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FXI

iShares China Large-Cap ETFClose $34.69EOD only

Max Pain

$35.00

Next expiry Jun 12, 2026

Expected Move

±$0.63

1.8% from close

Price Gap

+0.31

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.86

Slightly call-heavy

Consensus

6.0/10

Bullish tilt

Published snapshot: Jun 9, 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

Jun 9, 2026 close

FXI Flow Report

Analysis based on market close June 10, 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; +1 spot 0.7% from MP

Watch next session: FXI

Flow Summary

Net premium: -$3.2M bearish

P/C volume ratio: 1.02

P/C OI ratio: 0.84

Heavy put unusual prints and negative GEX (-$94.5M) suggest bearish hedging, despite put/call OI ratio below 1. Mixed flow with trending gamma maintains short-term negative bias.

Notable Prints

FXI 2027-05-21 $20.00 Put

Vol: 1,151

OI: 370

Vol/OI: 3.1x

IV: 38.1%

Notional: ~$29K

Intent: Hedging long positions against tail risk

Dual read: Speculative low-cost bearish bet

Read-through: Expects extreme downside beyond 1 year

FXI 2026-07-17 $41.00 Put

Vol: 4,064

OI: 2,128

Vol/OI: 1.9x

IV: 107.2%

Notional: ~$2.6M

Intent: Bearish position or hedge against sharp decline

Dual read: Could be part of a put backspread amid high IV

Read-through: Expects significant drop to $41 by mid-2026

FXI 2026-08-21 $35.00 Put

Vol: 5,040

OI: 2,776

Vol/OI: 1.8x

IV: 27.7%

Notional: ~$756K

Intent: Protective put or bearish speculation

Dual read: Possible component of a bear spread

Read-through: Expects decline to $35 by August 2026

Institutional Positioning

Call additions: Minimal call activity; OI ratio favors calls but no unusual flow.

Put additions: Unusual puts: $20/2027 (tail), $41/Jul (107% IV, 4k vol), $35/Aug (5k vol).

GEX/DEX consistency: GEX -$94.5M aligns with put demand; DEX +147M shares contradicts but OI call-heavy.

OI clusters: Put OI cluster at 125k contracts ~7.9% below spot; gamma flip at $32.

Hedging evidence: High IV on $41 put suggests short-dated downside hedging; tail put $20 likely portfolio hedge.

Max pain context: Spot near max pain; GEX/DEX and flow mixed, pin action expected.

Signal vs Noise

~Signal: $41 put with 107% IV, large vol/oi ratio – hedgers expecting near-term drop.

~Signal: $35 put with 5k vol/2.8k OI – directional put buying.

~Noise: $20 far-dated put with only 1.2k vol – likely tail risk premium collection.

~Signal: GEX negative at -$94.5M vs DEX positive – gamma positioning favors downside.

Key Conclusions

🔻Put flow dominates with unusual short-dated $41 strike; extreme IV highlights fear.

⚠️GEX negative and put OI cluster below spot; downside gamma risk elevated.

📊DEX positive but call OI not activated; market neutral with downward bias.

How to Use These Reports

This flow reflects the market close on June 10, 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.