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AMAT

Applied Materials, Inc.Close $585.88EOD only
Max Pain
$550.00
Next expiry Jun 26, 2026
Expected Move
±$43.77
7.5% from close
Price Gap
-35.88
Distance to max pain
IV Rank
19
Low premium
P/C OI
0.96
Balanced positioning
Consensus
3.0/10
Downside lean
Published snapshot: Jun 23, 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
Jun 23, 2026 close
AMAT Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short put credit spreads
Invalidation: Break below $555 or above $667
Confidence:
6 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.1% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV 85% vs VIX 19
Favorable?
Yes

Term structure: Front-end IV 88% declining to 69% at 1Y

⚡IV 85% vs VIX 19 extreme
📌Gamma pinning near $555

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+6.1M)

Gamma flip: ~$430.00 — Approx — based on put OI concentration of 1,684 (27.0% below spot)

OI concentrations: Call wall $650-$800; Put floor $300-$430; Max pain $555, $540, $530

Verdict: Pin risk elevated; spot near $555 max pain

Premium Opportunities

#1
Put credit spread
Sell 2026-08-21 $500.00/$450.00 put spread
Sell put credit spread to profit from bullish-neutral bias, using post-earnings expiration.
Credit: $12.55-$15.34
Max loss: $34.66
BE: $484.66
Mgmt: Monitor pin risk near $555; close if break below.
#2
Iron condor
Sell 2026-08-21 $480.00/$430.00 put wing and $800.00/$820.00 call wing
Sell OTM put and call wings to benefit from high IV and post-earnings contraction.
Credit: $13.05-$15.95
Max loss: $34.05
BE: 464.05 / 815.95
Mgmt: Adjust if spot nears wings; close after IV decline.
#3
Call diagonal
Sell 2026-07-24 $675.00 call / buy 2026-09-18 $760.00 call
Sell short-dated call, buy long-dated call to profit from term structure.
Debit: $10.75-$13.14
Max loss: $13.14
BE: Path-dependent
Mgmt: Roll if short call tested; close after earnings normalization. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Risk Alerts

!High IV (85%) and backwardation; pin risk near $555
How to Use These Reports
This theta reflects the market close on June 24, 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.