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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
99
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 Earnings Report
Analysis based on market close June 8, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Strong bullish flow ahead of July earnings, but spot below max pain

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.9% from MP; +0.5 VIX 19
Most important: Heavy near-term call buying at $15 and $16, low put/call ratios, high IV
🔥Huge call volume $15/$16 June 12, bullish
⚠️Spot below max pain, gamma pin warning
💸Net premium $40.7M inflow, calls dominant

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Below
Gamma flip: ~$14.00 — Approx — based on put OI concentration of 54,781 (4.0% below spot)

Earnings Overview

Next earnings: 2026-07-23 (45 days)explicit

Expected moves:

  • 2026-06-12 (4d): ±$1.14 (7.8%)
  • 2026-06-18 (10d): ±$1.60 (11.0%)
  • 2026-06-26 (18d): ±$2.11 (14.5%)

IV Setup

Term structure: Steep contango: 7.8% (4d) to 14.5% (18d) expected moves

Crush estimate: Significant crush post-earnings, ~30-40% IV drop

Skew: Call skew elevated; puts relatively cheap

Historical Context

Beat rate: 60% (3/5 quarters)

Directional bias: 60% beat rate, slightly bullish

Key Levels

1$14.00 gamma flip
2EM guardrails: 1w $12.99/$16.20
3Max pain pins: $16 (2026-06-12); $14 (2026-06-18); $15 (2026-06-26)

Flow Highlights

Massive call buying at $15 and $16 for June 12 (vol/OI > 2)

Speculative near-term upside positioning

P/C volume ratio 0.12, net premium $40.7M inflow

Extremely bullish flow concentration

Strategies

Iron Condor on NOK
Sell 2026-07-17 $14.00/$13.00 put wing and $16.00/$17.00 call wing
Credit: $0.60-$0.74
Max loss: $0.26
Max gain: $0.74
BE: 13.26 / 16.74
Trigger: Monitor near $16; close if IV contracts early or price breaks beyond wings.
Best fit for high IV contango and pinning risk near max pain $16. Premium selling captures time decay and range-bound move.
Outperforms: Sells put and call wings outside $14–$16 range, benefiting from IV crush and minimal expected move.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar on NOK
Sell 2026-06-18 $16.00 call / buy 2026-07-17 $16.00 call
Debit: $0.62-$0.76
Max loss: $0.76
Max gain: Variable
BE: Path-dependent
Trigger: Roll if front-month IV collapses early; adjust to maintain net theta.
Elevated near-term IV relative to back months allows time decay capture with bullish bias from heavy call buying.
Outperforms: Sells front-month and buys back-month $16 call to profit from IV differential and time decay.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Bull call spread
Buy 2026-08-21 $15.00/$17.00 call spread
Debit: $0.55-$0.67
Max loss: $0.67
Max gain: $1.33
BE: $15.67
Heavy call buying at $15 and $16 suggests bullish sentiment; spread limits cost while leveraging upside.
Outperforms: Bull call spread to capture post-earnings upside with defined risk.
Underperforms: Loss of support weakens upside continuation thesis.

Risk Assessment

!Spot 5.9% below max pain $16, pinning risk
!High IV may cause rapid decay if move misses
!Earnings 45d out, near-term flow speculative

What to Watch

?Price action around $15 and $16 call walls
?Put/call OI ratio shifts
?Any negative catalysts or news
How to Use These Reports
This earnings 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.