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BKNG

Booking Holdings Inc. Common StClose $184.56EOD only

Max Pain

$173.40

Next expiry Apr 17, 2026

Expected Move

±$3.42

1.9% from close

Price Gap

-11.16

Distance to max pain

IV Rank

High premium

P/C OI

0.75

Slightly call-heavy

Consensus

5.0/10

Range bias

Published snapshot: Apr 16, 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

Apr 16, 2026 close

BKNG Flow Report

Analysis based on market close April 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 10.5% from MP; +1 VIX 17

Watch next session: Monitor near-term call activity and OI changes; Watch price approach gamma flip ~176 and volume at flips; Track net premium flow and IV drift

Flow Summary

Net premium: -$31.7M bearish

P/C volume ratio: 0.87

P/C OI ratio: 0.75

Call-heavy prints, +$35.7M GEX and DEX buying point to a bullish pinning bias, but elevated IV, large negative net premium and spot distance from midpoint temper conviction.

Notable Prints

BKNG 2026-04-17 $169.40 Call

Vol: 168

OI: 100

Vol/OI: 1.7x

IV: 248.4%

Notional: ~$365K

Intent: Short‑dated bullish/speculative buy to open pushing immediate upside

Dual read: Could be dealer gamma hedge or expiration pinning trade vs directional long

Read-through: Increases upside pinning pressure into EOD near 169; heightened short‑term gamma risk

BKNG 2026-05-08 $174.80 Call

Vol: 150

OI: 100

Vol/OI: 1.5x

IV: 76.5%

Notional: ~$244K

Intent: Near‑term bullish directional position or roll from nearer strikes

Dual read: Could be covered call activity or protective replacement vs new long call

Read-through: Adds near‑term upside skew into early May; supports bullish positioning

Institutional Positioning

Call additions: Front‑month/near‑term calls concentrated at $169–$175 strikes (unusual prints) consistent with flow desk/institutional activity but mixed overall.

Put additions: Puts concentrated near gamma flip (~$176 and below) with ~10,993 put OI cluster.

GEX/DEX consistency: Positive GEX (+$35.7M) and DEX buy (+22.4M shares) align with call flow signs but other reads are mixed/noisy.

OI clusters: Largest OI: puts ~10.9k (~8% below spot); call OI bumps at 169.4 and 174.8.

Hedging evidence: Negative net premium ~‑$31.7M and elevated put OI point toward hedging/collar activity by dealers/flow desks, though attribution is uncertain.

Max pain context: Spot ~10.5% above max pain; pinning regime increases chance of mean reversion toward MP.

Signal vs Noise

~Signal: large front‑month call prints at 169–175 strikes.

~Signal: positive GEX and DEX buying supports call-centric flow.

~Noise: one erratic high‑IV block (248%) inflates importance of that print.

~Noise: mixed flow, hedging signs and spot above MP reduce directional confidence.

Key Conclusions

🔎Flow consistent with dealer/flow‑desk hedging or collars rather than clear directional institutional buy conviction; signals remain mixed.

⚠️Pinning plus spot above max pain raises reversion risk toward MP; proceed with caution given noisy prints.

Read the Flow analysis for BKNG for 2026-04-17. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.