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ORCL

Oracle CorporationClose $149.20EOD only

Max Pain

$147.00

Next expiry Sep 25, 2026

Expected Move

±$5.96

4.0% from close

Price Gap

-2.20

Distance to max pain

IV Rank

Low premium

P/C OI

0.88

Slightly call-heavy

Consensus

5.5/10

Bullish tilt

Published snapshot: Sep 22, 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

Sep 22, 2026 close

ORCL Theta Report

Analysis based on market close June 24, 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 June 24, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 14.8% from MP; +0.5 VIX 19

IV Environment

IV Regime

High

IV vs VIX

IV (72.6%) is ~3.9x VIX (18.6%), indicating extreme premium pricing

Favorable?

Yes

Term structure: Term structure is flat with slight uptick at long end; front-end skew is extreme with call IV 112% vs put 86%

⚠️Extreme call skew on 2d expiration implies high demand for calls

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-54.9M)

Gamma flip: ~$150.00 — Approx — based on put OI concentration of 11,122 (4.8% below spot)

OI concentrations: Max pain at $185 (26Jun, 2Jul) and $182 (10Jul); put floor $90-$140, call wall $200-$220

Verdict: Spot at ~158 well below max pain; potential drift toward $185 but short gamma increases intraday risk

Premium Opportunities

Iron condor

Sell 2026-06-26 $150.00/$145.00 put wing and $180.00/$182.50 call wing

Sell put wing 150/145 and call wing 180/182.5, collect $0.54 credit. Max gain $54, max loss $446 per spread. High IV makes theta decay favorable.

Credit: $0.45-$0.54

Max loss: $4.46

BE: 149.46 / 180.54

Mgmt: Manage around earnings (Sep 9). Consider closing at 50% profit or if spot approaches either wing. Watch dealer gamma (-$54.9M). Liquidity warning: Liquidity constraints: short_call: Wide spread (55%).; long_call: Wide spread (80%). Substitutions: short_put: resolved contract 2026-04-17 $150.00 missing; used 2026-06-26 $150.00.; long_put: resolved contract 2026-04-17 $145.00 missing; used 2026-06-26 $145.00.; short_call: resolved contract 2026-04-17 $180.00 missing; used 2026-06-26 $180.00.; long_call: resolved contract 2026-04-17 $182.50 missing; used 2026-06-26 $182.50.

Risk Alerts

!Extreme front-end skew: call IV 112% vs put 86%

!Negative dealer gamma (-$54.9M) may amplify moves

!Spot is 14.8% below max pain increasing pin risk

How to Use These Reports

This theta reflects the market close on June 24, 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.