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NOK

Nokia Corporation SponsoredClose $13.98EOD only

Max Pain

$14.00

Next expiry Jun 18, 2026

Expected Move

±$0.76

5.4% from close

Price Gap

+0.02

Distance to max pain

IV Rank

High premium

P/C OI

0.33

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 16, 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 16, 2026 close

NOK Directional Report

Analysis based on market close June 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias with pinning at $14 due to strong dealer gamma and bullish flow. Spot below max pain, likely drift up into expiry.

Confidence:

9 / 10

Base 5 +2 GEX/flow aligned +1 GEX positive +0.5 near MP +0.5 VIX 18 = 9

Supports: Bullish flow, $111.8M positive GEX, spot 1.2% below $14 MP
Conflicts: High vol regime, potential gap fill

🟢Bullish flow + $111.8M GEX pinning at $14

💡Spot 1.2% below MP, likely drift up

⚠️High vol regime may increase volatility

Regime Classification

Vol Regime

High

High vol regime driven by event proximity and market decline (SPY -1.25%)

Gamma Regime

Pinning

Positive gamma ($111.8M) with pinning at $14 for multiple expiries

Flow Regime

Bullish

Bullish net premium flow, puts cheap relative to calls

Spot vs Max Pain

Below

Spot below $14 MP by 1.2%, typical drift upward into expiry

Thesis duration: Event-specific — Expiry on 2026-06-18 (next day) and further expiries, near-term pinning action

Price Range Forecast

Next 2 days

$13.32$14.34

Drift to $14 pin, resistance at $14.34

Next 1 week

$12.59$15.07

Break above $14 if vol subsides, support $12.59

Next 2 weeks

$12.17$15.49

Range-bound $12.17-$15.49, direction unclear

Key Levels

Max pain pins: $14 (2026-06-18); $14 (2026-06-26); $14 (2026-07-02)

EM guardrails: 2d $13.32/$14.34; 1w $12.59/$15.07

Support: $12.17

Resistance: $14.00 · $15.00 · $15.49

Structural: Max pain pins at $14 for 3 expiries; support $12.17; resistance $14, $15, $15.49; EM guardrails 2d $13.32/$14.34

Dealer Positioning (GEX/DEX)

GEX: $+111.8M

DEX: +142.8M shares

Gamma flip: N/A

NTM gamma: NTM gamma positive $111.8M, long gamma dealers positioned to pin spot near $14; DEX +142.8M shares bullish.

IV Analysis

IV vs VIX: IV elevated relative to VIX (18.44) due to high vol regime and event risk

Term structure: Term structure backwardated near-term due to expiry, flattening further out

Skew: Put skew elevated, but calls not excessive; potential for vol crush post-expiry

Flow Analysis

Net premium: Net call buying $9.2M, put/call vol 0.35, bullish.

Directional prints: 71.5 call 13.5 ITM 2026-07-02 — Vol/OI 5.8, aggressive call buying; likely bought (bullish). 97.7 call 34 OTM 2026-10-16 — Vol/OI 3.4, far OTM call; likely bought. 98.6 call 25 OTM 2026-08-21 — Vol/OI 2.0, moderate call buying; likely bought.

Unusual: 193.8 put 18 ITM 2026-06-18 — Vol/OI 1.5, IV 193.8% near expiry; likely bought tail hedge. 246.9 put 17 ITM 2026-06-18 — Vol/OI 1.5, IV 246.9%; likely bought put. 137.5 put 16.5 ITM 2026-06-18 — Vol/OI 1.5, IV 137.5%; likely bought hedge.

Risks & Catalysts

!Failure to hold $13.32 support

!Vix spike above 20

!Gap fill below $12.17

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-07-24 $14.50/$18.50 call spread Why now: Defined risk upside capture with earnings catalyst.	Max loss if stock stays below long strike before expiry. Liquidity constraints: short_call: Wide spread (105%).
Put credit spread	Moderate-Strong	Sell 2026-07-24 $12.00/$11.00 put spread Why now: Collect premium with defined risk, benefits from pinning.	Loss if stock breaks below short put strike.
Bullish risk reversal	Moderate	Buy 2026-07-24 $14.50 call / sell 2026-07-24 $12.00 put Why now: Cheap way to express bullish view with defined risk on upside.	Short put exposes to downside if support breaks.

Top Plays

Put Credit Spread

Sell 2026-07-24 $12.00/$11.00 put spread

Collect premium with defined risk at $12 support

Why this play: Lowest risk, supports pinning thesis

Credit: $0.26-$0.32

Max loss: $0.68

BE: $11.68

Mgmt: Close at 50% profit or if $12.17 breaks

Conservative income seekers

Bull Call Spread

Buy 2026-07-24 $14.50/$18.50 call spread

Buy call spread to profit from drift to $18.50

Why this play: Upside capture despite low liquidity

Debit: $0.53-$0.64

Max loss: $0.64

BE: $15.14

Mgmt: Exit early if liquidity improves Liquidity warning: Liquidity constraints: short_call: Wide spread (105%).

Moderate risk tolerance

Bullish Risk Reversal

Buy 2026-07-24 $14.50 call / sell 2026-07-24 $12.00 put

Synthetic long via call/put combination

Why this play: Cheap upside with unlimited potential

Debit: $0.57-$0.69

Max loss: $12.00

BE: $12.00

Mgmt: Monitor closely; close if $12.17 invalidates

Aggressive traders

Watchlist Triggers

Entry Triggers

IFPrice holds above $12.17 support → Sell 2026-07-24 $12/$11 put credit spread for $0.26-$0.32 credit

IFPrice holds above $12.17 support → Buy 2026-07-24 $14.50 call / sell $12 put (risk reversal) for $0.57-$0.69 debit

Exit Triggers

EXITPrice breaks below $12.17 → Close all positions

Tactical Summary

NOK bullish bias with pinning at $14. Support at $12.17. Favor put credit spread (sell $12/$11) or bullish risk reversal (buy $14.50 call/sell $12 put). Exit all if $12.17 breaks.

How to Use These Reports

This directional reflects the market close on June 17, 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.