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FXI

iShares China Large-Cap ETFClose $33.19EOD only
Max Pain
$32.50
Next expiry Nov 6, 2026
Expected Move
±$0.62
1.9% from close
Price Gap
-0.69
Distance to max pain
IV Rank
10
Low premium
P/C OI
1.05
Balanced positioning
Consensus
7.5/10
Bearish tilt
Published snapshot: Nov 3, 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
Nov 3, 2026 close
FXI Theta Report
Analysis based on market close June 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 15, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness5 / 10
Sizing: Conservative
Primary: Put credit spreads at $32 support
Invalidation: Break below $32 gamma flip
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 7.6% from MP; +1 VIX 16

IV Environment

IV Regime
Normal
IV vs VIX
IV (35.36%) well above VIX (16.2) — elevated premium.
Favorable?
Yes

Term structure: Front-end 3d IV 22% low, then 11-15d ~25%, longer-dated 35%+. Skew favors puts.

📈IV 35% vs VIX 16 — high premium environment.
⚠️Bearish flow and spot below MP — use caution.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-306.7M)

Gamma flip: ~$32.00 — Approx — based on put OI concentration of 125,414 (8.9% below spot)

OI concentrations: Call OI wall $37-$40; put floor $32; max pain pins $38 (6/18), $36 (6/26), $37 (6/30).

Verdict: Moderate pin risk — OI clusters anchor price; expiry pin at $38 nearby.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $35.00/$29.00 put spread
Sell $35/$29 put spread to collect premium with defined risk below $29.
Credit: $0.67-$0.82
Max loss: $5.18
BE: $34.18
Mgmt: Close if FXI breaks below $32 gamma flip or IV collapses.

Risk Alerts

!Bearish dealer flow (put/call vol 1.35) suggests downside hedging.
!Gamma flip at $32 — break could accelerate selloff.
!Front-end IV low (22% at 3d) may not reflect tail risk.
How to Use These Reports
This theta reflects the market close on June 15, 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.