thetaOwl
HomeOptionsSTXReports

STX

Seagate Technology Holdings PLCClose $1070.23EOD only
Max Pain
$915.00
Next expiry Jun 26, 2026
Expected Move
±$112.50
10.5% from close
Price Gap
-155.23
Distance to max pain
IV Rank
100
High premium
P/C OI
1.15
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 18, 2026 close
End-of-day snapshot

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

Published Snapshot
Jun 18, 2026 close
STX Theta Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Theta collection with defined risk
Invalidation: Spot breaks below 700 or above 1150
Confidence:
6 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 65.9% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
Average IV (133.8%) vs VIX (16.78) is extremely high, indicating elevated volatility premium.
Favorable?
Yes

Term structure: Term structure steep from 0DTE (29.98% ATM IV) to 8DTE (89.06%), then flattening. Extreme call/put IV skew on 0DTE.

📈IV 8x VIX, rich premium for sellers
⚠️0DTE call IV 681% highlights tail risk
📌Gamma pinning near $900-$950 zone

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+5.7M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 1,612 (25.2% below spot)

OI concentrations: Max pain: $645 (0DTE), $915 (6/26), $910 (7/2). Put OI heavy $700-$950 (25.2% below spot).

Verdict: Elevated pin risk due to high put OI and proximity to max pain; spot is 65.9% above $645 pin.

Premium Opportunities

#1
Iron condor
Sell 2026-07-24 $965.00/$835.00 put wing and $1290.00/$1400.00 call wing
Collects theta from elevated IV with bounded risk.
Credit: $53.01-$64.79
Max loss: $65.21
BE: 900.21 / 1354.79
Mgmt: No adjustment needed unless spot approaches strikes. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.; short_call: Open interest below 25.; long_call: Open interest below 25.
#2
Put credit spread
Sell 2026-06-26 $1010.00/$940.00 put spread
Sells put premium after earnings volatility.
Credit: $14.76-$18.04
Max loss: $51.96
BE: $991.96
Mgmt: No adjustment needed unless spot approaches strikes. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.

Risk Alerts

!0 DTE call/put IV extreme (681%/587%) – watch for pin action
!Gamma flip level at $800 – accelerated moves below
!Spot far from max pain $645 – potential mean reversion
How to Use These Reports
This theta reflects the market close on June 18, 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.