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AAPL

Apple Inc.Close $337.02EOD only

Max Pain

$332.50

Next expiry Sep 25, 2026

Expected Move

±$5.60

1.7% from close

Price Gap

-4.52

Distance to max pain

IV Rank

Low premium

P/C OI

0.74

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Sep 23, 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 23, 2026 close

AAPL Theta Report

Analysis based on market close June 25, 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 25, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

4.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 6.7% from MP; +0.5 VIX 19

IV Environment

IV Regime

Normal

IV vs VIX

IV 36% vs VIX 19 (1.9x), elevated, favorable for selling.

Favorable?

Yes

Term structure: Steep put skew near term; contango in back months.

📈Put IV 92% on 1-day expiry signals extreme fear.

📊Contango in longer tenors, typical for selling.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+33.4M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 59,441 (12.8% below spot)

OI concentrations: Max pain pins: $295 (6/26), $298 (6/29), $295 (7/1). Put OI concentrated at $240.

Verdict: High pin risk near $295-$298; spot at support likely to drift higher.

Premium Opportunities

Put credit spread

Sell 2026-07-31 $260.00/$245.00 put spread

Sell $260/$245 put spread to capture premium from elevated volatility with buffer below support.

Credit: $2.41-$2.94

Max loss: $12.06

BE: $257.06

Mgmt: Close at 50% max gain or if spot approaches $261.67 invalidation level.

Iron condor

Sell 2026-07-31 $255.00/$235.00 put wing and $300.00/$320.00 call wing

Sell $255/$235 puts and $300/$320 calls to collect premium from elevated IV with defined risk.

Credit: $3.73-$4.55

Max loss: $15.45

BE: 250.45 / 304.55

Mgmt: Manage if spot nears either short strike; close at 50% max gain or adjust.

Risk Alerts

!Pin risk due to concentrated OI at $295.

!Near-term put skew extreme; avoid naked puts.

How to Use These Reports

This theta reflects the market close on June 25, 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.