thetaOwl

INTU

Intuit Inc.Close $399.71EOD only
Max Pain
$395.00
Next expiry May 22, 2026
Expected Move
±$36.35
9.1% from close
Price Gap
-4.71
Distance to max pain
IV Rank
26
Middle-high premium
P/C OI
0.82
Slightly call-heavy
Consensus
4/4
Partial coverage
Published snapshot: May 19, 2026 close
End-of-day snapshot

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

Published Snapshot
May 19, 2026 close
INTU Theta Report
Analysis based on market close March 31, 2026

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

Theta Verdict

Attractiveness8 / 10
Sizing: Small
Primary: Sell cash-secured puts or put spreads near OI support levels.
Invalidation: Close below $415 (next max pain level).
Confidence:
4 / 10
base 3; +1 high IV; +1 pinning regime; -1 low liquidity chain

IV Environment

IV Regime
High
IV vs VIX
IV 54.6% — Extremely elevated for a large-cap stock.
Favorable?
Yes

Term structure: Term structure is elevated and relatively flat from 2 DTE to 45 DTE (48.5% - 50.5%).

💰IV >50% provides excellent premium for sellers.
⚠️High IV implies elevated risk; use defined-risk strategies.

Pin Risk Assessment

Spot vs MP: Spot $432.38 is just below max pain $435 (0.6% distance).

GEX regime: Pinning (GEX +$4.6M — mean-reverting)

OI concentrations: Call walls at $490, $530, $480. Put OI is less concentrated but shows support near $370.

Verdict: Favorable — Spot near max pain with positive GEX creates a strong pinning environment for credit positions.

Premium Opportunities

#1
cash-secured put
Sell $415 Put exp 2026-04-10 (10 DTE)
High IV provides rich premium. Strike is below current spot and aligns with the 4/10 max pain of $430, offering a 4.0% buffer. Defined risk via cash securing.
Credit: $2.50-$3.50
Max loss: $411.50
BE: $411.50
Mgmt: Close at 65% profit. Roll down/out if price breaches $425. Accept assignment below $411.50 if comfortable owning at that cost basis. Note: Assumes a wide bid-ask (~$1.00).
#2
put spread
Sell $415 / Buy $410 Put Spread exp 2026-04-10 (10 DTE)
Defined-risk alternative to CSP. Collects premium in high IV environment while capping max loss. Strike is below near-term max pain levels.
Credit: $0.80-$1.20
Max loss: $4.20
BE: $414.20
Mgmt: Close at 50% profit. Exit if price closes below $420. Note: Assumes a wide bid-ask (~$0.40).
#3
covered call
Sell $445 Call exp 2026-04-17 (17 DTE) against 100 shares.
For existing shareholders. High IV yields significant call premium. Strike is above spot and the 4/17 max pain ($425), providing a 2.9% upside before assignment.
Credit: $5.00-$7.00
Max loss: Unlimited above $445
BE: N/A (covered)
Mgmt: Close at 50% profit. Roll up/out if price approaches $440. Be prepared for assignment above $445.
#4
iron condor
Sell $415/$410 Put Spread & $450/$455 Call Spread exp 2026-04-17 (17 DTE)
Illustrative only, given low liquidity. Attempts to capitalize on high IV and pinning between $425 max pain and OI call walls. Wide wings provide a 4.1% buffer on each side.
Credit: $1.50-$2.00
Max loss: $3.50
BE: 413.50 / 451.50
Mgmt: Close at 50% profit. Exit entire position if price breaches $420 or $445. Note: Execution risk is high; bid-ask spreads likely exceed $0.50 per leg.

Risk Alerts

!Earnings on 2026-05-21 (approx 7 weeks out). Close or roll all short premium positions at least 1 week prior to avoid earnings IV crush and gamma risk.
!Low liquidity chain (115k OI). Wide bid-ask spreads will erode profitability; use limit orders and be patient.
!Net premium flow is bearish (-$61.3M) with high P/C volume ratio (1.89), indicating institutional put buying pressure.
!Unusual put activity in deep OTM strikes ($280 & $310 for May) suggests tail-risk hedging, a sign of underlying volatility concerns.
!Max pain trend is falling ($435 → $430), which could indicate a gradual downward bias in dealer positioning.
!Expected move for 10 DTE is ±6.0% ($26.15). Ensure short strikes are outside this range for defined-risk spreads.
How to Use These Reports
This theta reflects the market close on March 31, 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.