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FXI

iShares China Large-Cap ETFClose $35.29EOD only
Max Pain
$38.00
Next expiry Jun 18, 2026
Expected Move
±$0.94
2.6% from close
Price Gap
+2.71
Distance to max pain
IV Rank
70
High premium
P/C OI
0.84
Slightly call-heavy
Consensus
6.0/10
Range bias
Published snapshot: Jun 12, 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 12, 2026 close
FXI Theta Report
Analysis based on market close June 11, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 11, 2026. A newer theta report is available for June 12, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Not Provided
Invalidation: Not Provided
Confidence:
7.5 / 10
base 5; +1 GEX/flow weakly aligned; +1 spot 0.3% from MP; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
IV (39.98%) >2x VIX (19.44)
Favorable?
Yes

Term structure: Short-term IV declining from 32.72% to 28.76% (1-29d), then spike at 43d (42.07%).

💸Rich IV premium; favorable for sellers.
⚠️Negative dealer gamma -$138.9M amplifies risk.
📌Max pain $35; pin risk elevated.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-138.9M)

Gamma flip: ~$34.00 — Approx — based on put OI concentration of 126,084 (2.6% below spot)

OI concentrations: Call OI wall $37-$40; Put floor $32-$32; Max pain $35, $38, $36.

Verdict: Elevated pin risk near $35 front-month; put floor at $32 provides support.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-02 $33.00/$30.00 put spread
Sell $33/$30 put spread to collect credit while defined risk below support.
Credit: $0.09-$0.11
Max loss: $2.89
BE: $32.89
Mgmt: Monitor $34 invalidation; close at 50% profit or if FXI breaks below $32. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.
#2
Call credit spread
Sell 2026-07-02 $38.00/$41.00 call spread
Sell $38/$41 call spread to profit from capped upside.
Credit: $0.07-$0.09
Max loss: $2.91
BE: $38.09
Mgmt: Exit if FXI nears $37; take profit at 50% of credit. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Open interest below 25.
#3
Call calendar
Sell 2026-07-02 $35.00 call / buy 2026-08-21 $35.00 call
Short front-month $35 call vs long back-month call to capture vol decay.
Debit: $0.66-$0.81
Max loss: $0.81
BE: Path-dependent
Mgmt: Close if FXI moves near $35 before expiration. Liquidity warning: Liquidity constraints: short_call: Wide spread (98%).

Risk Alerts

!High IV premium but negative dealer gamma
!Bearish flow adds downside risk
!Pin risk clustering near $35
How to Use These Reports
This theta reflects the market close on June 11, 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.