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ORCL

Oracle CorporationClose $184.13EOD only
Max Pain
$185.00
Next expiry Jun 18, 2026
Expected Move
±$10.55
5.7% from close
Price Gap
+0.87
Distance to max pain
IV Rank
53
Middle-high premium
P/C OI
0.84
Slightly call-heavy
Consensus
6.0/10
Consensus signal
Published snapshot: Jun 12, 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 12, 2026 close
ORCL Theta Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Undefined
Invalidation: Spot breaks above $200 or VIX spikes above 20
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 3.1% from MP; +1 VIX 18

IV Environment

IV Regime
High
IV vs VIX
IV elevated relative to VIX (73.7% vs 17.7)
Favorable?
Yes

Term structure: Front-month (0 DTE) extreme IV skew; back-month ATM IV ~52% with flat structure

⚠️0 DTE call IV 157% put 111% indicates binary event risk
📉Negative dealer gamma ($-7.7M) suggests hedging could amplify moves
📈High overall IV (73.7%) favors premium selling, but spot 3.1% below max pain

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-7.7M)

Gamma flip: ~$180.00 — Approx — based on put OI concentration of 14,969 (2.2% below spot)

OI concentrations: Max pain $190 (0 DTE), $185 (6 DTE), $192 (14 DTE). Put OI concentration at $180 gamma flip.

Verdict: Elevated pin risk near $190 due to 0 DTE expiry and max pain concentration. Spot at $183.95 below MP suggests potential drift upward.

Premium Opportunities

#1
Call calendar
Sell 2026-07-10 $200.00 call / buy 2026-08-21 $200.00 call
Sell near-term OTM call, buy later expiry same strike to capture contango.
Debit: $6.17-$7.54
Max loss: $7.54
BE: Path-dependent
Mgmt: Monitor spot approaching $200; roll if needed.
#2
Iron condor
Sell 2026-07-10 $170.00/$165.00 put wing and $200.00/$205.00 call wing
Sell OTM put and call wings for range-bound profit.
Credit: $2.16-$2.64
Max loss: $2.36
BE: 167.36 / 202.64
Mgmt: Adjust wings if spot nears $170 or $200.
#3
Put credit spread
Sell 2026-07-10 $170.00/$165.00 put spread
Sell OTM put spread for premium with limited downside.
Credit: $1.24-$1.51
Max loss: $3.49
BE: $168.49
Mgmt: Close if spot breaks above $180.

Risk Alerts

!Front-month expiry today: extreme IV skew (call 157%, put 111%)
!Negative dealer gamma ($-7.7M) can amplify sudden spot moves
!Spot 3.1% below max pain ($190) — potential reversion if theta accelerates
How to Use These Reports
This theta reflects the market close on June 12, 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.