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FXI

iShares China Large-Cap ETFClose $35.29EOD only

Max Pain

$38.00

Next expiry Jun 18, 2026

Expected Move

±$0.94

2.6% from close

Price Gap

+2.71

Distance to max pain

IV Rank

High premium

P/C OI

0.84

Slightly call-heavy

Consensus

6.0/10

Range bias

Published snapshot: Jun 12, 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 12, 2026 close

FXI Flow Report

Analysis based on market close June 11, 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 June 11, 2026. A newer flow report is available for June 12, 2026.

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Flow Verdict

Confidence:

7.5 / 10

base 5; +1 GEX/flow weakly aligned; +1 spot 0.3% from MP; +0.5 VIX 19

Watch next session: 35.5 strike; gamma flip $34; VIX direction

Flow Summary

Net premium: -$104K bearish

P/C volume ratio: 1.34

P/C OI ratio: 0.84

Net premium negative, put/call volume ratio >1, and negative gamma dominate. Unusual put on 35.5 and long-dated calls add mixed signals, but flow leans bearish. Spot near gamma flip at $34 — a break lower would confirm.

Notable Prints

FXI 2026-06-18 $35.50 Put

Vol: 11,500

OI: 203

Vol/OI: 56.6x

IV: 56.3%

Notional: ~$1.7M

Intent: Bearish speculation or hedge near expiry, given extreme vol/oi ratio and high IV.

Dual read: Position could be part of a put spread or a bear put ladder.

Read-through: Intense short-term bearish sentiment.

FXI 2027-01-15 $31.00 Call

Vol: 5,017

OI: 130

Vol/OI: 38.6x

IV: 49.5%

Notional: ~$2.5M

Intent: Bullish directional bet or synthetic long, buying ITM calls long-dated.

Dual read: May be rolling a prior position or part of a call spread.

Read-through: Institutional bullish view on China equities.

FXI 2026-06-18 $35.50 Call

Vol: 11,710

OI: 3,111

Vol/OI: 3.8x

IV: 19.1%

Notional: ~$164K

Intent: Speculative OTM call buying or part of a straddle with the put at same strike.

Dual read: Could be a short call if volatility selling.

Read-through: Positioning for a volatility event or directional move.

FXI 2027-01-15 $30.00 Call

Vol: 981

OI: 372

Vol/OI: 2.6x

IV: 51.5%

Notional: ~$525K

Intent: Similar bullish ITM call buying for long-term upside.

Dual read: Could be hedging short stock or a covered call.

Read-through: Reinforces bullish bias in longer-dated options.

FXI 2026-07-17 $41.00 Put

Vol: 4,064

OI: 1,616

Vol/OI: 2.5x

IV: 113.3%

Notional: ~$2.6M

Intent: Tail risk hedge against a sharp decline, given far OTM strike and high IV.

Dual read: Could be a short put if written for premium collection.

Read-through: Market pricing in tail risk for FXI.

Institutional Positioning

Call additions: Long-dated Jan 2027 $30-$31 calls vol/oi up to 38.6; weekly $35.5 call vol 11.7k.

Put additions: Weekly $35.5 put vol 11.5k (oi 203); Jul $41 put vol 4.1k (oi 1.6k).

GEX/DEX consistency: Yes: customer put buying→dealer short gamma (GEX -139M) and long delta (DEX +147M).

OI clusters: Largest OI: $35.5 call (3.1k) and $41 put (1.6k); put concentration at $34 gamma flip.

Hedging evidence: High vol/oi puts at $35.5 & $41 suggest hedging or tail risk.

Max pain context: MP near spot ~$35; weekly pin expected $34-$35.

Signal vs Noise

~Long-dated call buying is real conviction for 2027.

~Near-term put buying likely hedging, not directional bet.

~Dealer short gamma amplifies spot swings.

~High IV on $41 put is tail hedging, not typical flow.

Key Conclusions

📈Institutions adding 2027 calls at $30-$31.

🛡️High put vol at $35.5 and $41 likely hedging, not bearish conviction.

📌Max pain and gamma flip pin near $34-$35 this week.

How to Use These Reports

This flow reflects the market close on June 11, 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.