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AAPL

Apple Inc.Close $310.85EOD only

Max Pain

$300.00

Next expiry May 29, 2026

Expected Move

±$4.38

1.4% from close

Price Gap

-10.85

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.72

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 27, 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 27, 2026 close

AAPL Theta Report

Analysis based on market close April 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 17, 2026. A newer theta report is available for May 26, 2026.

View latest report

Theta Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.9% from MP; +1 VIX 17

IV Environment

IV Regime

Normal

IV vs VIX

ATM IV depressed vs VIX on multi-week tenors but extreme short-dated dislocation (0–7D) with very low quoted ATM IV and steep near-date skew.

Favorable?

Yes

Term structure: Favorable for premium-selling in 2–8 week expiries where term IV is higher and skew supports defined-risk wings; avoid front-week despite overall elevated term IV.

📌Max-pain concentration at $258–$260 aligns with concentrated dealer OI

⚠️Do NOT sell into 0–7D: extreme front-week IV dislocation creates short-gamma and execution risk

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+1.4B)

OI concentrations: Max-pain pins: $258 (4/17), $260 (4/20,4/22); concentrated calls at $295–$310; no deep put wall 30% below spot.

Verdict: Elevated pin risk at $258–$260 given OI concentration and positive GEX; increases chance of pin if move modest, but large gaps can invalidate pin and cause rapid repricing.

Premium Opportunities

Iron condor

Sell 2026-05-15 $250.00/$240.00 put wing and $290.00/$300.00 call wing

Sell 5/15 250/240 put and 290/300 call wings to collect multi-week IV; limits tail risk vs naked spreads.

Credit: $2.02-$2.48

Max loss: $7.52

BE: 247.52 / 292.48

Mgmt: Close or hedge if front-week IV re-steepens >+10 vol pts, quoted spreads >3x, or spot gaps >4%; tighten if spot moves toward wings.

Put credit spread

Sell 2026-05-15 $255.00/$245.00 put spread

Sell 5/15 255/245 put spread to collect premium while avoiding short-dated skew and gamma.

Credit: $1.37-$1.67

Max loss: $8.33

BE: $253.33

Mgmt: Same hard stops: exit/hedge on IV re-steepen >+10 pts, wide spreads, or >4% gap from pin region.

Risk Alerts

!Front-week IV dislocation -> execution/pricing oddities; avoid selling 0–7D

!Wide spreads/liquidity thinness can blow up fills and margins (monitor quoted spreads; veto if >3x normal)

!Gap risk: plan for spot moves >4% which can cause rapid mark-to-market and margin calls

!IV re-steepen >+10 vol pts front-week is a hard stop — exit or hedge immediately

How to Use These Reports

This theta reflects the market close on April 17, 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.