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DIA

SPDR Dow Jones Industrial Average ETFClose $521.44EOD only

Max Pain

$495.00

Next expiry Jun 18, 2026

Expected Move

±$5.40

1.0% from close

Price Gap

-26.44

Distance to max pain

IV Rank

100

High premium

P/C OI

1.88

Slightly put-heavy

Consensus

6.5/10

Range bias

Published snapshot: Jun 16, 2026 close

End-of-day snapshot

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

Published Snapshot

Jun 16, 2026 close

DIA Theta Report

Analysis based on market close June 16, 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 5.3% from MP; +1 VIX 16

IV Environment

IV Regime

Low

IV vs VIX

Avg IV 19.8% vs VIX 16.4: elevated by ~21%

Favorable?

Yes

Term structure: Mixed; near-term put skew extreme (2d put IV 82.8), ATM dips at 16-24d then rises

📉2d put IV 82.8 vs call 41.8: extreme skew

📌Max pain pins: $495 (6/18), $511 (6/26)

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+73.4M)

Gamma flip: ~$420.00 — Approx — based on put OI concentration of 6,723 (19.5% below spot)

OI concentrations: OI at $495 (6/18), $511 (6/26), $495 (6/30); put OI 6.7k, 19.5% below spot

Verdict: High pin risk near $495 and $511; spot above MP suggests support

Premium Opportunities

Call credit spread

Sell 2026-07-17 $525.00/$530.00 call spread

Sells OTM call spread to profit from time decay and limited upside.

Credit: $1.87-$2.28

Max loss: $2.72

BE: $527.28

Mgmt: Close if DIA breaks above $531.64; monitor near-term skew.

Risk Alerts

!Near-term put skew signals hedging pressure; monitor spot for gap moves

!Term structure dip at 16-24d may indicate event risk

How to Use These Reports

This theta reflects the market close on June 16, 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.