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META

Meta Platforms, Inc.Close $607.38EOD only
Max Pain
$605.00
Next expiry May 22, 2026
Expected Move
±$8.30
1.4% from close
Price Gap
-2.38
Distance to max pain
IV Rank
35
Middle-high premium
P/C OI
0.45
Slightly call-heavy
Consensus
9.0/10
Bullish tilt
Published snapshot: May 21, 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
May 21, 2026 close
META Theta Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Short put spreads
Invalidation: Break below $605 support or gamma flip
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.4% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 49.5% vs VIX 16.8: elevated IV.
Favorable?
Yes

Term structure: Near-term dip then rise; short-dated inversion due to expiry.

📈Avg IV 49.5% well above VIX 16.8 – rich premiums.
📌Max pain $605 pinned across 3 expirations.
🟢Dealer GEX +$77.4M net long gamma supports pinning.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+77.4M)

Gamma flip: ~$500.00 — Approx — based on put OI concentration of 15,217 (17.7% below spot)

OI concentrations: Put floor $500-$500; Call wall $700-$900; Gamma flip $500.

Verdict: Elevated pin risk: max pain $605, dealer long gamma, near 20% put OI at $500.

Premium Opportunities

#1
Put credit spread
Sell 2026-06-12 $580.00/$565.00 put spread
Sells premium on bullish-neutral bias using 580/565 put spread.
Credit: $2.81-$3.44
Max loss: $11.56
BE: $576.56
Mgmt: Close at 50% max gain or if META breaks below $605 support.
#2
Iron condor
Sell 2026-06-12 $590.00/$565.00 put wing and $635.00/$665.00 call wing
Wide iron condor around max pain $605, both sides profitable if range holds.
Credit: $9.81-$11.98
Max loss: $18.02
BE: 578.02 / 646.98
Mgmt: Manage near expiration; adjust wings if price approaches $590 or $635.
#3
Call credit spread
Sell 2026-06-12 $630.00/$650.00 call spread
Sells call spread at $630/$650 to collect time decay.
Credit: $3.98-$4.87
Max loss: $15.13
BE: $634.87
Mgmt: Close at 50% max gain or if META breaks above $636.

Risk Alerts

!Put OI concentration at $500 may attract price if spot declines.
!Gamma flip at $500 implies rapid hedging below that level.
How to Use These Reports
This theta reflects the market close on May 21, 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.