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FXI

iShares China Large-Cap ETFClose $36.28EOD only

Max Pain

$37.00

Next expiry May 22, 2026

Expected Move

±$0.67

1.8% from close

Price Gap

+0.72

Distance to max pain

IV Rank

Low premium

P/C OI

0.89

Slightly call-heavy

Consensus

8.5/10

Bearish tilt

Published snapshot: May 19, 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

May 19, 2026 close

FXI Flow Report

Analysis based on market close May 15, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from May 15, 2026. A newer flow report is available for May 19, 2026.

View latest report

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 VIX 18

Watch next session: Gamma flip at 32; Put volume ratio

Flow Summary

Net premium: -$6.4M bearish

P/C volume ratio: 1.77

P/C OI ratio: 0.84

Heavy put buying and negative gamma keep FXI bearish. Net premium -$6.4M, put/call volume 1.77, and GEX -$132M. Spot below MP. Watch for continued selling or break below 32.

Notable Prints

FXI 2026-05-22 $35.00 Put

Vol: 5,003

OI: 224

Vol/OI: 22.3x

IV: 38.1%

Notional: ~$45K

Intent: Bearish hedge or speculation

Dual read: Institutional hedging vs retail speculative put buying

Read-through: Indicates strong downside protection or bearish sentiment

FXI 2026-05-22 $36.00 Put

Vol: 2,725

OI: 815

Vol/OI: 3.3x

IV: 21.3%

Notional: ~$93K

Intent: Bearish position or hedge adjustment

Dual read: Profit-taking on prior bearish bets vs new bearish opening

Read-through: Reinforces bearish near-term outlook

FXI 2026-06-05 $38.00 Call

Vol: 379

OI: 137

Vol/OI: 2.8x

IV: 24.7%

Notional: ~$11K

Intent: Speculative bullish bet

Dual read: Covered call writing vs long call opening

Read-through: Contrarian bullish signal against prevailing bearish flow

Institutional Positioning

Call additions: Minimal; small 38C OI increase.

Put additions: Heavy put buying at 35/36; vol/OI ratios 22.3 and 3.3.

GEX/DEX consistency: Mixed: DEX long (bullish), GEX negative (bearish), aligned with bearish flow.

OI clusters: Put OI concentration at 35-36 (126k contracts at 35P).

Hedging evidence: Unusual put volume suggests hedging downside risk.

Max pain context: Below MP; gamma flip at 32 indicates pinning lower.

Signal vs Noise

~Heavy put buying with high vol/OI ratios is real bearish signal

~GEX negative confirms downside risk

~Small call addition at 38 is noise relative to put activity

Key Conclusions

🐻Aggressive put buying at 35/36; net premium -6.4M bearish

⚠️GEX -132M, DEX +139M; dealers short gamma, risk of squeeze

📉Spot below MP; gamma flip at 32 suggests drop

How to Use These Reports

This flow reflects the market close on May 15, 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.