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BKNG

Booking Holdings Inc. Common StClose $163.99EOD only
Max Pain
$167.50
Next expiry Jun 12, 2026
Expected Move
±$5.85
3.6% from close
Price Gap
+3.51
Distance to max pain
IV Rank
23
Low premium
P/C OI
0.84
Slightly call-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 9, 2026 close
End-of-day snapshot

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

Published Snapshot
Jun 9, 2026 close
BKNG Earnings Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

BKNG earnings are 50 days out with 100% beat rate and elevated IV. High call activity suggests bullish positioning, but spot is below max pain. Verdict: cautious optimism.

Confidence:
5.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 VIX 20
Most important: High IV and 100% beat rate, but spot below max pain and gamma flip near $140.
🛡️Put floor at $140 (5,251 OI) provides downside support.
⚠️Spot below max pain ($168-$170) suggests short-term bearish gamma pressure.
📈100% beat rate and consistent upside surprises favor bulls.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$140.00 — Approx — based on put OI concentration of 5,251 (14.6% below spot)

Earnings Overview

Next earnings: 2026-07-29 (50 days)explicit

Expected moves:

  • 2026-06-12 (3d): ±$5.85 (3.6%)
  • 2026-06-18 (9d): ±$9.80 (6.0%)
  • 2026-06-26 (17d): ±$12.85 (7.8%)

IV Setup

Term structure: Steep contango: 3d ±3.6%, 9d ±6.0%, 17d ±7.8%.

Crush estimate: Moderate crush post-earnings, but 50 days out; implied moves are high.

Skew: Call heavy OI with put floor at $140; skew favors calls.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: 100% beat rate (5/5); moves often exceed implied volatility.

Directional bias: Slight bullish due to strong fundamentals and call flow.

Key Levels

1$140.00 gamma flip
2EM guardrails: 2d $158.14/$169.84; 1w $154.19/$173.79
3Max pain pins: $168 (2026-06-12); $170 (2026-06-18); $170 (2026-06-26)

Flow Highlights

Large buy of 532 Jun26 $175 calls (vol/OI 3.3x) and 706 Mar27 $154.8 calls (vol/OI 2.6x).

Bullish positioning; traders expect upside.

Put buying at $165 (Jun26, 192 contracts) and call wall at $225+.

Protective puts near support; call resistance far above.

Strategies

Call Calendar on BKNG
Sell 2026-06-18 $165.00 call / buy 2026-07-17 $165.00 call
Debit: $3.55-$4.34
Max loss: $4.34
Max gain: Variable
BE: Path-dependent
Trigger: Exit if stock drops below $151 support; roll or close at 50% max gain. Liquidity warning: Liquidity constraints: short_call: Volume below 5.
Only eligible candidate; captures elevated IV term structure with bullish bias and 100% beat rate.
Outperforms: Sell near-term $165 call, buy later expiry; profits from IV contraction if stock trades sideways to slightly up.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Gamma flip risk near $140 from put OI concentration.
!High VIX (19.87) may amplify post-earnings moves.
!Event is 50 days out; long-dated options have high time decay.

What to Watch

?Support at $151.14, resistance at $167.5-$170.
?Gamma flip level $140; put OI concentration.
?Call OI wall at $232-$240 as resistance.
How to Use These Reports
This earnings reflects the market close on June 9, 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.