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NOK

Nokia Corporation SponsoredClose $13.81EOD only
Max Pain
$14.00
Next expiry Jun 26, 2026
Expected Move
±$0.82
6.0% from close
Price Gap
+0.19
Distance to max pain
IV Rank
57
Middle-high premium
P/C OI
0.32
Slightly call-heavy
Consensus
7.5/10
Bullish tilt
Published snapshot: Jun 24, 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 24, 2026 close
NOK Earnings Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NOK earnings 4.5 weeks out, IV elevated, flow bullish with call buying at $14 and $12.50, put floor at $12, max pain $14, beat rate 60%.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.1% from MP; +0.5 VIX 19
Most important: Flow strongly bullish with large call volume on $14 strike; short-term pinning at $14 but earnings catalyst still distant.
📊Max pain pinned at $14 across all expiries, supporting pinning.
📈Large call volume at $14 and $12.5 suggests bullish conviction.
⚠️Weekly put buying at $17-$19 may indicate downside hedge.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
At
Gamma flip: ~$12.00 — Approx — based on put OI concentration of 49,962 (14.2% below spot)

Earnings Overview

Next earnings: 2026-07-23 (28 days)explicit

Expected moves:

  • 2026-06-26 (1d): ±$0.54 (3.9%)
  • 2026-07-02 (7d): ±$1.21 (8.7%)
  • 2026-07-10 (15d): ±$1.72 (12.3%)

IV Setup

Term structure: Steep contango: 1d IV ~75%, 7d IV ~74%, 15d IV ~73%; put skew extreme for deep OTM (179-295% IV).

Crush estimate: Moderate post-earnings crush expected, ~20-30% from current levels.

Skew: Put skew elevated for OTM strikes, but OI concentrated at $12-$12.5 floor; call skew moderate with $15-$20 wall.

Historical Context

Beat rate: 60% (3/5 quarters)

Avg move vs expected: N/A (limited historical data)

Directional bias: Slightly bullish given recent bullish flow and GEX pinning at $14.

Key Levels

1$12.00 gamma flip
2EM guardrails: 2d $13.44/$14.52; 1w $12.76/$15.19
3Max pain pins: $14 (2026-06-26); $14 (2026-07-02); $14 (2026-07-10)

Flow Highlights

Bullish call buying: 15,485 contracts on $14 2026-07-02 call (3.8x OI).

Aggressive bullish positioning anticipating move above $14.

Unusual put buying: 2,493 contracts on $17 2026-06-26 put (1.6x OI).

Hedge or speculative put activity, but expiry soon and strikes far OTM.

Strategies

Call Diagonal
Sell 2026-07-31 $17.00 call / buy 2026-08-21 $15.00 call
Debit: $0.77-$0.95
Max loss: $0.95
Max gain: Variable
BE: Path-dependent
Trigger: Monitor invalidation at $12.26; roll or close if breached.
Benefits from steep contango and bullish flow, reduces cost vs direct calls.
Outperforms: Sell near-term call, buy later-dated call to profit from time decay and directional move.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Iron Condor
Sell 2026-07-31 $12.50/$11.00 put wing and $17.00/$19.00 call wing
Credit: $0.59-$0.72
Max loss: $1.28
Max gain: $0.72
BE: 11.78 / 17.72
Trigger: Close before earnings if IV drops; adjust wings if $14 breaks. Liquidity warning: Liquidity constraints: long_put: Wide spread (79%).
Defined risk play on IV crush; max pain at $14 supports range.
Outperforms: Sell out-of-the-money put and call wings to collect premium.
Underperforms: Move outside short strikes invalidates range thesis.
Long Strangle
Buy 2026-07-24 $12.50 put + buy $14.00 call
Debit: $1.83-$2.23
Max loss: $2.23
Max gain: Unlimited
BE: 10.27 / 16.23
Trigger: Decay is high; consider early exit if IV falls.
Cheap tail hedge with bullish call volume; unlimited upside.
Outperforms: Buy OTM put and call to capture large moves.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Earnings still 28 days away; theta decay and IV crush risk for premium sellers.
!Short-term pinning at $14 could lead to sharp move if broken.
!Deep OTM put activity suggests downside hedging, but low probability.

What to Watch

?$14 max pain across expiries
?2d guardrails $13.44/$14.52
?Call OI wall $15-$20
?Put floor $12-$12.5
How to Use These Reports
This earnings reflects the market close on June 25, 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.