base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.5% from MP; +1 VIX 17
Term structure: Near-term spike at 2DTE (51.2%); longer-term elevated ~50%
Spot vs MP: At
GEX regime: Pinning ($+38.1M)
Gamma flip: ~$300.00 — Approx — based on put OI concentration of 14,583 (28.2% below spot)
OI concentrations: Put OI 28.2% below spot at $300; Call wall $450-$500
#1Put credit spread
Sell 2026-06-12 $385.00/$365.00 put spread
Sell $385/$365 put spread to collect premium, targeting support zone before earnings.
Mgmt: Exit if spot breaks $372.94 invalidation; take profit at 50% max gain.
#2Iron condor
Sell 2026-06-12 $385.00/$365.00 put wing and $430.00/$455.00 call wing
Sell $385/$365 puts and $430/$455 calls to profit from low realized volatility.
Mgmt: Close at 50% profit; adjust if spot approaches wings.
#3Call calendar
Sell 2026-06-12 $430.00 call / buy 2026-07-17 $430.00 call
Sell June 12 $430 call, buy July 17 $430 call to profit from IV contraction.
Mgmt: Monitor IV differential; exit if vol gap narrows or spot moves significantly.
!High IV regime — reduce position size if uncertain
!Monitor gamma flip at $300 if spot weakens
!Check for upcoming earnings or catalyst