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AAPL

Apple Inc.Close $311.00EOD only
Max Pain
$307.50
Next expiry Aug 7, 2026
Expected Move
±$5.78
1.9% from close
Price Gap
-3.50
Distance to max pain
IV Rank
6
Low premium
P/C OI
0.70
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Aug 5, 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
Aug 5, 2026 close
AAPL Theta Report
Analysis based on market close June 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 22, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Iron Condor
Invalidation: Spot breaks $284 support or $300 resistance
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.2% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
IV 31.2% vs VIX 17.3, elevated implies high premium.
Favorable?
Yes

Term structure: Near-term put IV 68% on 6/26 indicates event risk, rest of curve normal.

⚡Front-week put IV 68% signals event risk; avoid naked short front-week.
📈Positive dealer gamma +$305M supports pinning near max pain $298.
🟢GEX strongly positive, dealer hedging adds stability.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+305.6M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,643 (19.2% below spot)

OI concentrations: Max pain $298, call wall $320-$350, put floor $240.

Verdict: Moderate pin risk; positive GEX and spot near max pain reduce directional risk.

Premium Opportunities

#1
Iron condor
Sell 2026-07-31 $280.00/$265.00 put wing and $315.00/$330.00 call wing
Non-directional; wide wings collect premium.
Credit: $4.10-$5.01
Max loss: $9.99
BE: 274.99 / 320.01
Mgmt: Close at 50% gain or $284/$300 breach.
#2
Put credit spread
Sell 2026-07-31 $280.00/$265.00 put spread
Sell put spread above support.
Credit: $1.86-$2.28
Max loss: $12.72
BE: $277.72
Mgmt: Exit below $284.74.
#3
Call calendar
Sell 2026-07-24 $315.00 call / buy 2026-07-31 $315.00 call
Calendar spread on calls.
Debit: $1.41-$1.73
Max loss: $1.73
BE: Path-dependent
Mgmt: Close pre-earnings or if spot nears $315.

Risk Alerts

!Front-week IV spike (6/26 put IV 68%)
!Resistance at $300 nearby
!Put OI concentration 59.6k below spot may act as attractor
How to Use These Reports
This theta reflects the market close on June 22, 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.