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NOK

Nokia Corporation SponsoredClose $13.49EOD only

Max Pain

$14.00

Next expiry Jun 26, 2026

Expected Move

±$1.05

7.8% from close

Price Gap

+0.51

Distance to max pain

IV Rank

100

High premium

P/C OI

0.32

Slightly call-heavy

Consensus

6.0/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

NOK Directional Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

NOK pinned at $14 max pain with bullish flow and negative dealer gamma. Bias slightly bullish toward $14.5 resistance; high vol and event expiry cap near-term.

Confidence:

6 / 10

Base 5, -1 GEX negative contradicts bullish flow, +1 spot near MP, +1 low VIX 16.4. Net 6/10.

Supports: Bullish flow, spot at max pain, low VIX, positive dealer delta.
Conflicts: High vol, negative gamma (two-way risk), multiple resistance levels.

📌Spot pinned at $14 max pain; dealers hedged for expiry.

📈Bullish flow and long dealer delta support upside.

⚠️Negative gamma amplifies moves; high vol risks.

Regime Classification

Vol Regime

High

IV elevated (>65th pctile) with VIX 16.4; options rich for sellers.

Gamma Regime

Trending

Negative gamma ($-183M) accelerates moves; trending gamma reinforces momentum.

Flow Regime

Bullish

Bullish net premium with call-side activity; P/C leans bullish.

Spot vs Max Pain

Spot at $14 max pain; tight pin, dealers hedged.

Thesis duration: Event-specific — Multiple OI concentrations at $14 pin; vol high suggests event-driven positioning ahead of Jun/Jul expiries.

Price Range Forecast

Next 1 week

$12.44$14.54

Breakout above $14.5 confirms upside.

Next 2 weeks

$12.05$14.92

Holding key support at $12.05.

Key Levels

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

EM guardrails: 1w $12.44/$14.54

Support: $12.05

Resistance: $13.50 · $14.00 · $14.92

Structural: Support $12.05, resistance $13.5/$14.0/$14.92. Max pain $14 pin. EM guardrails 1w 12.44-14.54.

Dealer Positioning (GEX/DEX)

GEX: $-183.4M

DEX: +140.3M shares

Gamma flip: N/A

NTM gamma: Dealers short gamma ($-183M) long delta (+140M shares); amplifying volatility with bullish delta bias.

IV Analysis

IV vs VIX: Ticker IV elevated vs VIX; implied vol rich favoring premium selling.

Term structure: Contango expected; near-term vol higher due to event risk.

Skew: Skew flat; put skew elevated from dealer gamma hedging; opportunity in call spreads if bullish.

Flow Analysis

Net premium: Net call premium of $12.5M, P/C vol ratio 0.42, indicating strong bullish flow.

Directional prints: 12.5 call 13.5 OTM 2026-06-18 — Vol 14947 vs OI 3201 (4.7x), low IV. Likely aggressive call buying despite cheap premium. Preferred read: bullish. 65.4 call 14 OTM 2026-06-26 — Vol 16494 vs OI 9208 (1.8x), moderate. Likely bought calls for upside exposure. Preferred read: bullish.

Unusual: 284.4 put 16.5 ITM 2026-06-18 — Vol/OI 75.9x, extreme. Likely bought puts for downside hedge or speculation. Bearish but net flow bullish. 67.6 put 12 OTM 2026-07-02 — Vol/OI 8.3x, high. OTM put buying. Could be protective or bearish, but low premium. 82 call 17.5 OTM 2026-07-31 — Vol/OI 5.8x, OTM call. Likely bullish speculation at high strike.

Risks & Catalysts

!Break below $12.05 support

!Vol spike or gamma flip

!Event-driven volatility

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-07-24 $14.00/$15.50 call spread Why now: Heavy call flow, P/C vol ratio 0.42. Spread caps cost.	Max loss net debit; break below $12 support hurts.
Long call	Moderate	Buy 2026-07-24 $14.00 call Why now: $12.5M net call premium; aggressive buying at 13.5 strike.	Time decay & IV contraction post-earnings.
Put credit spread	Moderate	Sell 2026-07-24 $12.00/$11.00 put spread Why now: Support at $12.05; high IV boosts credit.	Break below $12; gamma near expiration.

Top Plays

Bull Call Spread

Buy 2026-07-24 $14.00/$15.50 call spread

Buy $14/$15.50 call spread to express bullish view with defined risk.

Why this play: Best fits bullish bias with capped risk; heavy call flow supports.

Debit: $0.45-$0.56

Max loss: $0.56

BE: $14.56

Mgmt: Exit if stock breaks $12.05 or near expiry.

Event-driven traders seeking upside with limited cost.

Long Call

Buy 2026-07-24 $14.00 call

Buy $14 call to profit from upside move, unlimited potential.

Why this play: Direct bullish bet leveraging aggressive call flow; higher return.

Debit: $1.13-$1.38

Max loss: $1.38

BE: $15.38

Mgmt: Set stop at $12.05; consider taking profits at $15.50.

Aggressive traders confident in upside past $14.

Put Credit Spread

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

Sell $12/$11 put spread to collect credit with support at $12.05.

Why this play: Defensive bullish play; earns premium if stock stays above $12.

Credit: $0.25-$0.30

Max loss: $0.70

BE: $11.70

Mgmt: Buy back if stock nears $12.05; hold to expiry if above.

Conservative traders wanting income with cushion.

Watchlist Triggers

Entry Triggers

IFIF NOK sustains above $13.5 for 2 days → THEN buy 2026-07-24 $14/$15.50 call spread (NOK-1) at $0.45-$0.56

IFIF NOK breaks above $14.0 on volume → THEN buy 2026-07-24 $14 call (NOK-2) at $1.13-$1.38

Exit Triggers

EXITIF NOK trades below $12.05 → THEN close all bullish positions (NOK-1, NOK-2, NOK-3)

Tactical Summary

NOK biased slightly bullish toward $14.5 with max pain at $14. Use bull call spread or long call on strength above $13.5-$14.0. Exit if support $12.05 breaks. Put credit spread as defensive alternative if near $12.

How to Use These Reports

This directional reflects the market close on June 18, 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.