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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 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 15, 2026. A newer theta report is available for May 19, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Put Credit Spread
Invalidation: Spot breaks below $280 or above $310
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 7.2% from MP; +0.5 VIX 18

IV Environment

IV Regime
Normal
IV vs VIX
IV 31.2% vs VIX 18.4% — elevated
Favorable?
Yes

Term structure: Near-term ATM IV spikes from 7% (0DTE) to 22% (7DTE), offering rich premium

📈Dealer GEX +$1.1B, flow bullish, supports premium selling

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+1.1B)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 58,216 (20.1% below spot)

OI concentrations: Max pain clusters at $280, $285, $295; put floor at $240

Verdict: Pinning likely near $285-$295 zone given strong put OI

Premium Opportunities

#1
Put credit spread
Sell 2026-06-05 $290.00/$280.00 put spread
Sell $290/$280 put spread to collect premium with high IV.
Credit: $1.37-$1.67
Max loss: $8.33
BE: $288.33
Mgmt: Close if spot breaks $280 or $310; monitor gamma.
#2
Iron condor
Sell 2026-06-05 $290.00/$280.00 put wing and $310.00/$315.00 call wing
Sell put and call wings around expected pin range.
Credit: $2.38-$2.91
Max loss: $7.09
BE: 287.09 / 312.91
Mgmt: Adjust or close if spot approaches strikes; watch expiration.

Risk Alerts

!Resistance $310 may cap upside
!Gamma flip at $240 if selloff deepens
How to Use These Reports
This theta reflects the market close on May 15, 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.