thetaOwl
HomeOptionsASMLReports

ASML

ASML Holding N.V. - New York ReClose $1747.90EOD only
Max Pain
$1655.00
Next expiry Sep 25, 2026
Expected Move
±$56.40
3.2% from close
Price Gap
-92.90
Distance to max pain
IV Rank
0
Low premium
P/C OI
1.12
Slightly put-heavy
Consensus
5.0/10
Bearish tilt
Published snapshot: Sep 22, 2026 close
End-of-day snapshot

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

Published Snapshot
Sep 22, 2026 close
ASML 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.

You are viewing an older report from June 24, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness5 / 10
Sizing: Moderate
Primary: N/A
Invalidation: Break below $1700 or above $1900; VIX spike above 20
Confidence:
4 / 10
base 5; -1 GEX/flow contradict; +1 spot 1.0% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Avg IV 65% vs VIX 19; volatility regime high
Favorable?
No

Term structure: Near-term spike (2d 62%), dip at 1-2w, then rise again; event risk

📊IV elevated but negative GEX
🔄Put/call OI ratio 1.29 bearish

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-1.8M)

Gamma flip: ~$1700.00 — Approx — based on put OI concentration of 2,903 (3.6% below spot)

OI concentrations: MP $1780/$1750; call wall $1900; put floor $1600

Verdict: Max pain and OI pin $1750-1780; negative gamma risk

Premium Opportunities

#1
Call diagonal
Sell 2026-07-24 $1795.00 call / buy 2026-09-18 $1860.00 call
Sell near-term $1795 call, buy longer-term $1860 call to collect theta while limiting upside risk.
Debit: $46.48-$56.81
Max loss: $56.81
BE: Path-dependent
Mgmt: Close if stock breaks below $1700 or above $1795 early; adjust strikes if pin shifts. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Volume below 5.
#2
Call diagonal
Sell 2026-07-24 $1980.00 call / buy 2026-09-18 $1600.00 call
Sell OTM $1980 call, buy deep ITM $1600 call to benefit from upside with limited risk.
Debit: $211.45-$258.44
Max loss: $258.44
BE: Path-dependent
Mgmt: Monitor closely; exit on break below $1700 or if IV spikes further. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Risk Alerts

!Negative gamma $1.8M amplifies moves
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.