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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

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 Flow Report

Analysis based on market close May 20, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 17

Watch next session: $302.5; $300

Flow Summary

Net premium: +$261.0M bullish

P/C volume ratio: 0.35

P/C OI ratio: 0.70

Heavy call volume and low VIX signal bullish flow. Gamma pinning near $302.5 supports upside bias.

Notable Prints

AAPL 2026-05-20 $302.50 Put

Vol: 16,330

OI: 175

Vol/OI: 93.3x

IV: 4.6%

Notional: ~$457K

Intent: Bearish

Dual read: MM hedge

Read-through: Downside

AAPL 2026-05-20 $300.00 Put

Vol: 59,080

OI: 2,134

Vol/OI: 27.7x

IV: 7.2%

Notional: ~$59K

Intent: Bearish

Dual read: MM hedge

Read-through: Downside

AAPL 2026-05-20 $302.50 Call

Vol: 220,128

OI: 9,171

Vol/OI: 24.0x

IV: 2.8%

Notional: ~$1.1M

Intent: Bullish

Dual read: MM hedge

Read-through: Upside

AAPL 2026-05-20 $300.00 Call

Vol: 132,132

OI: 9,882

Vol/OI: 13.4x

IV: 9.3%

Notional: ~$27.2M

Intent: Bullish

Dual read: MM hedge

Read-through: Upside

AAPL 2026-05-20 $297.50 Put

Vol: 38,395

OI: 5,065

Vol/OI: 7.6x

IV: 13.7%

Notional: ~$38K

Intent: Bearish

Dual read: MM hedge

Read-through: Downside

Institutional Positioning

Call additions: Large call volume at 300/302.5 May20 (132k/220k), net prem +$261M

Put additions: Heavy put vol at 300/302.5 May20 (59k/16k) w/ low OI, likely hedging

GEX/DEX consistency: GEX +$795.6M, DEX +149.6M shares, consistent bullish flow & pinning

OI clusters: Max OI: 300 Call (9.9k), 302.5 Call (9.2k); put OI concentrated at 297.5 (5k)

Hedging evidence: May22 put buys at 300 (18k vol) & 297.5 (16.5k vol) show downside hedging

Max pain context: Spot $302.63 > MP ~$295; gamma pin range $300-$302.5 due to large call OI

Signal vs Noise

~Signal: high call vol at 300/302.5 indicates bullish institutional flow

~Noise: put vol at 300/302.5 with low OI may be opening hedges, not bearish conviction

~Signal: GEX/DEX alignment confirms smart money long gamma

~Noise: small OI changes in far-dated calls (370 July) are likely retail

Key Conclusions

📈Bullish gamma pin near $300-$302.5, spot above MP, call OI clusters support upside

🛡️Downside hedging via May22 puts at 300/297.5, but limited bearish conviction

How to Use These Reports

This flow 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.