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STX

Seagate Technology Holdings PLCClose $1038.59EOD only
Max Pain
$1010.00
Next expiry Jun 26, 2026
Expected Move
±$85.05
8.2% from close
Price Gap
-28.59
Distance to max pain
IV Rank
16
Low premium
P/C OI
1.18
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 23, 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 23, 2026 close
STX Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short premium on high IV, monitor gamma flip
Invalidation: Spot breaks below $800 gamma flip or above $1150 call wall
Confidence:
4 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Extremely elevated: IV 98% vs VIX 19 (ratio ~5x)
Favorable?
Yes

Term structure: Steep backwardation: front-week IV 97% decays to 88% in 3 weeks

⚠️Front-week IV 97% offers rich decay but pin risk near max pain

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+684K)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 1,679 (19.5% below spot)

OI concentrations: Put floor $550-860, call wall $1150-1400; max pain $1020 (2d), $980 (8d), $940 (16d)

Verdict: Gamma pin likely near $1020 front week; spot below MP risks slide to $980; dealer long gamma supports pinning but high put OI below spot is bearish

Premium Opportunities

#1
Iron condor
Sell 2026-07-24 $860.00/$730.00 put wing and $1220.00/$1390.00 call wing
Sell wings around expected pin, collect premium from inflated IV.
Credit: $47.48-$58.03
Max loss: $111.97
BE: 801.97 / 1278.03
Mgmt: Set 50% profit target; adjust wings if spot deviates. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Wide spread (50%).; short_call: Open interest below 25.; long_call: Wide spread (61%).
#2
Put credit spread
Sell 2026-07-31 $885.00/$810.00 put spread
Sell downside put spread to capture premium while capping loss.
Credit: $22.86-$27.94
Max loss: $47.06
BE: $857.06
Mgmt: Exit at 50% profit or stop loss at invalidation $916.35. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.
#3
Short strangle
Sell 2026-07-24 $860.00 put + sell $1220.00 call
Collect high premium from both sides, vulnerable to sharp moves.
Credit: $74.97-$91.63
Max loss: Unlimited
BE: 768.37 / 1311.63
Mgmt: Require tight stops or hedging; avoid if illiquid. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; short_put: Open interest below 25.

Risk Alerts

!High IV may collapse if spot stabilizes
!Short-term gamma pin can cause sharp moves
!Spot below max pain could accelerate lower
How to Use These Reports
This theta reflects the market close on June 24, 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.