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WDC

Western Digital CorporationClose $675.39EOD only
Max Pain
$657.50
Next expiry Jun 26, 2026
Expected Move
±$32.17
4.8% from close
Price Gap
-17.89
Distance to max pain
IV Rank
22
Low premium
P/C OI
1.38
Slightly put-heavy
Consensus
4.0/10
Range bias
Published snapshot: Jun 25, 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 25, 2026 close
WDC Theta Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness3.5 / 10
Sizing: Conservative
Primary: Avoid directional premium selling
Invalidation: Break below 540 or above 671; sustained move past gamma flip at 500
Confidence:
3.5 / 10
base 5; -1 GEX/flow contradict; -1 spot 10.5% from MP; +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
106.7% vs VIX 18.4; put skew elevated
Favorable?
No

Term structure: Steep contango from 0DTE; front-month near 90%, flattening at 95-100%

⚠️Put OI concentration at 500 (14.7% below spot) adds pin risk

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-4.0M)

Gamma flip: ~$500.00 — Approx — based on put OI concentration of 2,935 (14.7% below spot)

OI concentrations: Put OI cluster at 500; call wall $700-$800

Verdict: Spot ~586 below max pain $655; elevated pin risk toward put concentration

Premium Opportunities

#1
PMCC / LEAPS diagonal
Buy 2026-12-18 $580.00 call + sell 2026-07-31 $600.00 call
Exploits IV skew: sell high IV front-month call, buy longer-duration LEAPS call with lower IV.
Debit: $83.50-$102.05
Max loss: $102.05
BE: Path-dependent
Mgmt: Roll short call near expiration if tested; manage max loss at $102. Liquidity warning: Liquidity constraints: long_call: Volume below 5.

Risk Alerts

!Negative dealer GEX (-4M) may amplify moves
!Put/call volume ratio 1.73 shows defensive bias
!Spot 10.5% below max pain; risk of pinning lower
How to Use These Reports
This theta reflects the market close on June 26, 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.