thetaOwl
HomeOptionsSTXReports

STX

Seagate Technology Holdings PLCClose $1094.04EOD only
Max Pain
$960.00
Next expiry Jun 26, 2026
Expected Move
±$100.25
9.2% from close
Price Gap
-134.04
Distance to max pain
IV Rank
14
Low premium
P/C OI
1.18
Slightly put-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Jun 22, 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 22, 2026 close
STX 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.

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short puts at support with wide spreads
Invalidation: Break below $940 with volume
Confidence:
4 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 19; override: Strong GEX and high IV, but elevated vol risk

IV Environment

IV Regime
High
IV vs VIX
IV ~98% vs VIX 19.5, extremely elevated
Favorable?
Yes

Term structure: Front-end IV >100%, put skew steep, term structure downward sloping after 1 week

📈IV at 98% offers rich premiums but vanna risk high

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+1.8M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 1,656 (23.0% below spot)

OI concentrations: Heavy put OI at $800-$860, call wall $1150-$1500

Verdict: Pinning likely near $1010 for monthly, but high vol skews risk

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $1000.00/$990.00 put spread
Captures high IV premium before earnings
Credit: $4.72-$5.77
Max loss: $4.23
BE: $994.23
Mgmt: Close if STX breaks $1010 or 50% max profit
#2
Iron condor
Sell 2026-07-31 $1020.00/$990.00 put wing and $1050.00/$1080.00 call wing
Benefit from IV crush and pinning
Credit: $25.25-$30.86
Max loss: $0.00
BE: 989.14 / 1080.86
Mgmt: Adjust wings if pin fails 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.
#3
Call credit spread
Sell 2026-08-21 $1050.00/$1080.00 call spread
Bearish bias above $1050
Credit: $11.43-$13.97
Max loss: $16.03
BE: $1063.97
Mgmt: Exit if STX rallies above $1050 Liquidity warning: Liquidity constraints: long_call: Volume below 5.

Risk Alerts

!High IV may crush quickly if spot stabilizes
!Short-dated puts have extreme vega risk
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.