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NOK

Nokia Corporation SponsoredClose $9.36EOD only
Max Pain
$9.00
Next expiry Aug 14, 2026
Expected Move
±$0.64
6.8% from close
Price Gap
-0.36
Distance to max pain
IV Rank
33
Middle-high premium
P/C OI
0.36
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Aug 7, 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
Aug 7, 2026 close
NOK Earnings Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 24, 2026. A newer earnings report is available for June 29, 2026.

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Earnings Verdict

Bullish flow and gamma pinning at $14, but earnings 29 days out add uncertainty.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.4% from MP; +0.5 VIX 19
Most important: Strong bullish metrics near-term; long-dated IV and earning remoteness warrant caution.
🟢Bullish flow and pinning at $14 support near-term strength.
🔴Long-dated put buying suggests bearish hedging post-earnings.
🟡Earnings far away; IV may decay before event.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Below
Gamma flip: ~$12.00 — Approx — based on put OI concentration of 49,389 (13.1% below spot)

Earnings Overview

Next earnings: 2026-07-23 (29 days)explicit

Expected moves:

  • 2026-06-26 (2d): ±$0.83 (6.0%)
  • 2026-07-02 (8d): ±$1.35 (9.8%)
  • 2026-07-10 (16d): ±$1.87 (13.5%)

IV Setup

Term structure: Steep contango: near-term IV ~60%, year-end >80%.

Crush estimate: Expected ~10-15% post-earnings IV decline.

Skew: Put skew elevated for longer expiries; Dec'26 $17 put at 76.5% IV.

Historical Context

Beat rate: 60% (3/5 quarters)

Avg move vs expected: Not available; beat rate 60%, slight upside bias.

Directional bias: Slightly bullish from beat rate, but sample small.

Key Levels

1$12.00 gamma flip
2EM guardrails: 2d $12.99/$14.64; 1w $12.46/$15.16
3Max pain pins: $14 (2026-06-26); $14 (2026-07-02); $14 (2026-07-10)

Flow Highlights

Notable $14.50 call buying for 7/2 expiration; long-dated puts at $17 and $10.

Call buying bullish near-term; put buying hedges downside risk longer-term.

Strategies

Call Calendar
Sell 2026-06-26 $14.00 call / buy 2026-07-02 $14.00 call
Debit: $0.23-$0.28
Max loss: $0.28
Max gain: Variable
BE: Path-dependent
Trigger: Exit if spot breaches $11.94 invalidation; roll if near-term call profitable early.
Exploits steep contango (60% near-term vs >80% year-end) and earnings uncertainty with defined risk.
Outperforms: Sell near-term high IV call, buy longer-dated call to capture IV decay post-earnings.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Long Strangle
Buy 2026-07-24 $12.50 put + buy $16.50 call
Debit: $1.34-$1.63
Max loss: $1.63
Max gain: Unlimited
BE: 10.87 / 18.13
Trigger: Set stop-loss at 50% premium decay; exit before earnings if IV crush exceeds expectations.
Lower cost than straddle with OTM wings; profits from large move with 60% beat rate.
Outperforms: OTM put and call capture earnings volatility at lower premium.
Underperforms: Insufficient realized move reduces long-strangle edge.
Iron Condor
Sell 2026-06-26 $12.00/$11.50 put wing and $14.00/$14.50 call wing
Credit: $0.16-$0.20
Max loss: $0.30
Max gain: $0.20
BE: 11.80 / 14.20
Trigger: Monitor gamma flip at $12; adjust if spot moves near wings. Liquidity warning: Liquidity constraints: short_put: Wide spread (67%).; long_put: Volume below 5.
Defined-risk sale in steep contango; but liquidity is low, reducing appeal.
Outperforms: Sell out-of-the-money put and call wings to collect premium.
Underperforms: Move outside short strikes invalidates range thesis.
Long straddle
Buy 2026-07-24 $14.50 put + buy $14.50 call
Debit: $2.69-$3.28
Max loss: $3.28
Max gain: Unlimited
BE: 11.22 / 17.78
Earnings in 29 days with 60% beat rate and steep contango; straddle profits from large move.
Outperforms: Buy straddle to capture earnings move with low net gamma cost.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Earnings 29 days out; gamma flip at $12 if spot drops.
!High IV in long-dated puts reflects hedging demand.
!Broad market weakness (SPY/QQQ negative) could pressure NOK.

What to Watch

?Spot vs $14 max pain and $12 gamma flip.
?Volume on 7/2 14.5C for bullish conviction.
?VIX direction and any pre-earnings announcements.
How to Use These Reports
This earnings reflects the market close on June 24, 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.

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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.