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NOK

Nokia Corporation SponsoredClose $10.82EOD only
Max Pain
$10.50
Next expiry Sep 25, 2026
Expected Move
±$0.53
4.9% from close
Price Gap
-0.32
Distance to max pain
IV Rank
17
Low premium
P/C OI
0.37
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Sep 22, 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
Sep 22, 2026 close
NOK Theta 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 theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short Put
Invalidation: Spot closes below $12.00
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

IV Environment

IV Regime
High
IV vs VIX
IV extremely high (92%) vs VIX (18.6)
Favorable?
Yes

Term structure: Front-month IV elevated (80.7%), dips to 77% in 1-3wks, then rises to 89% at 30d

📈Bullish dealer flow and gamma pinning at $14 favor short puts
⚠️High IV offers rich premiums but volatility risk is elevated

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+116.3M)

Gamma flip: ~$12.00 — Approx — based on put OI concentration of 49,389 (13.1% below spot)

OI concentrations: Max pain $14 across expiries; call wall $15-$20; put floor $12

Verdict: Upside pin risk to $14; downside support at $12

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $12.00/$11.00 put spread
Sell put spread to collect premium with capped loss.
Credit: $0.17-$0.21
Max loss: $0.79
BE: $11.79
Mgmt: Close at 50% profit or before earnings.
#2
Cash-secured put
Sell 2026-07-24 $12.00 cash-secured put
Sell naked put for elevated premium with assignment risk.
Credit: $0.49-$0.59
Max loss: $11.41
BE: $11.41
Mgmt: Roll if tested; monitor earnings. Liquidity warning: Liquidity constraints: short_put: Wide spread (59%).

Risk Alerts

!High IV may cause rapid premium decay if volatility fails to materialize
!Gamma flip at $12 could accelerate selloff if broken
How to Use These Reports
This theta 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.

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.