Term structure: Upward sloping from 0 DTE (23%) to out months (65%); 0 DTE call IV 97% vs put 66% – extreme skew
Spot vs MP: Below
GEX regime: Trending ($-25.7M)
Gamma flip: ~$70.00 — Approx — based on put OI concentration of 17,370 (4.9% below spot)
OI concentrations: Call OI wall $79-$100, put floor $55-$55; max pain $77 (weekly)
#1Put credit spread
Sell 2026-06-18 $70.00/$65.00 put spread
Sells the $70/$65 put spread to capture elevated volatility premium while downside protected by high open interest support.
Mgmt: Manage if HOOD drops below $72; consider rolling or closing at 50% of max gain.
#2Iron condor
Sell 2026-06-12 $70.00/$65.00 put wing and $80.00/$83.00 call wing
Sells $70/$65 put wing and $80/$83 call wing to profit from neutral price action with high IV.
Mgmt: Monitor delta; adjust wings if price approaches $72 or $78; close at 50% max gain.
!High IV vs VIX (70% vs 17) – volatility risk premium elevated
!0 DTE call skew extreme – potential for gamma squeeze
!Spot below max pain $77 – pin risk if price drifts to expiry