thetaOwl
HomeOptionsSOXLReports

SOXL

Direxion Daily Semiconductor Bull 3XClose $93.67EOD only
Max Pain
$125.00
Next expiry Oct 23, 2026
Expected Move
±$13.97
14.9% from close
Price Gap
+31.33
Distance to max pain
IV Rank
16
Low premium
P/C OI
1.82
Slightly put-heavy
Consensus
3.5/10
Bearish tilt
Published snapshot: Oct 16, 2026 close
End-of-day snapshot

This page reflects SOXL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Oct 16, 2026 close
SOXL Theta Report
Analysis based on market close June 5, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 5, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Sell OTM puts
Invalidation: Spot breaks below $170 support or GEX turns positive
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 18.9% from MP; +0.5 VIX 22

IV Environment

IV Regime
High
IV vs VIX
IV 129% >> VIX 21.5, extreme skew
Favorable?
Yes

Term structure: Front-end skewed; put IV 355% vs call 192% at 0DTE; humped at 1W

⚠️Put IV 355% on 0DTE signals extreme downside fear
📈IV 129% vs VIX 21.5 offers rich premium
🐻Negative GEX -$12M, dealers hedge bearish

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-12.0M)

Gamma flip: ~$150.00 — Approx — based on put OI concentration of 6,224 (17.8% below spot)

OI concentrations: Max pain $225 (0DTE), $210 (1W), $140 (2W); put OI heavy below spot; gamma flip $150

Verdict: Pin risk elevated due to negative gamma and heavy put OI; spot near $170 support

Premium Opportunities

#1
Call credit spread
Sell 2026-06-26 $190.00/$192.00 call spread
Edge from selling overpriced call options in bearish flow with negative gamma.
Credit: $0.88-$1.07
Max loss: $0.93
BE: $191.07
Mgmt: Exit if spot approaches 231.59 invalidation or IV collapses below 100%. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.

Risk Alerts

!Bearish flow + negative GEX increase downside delta-hedging pressure
!Spot 18.9% from max pain, potential drift toward pin
!High put IV skew may decay if spot stabilizes
How to Use These Reports
This theta reflects the market close on June 5, 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.