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ORCL

Oracle CorporationClose $188.33EOD only
Max Pain
$185.00
Next expiry Jun 18, 2026
Expected Move
±$6.87
3.6% from close
Price Gap
-3.33
Distance to max pain
IV Rank
47
Middle-high premium
P/C OI
0.88
Slightly call-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Jun 16, 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 16, 2026 close
ORCL Theta Report
Analysis based on market close June 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short premium (strangles/iron condors)
Invalidation: Spot breaks EM guardrails $178.61/$188.44
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 spot 0.8% from MP; +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
IV 69% vs VIX 18% indicates highly overpriced options
Favorable?
Yes

Term structure: Near-term elevated, slight backwardation after 15d, overall flat

💰Elevated IV offers premium selling opportunity; term structure flat with slight backwardation mid-term

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-28.7M)

OI concentrations: Max pain pins at $185 (0DTE), $192, $190; spot near $185?

Verdict: Moderate pin risk with high gamma at 0DTE $185

Premium Opportunities

#1
Iron condor
Sell 2026-07-17 $180.00/$175.00 put wing and $190.00/$195.00 call wing
Sell put and call wings to capture elevated IV. Risk is limited to width minus credit.
Credit: $3.37-$4.12
Max loss: $0.88
BE: 175.88 / 194.12
Mgmt: Close at 50% max profit or at expiration to avoid gamma spike.
#2
Short strangle
Sell 2026-07-17 $175.00 put + sell $200.00 call
Sell OTM put and call to harvest theta. Wider wings than iron condor.
Credit: $10.60-$12.95
Max loss: Unlimited
BE: 162.05 / 212.95
Mgmt: Adjust if spot approaches strikes; close before earnings.
#3
Put credit spread
Sell 2026-07-10 $170.00/$165.00 put spread
Sell put spread at support level to collect credit from overpriced puts.
Credit: $1.08-$1.31
Max loss: $3.69
BE: $168.69
Mgmt: Close at 50% profit or if invalidation level breached.

Risk Alerts

!Dealer gamma negative $28.7M may amplify moves; high IV skew could cause rapid decay
How to Use These Reports
This theta reflects the market close on June 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.