thetaOwl
HomeOptionsWULFReports

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 Theta Report
Analysis based on market close June 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Conservative
Primary: Sell call credit spreads at $30-$31 resistance
Invalidation: Spot closes above $30 or below $24 on increased volume
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

IV Environment

IV Regime
High
IV vs VIX
IV ~110% is extremely high vs VIX 18.44, signaling rich premiums
Favorable?
Yes

Term structure: Steep backwardation near-term (1DTE ATM 73%) with extreme skew; longer-dated IV flattens ~93-98%

⚠️1DTE call/put skew extreme: 218%/523% IV, risk of squeeze
📉Call OI wall $30-$35 likely caps upside

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+163.9M)

OI concentrations: Max pain pins at $18, $26, $17; call OI wall $30-$35; no significant put OI within 30% below spot

Verdict: Moderate pin risk – spot near call wall, but low put OI reduces downside pin

Premium Opportunities

#1
Call credit spread
Sell 2026-07-24 $30.00/$32.00 call spread
Edge: selling expensive premium pre-earnings with limited upside risk.
Credit: $0.77-$0.95
Max loss: $1.05
BE: $30.95
Mgmt: Exit if spot approaches $30; adjust wings if needed. Liquidity warning: Liquidity constraints: long_call: Volume below 5.
#2
Iron condor
Sell 2026-07-24 $25.00/$23.00 put wing and $30.00/$32.00 call wing
Edge: benefits from high IV and pin action near call wall.
Credit: $1.19-$1.45
Max loss: $0.55
BE: 23.55 / 31.45
Mgmt: Monitor support/resistance breaches; close if spot moves near wings. Liquidity warning: Liquidity constraints: short_put: Wide spread (56%).; long_put: Wide spread (57%).; long_call: Volume below 5.

Risk Alerts

!Extreme 1DTE skew hints at directional squeeze risk
!Spot above max pain by ~$5, potential reversion
!Call wall could trigger gamma acceleration if breached
How to Use These Reports
This theta 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.