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META

Meta Platforms, Inc.Close $676.87EOD only
Max Pain
$610.00
Next expiry Apr 17, 2026
Expected Move
±$4.42
0.7% from close
Price Gap
-66.87
Distance to max pain
IV Rank
100
High premium
P/C OI
0.48
Slightly call-heavy
Consensus
6.5/10
Consensus signal
Published snapshot: Apr 16, 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
Apr 16, 2026 close
META Theta Report
Analysis based on market close April 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Sell premium in 21–45 DTE: put-credit spreads (30–40 delta) or iron‑condors with 10–15 delta wings; keep position size moderate, hedge with 10–15 delta long wings or weekly long-gamma if IV front-week spikes
Invalidation: Sustained close below $635, VIX>25, rapid dealer de-gross or IV spike >+40% that makes short prem materially loss-making
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 12.0% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
Avg IV (~53%) > VIX 17; front-week ATM near-zero is an expiry artifact making 0–5d selling hazardous
Favorable?
Yes

Term structure: Avoid front-week expiries; favor 21–45d where ATM IV elevated (20–48%) and risk/reward supports premium selling; long-dated asymmetries present but ticket-size smaller

⚠️Avoid 0–5d selling — expiry artifacts compress IV and raise tail risk
📈21–45d premium selling appears attractive vs elevated mid-term IV
⚖️Use defined-risk spreads with 10–15 delta wings and small long-gamma hedge

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+297.7M)

Gamma flip: ~$500.00 — Approx — based on put OI concentration of 15,104 (27.4% below spot)

OI concentrations: Max-pain clusters at $615/$640/$645; put OI concentrated ~15,104 contracts (~27% below spot) and call wall >$750

Verdict: High pin risk $615–645; sticky pin likely unless spot decisively moves through clusters or dealers reduce GEX

Premium Opportunities

#1
Put credit spread
Sell 2026-05-15 $655.00/$600.00 put spread
Sell 5/15 655/600 put spread to collect rich mid‑DTE premium with defined risk.
Credit: $10.33-$12.62
Max loss: $42.38
BE: $642.38
Mgmt: Trim or buy long puts if price closes <635 or IV jumps >30%; size moderate.
#2
Iron condor
Sell 2026-05-22 $625.00/$560.00 put wing and $770.00/$850.00 call wing
Sell 5/22 625/560 put and 770/850 call wings to collect both sides of rich IV.
Credit: $13.10-$16.02
Max loss: $63.98
BE: 608.98 / 786.02
Mgmt: Hedge with 10–15Δ long wings or cut if dealers de‑gross, VIX>20, or spot nears wings. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Open interest below 25.

Risk Alerts

!Do not sell front-week expiries due to compressed IV and squeeze risk
!Monitor dealer GEX and sudden IV spikes — unwind or hedge if VIX>20 or IV jumps >30%
!Watch $635 support and $700+ resistance for flow shifts that invalidate selling thesis

Read the Theta analysis for META for 2026-04-17. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.