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AAPL

Apple Inc.Close $296.42EOD only
Max Pain
$295.00
Next expiry Jun 17, 2026
Expected Move
±$4.49
1.5% from close
Price Gap
-1.42
Distance to max pain
IV Rank
78
High premium
P/C OI
0.73
Slightly call-heavy
Consensus
9.0/10
Bullish tilt
Published snapshot: Jun 15, 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 15, 2026 close
AAPL Theta Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Premium selling
Invalidation: Spot breaks $295 support or $302 resistance (2d EM).
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.4% from MP; +1 VIX 16

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 31.0% vs VIX 16.4%, elevated ~1.9x, indicating event-driven premium.
Favorable?
Yes

Term structure: Near-term (1-2d) elevated with extreme put skew on Jun18; back months normal contango.

📌Max pain at $295 0dte & 6dte, $265 1dte; strong pinning forces.
🟢Dealer GEX +$463.8M, huge positive gamma support.
⚠️Extreme near-term put skew on Jun18 (2d) signals downside hedging.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+463.8M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,762 (19.8% below spot)

OI concentrations: Put OI floor ~$240 (19.8% below spot), call wall $320-$350, max pain $295 (0dte, 6dte) & $265 (1dte).

Verdict: Strong pinning at $295; dealer gamma supportive; risk of failure if spot moves away.

Premium Opportunities

#1
Put credit spread
Sell 2026-06-18 $295.00/$292.50 put spread
Sell $295/$292.50 put spread to capture elevated IV and pinning.
Credit: $0.33-$0.40
Max loss: $2.10
BE: $294.60
Mgmt: Exit if spot breaks below $295; target 50% max gain.
#2
Iron condor
Sell 2026-06-18 $295.00/$292.50 put wing and $300.00/$302.50 call wing
Sell put spread at $295 and call spread at $300 to collect premium.
Credit: $1.20-$1.46
Max loss: $1.04
BE: 293.54 / 301.46
Mgmt: Close if spot approaches either strike; target 50% max gain.

Risk Alerts

!Extreme near-term skew on Jun18 (2d) put IV 152.8 vs call 68.3.
!Spot above max pain but gamma pinning may cap upside near $302.
!Watch for pin unwind at expiration.
How to Use These Reports
This theta reflects the market close on June 16, 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.