base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.2% from MP; +1 VIX 17; override: Base 5 +2 GEX/flow +1 pinning +1 near MP +1 VIX 17 -> 9
Term structure: Short-term IV backwardated; contango from 1w onward
Spot vs MP: At
GEX regime: Pinning ($+18.5M)
Gamma flip: ~$55.00 — Approx — based on put OI concentration of 94,186 (7.0% below spot)
OI concentrations: OI concentrated at $59 for 1d, 8d, 15d expirations; max pain at $59
#1Iron condor
Sell 2026-06-18 $57.50/$55.00 put wing and $62.50/$65.00 call wing
Short premium near max pain, benefiting from time decay and stable price.
Mgmt: Close at 50% max gain or if break below $57.5/above $60.
#2Call credit spread
Sell 2026-06-18 $60.00/$62.50 call spread
Sell call credit spread to capture bearish premium with invalidation at $60.
Mgmt: Exit if price breaks above $60 or at 50% max profit.
#3Call diagonal
Sell 2026-06-12 $62.50 call / buy 2026-07-17 $60.00 call
Sell near-term call, buy later-dated call to exploit front-month IV premium.
Mgmt: Monitor gamma risk; close if stock moves sharply toward strikes.