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WULF

TeraWulf Inc.Close $17.98EOD only
Max Pain
$19.50
Next expiry Jul 31, 2026
Expected Move
±$1.82
10.2% from close
Price Gap
+1.52
Distance to max pain
IV Rank
4
Low premium
P/C OI
0.36
Slightly call-heavy
Consensus
7.5/10
Bullish tilt
Published snapshot: Jul 27, 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
Jul 27, 2026 close
WULF Theta Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Conservative
Primary: Iron condors
Invalidation: Break below gamma flip level $23
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 52.5% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
Avg IV 118.7% vs VIX 16.4, extremely elevated
Favorable?
No

Term structure: 0 DTE IV spike (put 712%, call 396%); backwardated to 8d, then contango

⚠️0 DTE skew extreme, pinning risk high

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+169.2M)

Gamma flip: ~$23.00 — Approx — based on put OI concentration of 51,273 (20.6% below spot)

OI concentrations: Call wall $32-$35; put floor $23-$23; max pain pins $19, $26, $17

Verdict: Multiple pin levels near spot $30.67; high gamma risk

Premium Opportunities

#1
Iron condor
Sell 2026-07-17 $27.00/$24.00 put wing and $32.00/$34.00 call wing
Sell 2026-07-17 $27/$24 put & $32/$34 call; entry 1.39-1.70, max gain 1.70, loss 1.30
Credit: $1.39-$1.70
Max loss: $1.30
BE: 25.30 / 33.70
Mgmt: Invalidate if spot breaks gamma flip $23; avoid 0 DTE; adjust if pin risk materializes

Risk Alerts

!0 DTE options have extreme IV, avoid naked positions
!Spot above max pain $19 but near $26 pin; potential reversal
!Gamma flip at $23, break invalidates bullish thesis
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.