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FXI

iShares China Large-Cap ETFClose $35.04EOD only
Max Pain
$33.50
Next expiry Jul 24, 2026
Expected Move
±$0.76
2.1% from close
Price Gap
-1.54
Distance to max pain
IV Rank
7
Low premium
P/C OI
0.89
Slightly call-heavy
Consensus
7.5/10
Bearish tilt
Published snapshot: Jul 20, 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 20, 2026 close
FXI Theta Report
Analysis based on market close June 5, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 5, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Bearish call credit spread
Invalidation: FXI closes above $36
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 spot 0.7% from MP; +0.5 VIX 22

IV Environment

IV Regime
Normal
IV vs VIX
Average IV 50% vs VIX 21.5% - wide gap indicates rich premiums
Favorable?
Yes

Term structure: Steep contango with extreme skew in 0DTE; mid-term IV normalizing

🔥IV at 50% vs VIX 21.5% - premium selling favorable

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-87.0M)

Gamma flip: ~$32.00 — Approx — based on put OI concentration of 125,414 (7.9% below spot)

OI concentrations: Put OI concentrated at $32 (125,414 contracts, 7.9% below spot); call wall at $37-$40

Verdict: High put OI at $32 creates downside pin risk; call wall caps upside

Premium Opportunities

Risk Alerts

!Negative dealer gamma (-$87M) may amplify volatility
!Bearish flow with put/call volume ratio 1.44
!Spot near max pain $35 with low gamma flip at $32
How to Use These Reports
This theta reflects the market close on June 5, 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.