base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 11.2% from MP; +1 VIX 16
Term structure: 0DTE put IV 255% (extreme skew), term structure rises 13% to 45% at 6DTE then flattens; event-driven distortion
Spot vs MP: Above
GEX regime: Pinning ($+142.7M)
Gamma flip: ~$330.00 — Approx — based on put OI concentration of 16,545 (19.8% below spot)
OI concentrations: Put OI heavy at $330 (16.5K, 20% below spot); call wall $500
#1Put credit spread
Sell 2026-07-10 $390.00/$375.00 put spread
Sell OTM put spread to capture time decay and volatility contraction.
Mgmt: Close at 50% max profit or if spot breaches short strike.
#2Iron condor
Sell 2026-07-17 $390.00/$370.00 put wing and $450.00/$470.00 call wing
Sell OTM put and call spreads to profit from range-bound movement.
Mgmt: Adjust wings if spot moves significantly; close at 25% max loss.
#3Cash-secured put
Sell 2026-07-17 $390.00 cash-secured put
Sell cash-secured put to collect premium with intent to buy stock.
Mgmt: Roll if spot drops below short strike; manage assignment risk.
!0DTE put skew 255% – risk of pin if spot drops
!Spot 11% above max pain – potential mean reversion
!Call OI at $500 may cap upside