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FXI

iShares China Large-Cap ETFClose $33.43EOD only

Max Pain

$34.50

Next expiry Jun 26, 2026

Expected Move

±$0.71

2.1% from close

Price Gap

+1.07

Distance to max pain

IV Rank

Low premium

P/C OI

0.80

Slightly call-heavy

Consensus

7.5/10

Bearish tilt

Published snapshot: Jun 22, 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 22, 2026 close

FXI Theta Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.8% from MP; +0.5 VIX 19

IV Environment

IV Regime

Normal

IV vs VIX

49% avg IV vs VIX 19.5 – highly elevated

Favorable?

Yes

Term structure: Steep near-term put skew (3d put IV 117%); backwardation in front

⚠️Put IV 2.4x VIX, rich premiums but bearish flow

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-46.4M)

Gamma flip: ~$25.00 — Approx — based on put OI concentration of 88,001 (23.9% below spot)

OI concentrations: Max pain $34 (6/26), $36 (6/30), $34 (7/2); put OI 23.9% below spot

Verdict: High pin risk: spot below max pain, short gamma

Premium Opportunities

Put credit spread

Sell 2026-07-17 $32.00/$30.00 put spread

Sell $32/$30 put spread to exploit elevated IV (49% vs VIX 19.5).

Credit: $0.42-$0.51

Max loss: $1.49

BE: $31.49

Mgmt: Close at 50% profit or if spot breaks below $31.22. Liquidity warning: Liquidity constraints: short_put: Wide spread (125%).

Iron condor

Sell 2026-07-24 $31.00/$29.00 put wing and $36.50/$37.50 call wing

Sell $31/$29 put and $36.5/$37.5 call wings for vega decay.

Credit: $0.21-$0.25

Max loss: $1.75

BE: 30.75 / 36.75

Mgmt: Exit at 50% profit or if spot breaches wings. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.

Risk Alerts

!Short gamma amplifies moves

!Pin risk near $34-$36 OI clusters

!Gap risk if VIX surges

How to Use These Reports

This theta reflects the market close on June 23, 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.