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FXI

iShares China Large-Cap ETFClose $33.19EOD only
Max Pain
$34.00
Next expiry Oct 9, 2026
Expected Move
±$0.73
2.2% from close
Price Gap
+0.81
Distance to max pain
IV Rank
10
Low premium
P/C OI
0.96
Balanced positioning
Consensus
7.5/10
Bearish tilt
Published snapshot: Oct 2, 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
Oct 2, 2026 close
FXI Theta Report
Analysis based on market close May 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 22, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Short Put Vertical
Invalidation: Spot breaks support at $35
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.0% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Elevated: avg IV 32.9% vs VIX 16.7
Favorable?
Yes

Term structure: Front-end extreme skew (0 DTE put IV 210%), rest mixed 22-29%

⚠️Put skew extreme at short expiry, pin risk elevated
📊Call OI wall $38-$41 caps upside

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-130.7M)

Gamma flip: ~$32.00 — Approx — based on put OI concentration of 126,420 (9.9% below spot)

OI concentrations: Put floor $32; call wall $38-$41; max pain $37

Verdict: Moderate pin risk near $37, support $35

Premium Opportunities

#1
Iron condor
Sell 2026-06-18 $35.00/$34.00 put wing and $39.00/$40.00 call wing
Sells put wing at $35/$34 and call wing at $39/$40, capturing premium from range expectation.
Credit: $0.26-$0.31
Max loss: $0.69
BE: 34.69 / 39.31
Mgmt: Monitor spot near $35 support; consider early close if IV collapses. Liquidity warning: Liquidity constraints: short_put: Wide spread (55%).; long_put: Wide spread (91%).; short_call: Wide spread (67%).; long_call: Wide spread (108%).
#2
Call credit spread
Sell 2026-06-18 $39.00/$40.00 call spread
Sells $39/$40 call spread, profit if FXI stays below $39.
Credit: $0.01-$0.01
Max loss: $0.99
BE: $39.01
Mgmt: Set stop loss if spot breaches $39. Liquidity warning: Liquidity constraints: short_call: Wide spread (67%).; long_call: Wide spread (108%).

Risk Alerts

!Spot below max pain
!Bearish dealer gamma (-$130.7M)
!Put/Call volume ratio 1.87 suggests bearish sentiment
How to Use These Reports
This theta reflects the market close on May 22, 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.