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NOK

Nokia Corporation SponsoredClose $14.80EOD only
Max Pain
$13.50
Next expiry Jun 18, 2026
Expected Move
±$1.21
8.2% from close
Price Gap
-1.30
Distance to max pain
IV Rank
95
High premium
P/C OI
0.32
Slightly call-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Jun 12, 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 12, 2026 close
NOK Earnings Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Bullish bias ahead of earnings in 41 days, driven by heavy call flow in the earnings-relevant July 24 expiry.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.7% from MP; +1 VIX 18
Most important: Massive call buying at $17 Jul24 strike signals directional bets; put floor shifting to later expirations.
📈Unusual call flow at $17 Jul24 strike signals directional conviction.
⚠️Spot 5.7% above max pain; pin risk for this week's expiry.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$14.00 — Approx — based on put OI concentration of 55,736 (5.4% below spot)

Earnings Overview

Next earnings: 2026-07-23 (41 days)explicit

Expected moves:

  • 2026-06-18 (6d): ±$1.21 (8.2%)
  • 2026-06-26 (14d): ±$1.86 (12.6%)
  • 2026-07-02 (20d): ±$2.21 (15.0%)

IV Setup

Term structure: Front-end elevated (6d 8.2%, 14d 12.6%), but earnings-relevant Jul24 IV at 15% shows slight contango.

Crush estimate: 30-40% IV crush post-earnings expected on Jul24 options.

Skew: Call skew dominant; put/call OI ratio 0.32 on Jul24; put support likely at $14 via later expirations.

Historical Context

Beat rate: 60% (3/5 quarters)

Avg move vs expected: 60% beat rate suggests slight upside bias relative to implied moves.

Directional bias: Bullish given recent flow and gamma pinning.

Key Levels

1$14.00 gamma flip
2EM guardrails: 1w $13.59/$16.01
3Max pain pins: $14 (2026-06-12); $14 (2026-06-18); $14 (2026-06-26)

Flow Highlights

Massive call buying at $17 strike for July 24 expiration (vol/OI 12.6x).

Directional bullish positioning ahead of earnings, as Jul24 covers the event.

Strategies

Bull Call Spread
Buy 2026-07-24 $15.00/$15.50 call spread
Debit: $0.21-$0.26
Max loss: $0.26
Max gain: $0.24
BE: $15.26
Trigger: Exit if spot falls below $14.
Matches bullish call flow and earnings catalyst; limited risk.
Outperforms: Buy $15/$15.5 call expiring Jul24, capturing earnings.
Underperforms: Loss of support weakens upside continuation thesis.
Long Strangle
Buy 2026-07-24 $14.00 put + buy $15.00 call
Debit: $2.80-$3.42
Max loss: $3.42
Max gain: Unlimited
BE: 10.58 / 18.42
Trigger: Close before earnings if IV spikes.
High IV crush risk; only suitable if large move expected.
Outperforms: Buy $14 put and $15 call for earnings volatility.
Underperforms: Insufficient realized move reduces long-strangle edge.
Iron condor
Sell 2026-06-18 $14.00/$13.00 put wing and $15.50/$16.50 call wing
Credit: $0.36-$0.43
Max loss: $0.57
Max gain: $0.43
BE: 13.57 / 15.93
Heavy call flow, elevated IV, slight contango; iron condor harvests premium with wings.
Outperforms: Sell Jul24 iron condor to capture IV crush post-earnings, defined risk on bullish bias.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Spot 5.7% above max pain $14; pin risk for current weekly expiry.
!High IV means large premium decay if move doesn't occur.
!Earnings 41 days away; theta decay on long-dated options is slower.
!Macro risk: VIX 17.68, though SPY/QQQ positive.

What to Watch

?Sustained call accumulation in Jul24 $17 and higher strikes.
?Shift of put open interest to post-earnings expirations for floor confirmation.
?Max pain pin at $14 on weekly expirations near term.
?Close above $15 resistance for bullish continuation.
How to Use These Reports
This earnings reflects the market close on June 12, 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.