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FXI

iShares China Large-Cap ETFClose $32.83EOD only

Max Pain

$34.50

Next expiry Jun 26, 2026

Expected Move

±$1.53

4.7% from close

Price Gap

+1.67

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.80

Slightly call-heavy

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 23, 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 23, 2026 close

FXI Flow Report

Analysis based on market close June 24, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.8% from MP; +0.5 VIX 19

Watch next session: $40 put strike; $38 put strike; put/call volume ratio above 2.0

Flow Summary

Net premium: -$46.3M bearish

P/C volume ratio: 2.97

P/C OI ratio: 0.80

Heavy put accumulation across July and September expirations, led by aggressive buys at $40 and $38 strikes. Net premium negative $46M, put/call volume ratio near 3.0. Unusual prints five of six puts. Resistance at $38-$40. No significant call support. Bearish flow.

Notable Prints

FXI 2026-07-17 $38.00 Put

Vol: 1,868

OI: 741

Vol/OI: 2.5x

IV: 41.8%

Notional: ~$1.1M

Intent: Bearish hedge

Read-through: Downside protection

FXI 2026-07-17 $41.00 Put

Vol: 1,606

OI: 761

Vol/OI: 2.1x

IV: 74.6%

Notional: ~$1.2M

Intent: Bearish bet

Read-through: Aggressive downside

FXI 2026-09-18 $43.00 Put

Vol: 3,000

OI: 1,500

Vol/OI: 2.0x

IV: 54.2%

Notional: ~$3.0M

Intent: Bearish into Sep

Dual read: Hedging or rolling

Read-through: Expects weakness

FXI 2026-08-21 $33.00 Call

Vol: 1,167

OI: 620

Vol/OI: 1.9x

IV: 55.0%

Notional: ~$118K

Intent: Bullish speculation

Dual read: Hedge for put

Read-through: Possible reversal

FXI 2026-07-17 $40.00 Put

Vol: 9,776

OI: 6,243

Vol/OI: 1.6x

IV: 69.1%

Notional: ~$6.5M

Intent: Large bearish position

Dual read: Rolling or profit-taking

Read-through: Strong downside

Institutional Positioning

Call additions: Negligible; only minor Aug $33 call (1.2K vol).

Put additions: Heavy: Jul17 $38, $40, $41 and Sep18 $41, $43 (e.g., $40: 9.8K vol vs 6.2K OI).

GEX/DEX consistency: Consistent: GEX -$76.7M (negative gamma), DEX +104.3M shares (dealer long) reinforce bearish flow.

OI clusters: Put OI concentrated at $40 (6.2K), $41 (5.4K Sep), $38 (0.7K Jul); 88K total put OI below spot.

Hedging evidence: Puts dominate: 2.97 put/call vol ratio, bearish flow regime, large put prints suggest hedging or directional shorts.

Max pain context: Spot 4.8% below MP; put-heavy OI pins downside pressure.

Signal vs Noise

~High put volume ratio (2.97) is signal

~Unusual large put prints on $40 & $41 Jul/Sep are signal

~Call on $33 Aug with moderate volume may be noise

~Spot far from MP but put accumulation suggests continued downside risk

Key Conclusions

🔴Institutions aggressively adding downside protection via puts, especially Jul $38-$41 and Sep $43.

⚠️Dealers net long delta (DEX +104M) but flow is heavily bearish; gamma flip at $25 implies strong put resistance.

How to Use These Reports

This flow reflects the market close on June 24, 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.