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META

Meta Platforms, Inc.Close $728.08EOD only
Max Pain
$722.50
Next expiry Oct 5, 2026
Expected Move
±$11.48
1.6% from close
Price Gap
-5.58
Distance to max pain
IV Rank
1
Low premium
P/C OI
0.46
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Oct 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
Oct 2, 2026 close
META Theta Report
Analysis based on market close May 19, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 19, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Short Call Spread
Invalidation: Spot closes outside $605-$610
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.8% from MP; +0.5 VIX 18

IV Environment

IV Regime
Normal
IV vs VIX
IV (48%) far above VIX (18%) indicating rich premiums
Favorable?
Yes

Term structure: Near-term IV irregular; 1d low (23%) vs 3d spike (31%) suggests event risk

📈IV 48% vs VIX 18% offers rich premium opportunity
📍Max pain pins at $608-$610 for near-expiry

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+54.1M)

Gamma flip: ~$500.00 — Approx — based on put OI concentration of 15,255 (17.0% below spot)

OI concentrations: Call OI wall $700-$900; put floor $500; put OI 15,255 below spot (17% below)

Verdict: High pin risk near $608 due to max pain and dealer gamma

Premium Opportunities

#1
Iron condor
Sell 2026-06-18 $580.00/$550.00 put wing and $640.00/$670.00 call wing
Rich premiums and pin support at $608 make iron condor attractive with defined risk.
Credit: $10.55-$12.90
Max loss: $17.10
BE: 567.10 / 652.90
Mgmt: Pin risk if spot breaks wings; IV contraction reduces credit.

Risk Alerts

!Gamma flip at $500 far from spot, but put OI concentration may support
!Near-term IV spike suggests event risk (earnings/data?)
How to Use These Reports
This theta reflects the market close on May 19, 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.