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META

Meta Platforms, Inc.Close $597.63EOD only

Max Pain

$610.00

Next expiry Jun 3, 2026

Expected Move

±$10.52

1.8% from close

Price Gap

+12.37

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.44

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jun 2, 2026 close

End-of-day snapshot

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

Published Snapshot

Jun 2, 2026 close

META Theta Report

Analysis based on market close April 15, 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 15, 2026. A newer theta report is available for May 26, 2026.

View latest report

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.1% from MP; +0.5 VIX 18

IV Environment

IV Regime

Normal

IV vs VIX

Near-term ATM IVs: 2026-04-17 ATM 31.3% / 2026-04-24 ATM 32.7% — longer-dated ATM (2026-05-01) 50.2%. VIX = 18.17. Implied vol is elevated relative to market (VIX) and term structure shows a steep jump into the May 1 monthly.

Favorable?

Yes

Term structure: Front-week IV ~31–33% while the 16d monthly is 50.2% — steep front-to-mid curve; mid-dated vols are rich relative to front week.

💰Elevated mid-term IV (50.2% at 2026-05-01) provides healthy theta for 30–60 DTE sells

⚖️Front-week IV ~31% is lower than monthly — consider selling into the richer May 1 expirations rather than ultra-weeklies for better edge

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+277.2M)

Gamma flip: ~$500.00 — Approx — based on put OI concentration of 15,159 (25.5% below spot)

OI concentrations: Near-term GEX magnets at $672.50 (+$27.5M), $670.00 (+$26.7M), $660.00 (+$12.1M). Max pain nearby: $645.00 (4/15), $605.00 (4/17), $625.00 (4/20). Large call OI walls at $700/$750 and put floor concentration around $500-$600.

Verdict: Favorable — strong positive GEX (+$277.2M) and tight near-spot GEX concentration (670–672.5) create pinning that supports defined-risk put-selling and reduces tail gamma for credit positions

Premium Opportunities

Put credit spread

Sell 2026-05-15 $625.00/$575.00 put spread

Sell 25–30 delta short put and buy a protective lower put (30–45 DTE) to collect high mid-term premium while keeping defined downside; manages pin bias and falling max pain trend.

Credit: $8.08-$9.87

Max loss: $40.13

BE: $615.13

Mgmt: Close at 50–65% of max profit or roll wider/up if price approaches $645 support; cut below $645.

Cash-secured put

Sell 2026-05-22 $610.00 cash-secured put

Sell puts ~20–25 delta with 30–60 DTE to get paid to set an entry price near dealer support; capital-backed approach reduces assignment surprise.

Credit: $10.87-$13.28

Max loss: $596.72

BE: $596.72

Mgmt: Assign or roll if price drifts below $645; reduce size if GEX or flow reverses.

Risk Alerts

!Upcoming earnings 2026-04-29 (14d): avoid selling naked premium through earnings — prefer defined risk or avoid new short-dated naked positions into release.

!Very near-term expirations (2026-04-17 / 2d and 2026-04-24 / 9d) show concentrated unusual activity and heavy GEX at 670–672.5 — short-weeklies can face pin risk and rapid gamma; prefer 16–45 DTE unless specifically trading the pin.

!Positive large GEX (+$277.2M) creates pinning but can flip into abrupt directional if dealer hedging unwinds — a break below $645 could accelerate downside.

!Large call OI walls at $700/$750 create asymmetric upside supply; strong upside gaps toward those walls can spike short-call losses — manage call exposure proactively.

!Unusual activity in very near expirations (multiple high OI calls and puts around $672.50–$677.50 on 2026-04-15) increases execution and assignment risk for same-day/next-day sellers.

How to Use These Reports

This theta reflects the market close on April 15, 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.