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ORCL

Oracle CorporationClose $115.16EOD only
Max Pain
$130.00
Next expiry Nov 6, 2026
Expected Move
±$4.92
4.3% from close
Price Gap
+14.84
Distance to max pain
IV Rank
41
Middle-high premium
P/C OI
0.92
Balanced positioning
Consensus
5.5/10
Bullish tilt
Published snapshot: Nov 5, 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
Nov 5, 2026 close
ORCL Theta Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 23, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness4 / 10
Sizing: Conservative
Primary: Avoid new premium selling; monitor pin risk
Invalidation: Spot breaks below $150 or IV drops below 50%
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 13.1% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV 70.1% vs VIX 19.5 - extremely elevated premium
Favorable?
No

Term structure: Front-end elevated (56.4% at 3DTE) declining to 52-53% by month end, then firming to ~58% at year-end

⚠️High IV but trending gamma & spot below max pain - risky for premium sellers
📉Spot 13.1% below max pain ($190) increases pin risk at expiry

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-40.0M)

Gamma flip: ~$150.00 — Approx — based on put OI concentration of 11,337 (9.2% below spot)

OI concentrations: Put OI floor $90-$150; Call wall $200-$220; Max pain pins near $190, $188, $182

Verdict: Elevated pin risk due to concentrated OI and spot well below max pain; gamma flip at $150

Premium Opportunities

#1
Call calendar
Sell 2026-08-21 $190.00 call / buy 2026-09-18 $190.00 call
Sell front call, buy back call to profit from IV contraction and low theta decay
Debit: $4.03-$4.92
Max loss: $4.92
BE: Path-dependent
Mgmt: Exit if spot breaches $190 or hold through earnings
#2
Put calendar
Sell 2026-08-21 $150.00 put / buy 2026-09-18 $150.00 put
Sell front put, buy back put for volatility normalization
Debit: $3.33-$4.07
Max loss: $4.07
BE: Path-dependent
Mgmt: Monitor closely; close if spot approaches $150

Risk Alerts

!Dealer short gamma (-$40M GEX) may amplify moves
!Spot 13.1% below max pain increases pin risk at expiry
!Trending gamma regime adverse for premium sellers
How to Use These Reports
This theta reflects the market close on June 23, 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.