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HOOD

Robinhood Markets, Inc.Close $90.73EOD only

Max Pain

$80.00

Next expiry Jun 5, 2026

Expected Move

±$6.27

6.9% from close

Price Gap

-10.73

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.65

Slightly call-heavy

Consensus

6.0/10

Bullish tilt

Published snapshot: Jun 1, 2026 close

End-of-day snapshot

This page reflects HOOD options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 1, 2026 close

HOOD Theta Report

Analysis based on market close April 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 17, 2026. A newer theta report is available for May 22, 2026.

View latest report

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 21.0% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

ATM IV > VIX (17); avg IV ~77 vs longer‑term mid‑60s

Favorable?

Yes

Term structure: Extreme front‑week/skew (0–14d) then rolls down into 60s; puts bid vs calls

⚠️Short‑dated IV explosion vs multi‑week mean — premiums rich but risky

📌Max‑pain clustering at $75/$78 into expiries — high pin potential

💥Assignment/margin and tail‑gap risk for sellers around expiries — prefer defined‑risk structures

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+149.0M)

Gamma flip: ~$65.00 — Approx — based on put OI concentration of 15,798 (28.4% below spot)

OI concentrations: Put OI concentrated ~15,798 (≈28% strikes below spot); clustered strikes at $75–78

Verdict: Elevated pin risk — concentrated put wall and dealer positioning (GEX net long delta) raise probability of spot gravitating to $75–78 into expiries; increases assignment and rollover pressure

Premium Opportunities

Put credit spread

Sell 2026-05-15 $80.00/$75.00 put spread

Sell 80/75 put spread into elevated downside skew: receive $1.20 credit, max loss $3.80, PoP ~78%, expected roll/close threshold if spot <79.90 or realized vol <30% (IV collapse) reducing edge.

Credit: $0.99-$1.22

Max loss: $3.78

BE: $78.78

Mgmt: Close/roll if spot <79.90, IV percentile drops below 40% (eroding premium), or MTM loss >50% of max loss; consider buying back and re-selling wider wing if skew steepens.

Iron condor

Sell 2026-05-15 $80.00/$75.00 put wing and $115.00/$120.00 call wing

Sell 80/75 put and 115/120 call wings to collect two-sided theta with long wings as protection; better tail protection than single-side spread but collects ~12% less immediate credit than s1.

Credit: $1.34-$1.63

Max loss: $3.37

BE: 78.37 / 116.63

Mgmt: Trim/hedge side that reaches 50% of width, close if spot <79.5 or >114.5, or if IV on untested side rises >15 pts; prefer this if directional bias is neutral.

Risk Alerts

!Large put OI concentration below spot (pinning/assignment risk)

!Severe short‑dated IV skew; gap risk can spike realized losses for naked sellers

!Avoid naked short premium; favor defined‑risk spreads and monitor margin/exercise notices

!Invalidation if spot breaches gamma flip (~$65), IV collapses, or GEX/flow reverses

How to Use These Reports

This theta reflects the market close on April 17, 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.