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NOK

Nokia Corporation SponsoredClose $12.51EOD only

Max Pain

$13.00

Next expiry Jul 10, 2026

Expected Move

±$0.83

6.7% from close

Price Gap

+0.49

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.34

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jul 6, 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

Jul 6, 2026 close

NOK Theta Report

Analysis based on market close June 29, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Theta Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.5% from MP; +1 VIX 18

IV Environment

IV Regime

High

IV vs VIX

IV 87.6% >> VIX 17.7

Favorable?

Yes

Term structure: Front near 70%, back ~73%, spike to 85.8% at Jul24 expiry.

💰Rich premiums with avg IV 87.6%

⚠️Gamma flip at $12; break below risks sell-off

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+111.1M)

Gamma flip: ~$12.00 — Approx — based on put OI concentration of 50,344 (7.9% below spot)

OI concentrations: Put OI floor at $12, call OI wall $14-$19. Put/Call OI ratio 0.31.

Verdict: Bullish pinning toward max pain $14 (Jul2/10) and $13 (Jul17).

Premium Opportunities

Put credit spread

Sell 2026-07-31 $13.00/$12.00 put spread

Sell $13/$12 put spread, high IV, max pain at $13

Credit: $0.46-$0.57

Max loss: $0.43

BE: $12.43

Mgmt: Close before Jul24 event or if spot nears $12

Iron condor

Sell 2026-07-31 $13.00/$12.00 put wing and $14.00/$16.00 call wing

Sell put spread $13/$12 and call spread $14/$16, non-directional

Credit: $0.88-$1.08

Max loss: $0.92

BE: 11.92 / 15.08

Mgmt: Manage wings if volatility spikes

Risk Alerts

!Volatility compression risk if VIX drops

!Event risk at Jul24 expiry

!Spot below $12 invalidates bullish thesis

How to Use These Reports

This theta reflects the market close on June 29, 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.