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HOOD

Robinhood Markets, Inc.Close $95.77EOD only
Max Pain
$93.00
Next expiry Aug 21, 2026
Expected Move
±$3.90
4.1% from close
Price Gap
-2.77
Distance to max pain
IV Rank
24
Low premium
P/C OI
0.77
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Aug 19, 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
Aug 19, 2026 close
HOOD Theta Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 21, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Vertical credit spreads
Invalidation: Break below $70 or above $80
Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.4% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV at 68.5% vs VIX 16.8; rich for selling
Favorable?
Yes

Term structure: Contango from 1d to back, slight dip at 36d

📈IV well above VIX, elevated premium
⚠️High vol regime, but pinning support near
📊Term structure contango, typical

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+28.1M)

Gamma flip: ~$70.00 — Approx — based on put OI concentration of 17,367 (7.8% below spot)

OI concentrations: Put OI floor at $70 (17.4K); call wall at $80-$100

Verdict: Spot $75.25 below max pain $77; gamma pinning may pull spot higher near term

Premium Opportunities

#1
Put credit spread
Sell 2026-06-26 $69.00/$65.00 put spread
Sell put spread to collect premium expecting spot above $70.
Credit: $0.93-$1.13
Max loss: $2.87
BE: $67.87
Mgmt: Exit if spot breaks below $70.
#2
Short strangle
Sell 2026-06-26 $66.00 put + sell $90.00 call
Sell OTM put and call to collect premium from high IV.
Credit: $2.88-$3.53
Max loss: Unlimited
BE: 62.47 / 93.53
Mgmt: Monitor gamma risk; adjust if spot tests wings.
#3
Call credit spread
Sell 2026-06-26 $85.00/$90.00 call spread
Sell call spread to collect premium expecting resistance at $80.
Credit: $0.81-$0.98
Max loss: $4.02
BE: $85.98
Mgmt: Close if spot breaks above $77.

Risk Alerts

!Near-term max pain at $77 for 0DTE
!Gamma flip level at $70 with heavy put OI
!IV high, but spot below MP; pin risk elevated
How to Use These Reports
This theta reflects the market close on May 21, 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.