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FXI

iShares China Large-Cap ETFClose $31.91EOD only

Max Pain

$33.50

Next expiry Jul 10, 2026

Expected Move

±$0.94

3.0% from close

Price Gap

+1.59

Distance to max pain

IV Rank

Low premium

P/C OI

0.70

Slightly call-heavy

Consensus

7.5/10

Bearish tilt

Published snapshot: Jul 2, 2026 close

End-of-day snapshot

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

Published Snapshot

Jul 2, 2026 close

FXI Flow Report

Analysis based on market close June 29, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 11.9% from MP; +1 VIX 18

Watch next session: $30 gamma flip; put volume trend

Flow Summary

Net premium: -$56.6M bearish

P/C volume ratio: 2.05

P/C OI ratio: 0.73

FXI sees heavy put activity with negative gamma, bearish flow regime, and spot below max pain, despite elevated VIX. Large $36 put block expiring soon signals aggressive downside hedging.

Notable Prints

FXI 2027-03-19 $32.00 Call

Vol: 10,115

OI: 125

Vol/OI: 80.9x

IV: 47.4%

Notional: ~$2.9M

Intent: Bullish speculation

Read-through: High vol/OI ratio

FXI 2026-09-30 $32.00 Put

Vol: 2,010

OI: 221

Vol/OI: 9.1x

IV: 56.1%

Notional: ~$334K

Intent: Bearish hedge

Read-through: Put buying

FXI 2026-09-18 $31.00 Call

Vol: 2,549

OI: 424

Vol/OI: 6.0x

IV: 65.8%

Notional: ~$530K

Intent: Bullish

Read-through: Call accumulation

FXI 2026-08-21 $41.00 Put

Vol: 4,440

OI: 1,053

Vol/OI: 4.2x

IV: 61.0%

Notional: ~$4.0M

Intent: Volatility hedge

Dual read: OTM put

Read-through: Deep OTM put

FXI 2026-07-17 $41.00 Put

Vol: 2,940

OI: 761

Vol/OI: 3.9x

IV: 168.2%

Notional: ~$2.7M

Intent: Volatility hedge

Dual read: OTM put

Read-through: Deep OTM put

Institutional Positioning

Call additions: 2027 $32 C (80.9x OI), 2026 $31/$34 C

Put additions: Jun30 $36 P (33.5k vol, 384% IV), Jul/Aug $38-$41 P

GEX/DEX consistency: GEX -$14.8M bearish; DEX +109.8M shares hedging

OI clusters: OI: $30 put wall (74.3k), $36 puts (9.5k), $41 puts (1k+)

Hedging evidence: Jun30 put surge (3.5x OI) signals hedging/ bearish positioning

Max pain context: Spot $31.77 vs gamma flip $30 (-5.4%), pin risk near $30

Signal vs Noise

~Jun30 $36 P volume surge (33.5k) key signal

~2027 $32 C accumulation (80.9x OI) signals long-term bullish view

~Small OTM put prints (<2x OI) likely noise

Key Conclusions

⚠️Heavy put flow ahead of month-end suggests hedging; spot below MP with gamma flip at $30.

📈Long-dated call buying (2027 $32) shows institutional upside positioning.

How to Use These Reports

This flow reflects the market close on June 29, 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.