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STX

Seagate Technology Holdings PLCClose $993.25EOD only
Max Pain
$1020.00
Next expiry Jun 26, 2026
Expected Move
±$69.60
7.0% from close
Price Gap
+26.75
Distance to max pain
IV Rank
16
Low premium
P/C OI
1.20
Slightly put-heavy
Consensus
6.0/10
Range bias
Published snapshot: Jun 24, 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 24, 2026 close
STX Theta Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness5 / 10
Sizing: Conservative
Primary: Iron condor $950/$1000/$1050/$1100
Invalidation: Spot breaks below $950 or above $1100 on volume
Confidence:
4 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 19; override: Neutral iron condor avoids pin risk; premium still high

IV Environment

IV Regime
High
IV vs VIX
Avg IV 95.7% vs VIX 18.9 – extreme premium
Favorable?
No

Term structure: Front-end spike (1d put IV 206%) decaying to 2-4 week then stable

⚠️0DTE put IV 206% – max pain $1000 pin risk

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+1.9M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 1,677 (22.0% below spot)

OI concentrations: Max Pain $1000 (0DTE), $980 (7DTE), $940 (15DTE). Put floor $550-860, Call wall $1150-1500. Gamma flip $800.

Verdict: Elevated pin risk with OI concentrated at $1000 puts; 22% of OI below spot at $800

Premium Opportunities

#1
Put credit spread
Sell 2026-08-21 $860.00/$840.00 put spread
Sell 860/840 put spread to capture elevated premium with defined loss.
Credit: $5.31-$6.49
Max loss: $13.51
BE: $853.51
Mgmt: Exit if spot reaches $1000 or if IV collapses. Liquidity warning: Liquidity constraints: short_put: Volume below 5.; long_put: Open interest below 25.
#2
Put diagonal
Sell 2026-07-31 $925.00 put / buy 2026-09-18 $910.00 put
Sell July 925 put, buy Sept 910 put to profit from IV normalization.
Debit: $42.61-$52.09
Max loss: $52.09
BE: Path-dependent
Mgmt: Close before earnings if IV gap narrows. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.
#3
Iron condor
Sell 2026-08-21 $910.00/$890.00 put wing and $1340.00/$1350.00 call wing
Sell 910/890 put and 1340/1350 call spread; wide OTM limits edge.
Credit: $8.64-$10.56
Max loss: $9.44
BE: 899.44 / 1350.56
Mgmt: Hold to expiry if spot remains; adjust if trend emerges. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Volume below 5.

Risk Alerts

!0DTE gamma squeeze risk around $1000
!Extreme put IV indicates bearish tail risk
!GEX positive $1.9M limits downside but pin may fail
How to Use These Reports
This theta reflects the market close on June 25, 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.