $280.00 put + buy $295.00 call
Debit: $1.94-$2.38
Max loss: $2.38
Max gain: Unlimited
BE: 277.62 / 297.38
Trigger: Monitor put wall near $295; exit before earnings or adjust based on price action
Only eligible candidate; combines low premium with upside/downside exposure
Outperforms: Expresses bearish put skew and historical beat rate through OTM call/put
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Short-dated put wall at $295-$297.5 could pin price.
!Call OI wall at $310-$350 caps upside longer term.
!Macro headwinds: SPY/QQQ down, VIX elevated at 18.6.

What to Watch

?0dte gamma flip level near $240 (put OI concentration).
?Max pain at $298 for multiple expirations.
?Unusual put activity in weekly expirations.
How to Use These Reports
This earnings reflects the market close on June 24, 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.