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AAPL

Apple Inc.Close $298.97EOD only
Max Pain
$295.00
Next expiry May 20, 2026
Expected Move
±$3.02
1.0% from close
Price Gap
-3.97
Distance to max pain
IV Rank
19
Low premium
P/C OI
0.71
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: May 19, 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 19, 2026 close
AAPL Theta Report
Analysis based on market close May 19, 2026
DirectionalTheta GangFlowEarningsConsensus

Consensus-supported lens with chain history and key metrics in the rail.

Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Short put spreads
Invalidation: Spot < 240 (gamma flip) or event risk from 3dte put IV spike
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.3% from MP; +0.5 VIX 18

IV Environment

IV Regime
Normal
IV vs VIX
IV 29.3% vs VIX 18.1% – premium rich environment.
Favorable?
Yes

Term structure: Short-term put IV spikes to 72% (3dte) indicating event risk; overall curve upward sloping and elevated vs VIX.

📈IV 29.3% vs VIX 18.1% – attractive premium selling.
⚠️May 20 put IV 26.8% but 3dte put IV 72% – event risk near expiry.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+536.3M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 58,169 (19.7% below spot)

OI concentrations: Max pain: $295 (1dte), $292 (3dte), $285 (7dte). Significant call OI at $320, put floor at $240.

Verdict: Low pin risk – positive GEX and bullish flow support spot near 295-300. Max pain below spot reinforces bullish bias.

Premium Opportunities

#1
Put credit spread
Sell 2026-06-26 $290.00/$275.00 put spread
Sell $290/$275 put spread, max gain $3.25, max loss $11.75.
Credit: $2.66-$3.25
Max loss: $11.75
BE: $286.75
Mgmt: Close or roll if spot nears $295.
#2
Cash-secured put
Sell 2026-06-26 $275.00 cash-secured put
Sell $275 CSP, max gain $2.22, max loss $272.78.
Credit: $1.82-$2.22
Max loss: $272.78
BE: $272.78
Mgmt: Monitor spot, consider buyback if bullish weakens.

Risk Alerts

!Short-term put IV spike suggests potential event risk (earnings/corp. action) – verify calendar.
!Gamma flip at $240 – if breached, risk of acceleration.
!Spot approaching resistance $300-$310 – watch for reversal or breakout.
How to Use These Reports
This theta reflects the market close on May 19, 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.