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BAC

Bank of America CorporationClose $56.20EOD only

Max Pain

$55.00

Next expiry Jun 26, 2026

Expected Move

±$1.44

2.6% from close

Price Gap

-1.20

Distance to max pain

IV Rank

100

High premium

P/C OI

1.36

Slightly put-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: Jun 18, 2026 close

End-of-day snapshot

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

Published Snapshot

Jun 18, 2026 close

BAC Theta Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 7.0% from MP; +1 VIX 16

IV Environment

IV Regime

Normal

IV vs VIX

Avg IV 33.4% vs VIX 16.4 — elevated

Favorable?

Term structure: Front expiration (0 DTE) extreme skew: Put IV 200%, Call 78%; later expirations contango

⚠️Front-month IV skew extreme — defined-risk spreads only

📈Dealer gamma long $141.9M supports pinning

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+141.9M)

Gamma flip: ~$47.00 — Approx — based on put OI concentration of 104,983 (16.4% below spot)

OI concentrations: Max pain $52 (6/18), $55 (6/26); put floor $35-$50; 104,983 OI at $47 (16.4% below spot)

Verdict: Pinning likely at $52 today; gamma flip at $47 is key downside risk

Premium Opportunities

Put credit spread

Sell 2026-07-17 $50.00/$45.00 put spread

Sell 50 put, buy 45 put for credit. Max profit above $50.

Credit: $0.14-$0.17

Max loss: $4.83

BE: $49.83

Mgmt: Exit if spot below $50 or gamma flip signals.

Covered call

Buy shares + sell 2026-07-17 $55.00 call

Buy 100 shares, sell 55 call for net credit. Profit if BAC stays below $55.

Credit: $2.25-$2.75

Max loss: Stock downside to $0 less call premium

BE: $53.45

Mgmt: Roll call if stock nears $55 before earnings.

Risk Alerts

!Extreme IV skew on front expiration

!Gamma flip level at $47

!Spot 7% above max pain — potential reversal

How to Use These Reports

This theta reflects the market close on June 18, 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.