thetaOwl
HomeOptionsBACReports

BAC

Bank of America CorporationClose $58.19EOD only
Max Pain
$56.00
Next expiry Jun 26, 2026
Expected Move
±$0.61
1.1% from close
Price Gap
-2.19
Distance to max pain
IV Rank
4
Low premium
P/C OI
1.11
Slightly put-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 25, 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 25, 2026 close
BAC Theta Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness9 / 10
Sizing: Moderate
Primary: Short Put Spreads
Invalidation: Spot closes below $56.65
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.5% from MP; +0.5 VIX 18

IV Environment

IV Regime
Normal
IV vs VIX
IV (31.4%) well above VIX (18.4), rich premium
Favorable?
Yes

Term structure: Front-month contango; steep put skew in near terms

📈IV elevated vs VIX, favorable for premium sellers
⚠️Put skew steep, short puts risky if spot drops

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+230.5M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 51,353 (13.6% below spot)

OI concentrations: Max pain $57 across multiple expiries; heavy put OI 13.6% below spot

Verdict: High pin risk near $57; dealer gamma positive supports pinning

Premium Opportunities

#1
Cash-secured put
Sell 2026-07-17 $55.00 cash-secured put
Sell 2026-07-17 $55 put for ~$0.44-$0.54 credit. Captures elevated IV, defined downside.
Credit: $0.44-$0.54
Max loss: $54.46
BE: $54.46
Mgmt: Close if spot nears $57 or before expiry. Roll if needed.
#2
Iron condor
Sell 2026-07-24 $55.00/$51.00 put wing and $60.00/$65.00 call wing
Sell put spread $55/$51 and call spread $60/$65 for ~$0.99-$1.21 credit, max loss $3.79.
Credit: $0.99-$1.21
Max loss: $3.79
BE: 53.79 / 61.21
Mgmt: Close early if spot approaches either wing or before expiry to avoid gamma.

Risk Alerts

!Short put spreads exposed to pin risk near $57 max pain if spot pins
!Avoid holding short put spreads through expiry due to gap risk below $56.65
How to Use These Reports
This theta reflects the market close on June 26, 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.