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SOXL

Direxion Daily Semiconductor Bull 3XClose $132.33EOD only
Max Pain
$130.00
Next expiry Aug 7, 2026
Expected Move
±$10.00
7.6% from close
Price Gap
-2.33
Distance to max pain
IV Rank
45
Middle-high premium
P/C OI
2.29
Slightly put-heavy
Consensus
3.5/10
Bearish tilt
Published snapshot: Aug 6, 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
Aug 6, 2026 close
SOXL 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

Attractiveness5 / 10
Sizing: Conservative
Primary: Focus on short-dated premium sales near high IV strikes, but manage risk tightly due to negative GEX.
Invalidation: Spot closes below gamma flip at $200 or above resistance $250.
Confidence:
3.5 / 10
base 5; -1 GEX/flow contradict; -1 spot 7.4% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Avg IV 198% vs VIX 19.5: ~10x, extreme premium.
Favorable?
Yes

Term structure: Downward sloping from 224% to 156% (3D to 241D), indicating near-term fear.

📉Put OI concentration 13.6% below spot suggests strong bearish positioning.
📊Term structure contango flattens after 30D, but elevated short-dated IV.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-2.6M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 4,487 (13.6% below spot)

OI concentrations: Put OI heavy $120-$200; max pain at $250, $230, $200.

Verdict: High pin risk: spot below max pain and near-term gamma flip at $200. Avoid holding short options through expiry.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-24 $220.00/$210.00 put spread
Sell 2026-07-24 $220/$210 put spread to capture high premium with defined risk.
Credit: $4.41-$5.39
Max loss: $4.61
BE: $214.61
Mgmt: Avoid holding through expiry; monitor gamma flip at $200. Tight stop at $220 invalidation.

Risk Alerts

!Dealer gamma negative (-$2.6M) may accelerate moves.
!Spot 7.4% from max pain; quick reversion possible.
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.