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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

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 Theta Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.1% from MP; +0.5 VIX 19

IV Environment

IV Regime

High

IV vs VIX

IV extremely elevated relative to VIX (89% vs 19%), offering rich premiums.

Favorable?

Yes

Term structure: Steep backwardation: near-term IVs (1DTE 65%) far exceed longer-term, indicating event risk.

📍Max pain at $14 with strong OI concentration, pinning likely.

💰Positive dealer gamma $125M supports pinning environment.

⚠️1DTE put IV 121% signals extreme short-term fear; attractive but risky.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+125.5M)

Gamma flip: ~$12.00 — Approx — based on put OI concentration of 49,962 (14.2% below spot)

OI concentrations: Put OI floor at $12 (49,962 contracts); call wall $15-$20. Max pain $14 high concentration.

Verdict: Pinning high due to max pain alignment and positive GEX; gamma flip at $12 limits downside.

Premium Opportunities

Iron condor

Sell 2026-07-17 $13.00/$12.00 put wing and $15.00/$16.00 call wing

Short put and call wings to capture premium.

Credit: $0.49-$0.60

Max loss: $0.40

BE: 12.40 / 15.60

Mgmt: Close at 50% max gain or before earnings.

Put credit spread

Sell 2026-07-24 $13.00/$12.00 put spread

Sell put spread to collect premium.

Credit: $0.32-$0.40

Max loss: $0.60

BE: $12.60

Mgmt: Exit if spot breaks $12.26.

Risk Alerts

!1DTE options extreme IV (put 121%); avoid naked short options.

!Gamma flip at $12; below that, dealer hedging may accelerate decline.

!Spot at max pain but volume spikes could cause deviation.

How to Use These Reports

This theta 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.