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EFA

iShares MSCI EAFE ETFClose $104.41EOD only
Max Pain
$100.00
Next expiry Jun 26, 2026
Expected Move
±$4.05
3.9% from close
Price Gap
-4.41
Distance to max pain
IV Rank
79
High premium
P/C OI
2.08
Slightly put-heavy
Consensus
6.0/10
Neutral tilt
Published snapshot: Jun 18, 2026 close
End-of-day snapshot

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

Published Snapshot
Jun 18, 2026 close
EFA Theta Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short strangles outside $100-$110 range
Invalidation: Spot breaks beyond $100-$110 or VIX spikes above 20
Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 spot 0.4% from MP; +1 VIX 16

IV Environment

IV Regime
Normal
IV vs VIX
IV 39.3% vs VIX 16.4 - elevated premium, skew rich
Favorable?
Yes

Term structure: Front-end inverted (0DTE 73%); steady decay to ~26% at 1yr.

⚠️Put skew elevated: put IV > call IV across tenors; puts richly priced.
🔥0DTE expiry: extreme gamma and pin risk on front month.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-30.8M)

Gamma flip: ~$100.00 — Approx — based on put OI concentration of 43,995 (4.2% below spot)

OI concentrations: Put OI 43,995 at $100-$104 (4.2% below spot), call wall $110; max pain $104.

Verdict: High pin risk at 0DTE expiry: put OI heavy below, dealer negative gamma. Spot likely pins near $104.

Premium Opportunities

#1
Covered call
Buy shares + sell 2026-07-17 $110.00 call
Upside capped at $110 but captures time decay with defined risk.
Credit: $0.27-$0.33
Max loss: Stock downside to $0 less call premium
BE: $104.08
Mgmt: Monitor share price; roll or close if price approaches $110.
#2
Short strangle
Sell 2026-07-17 $100.00 put + sell $110.00 call
Sells out-of-the-money put and call to capture premium decay within $100-$110.
Credit: $0.82-$1.00
Max loss: Unlimited
BE: 99.00 / 111.00
Mgmt: Manage gamma risk near 0DTE; consider early close if pin risk escalates. Liquidity warning: Liquidity constraints: short_put: Wide spread (118%).
#3
Cash-secured put
Sell 2026-07-17 $100.00 cash-secured put
Sells $100 put to collect premium on support level.
Credit: $0.55-$0.67
Max loss: $99.33
BE: $99.33
Mgmt: Monitor $100 support; roll or let expire if spot holds. Liquidity warning: Liquidity constraints: short_put: Wide spread (118%).

Risk Alerts

!0DTE expiry: elevated gamma and pin risk
!Dealer negative GEX -$30.8M amplifies directional risk
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.