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FXI

iShares China Large-Cap ETFClose $36.97EOD only

Max Pain

$36.50

Next expiry Apr 24, 2026

Expected Move

±$0.59

1.6% from close

Price Gap

-0.47

Distance to max pain

IV Rank

Low premium

P/C OI

1.15

Slightly put-heavy

Consensus

6.0/10

Bearish tilt

Published snapshot: Apr 22, 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

Apr 22, 2026 close

FXI Flow Report

Analysis based on market close April 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.4% from MP; +0.5 VIX 19

Watch next session: Monitor short‑dated call/put flow and OI shifts; Watch spot vs. MPs around gamma_flip 32 and changes in GEX

Flow Summary

Net premium: -$4.6M bearish

P/C volume ratio: 1.16

P/C OI ratio: 1.15

Overall downside bias: meaningful negative GEX and elevated put activity push bearish, but concentrated short‑dated call buying and big share demand create a mixed flow that can cap losses if sustained.

Notable Prints

FXI 2026-05-01 $38.50 Call

Vol: 7,000

OI: 562

Vol/OI: 12.5x

IV: 48.8%

Notional: ~$84K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

FXI 2026-05-15 $37.50 Call

Vol: 1,003

OI: 101

Vol/OI: 9.9x

IV: 26.3%

Notional: ~$44K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

FXI 2026-05-01 $37.00 Call

Vol: 1,585

OI: 215

Vol/OI: 7.4x

IV: 24.2%

Notional: ~$41K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

FXI 2026-05-01 $36.50 Put

Vol: 701

OI: 308

Vol/OI: 2.3x

IV: 28.6%

Notional: ~$32K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

FXI 2026-11-20 $32.00 Put

Vol: 555

OI: 258

Vol/OI: 2.1x

IV: 29.0%

Notional: ~$53K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Large May‑01 37.5C prints (~3.8k OI) plus 37/38.5C flow — short‑dated call buying

Put additions: Put concentration at 36.5 (May) and 32.0 (Nov); overall put OI > call OI

GEX/DEX consistency: Negative GEX (‑$91.6M) vs DEX buy (+124M shares): dealers are short delta while buy‑side accumulates stock

OI clusters: Major OI at 37.5C (~3.8k) and 37.0–38.5 calls; put clusters at 36.5 and 32.0

Hedging evidence: Elevated put OI and collar-like structures visible — protective hedging by holders

Max pain context: Spot sits below max pain; short‑term pin probability concentrated around 37.5–38 rather than a firm directional path

Signal vs Noise

~Signal: concentrated May‑01 37.5C prints imply dealer hedging/short delta and bullish short‑dated exposure

~Signal: elevated put OI and negative net premium indicate genuine downside protection demand

~Noise: lone large 38.5C print with tiny OI/very high vol‑OI likely trade flow, not a sustained position

Key Conclusions

⚖️Dealers appear net short delta while buy‑side accumulates stock—market supported but sensitive to downside moves

🔎Elevated short‑term pin probability at 37.5–38 driven by concentrated OI and expiries; monitor put heavy strikes for downside support

How to Use These Reports

This flow reflects the market close on April 23, 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.