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FXI

iShares China Large-Cap ETFClose $34.13EOD only

Max Pain

$33.50

Next expiry Jul 24, 2026

Expected Move

±$0.92

2.7% from close

Price Gap

-0.63

Distance to max pain

IV Rank

Low premium

P/C OI

0.78

Slightly call-heavy

Consensus

7.5/10

Bearish tilt

Published snapshot: Jul 17, 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

Jul 17, 2026 close

FXI Theta Report

Analysis based on market close June 4, 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 4, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

7.5 / 10

base 5; +1 GEX/flow weakly aligned; +0.5 spot 1.3% from MP; +1 VIX 15

IV Environment

IV Regime

Normal

IV vs VIX

IV 33% vs VIX 15%: elevated

Favorable?

Yes

Term structure: Front-end pin skew steep; back-month contango typical

📊IV elevated vs VIX; term structure offers premium in back months

⚠️1d put IV 154% signals extreme pin risk near $35

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Trending ($-89.5M)

Gamma flip: ~$32.00 — Approx — based on put OI concentration of 125,414 (9.8% below spot)

OI concentrations: Max pain $35; call wall $38-$40; put floor $32-$32; 125k puts at $32 (gamma flip)

Verdict: Spot above max pain reduces immediate downside pin risk, but $35 pin risk remains elevated

Premium Opportunities

Iron condor

Sell 2026-06-26 $33.50/$31.50 put wing and $38.50/$40.00 call wing

Sell 33.5/31.5 put spread and 38.5/40 call spread, theta positive.

Credit: $0.42-$0.52

Max loss: $1.48

BE: 32.98 / 39.02

Mgmt: Close at 50% max gain or if spot breaches wings. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.; short_call: Open interest below 25.; long_call: Open interest below 25.

Call diagonal

Sell 2026-06-26 $38.50 call / buy 2026-07-17 $37.00 call

Sell 6/26 call, buy 7/17 call; debit limited.

Debit: $0.07-$0.08

Max loss: $0.08

BE: Path-dependent

Mgmt: Manage if spot approaches sold strike; roll if needed. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Put credit spread

Sell 2026-07-02 $33.50/$31.50 put spread

Sell 33.5/31.5 put spread, theta positive.

Credit: $0.14-$0.18

Max loss: $1.82

BE: $33.32

Mgmt: Exit if spot breaks below invalidation level of $35. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.

Risk Alerts

!Gamma flip at $32 if spot drops -9.8% (125k put OI)

!Front-end put IV 154% warns of excessive near-term tail risk

How to Use These Reports

This theta reflects the market close on June 4, 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.