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NOK

Nokia Corporation SponsoredClose $14.18EOD only

Max Pain

$13.00

Next expiry May 22, 2026

Expected Move

±$0.48

3.4% from close

Price Gap

-1.18

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.23

Slightly call-heavy

Consensus

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No reports available

Published snapshot: May 21, 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

May 21, 2026 close

NOK Flow Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 19.0% from MP; +1 VIX 17

Watch next session: Monitor put activity for hedging unwinds; Check if spot can break above $16 resistance

Flow Summary

Net premium: +$68.7M bullish

P/C volume ratio: 0.24

P/C OI ratio: 0.23

NOK sees strong bullish flow with $68.7M net premium and 0.24 put/call volume ratio. Positive gamma ($521.7M) and regime confirm pinning above $15. Unusual put buying may hedge downside but overall sentiment remains bullish.

Notable Prints

NOK 2026-06-05 $14.50 Put

Vol: 16,449

OI: 213

Vol/OI: 77.2x

IV: 71.5%

Notional: ~$740K

Intent: Speculative put buying

Dual read: May be part of a spread

Read-through: Bearish view expecting drop below $14.5

NOK 2026-05-22 $15.50 Put

Vol: 9,847

OI: 199

Vol/OI: 49.5x

IV: 10.2%

Notional: ~$49K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NOK 2026-05-29 $15.00 Put

Vol: 25,917

OI: 638

Vol/OI: 40.6x

IV: 69.7%

Notional: ~$1.1M

Intent: Hedging or bearish bet

Dual read: Could be put selling if IV high

Read-through: Near-term downside risk

NOK 2026-06-05 $15.00 Put

Vol: 8,683

OI: 269

Vol/OI: 32.3x

IV: 72.8%

Notional: ~$573K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NOK 2026-05-29 $15.50 Put

Vol: 5,252

OI: 263

Vol/OI: 20.0x

IV: 70.5%

Notional: ~$347K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Institutions adding calls at $16 (Jun) and $22 (Aug) strikes

Put additions: Heavy put additions at $14.5-$15.5 across May/Jun expiries, likely hedging

GEX/DEX consistency: GEX +521.7M, DEX +154.1M shares, both positive, consistent with bullish flow

OI clusters: OI build at $15-$15.5 puts and $16 calls; concentration near spot

Hedging evidence: Large put volume (77x OI at $14.5 put) suggests protective hedging

Max pain context: Max pain near $15.5-$16; spot above MP, pinning upward

Signal vs Noise

~Heavy put buying is hedging, not bearish signal

~Low put/call ratio (0.24) confirms bullish flow

~GEX/DEX positive reinforce gamma pinning

~Unusual call volume in back-month calls indicates institutional positioning

Key Conclusions

📈Institutional call additions suggest bullish bias

⚠️Put buying likely protective, not directional

📌Gamma pinning supports upward drift

🔍Low put/call ratio confirms bullish sentiment

How to Use These Reports

This flow reflects the market close on May 22, 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.