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UBER

Uber Technologies, Inc.Close $74.60EOD only

Max Pain

$75.00

Next expiry May 22, 2026

Expected Move

±$1.87

2.5% from close

Price Gap

+0.40

Distance to max pain

IV Rank

Low premium

P/C OI

1.18

Slightly put-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 20, 2026 close

End-of-day snapshot

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

Published Snapshot

May 20, 2026 close

UBER Theta Report

Analysis based on market close March 31, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Theta Verdict

Confidence:

5 / 10

base 5; +1 normal IV; -1 trending GEX; -1 bearish flow; +1 below max pain; +1 liquid

IV Environment

IV Regime

Normal

IV vs VIX

IV 45% — Elevated but not extreme for UBER

Favorable?

Yes

Term structure: Humped at 5/01 (43.1%) and 5/08 (45.0%), then declining

💰IV ~45% provides decent premium for sellers

📅Peak IV in 30-45 DTE range (May expirations)

Pin Risk Assessment

Spot vs MP: Below max pain by 2.8% ($71.93 vs $74)

GEX regime: Trending (GEX -$33.5M — pro-cyclical)

Gamma flip: ~$55.00 — Gamma flip ~$55 is far below spot; negative GEX means dealers amplify moves in direction of trend

OI concentrations: Major put walls: $55 (29K OI), $60 (42K OI), $70 (14K OI). Call wall: $80 (14K OI)

Verdict: Unfavorable — Trending GEX regime threatens credit positions with accelerated moves

Premium Opportunities

put spread

Sell $70/$65 put spread 5/01 (31 DTE)

Places short strike at major $70 OI support (14K OI) with long leg below next $65 OI level. Uses peak IV in 30 DTE range. Below current spot and max pain.

Credit: $1.10-$1.40

Max loss: $3.90

BE: $68.60

Mgmt: Close at 65% profit. Exit if price closes below $70. Roll down/out if $70 tested but not breached.

iron condor

Sell $67.5/$65P x $77.5/$80C 5/15 (45 DTE)

Wide $10 range captures expected move (±$8.75). Puts below $70 OI support, calls below $80 OI call wall. 45 DTE captures high IV while giving time buffer.

Credit: $1.80-$2.20

Max loss: $3.20

BE: 69.30/78.70

Mgmt: Close at 50% profit. Manage wings independently — roll tested side out 2 weeks for credit. Exit entire position if price breaches either short strike.

cash-secured put

Sell $65 put 6/18 (79 DTE)

For capital-secure sellers willing to own UBER. Strike below major $60 OI wall (42K OI) and gamma flip ($55). Collects high time premium with 79 DTE. ~10% below spot.

Credit: $3.50-$4.50

Max loss: $61.50

BE: $61.50

Mgmt: Roll down/out for credit if tested. Close at 70% profit. Accept assignment below $65 if comfortable owning shares for covered calls.

call credit spread

Sell $77.5/$80 call spread 4/17 (17 DTE)

Defined-risk bearish play against $80 call wall (14K OI). Short strike at $77.5 aligns with expected move upper bound ($76.36). Quick theta decay in 17 DTE.

Credit: $0.45-$0.60

Max loss: $2.05

BE: $78.05

Mgmt: Close at 75% profit. Exit if price closes above $77. Do not hold through earnings (5/06).

Risk Alerts

!Earnings 5/06 (~5 weeks out) — Close all short premium positions before announcement

!Trending GEX (-$33.5M) — Negative gamma means accelerated moves threaten credit spreads

!Bearish flow (net prem -$6.9M, P/C 1.21) — Institutional money positioning for downside

!Major put OI at $55/$60 creates potential gravity if broken — watch $70 support

!Unusual put activity at $73 (4/10 & 4/17) — suggests near-term resistance

!IV crush risk after earnings — avoid selling premium too close to 5/06

How to Use These Reports

This theta reflects the market close on March 31, 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.