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ORCL

Oracle CorporationClose $244.58EOD only

Max Pain

$205.00

Next expiry Jun 5, 2026

Expected Move

±$6.33

2.6% from close

Price Gap

-39.58

Distance to max pain

IV Rank

High premium

P/C OI

0.87

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jun 2, 2026 close

End-of-day snapshot

This page reflects ORCL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 2, 2026 close

ORCL Theta Report

Analysis based on market close April 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 17, 2026. A newer theta report is available for May 22, 2026.

View latest report

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 12.9% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

Avg IV ~63 >> VIX 17; short-dated/skew extreme around expiries

Favorable?

Yes

Term structure: Steep near-term skew (0–14d blown out), multi-week ATM ~50–56% — structurally elevated

⚠️Short-dated IV spike creates rich near-term premium for sellers

📌Max-pain clustering at 155/150 supports pinning into 4/17, 4/24, 5/1 expiries

💥Early-assignment risk and borrow costs: short ITM short puts/calls may be assigned into stock; borrow/locate and margin can materially widen P/L drawdowns

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+276.4M)

OI concentrations: Max pain pins: 155 (4/17), 150 (4/24,5/1); call OI wall 185–250; limited put depth below spot

Verdict: Pinning regime: concentrated OI near 150–155 increases pin risk into listed weekly expiries, raising short-gamma and assignment probability at expiry

Premium Opportunities

Put credit spread

Sell 2026-06-18 $160.00/$155.00 put spread

Sell 160/155 put spread to collect defined premium while limiting downside; size small vs portfolio to manage early-assignment risk.

Credit: $1.60-$1.95

Max loss: $3.05

BE: $158.05

Mgmt: Close or roll if spot <162 or IV collapses >30%; cut at 160.58 invalidation.

Iron condor

Sell 2026-06-18 $160.00/$155.00 put wing and $185.00/$195.00 call wing

Sell 160/155 put wing and 185/195 call wing to harvest skew while capping risk both sides.

Credit: $4.64-$5.67

Max loss: $4.33

BE: 154.33 / 190.67

Mgmt: Keep conservative size; hedge or unwind if spot nears wings or IV drops >30%.

Risk Alerts

!Earnings/expiry IV repricing into 4/17–5/1: historical short-dated post-expiry IV collapses ~30–50% could wipe ~40–70% of short premium realized value (timing risk around listed expiries)

!Early assignment risk: short ITM options may be exercised before ex-dividend/expiry — creates immediate stock exposure, margin increase and borrow needs impacting P/L

!Margin/borrow & short-gamma bleed: margin hits or locate failures can force buy-ins; concentrated short-gamma into weekly expiries can amplify moves and double realized losses vs theoretical Greeks

How to Use These Reports

This theta reflects the market close on April 17, 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.