thetaOwl
HomeOptionsORCLReports

ORCL

Oracle CorporationClose $144.56EOD only
Max Pain
$148.00
Next expiry Sep 25, 2026
Expected Move
±$4.68
3.2% from close
Price Gap
+3.44
Distance to max pain
IV Rank
1
Low premium
P/C OI
0.87
Slightly call-heavy
Consensus
5.5/10
Bullish tilt
Published snapshot: Sep 23, 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 23, 2026 close
ORCL Theta Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 25, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Call Credit Spreads
Invalidation: Spot breaks above $200 or below $150
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 10.3% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV (45-60%) extremely elevated vs VIX 18.9; call skew steep
Favorable?
Yes

Term structure: Front spike then contango; short-dated call IV > put IV

📈Call IV up to 132% (1DTE) vs 90% puts; extreme call skew

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-61.0M)

Gamma flip: ~$150.00 — Approx — based on put OI concentration of 11,166 (1.6% below spot)

OI concentrations: Max pain $170; call OI wall $200-$220; put floor $90-$130

Verdict: Pin risk at $170 for near-term expirations; spot below MP may drift toward pin

Premium Opportunities

#1
Call credit spread
Sell 2026-07-17 $170.00/$175.00 call spread
Sell call spread to capture premium from high IV & skew, spot below strike.
Credit: $0.68-$0.84
Max loss: $4.16
BE: $170.84
Mgmt: Close at 50% max gain or at invalidation $166.14.
#2
Iron condor
Sell 2026-07-17 $150.00/$140.00 put wing and $170.00/$175.00 call wing
Short strangle with wings benefiting from theta decay if spot stays $140-$170.
Credit: $3.95-$4.82
Max loss: $5.18
BE: 145.18 / 174.82
Mgmt: Manage wings if spot approaches boundaries; target 50% max gain.
#3
Put credit spread
Sell 2026-08-21 $150.00/$135.00 put spread
Sell put spread to collect premium from elevated put IV.
Credit: $5.29-$6.46
Max loss: $8.54
BE: $143.54
Mgmt: Close early if spot drops below $150.

Risk Alerts

!Negative dealer gamma (-$61M) amplifies moves
!Spot 10.3% below max pain; potential gamma pressure
How to Use These Reports
This theta reflects the market close on June 25, 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.