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FXI

iShares China Large-Cap ETFClose $36.08EOD only
Max Pain
$35.50
Next expiry Aug 7, 2026
Expected Move
±$0.37
1.0% from close
Price Gap
-0.58
Distance to max pain
IV Rank
7
Low premium
P/C OI
0.84
Slightly call-heavy
Consensus
7.5/10
Bearish tilt
Published snapshot: Aug 5, 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
Aug 5, 2026 close
FXI Theta Report
Analysis based on market close June 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 22, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Bear put spreads
Invalidation: Spot above $34 or VIX below 17
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 3.1% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 31.7% vs VIX 17.3 – elevated, favoring sellers.
Favorable?
Yes

Term structure: Extreme put skew at front: 4d put IV 112% vs call 29.7%. Short-term elevated.

⚠️4d put IV 112% – extreme fear pricing.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-83.1M)

Gamma flip: ~$25.00 — Approx — based on put OI concentration of 88,000 (25.2% below spot)

OI concentrations: Max pain: $34 (26Jun), $36 (30Jun), $34 (2Jul). Call wall $37-$42, put floor $25.

Verdict: High pin risk near $34 and $25. Heavy put OI may pin but bearish flow weighs.

Premium Opportunities

#1
Call credit spread
Sell 2026-07-17 $35.00/$36.00 call spread
Selling call spread to profit from downside or sideways movement.
Credit: $0.14-$0.17
Max loss: $0.83
BE: $35.17
Mgmt: Monitor spot near $34 invalidation; close if spot rises above $34.05.
#2
Put credit spread
Sell 2026-07-17 $33.00/$32.00 put spread
Selling put spread to collect premium with defined risk.
Credit: $0.23-$0.29
Max loss: $0.71
BE: $32.71
Mgmt: Monitor spot and implied volatility; close if spot drops below $33.

Risk Alerts

!Put/call volume ratio 3.34 – aggressive put buying.
!Dealer net short gamma $83M – amplifies moves.
!Spot below nearest max pain $34 – bearish bias.
How to Use These Reports
This theta reflects the market close on June 22, 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.