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BKNG

Booking Holdings Inc. Common StClose $167.21EOD only

Max Pain

$165.00

Next expiry Jun 5, 2026

Expected Move

±$7.05

4.2% from close

Price Gap

-2.21

Distance to max pain

IV Rank

Low premium

P/C OI

0.84

Slightly call-heavy

Consensus

5.5/10

Range bias

Published snapshot: Jun 2, 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 2, 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.

You are viewing an older report from April 17, 2026. A newer flow report is available for May 26, 2026.

View latest report

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.

How to Use These Reports

This flow reflects the market close on April 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.