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NOK

Nokia Corporation SponsoredClose $14.38EOD only

Max Pain

$16.00

Next expiry Jun 12, 2026

Expected Move

±$1.44

10.0% from close

Price Gap

+1.62

Distance to max pain

IV Rank

High premium

P/C OI

0.32

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: Jun 5, 2026 close

End-of-day snapshot

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

Published Snapshot

Jun 5, 2026 close

NOK Directional Report

Analysis based on market close June 8, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

NOK is poised for a rally toward $15-$16 driven by bullish flow and positive dealer gamma pinning, despite high vol and spot below MP. Key support at $14, resistance at $15.5 and $16.7.

Confidence:

7.5 / 10

Base 5; strong GEX/flow alignment (+2), positive gamma pinning (+1), proximity to gamma flip (-1), VIX 19 supportive (+0.5).

Supports: Bullish flow, positive dealer gamma, VIX stable.
Conflicts: Spot below MP, high vol, gamma flip risk at $14.

🔴High Vol: IV rich vs VIX; event premium priced in.

🟢Bullish Flow: Net positive premium; puts cheap.

🟡Gamma Pin: Positive $158M GEX; pinning near $14-$16.

🔵$14 Flip: Key level; break below triggers dealer hedging.

Regime Classification

Vol Regime

High

IV elevated (High) versus typical range; VIX 19 provides macro context but ticker-specific vol higher.

Gamma Regime

Pinning

Positive dealer gamma $158M near $14-$16; pinning effect with flip at $14.

Flow Regime

Bullish

Bullish flow; net premium positive, put/call ratio low.

Spot vs Max Pain

Below

Spot 5.9% below MP; dealer gamma and max pain suggest reversion to $15-$16.

Thesis duration: Multi-week — Multiple expiry cycles (Jun12, Jun18, Jun26) with dealer gamma concentration; price ranges extend 2 weeks.

Price Range Forecast

Next 1 week

$12.99$16.20

Dealer gamma supports rally to MP $15-$16; risk of gamma flip at $14.

Next 2 weeks

$12.48$16.70

Wider range with multiple expiry pins; $14-$16 key zone.

Key Levels

Max pain pins: $16 (2026-06-12); $14 (2026-06-18); $15 (2026-06-26)

EM guardrails: 1w $12.99/$16.20

Support: $14.00 · $12.48

Resistance: $15.00 · $15.50 · $16.70

Gamma flip: ~$14.00 — Approx — based on put OI concentration of 54,781 (4.0% below spot)

Structural: Support $14, $12.48; Resistance $15, $15.5, $16.7; Gamma flip at $14; Max pain pins: $16 (Jun12), $14 (Jun18), $15 (Jun26).

Dealer Positioning (GEX/DEX)

GEX: $+158.0M

DEX: +143.7M shares

Gamma flip: ~$14 (Approx — based on put OI concentration of 54,781 (4.0% below spot))

NTM gamma: Dealer gamma +$158M, DEX +143.7M shares; gamma flip at ~$14; positive gamma provides pinning near $14-$16 zone.

IV Analysis

IV vs VIX: Ticker IV rich vs VIX 19; implied vol elevated suggesting event premium.

Term structure: Likely backwardation due to near-term expiration; check skew.

Skew: Put skew elevated, but positive dealer gamma may cap downside; consider call spreads.

Flow Analysis

Net premium: Net premium strongly positive ($40.7M) with put/call volume ratio at 0.12, reflecting heavy call buying.

Directional prints: 85.2 call 15 OTM 2026-06-12 — Vol/OI 4.2; aggressive call buying likely bought-to-open for upside exposure. 88.3 call 16 OTM 2026-06-12 — Vol/OI 3.2; similar call buying, targeting further upside. 98.4 call 17.5 OTM 2026-06-12 — Vol/OI 2.7; deep OTM call buying, speculative upside bet.

Unusual: 82.9 put 18 ITM 2026-07-17 — Vol/OI 2.9; ITM put buying amid heavy call flow, possible hedge or bearish bet. 107.6 call 34 OTM 2026-09-18 — Vol/OI 1.6; extremely OTM call, high IV, unusual long-dated bullish speculation. 95.4 call 31 OTM 2027-01-15 — Vol/OI 1.6; similar extreme OTM call, indicating far out-of-money buying.

Risks & Catalysts

!Failure to hold $14 support leads to gamma flip and move to $12.48.

!Earnings or corporate event risk not captured.

!Broader market selloff could override dealer gamma.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-08-21 $15.00/$16.00 call spread Why now: Bullish bias with defined risk; positive flow and strong net premium support upside.	Max loss = debit paid; stock fails to rally above $15.
Put credit spread	Moderate	Sell 2026-08-21 $14.00/$13.00 put spread Why now: Bullish-neutral defined-risk premium sale; high put/call ratio indicates call dominance.	Max loss = strike difference minus credit; stock breaks below $14.

Top Plays

Bull Call Spread

Buy 2026-08-21 $15.00/$16.00 call spread

Buy $15/$16 call spread for upside exposure to $15-16 target.

Why this play: Directly expresses bullish bias with defined risk; flow confirms aggressive call buying.

Debit: $0.30-$0.36

Max loss: $0.36

BE: $15.36

Mgmt: Exit if spot breaks below $14 support.

Traders seeking leveraged bullish exposure with capped risk.

Put Credit Spread

Sell 2026-08-21 $14.00/$13.00 put spread

Sell $14/$13 put spread to collect premium while supporting key support.

Why this play: Premium collection with bullish-neutral view; lower risk but limited upside.

Credit: $0.46-$0.57

Max loss: $0.43

BE: $13.43

Mgmt: Roll or close if spot approaches $14.

Traders preferring defined risk income strategies.

Watchlist Triggers

Entry Triggers

IFSpot holds above $14 and trades below $15 → Buy 2026-08-21 $15/$16 call spread at $0.30-$0.36

IFSpot stays above $14.2 → Sell 2026-08-21 $14/$13 put spread at $0.46-$0.57

Exit Triggers

EXITSpot breaks below $14 → Close both spreads

Tactical Summary

NOK bullish bias targeting $15-$16. Enter bull call spread or put credit spread with invalidation at $14.

How to Use These Reports

This directional reflects the market close on June 8, 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.