thetaOwl
HomeOptionsAAPLReports

AAPL

Apple Inc.Close $290.55EOD only
Max Pain
$305.00
Next expiry Jun 10, 2026
Expected Move
±$4.02
1.4% from close
Price Gap
+14.45
Distance to max pain
IV Rank
46
Middle-high premium
P/C OI
0.71
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 9, 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
Jun 9, 2026 close
AAPL Theta Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Put credit spread
Invalidation: Break below $279.35 support or VIX above 25
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.7% from MP; +0.5 VIX 20

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 34.1% vs VIX 19.9%, elevated ~14 pts
Favorable?
Yes

Term structure: Front-end IV high (1d 24%, 3d 29%), then declines to ~26%; put skew near-term

📈IV elevated relative to VIX, favorable for premium selling
⚠️Near-term put IV elevated, indicating hedging demand

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+189.6M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,788 (17.4% below spot)

OI concentrations: Max pain pins: $305 (1d), $310 (6d); put floor $240 with 59.8K OI; call wall $310-$350

Verdict: High pin risk; strong OI concentrations and positive GEX pinning spot to max pain levels

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $275.00/$265.00 put spread
Sell 275 put, buy 265 put, net credit ~1.05. Exploits elevated IV and pinning to max pain.
Credit: $1.40-$1.71
Max loss: $8.29
BE: $273.29
Mgmt: Exit at 50% max gain or adjust if spot breaks 279.35.
#2
Short strangle
Sell 2026-07-17 $265.00 put + sell $315.00 call
Sell 265 put and 315 call, net credit ~3.50. Benefits from IV crush and pinning.
Credit: $3.45-$4.21
Max loss: Unlimited
BE: 260.79 / 319.21
Mgmt: Close at 50% profit or roll if spot nears strikes.
#3
Put calendar
Sell 2026-07-17 $275.00 put / buy 2026-08-21 $275.00 put
Sell Jul 275 put, buy Aug 275 put, net debit ~3.99. Vega positive, theta positive.
Debit: $3.26-$3.99
Max loss: $3.99
BE: Path-dependent
Mgmt: Monitor IV skew; close if front-month IV collapses.

Risk Alerts

!Spot 4.7% below max pain, potential upward drift
!Gamma flip at $240 if spot drops
!Elevated IV may compress on pinning
How to Use These Reports
This theta reflects the market close on June 9, 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.