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AMAT

Applied Materials, Inc.Close $668.00EOD only
Max Pain
$555.00
Next expiry Jun 26, 2026
Expected Move
±$13.75
2.1% from close
Price Gap
-113.00
Distance to max pain
IV Rank
29
Middle-high premium
P/C OI
1.01
Balanced positioning
Consensus
6.5/10
Range bias
Published snapshot: Jun 25, 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 25, 2026 close
AMAT Theta Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Conservative
Primary: Sell Put Credit Spread
Invalidation: Spot breaks below $582 or above $700
Confidence:
6 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 20.4% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV average 90% vs VIX 19, extremely elevated
Favorable?
Yes

Term structure: Near-term puts extremely elevated (213% at 1DTE); structure steeply downward-sloping; event risk likely

📈IV 90% vs VIX 19 – rich premiums but event risk high
⏳Term structure steep; short-dated puts inflated (213% 1DTE)
📊ATM IV ~78% for next week; premium selling attractive with pinning

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+10.8M)

OI concentrations: Max pain $555 (2026-06-26), $545 (2026-07-02), $530 (2026-07-10). Call OI wall $750-$800, put floor $400-$430

Verdict: Spot at ~$680, far above max pain; pinning risk elevated but positive GEX may stabilize near current levels

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $650.00/$640.00 put spread
Sell put spread to collect premium with high IV.
Credit: $5.08-$6.21
Max loss: $3.79
BE: $643.79
Mgmt: Close at 50% gain or before earnings. Liquidity warning: Liquidity constraints: short_put: Open interest below 25. Substitutions: long_put: resolved contract 2026-07-17 $645.00 missing; used 2026-07-17 $640.00.
#2
Short strangle
Sell 2026-07-24 $660.00 put + sell $690.00 call
Sell OTM put and call to capture IV crush.
Credit: $95.09-$116.22
Max loss: Unlimited
BE: 543.78 / 806.22
Mgmt: Set stops; close post-earnings. Liquidity warning: Liquidity constraints: short_call: Volume below 5.; short_put: Open interest below 25.

Risk Alerts

!High IV and event risk near-term; position sizing crucial
!Spot far from max pain; potential gravitation lower if gamma flips
!Positive GEX supports pinning but break could be sharp
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.