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AAPL

Apple Inc.Close $336.91EOD only

Max Pain

$327.50

Next expiry Jul 29, 2026

Expected Move

±$6.10

1.8% from close

Price Gap

-9.41

Distance to max pain

IV Rank

Low premium

P/C OI

0.76

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jul 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

Jul 27, 2026 close

AAPL Theta Report

Analysis based on market close June 12, 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 June 12, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.3% from MP; +1 VIX 18

IV Environment

IV Regime

Normal

IV vs VIX

IV (avg 32%) elevated vs VIX 17.68, favorable for selling.

Favorable?

Yes

Term structure: Upward sloping from 0DTE skew to ~27% back months; front-month extreme skew (put IV 78%) reflects pin risk.

📈Positive GEX $273M supports pinning near max pain $295

⚠️0DTE put IV 78% signals extreme pin risk

📊IV term structure elevated vs VIX, favorable for premium selling

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+273.4M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,751 (17.6% below spot)

OI concentrations: Max pain $295 (today), $292 (6/15), $298 (6/17); call wall $310-$350; put floor $240-$240; gamma flip $240.

Verdict: Pinning likely near $295 due to positive GEX and dealer hedging; extreme caution on 0DTE gamma exposure.

Premium Opportunities

Put credit spread

Sell 2026-07-17 $280.00/$275.00 put spread

Sell 2026-07-17 $280/$275 put spread, capturing elevated IV while support limits downside.

Credit: $0.87-$1.07

Max loss: $3.93

BE: $278.93

Mgmt: Exit if spot breaks $280.53; manage for pin reversion to $295.

Risk Alerts

!0DTE options exhibit extreme IV skew with put IV 78% - avoid naked shorts

!Gamma flip at $240 - watch for acceleration if breached

!Spot below max pain $295 - potential reversion to pin

How to Use These Reports

This theta reflects the market close on June 12, 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.