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AAPL

Apple Inc.Close $338.98EOD only
Max Pain
$332.50
Next expiry Sep 23, 2026
Expected Move
±$5.07
1.5% from close
Price Gap
-6.48
Distance to max pain
IV Rank
12
Low premium
P/C OI
0.74
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Sep 21, 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 21, 2026 close
AAPL Theta Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 23, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short puts or call credit spreads on longer dated
Invalidation: IV collapse or spot break below $290 support
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.1% from MP; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
Elevated (31.5 vs 19.5)
Favorable?
Yes

Term structure: Front-end skew elevated: 3D put IV 68.9% event risk; rest normal contango

⚠️3D put IV spike 68.9% suggests event risk; avoid front-week

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+191.7M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,664 (18.5% below spot)

OI concentrations: Call wall $310-350, Put floor $240

Verdict: Max pain $298 (6/24), $295 (6/29); pinning likely near $298

Premium Opportunities

#1
Iron condor
Sell 2026-08-21 $290.00/$280.00 put wing and $310.00/$315.00 call wing
Sells put and call wings to capture time decay with limited risk.
Credit: $4.34-$5.31
Max loss: $4.69
BE: 284.69 / 315.31
Mgmt: Close at 50% of max gain or before earnings; adjust wings if spot moves near strikes.
#2
Put credit spread
Sell 2026-07-31 $295.00/$280.00 put spread
Sells put spread to collect premium with defined risk.
Credit: $4.72-$5.77
Max loss: $9.23
BE: $289.23
Mgmt: Exit at 50% profit or if spot breaks below $282.10.

Risk Alerts

!Put IV spike on 3-day expiration (68.9%) suggests event risk; avoid front-week short premium.
How to Use These Reports
This theta reflects the market close on June 23, 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.