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AAPL

Apple Inc.Close $343.46EOD only
Max Pain
$342.50
Next expiry Oct 19, 2026
Expected Move
±$4.99
1.4% from close
Price Gap
-0.96
Distance to max pain
IV Rank
39
Middle-high premium
P/C OI
0.82
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Oct 16, 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
Oct 16, 2026 close
AAPL Theta Report
Analysis based on market close June 4, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 4, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Short premium
Invalidation: Break below $305 support or above $320 resistance
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 15

IV Environment

IV Regime
Normal
IV vs VIX
IV 31.4 vs VIX 15.4, elevated
Favorable?
Yes

Term structure: Steep near-term, elevated skew on 6/18 put

📈GEX +$599M bullish dealer hedge
⚠️Max pain $305-$310 pin risk

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+599.2M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,867 (22.9% below spot)

OI concentrations: Max pain $305-$310; call wall $345, put floor $240

Verdict: High pin risk near $305-$310 with dealer hedging

Premium Opportunities

#1
Iron condor
Sell 2026-06-26 $305.00/$300.00 put wing and $320.00/$325.00 call wing
Short premium both sides, profits from range staying between $305-$320.
Credit: $2.47-$3.02
Max loss: $1.98
BE: 301.98 / 323.02
Mgmt: Close at 50% max gain or if breached support/resistance.
#2
Call credit spread
Sell 2026-06-26 $320.00/$325.00 call spread
Sell OTM call spread to collect premium from resistance.
Credit: $1.22-$1.50
Max loss: $3.50
BE: $321.50
Mgmt: Close if price tests $320 or at 50% profit.
#3
Put credit spread
Sell 2026-06-26 $305.00/$300.00 put spread
Sell OTM put spread to collect premium from support.
Credit: $1.25-$1.52
Max loss: $3.48
BE: $303.48
Mgmt: Manage tightly if price approaches $305; close at 50% gain.

Risk Alerts

!VIX low at 15.4, spike risk
!Skew surprise on 6/18 expiry
How to Use These Reports
This theta reflects the market close on June 4, 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.