thetaOwl
HomeOptionsAAPLReports

AAPL

Apple Inc.Close $332.27EOD only
Max Pain
$315.00
Next expiry Sep 14, 2026
Expected Move
±$4.58
1.4% from close
Price Gap
-17.27
Distance to max pain
IV Rank
23
Low premium
P/C OI
0.73
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Sep 11, 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
Sep 11, 2026 close
AAPL Theta Report
Analysis based on market close June 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 15, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Sell Put Spreads near support
Invalidation: AAPL breaks below $292.5
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.3% from MP; +1 VIX 16

IV Environment

IV Regime
Normal
IV vs VIX
IV avg 31.5% vs VIX 16.2 — rich premiums across expirations.
Favorable?
Yes

Term structure: Front-end put skew extreme at 3DTE (put IV 133.7%); short-term volatility elevated but longer-dated stable ~26%.

📈GEX +$428M bullish; gamma pinning supports.
⚠️3DTE put IV 134% signals heavy hedging into weekly expiry.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+427.9M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,768 (19.0% below spot)

OI concentrations: Max pain pins: $292 (0DTE), $295 (2DTE), $265 (3DTE). Put floor $240; call wall $320-$350.

Verdict: High pin risk near $292-$295 with bullish flow favoring upward drift.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-24 $290.00/$285.00 put spread
Sell 290/285 put spread for rich premium.
Credit: $1.37-$1.68
Max loss: $3.32
BE: $288.32
Mgmt: Close at 50% max gain or if below $292.5.
#2
Iron condor
Sell 2026-08-21 $290.00/$265.00 put wing and $300.00/$310.00 call wing
Sell 290/265 puts and 300/310 calls for premium.
Credit: $9.15-$11.19
Max loss: $13.81
BE: 278.81 / 311.19
Mgmt: Exit at 50% max gain or if pin risk at $290-295.

Risk Alerts

!Gamma flip at $240 — sharp selloff risk if breached.
!Front-end put skew extreme — tail risk in weekly puts.
!Term structure inverted — premium decay accelerates near expiry.
How to Use These Reports
This theta reflects the market close on June 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.