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AMAT

Applied Materials, Inc.Close $319.25EOD only

Max Pain

$395.00

Next expiry Nov 6, 2026

Expected Move

±$16.80

5.3% from close

Price Gap

+75.75

Distance to max pain

IV Rank

Low premium

P/C OI

1.46

Slightly put-heavy

Consensus

6.5/10

Consensus signal

Published snapshot: Nov 5, 2026 close

End-of-day snapshot

This page reflects AMAT options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Nov 5, 2026 close

AMAT Theta Report

Analysis based on market close June 23, 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 23, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Confidence:

6 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.5% from MP; +0.5 VIX 19

IV Environment

IV Regime

High

IV vs VIX

IV 85.5% vs VIX 19.5: ~4.4x

Favorable?

Yes

Term structure: Front-end elevated (89.5% at 3d), backwardation to ~70% for longer tenors.

📊IV far above VIX; high premium selling opportunity

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+6.1M)

Gamma flip: ~$430.00 — Approx — based on put OI concentration of 1,673 (26.6% below spot)

OI concentrations: Put floor $300-$430; call wall $650-$800; max pain $550 (Jun26), $525 (Jul2,10)

Verdict: Pinning risk near $550; gamma flip at $430 supports downside protection.

Premium Opportunities

Short strangle

Sell 2026-07-17 $510.00 put + sell $700.00 call

Sell put and call OTM to collect rich premium from elevated IV.

Credit: $25.67-$31.38

Max loss: Unlimited

BE: 478.62 / 731.38

Mgmt: Monitor spot near $580-$610; adjust strikes to maintain delta neutrality; close before earnings.

Call diagonal

Sell 2026-07-17 $650.00 call / buy 2026-08-21 $620.00 call

Sell near-term call, buy longer-term call for net credit with upside protection.

Debit: $32.42-$39.63

Max loss: $39.63

BE: Path-dependent

Mgmt: Exit near-term leg before earnings; roll back-month if spot rises above $650.

Risk Alerts

!Spot 6.5% above max pain

!Dealers net long gamma

!High put skew suggests tail risk

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.