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WULF

TeraWulf Inc.Close $27.86EOD only
Max Pain
$18.00
Next expiry Jun 18, 2026
Expected Move
±$1.21
4.4% from close
Price Gap
-9.86
Distance to max pain
IV Rank
100
High premium
P/C OI
0.37
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 17, 2026 close
End-of-day snapshot

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

Published Snapshot
Jun 17, 2026 close
WULF Earnings Report
Analysis based on market close June 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Earnings in 50 days; low beat rate (40%) but high IV skew; aggressive put flow suggests downside hedging.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 54.8% from MP; +0.5 VIX 18
Most important: Massive put buying at $23 and $27 strikes; spot well above max pain; expect volatility.
📉Massive 50k vol on $23 put; 31x OI
⚠️Spot 54.8% above MP; high reversion risk

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above

Earnings Overview

Next earnings: 2026-08-06 (50 days)explicit

Expected moves:

  • 2026-06-18 (1d): ±$1.21 (4.4%)
  • 2026-06-26 (9d): ±$3.19 (11.5%)
  • 2026-07-02 (15d): ±$4.27 (15.3%)

IV Setup

Term structure: Steep: near-term IV ~70%, back-end Sep ~95%.

Crush estimate: Modest post-event crush ~5-10% given long duration.

Skew: Put skew elevated; 23P volume 31x OI.

Historical Context

Beat rate: 40% (2/5 quarters)

Avg move vs expected: Avg move ~4.1% vs 6.0% implied; misses larger.

Directional bias: Mixed; 40% beat rate, moves often exceed implied on misses.

Key Levels

1EM guardrails: 2d $26.65/$29.08; 1w $24.67/$31.06
2Max pain pins: $18 (2026-06-18); $26 (2026-06-26); $17 (2026-07-02)

Flow Highlights

50k vol on $23 put vs 1.5k OI (31x); 25k vol on $27 put (2.9x).

Aggressive put buying signals downside hedging or bearish sentiment.

Strategies

Iron Condor
Sell 2026-07-10 $25.00/$23.00 put wing and $29.00/$32.00 call wing
Credit: $1.43-$1.75
Max loss: $1.25
Max gain: $1.75
BE: 23.25 / 30.75
Trigger: Close at 50% max profit or before earnings if IV collapses.
Steep term structure, high near-term IV, defined support/resistance, and heavy put flow suggest range-bound. Captures theta decay with limited risk.
Outperforms: Sells put and call wings to profit from price staying within $25-$29 near earnings.
Underperforms: Move outside short strikes invalidates range thesis.
Long Strangle
Buy 2026-08-21 $23.00 put + buy $30.00 call
Debit: $5.24-$6.41
Max loss: $6.41
Max gain: Unlimited
BE: 16.59 / 36.41
Trigger: Sell half on 100% gain; trail stop loss on remaining.
High IV skew, heavy put OI at $23 and call wall at $30; earnings moves often exceed implied on misses. Suitable for directional uncertainty.
Outperforms: Buys OTM put and call to profit from large price swing in either direction.
Underperforms: Insufficient realized move reduces long-strangle edge.
Bull Call Spread
Buy 2026-08-21 $28.00/$30.00 call spread
Debit: $0.61-$0.74
Max loss: $0.74
Max gain: $1.26
BE: $28.74
Trigger: Exit if spot breaks below $23.60 support; take profit near $30.
Spot above max pain, call OI wall at $30 defines upside; defined risk suits mixed bias. Alternative to naked calls.
Outperforms: Buys $28 call, sells $30 call to profit from moderate upside.
Underperforms: Loss of support weakens upside continuation thesis.
Short strangle
Sell 2026-06-26 $23.00 put + sell $32.00 call
Credit: $0.47-$0.57
Max loss: Unlimited
Max gain: $0.57
BE: 22.43 / 32.57
High near-term IV (~87%) and defined support/resistance make strangle attractive with 9 DTE theta decay.
Outperforms: Sell high IV premium on far OTM strikes that align with heavy put support and call resistance, profit if spot stays between $23 and $32.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Spot 54.8% above max pain ($18); pinning unlikely.
!Heavy put OI below spot could support on pullback.
!Call OI wall $30-$35 may cap upside.

What to Watch

?Volume at $30 call wall; put wall $23.
?Spot vs 2d guardrail $26.65.
?Continued put volume for confirmation.
How to Use These Reports
This earnings reflects the market close on June 17, 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.