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WDC

Western Digital CorporationClose $746.23EOD only
Max Pain
$580.00
Next expiry Jun 26, 2026
Expected Move
±$42.75
5.7% from close
Price Gap
-166.23
Distance to max pain
IV Rank
100
High premium
P/C OI
1.38
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 18, 2026 close
End-of-day snapshot

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

Published Snapshot
Jun 18, 2026 close
WDC 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

Attractiveness6 / 10
Sizing: Moderate
Primary: Bear put spreads
Invalidation: Break below 691 support or VIX >20
Confidence:
6 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 62.2% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
IV 124% vs VIX 16.4 - extreme premium
Favorable?
No

Term structure: Front-end IV extreme; backwardated to 8d then flat; put skew elevated

⚠️0dte put IV 659% vs call 427% - extreme skew

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+10.0M)

OI concentrations: Max pain $460 (today), $580, $600. Call wall $800, put floor $400-500. No strong put OI near spot.

Verdict: Low pin risk near spot but call wall at $800 may create resistance

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $670.00/$590.00 put spread
Sell $670/$590 put spread, bullish on support
Credit: $22.00-$26.90
Max loss: $53.10
BE: $643.10
Mgmt: Close at 50% profit or if spot breaks 691
#2
Iron condor
Sell 2026-07-10 $680.00/$635.00 put wing and $900.00/$950.00 call wing
Sell 680/635 put and 900/950 call wings
Credit: $20.07-$24.53
Max loss: $25.47
BE: 655.47 / 924.53
Mgmt: Manage if spot approaches wings Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; short_call: Open interest below 25.; long_call: Open interest below 25.
#3
Call calendar
Sell 2026-08-21 $750.00 call / buy 2026-09-18 $750.00 call
Sell Aug $750 call, buy Sep $750 call
Debit: $21.35-$26.10
Max loss: $26.10
BE: Path-dependent
Mgmt: Monitor IV; close early if unfavorable

Risk Alerts

!Extreme front-month skew
!Spot near resistance $800
!High IV may amplify moves
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.