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FXI

iShares China Large-Cap ETFClose $31.68EOD only

Max Pain

$34.00

Next expiry Jun 26, 2026

Expected Move

±$0.78

2.5% from close

Price Gap

+2.32

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.79

Slightly call-heavy

Consensus

6.0/10

Bearish tilt

Published snapshot: Jun 25, 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 25, 2026 close

FXI Flow Report

Analysis based on market close June 26, 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 5.7% from MP; +0.5 VIX 18

Watch next session: Monitor $36 put volume and open interest; Watch for dealer gamma hedging at $25

Flow Summary

Net premium: -$85.2M bearish

P/C volume ratio: 4.16

P/C OI ratio: 0.79

Extreme put flow with -$85M net premium and 4.16 put/call volume ratio signals strong bearish sentiment. Unusual prints confirm aggressive near-term put buying, especially Jun 30 $36 put (33k vol). Spot below MP ($34), negative gamma -$64M, high vol bearish regime. Downside pressure likely. Key level $31.

Notable Prints

FXI 2026-08-21 $35.00 Call

Vol: 8,116

OI: 478

Vol/OI: 17.0x

IV: 26.5%

Notional: ~$227K

Intent: Bullish bet or short hedge

Dual read: May be part of a call spread

Read-through: Contrarian bullish in bearish flow

FXI 2026-06-30 $31.00 Put

Vol: 1,753

OI: 282

Vol/OI: 6.2x

IV: 40.2%

Notional: ~$30K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

FXI 2026-08-21 $41.00 Put

Vol: 4,440

OI: 1,073

Vol/OI: 4.1x

IV: 108.6%

Notional: ~$4.0M

Intent: Deep ITM put buying for bearish view

Dual read: Possible synthetic short

Read-through: Strong bearish conviction on long-term downside

FXI 2026-07-17 $41.00 Put

Vol: 2,940

OI: 761

Vol/OI: 3.9x

IV: 53.1%

Notional: ~$2.7M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

FXI 2026-07-17 $39.00 Put

Vol: 4,460

OI: 1,165

Vol/OI: 3.8x

IV: 159.7%

Notional: ~$3.2M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: OTM call buying at $35 (Aug) and $32 (Jul).

Put additions: Aggressive put accumulation at $31, $36, $38, $39, $41 across Jun/Jul expirations.

GEX/DEX consistency: Negative GEX (-$64M) aligns with bearish flow; positive DEX (+117M shares) suggests dealer hedging upside.

OI clusters: Large put OI at $31 (3.5k) and $36 (9.5k); call OI scattered.

Hedging evidence: Large $41 put blocks (Aug & Jul) indicate collar/hedge activity.

Max pain context: Spot $31.20 below MP; put-heavy flow pinning lower.

Signal vs Noise

~Signal: massive put volume at $36 (33.4k) and $41 (4.4k+) signifies strong bearish positioning.

~Signal: high vol/OI ratios on $35 call (17x) and $31 put (2.2x) reflect active positioning.

~Noise: smaller prints (e.g., $32 call 1.5x) are less significant.

Key Conclusions

🐻Heavy put buying across strikes signals deep bearishness; net premium -$85M reinforces.

⚠️Dealers long DEX (+117M) may hedge delta; negative GEX amplifies downside gamma risk.

📉Spot below MP with put OI concentration suggests pinning lower; VIX 18 adds caution.

How to Use These Reports

This flow reflects the market close on June 26, 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.