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FXI

iShares China Large-Cap ETFClose $32.36EOD only

Max Pain

$34.00

Next expiry Jun 26, 2026

Expected Move

±$1.07

3.3% from close

Price Gap

+1.64

Distance to max pain

IV Rank

Low premium

P/C OI

0.80

Slightly call-heavy

Consensus

6.0/10

Bearish tilt

Published snapshot: Jun 24, 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 24, 2026 close

FXI Flow Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 6.8% from MP; +0.5 VIX 19

Watch next session: $25 gamma flip; put/call volume ratio <1.5

Flow Summary

Net premium: -$145.4M bearish

P/C volume ratio: 2.71

P/C OI ratio: 0.79

Aggressive put buying dominates, signaling heavy downside hedging. Net premium deeply negative with put volume 2.7x calls. Bears control order flow.

Notable Prints

FXI 2027-01-15 $33.00 Call

Vol: 54,679

OI: 336

Vol/OI: 162.7x

IV: 47.1%

Notional: ~$10.4M

Intent: Bullish

Read-through: Risk reversal

FXI 2027-01-15 $31.00 Put

Vol: 54,654

OI: 1,121

Vol/OI: 48.8x

IV: 47.0%

Notional: ~$10.2M

Intent: Sell put

Read-through: Risk reversal

FXI 2026-08-21 $42.00 Put

Vol: 21,860

OI: 5,000

Vol/OI: 4.4x

IV: 97.8%

Notional: ~$22.6M

Intent: Sell put

Read-through:

FXI 2026-08-21 $39.00 Put

Vol: 9,950

OI: 2,256

Vol/OI: 4.4x

IV: 88.9%

Notional: ~$7.3M

Intent: Sell put

Read-through:

FXI 2026-08-21 $41.00 Put

Vol: 4,440

OI: 1,073

Vol/OI: 4.1x

IV: 83.2%

Notional: ~$4.0M

Intent: Sell put

Read-through:

Institutional Positioning

Call additions: Jan 2027 $33C 54.7k vol, 163x OI – long-dated call buying.

Put additions: Heavy puts: Jan 2027 $31P, Jul $37P, Aug $42P – institutional downside hedging.

GEX/DEX consistency: GEX -$51M vs DEX +106M – mixed gamma/delta positioning.

OI clusters: Put OI concentrated near gamma flip ~25; large OI at $33C/$31P.

Hedging evidence: Collar: long $33C and $31P suggests range bound; near-term puts.

Max pain context: Spot below MP; pinning expect higher.

Signal vs Noise

~Signal: Jan 2027 $33C 163x vol/OI – institutional call buying

~Signal: Put ratio 2.71, net prem -$145M – bearish flow

~Signal: Negative GEX – amplifies moves

~Noise: Small puts <$37 likely retail

Key Conclusions

🐻Heavy put additions reinforce bearish outlook.

⚠️Negative gamma warns of sharp downside risk.

⚖️Long call with puts suggests collar/range bet.

How to Use These Reports

This flow reflects the market close on June 25, 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.