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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 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Short premium (post-event)
Invalidation: Break of EM guardrails $183.86-$201.41
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.1% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
Stock IV 66% vs VIX 16 – elevated due to near-term event
Favorable?
Yes

Term structure: Front-end IV 54.5% declining to 52% by Jul, then rising to 59% Dec. Typical pre-earnings shape.

⚠️Near-term IV spike to 108% on Jun18 expiration suggests binary risk; premium rich but hedge delta.
🟢Dealer long gamma $19.6M supports pinning near $185-$192.
📊Term structure offers roll yield from front to back.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+19.6M)

Gamma flip: ~$190.00 — Approx — based on put OI concentration of 17,281 (1.4% below spot)

OI concentrations: Put OI heavy $190 (gamma flip); call wall $210-$250; max pain $185 Jun18, $192 Jun26.

Verdict: Moderate pin risk; spot near $190 above MP; dealers likely pin near $185-$192. Selling premium near these levels carries assignment risk.

Premium Opportunities

#1
Iron condor
Sell 2026-07-10 $177.50/$170.00 put wing and $215.00/$227.50 call wing
Sells OTM put and call wings, profiting from IV drop and range-bound price.
Credit: $3.23-$3.95
Max loss: $8.55
BE: 173.55 / 218.95
Mgmt: Exit at 50% max gain or if spot nears wings. Adjust if gamma risk rises.
#2
Put credit spread
Sell 2026-07-10 $177.50/$170.00 put spread
Bullish defined-risk put spread, collecting premium above major support.
Credit: $1.62-$1.98
Max loss: $5.52
BE: $175.52
Mgmt: Close at 50% profit or if spot breaches $190 invalidation.

Risk Alerts

!Earnings event Jun18 – avoid naked front-month; focus on post-event tenors.
!Gamma flip $190; breach shifts dealer delta.
!Stock-specific risk high despite calm VIX.
How to Use These Reports
This theta reflects the market close on June 15, 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.