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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

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 12, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

6 / 10

base 5; -1 GEX/flow contradict; +1 spot 0.8% from MP; +1 VIX 18

IV Environment

IV Regime

Normal

IV vs VIX

IV avg 38% well above VIX 17.68, indicating premium selling opportunity.

Favorable?

Yes

Term structure: Near-term backwardation with high 0dte IV; longer-dated contango. Decay expected.

⚠️Negative GEX (-$112M) signals dealer short gamma, increasing pin risk.

📈IV elevated across tenors relative to VIX; selling premium attractive.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-112.4M)

Gamma flip: ~$32.00 — Approx — based on put OI concentration of 125,414 (9.3% below spot)

OI concentrations: Put OI wall $32 (125k contracts); Call OI wall $38-$40; Max pain $35.

Verdict: Elevated pin risk due to 0dte expiry and OI near spot. Expect pinning near $35.

Premium Opportunities

Iron condor

Sell 2026-07-10 $33.00/$30.00 put wing and $37.00/$40.00 call wing

Sell $33/$30 put wing and $37/$40 call wing for net credit ~$0.51.

Credit: $0.41-$0.51

Max loss: $2.49

BE: 32.49 / 37.51

Mgmt: Close at 50% max profit or near expiration; adjust if spot breaks $34 or $36. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.; short_call: Wide spread (182%).; long_call: Open interest below 25.

Put credit spread

Sell 2026-07-10 $33.00/$30.00 put spread

Sell $33/$30 put spread for credit ~$0.28.

Credit: $0.23-$0.28

Max loss: $2.72

BE: $32.72

Mgmt: Exit if spot drops below $34; consider rolling down. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.

Call credit spread

Sell 2026-07-10 $37.00/$40.00 call spread

Sell $37/$40 call spread for credit ~$0.23.

Credit: $0.19-$0.23

Max loss: $2.77

BE: $37.23

Mgmt: Exit if spot rises above $36.50; consider rolling up. Liquidity warning: Liquidity constraints: short_call: Wide spread (182%).; long_call: Open interest below 25.

Risk Alerts

!Negative gamma amplifies move risk on spot breaks.

!0dte options show extreme IV skew; avoid naked positions.

!Key levels: support $34.13, resistance $36.45; breakouts risky.

How to Use These Reports

This theta reflects the market close on June 12, 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.