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NOK

Nokia Corporation SponsoredClose $8.14EOD only
Max Pain
$9.00
Next expiry Oct 30, 2026
Expected Move
±$0.51
6.2% from close
Price Gap
+0.86
Distance to max pain
IV Rank
30
Middle-high premium
P/C OI
0.40
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Oct 23, 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
Oct 23, 2026 close
NOK Theta Report
Analysis based on market close June 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 10, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Sell call credit spreads above $14 resistance
Invalidation: Spot breaks above $14.12 or below $12.67
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.7% from MP

IV Environment

IV Regime
High
IV vs VIX
IV extremely elevated vs VIX
Favorable?
Yes

Term structure: Front-end elevated (2dte ~124%), backwardation into 30dte (72.85%), then slight contango.

🔥IV at 91% vs VIX 22 – massive premium
📌Max pain pin at $15 for 2dte, $14 for 8dte
📈Bullish flow with GEX +$128M

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+128.0M)

OI concentrations: Call OI wall at $15-$20; max pain pins $15 (2dte), $14 (8dte). No significant put OI below spot.

Verdict: Moderate pin risk – max pain $15 but spot ~$13.4, below pin. Gamma pinning toward $15 may intensify into expiry.

Premium Opportunities

#1
Call credit spread
Sell 2026-07-17 $15.00/$16.00 call spread
Sell $15/$16 call spread to capitalize on elevated volatility and bearish sentiment ahead of earnings.
Credit: $0.20-$0.24
Max loss: $0.76
BE: $15.24
Mgmt: Exit at 50% profit or if spot breaks above $14. Avoid holding through earnings.
#2
Iron condor
Sell 2026-08-21 $13.00/$12.00 put wing and $15.00/$16.00 call wing
Sell $13/$12 put and $15/$16 call wings for a net credit, expecting spot to stay within range after earnings.
Credit: $0.68-$0.84
Max loss: $0.16
BE: 12.16 / 15.84
Mgmt: Manage at 21 DTE or 50% profit; adjust if spot approaches either wing.

Risk Alerts

!Spot far from max pain (10.7% below) – potential for sharp move
!High front-end IV (124% 2dte) – time decay favorable but vega risk high
How to Use These Reports
This theta reflects the market close on June 10, 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.