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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 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8.5 / 10
Sizing: Aggressive
Primary: Put credit spread
Invalidation: Thesis invalid if spot breaks below 285 support or VIX surges above 30.
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.2% from MP

IV Environment

IV Regime
Normal
IV vs VIX
IV above VIX (33.84 vs 22.22)
Favorable?
Yes

Term structure: Term structure shows elevated near-term IV with a significant spike on 6/18 expiry (8 DTE), likely due to event risk.

📈Dealer gamma positive ($+317M) supports market; pinning at $295 likely.
⚠️Spike in put IV on 6/18 (97.15) signals high event uncertainty.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+317.1M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,688 (17.7% below spot)

OI concentrations: Max pain pinned at $295 for multiple expirations; put OI concentrated at $240.

Verdict: Pinning likely at $295 due to max pain and dealer gamma positioning.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-02 $285.00/$280.00 put spread
Sell $285/$280 put spread to collect premium near pinning level.
Credit: $1.26-$1.55
Max loss: $3.45
BE: $283.45
Mgmt: Close at 50% max gain or near expiry.
#2
Cash-secured put
Sell 2026-07-02 $285.00 cash-secured put
Sell $285 put to collect credit, aiming for assignment or expiry.
Credit: $3.96-$4.84
Max loss: $280.16
BE: $280.16
Mgmt: Roll or close if spot breaks $280.
#3
Call calendar
Sell 2026-07-02 $315.00 call / buy 2026-08-21 $315.00 call
Sell near-term call, buy later call to profit from vol crush.
Debit: $4.53-$5.53
Max loss: $5.53
BE: Path-dependent
Mgmt: Adjust strikes if spot moves significantly.

Risk Alerts

!Event risk on 6/18 expiry with elevated put IV.
!Spot below max pain ($295) could trigger call selling pressure.
How to Use These Reports
This theta reflects the market close on June 10, 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.