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FXI

iShares China Large-Cap ETFClose $36.17EOD only
Max Pain
$35.50
Next expiry Aug 14, 2026
Expected Move
±$0.89
2.5% from close
Price Gap
-0.67
Distance to max pain
IV Rank
3
Low premium
P/C OI
0.85
Slightly call-heavy
Consensus
7.5/10
Bearish tilt
Published snapshot: Aug 7, 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 7, 2026 close
FXI Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 24, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Short puts (skew)
Invalidation: Spot breaks below 30 support
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
Avg IV 42.8% vs VIX 18.6, high relative premium
Favorable?
Yes

Term structure: Front-end puts inflated (2d put IV 126.7), term structure mixed

⚠️Put skew extreme; elevated probability of large moves

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-76.7M)

Gamma flip: ~$25.00 — Approx — based on put OI concentration of 88,001 (22.7% below spot)

OI concentrations: Max pain pins at $34 (Jun26, Jul2) and $36 (Jun30); put OI concentrated 22.7% below spot

Verdict: Near-term pin risk at $34, but bearish momentum may override

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $31.00/$30.00 put spread
Sells OTM put spread to capture elevated put skew and defensive positioning.
Credit: $0.12-$0.15
Max loss: $0.85
BE: $30.85
Mgmt: Close if spot breaches $31 or IV collapses. Liquidity warning: Liquidity constraints: short_put: Wide spread (161%).
#2
Iron condor
Sell 2026-07-17 $31.00/$29.00 put wing and $34.00/$36.00 call wing
Collects premium from elevated IV with defined risk at support and resistance.
Credit: $0.26-$0.31
Max loss: $1.69
BE: 30.69 / 34.31
Mgmt: Adjust if spot approaches wings; close early on IV contraction. Liquidity warning: Liquidity constraints: short_put: Wide spread (161%).; long_put: Wide spread (162%).; short_call: Wide spread (79%).; long_call: Wide spread (125%).
#3
Call credit spread
Sell 2026-07-17 $34.00/$36.00 call spread
Sells OTM call spread to profit from resistance at $34.
Credit: $0.12-$0.15
Max loss: $1.85
BE: $34.15
Mgmt: Monitor for breakout above $34; close if invalidated. Liquidity warning: Liquidity constraints: short_call: Wide spread (79%).; long_call: Wide spread (125%).

Risk Alerts

!Negative dealer gamma ($-76.7M) exacerbates spot moves
!Put/call volume ratio 2.97 indicates defensive positioning
How to Use These Reports
This theta reflects the market close on June 24, 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.