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FXI

iShares China Large-Cap ETFClose $33.30EOD only
Max Pain
$35.00
Next expiry Jun 26, 2026
Expected Move
±$3.17
9.5% from close
Price Gap
+1.70
Distance to max pain
IV Rank
100
High premium
P/C OI
0.74
Slightly call-heavy
Consensus
8.0/10
Bearish tilt
Published snapshot: Jun 18, 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 18, 2026 close
FXI Theta Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Bear call spreads
Invalidation: FXI closes below $32 support (gamma flip)
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 10.0% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
Avg IV 53.5% >> VIX 16.4 – elevated skew
Favorable?
Yes

Term structure: 0DTE put IV 185; front-month elevated, erratic decay

⚠️Neg gamma -$241.5M amplifies moves
📉Put/call vol ratio 2.55 bearish
🎯Spot $32.6 far below $37 max pain

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-241.5M)

Gamma flip: ~$32.00 — Approx — based on put OI concentration of 125,414 (3.9% below spot)

OI concentrations: Call wall $37-$40; put support $32-$29.64

Verdict: Elevated pin risk: spot far below max pain; high OI at $37 calls and $32 puts

Premium Opportunities

#1
Call credit spread
Sell 2026-07-10 $40.00/$40.50 call spread
Sell 2026-07-10 $40/$40.50 call spread, capturing premium from elevated IV.
Debit: $0.08-$0.10
Max loss: $0.50
BE: $40.00
Mgmt: Exit at 50% max profit or if FXI closes above $36.95 invalidation. Watch pin risk at $37 calls. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Open interest below 25.

Risk Alerts

!Put/call volume ratio 2.55 suggests downside hedging
!Negative gamma environment can accelerate spot moves
!Spot well below max pain; pinning risk at expiration
How to Use These Reports
This theta reflects the market close on June 18, 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.