Home Options BKNGReports

BKNG

Booking Holdings Inc. Common StClose $160.56EOD only

Max Pain

$176.00

Next expiry May 15, 2026

Expected Move

±$2.80

1.7% from close

Price Gap

+15.44

Distance to max pain

IV Rank

Low premium

P/C OI

0.85

Slightly call-heavy

Consensus

6.0/10

Range bias

Published snapshot: May 12, 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

May 12, 2026 close

BKNG Flow Report

Analysis based on market close May 13, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 11.4% from MP; +1 VIX 18

Watch next session: Monitor put persistence, OTM call sweep activity

Flow Summary

Net premium: -$71.4M bearish

P/C volume ratio: 1.81

P/C OI ratio: 0.85

Aggressive put buying dominated, reinforcing bearish flow. Spot remains below gamma flip. A speculative OTM call sweep did not shift bias.

Notable Prints

BKNG 2026-05-29 $235.00 Call

Vol: 457

OI: 115

Vol/OI: 4.0x

IV: 124.8%

Notional: ~$9K

Intent: Speculative long call on massive rally

Dual read: Could be short volatility sale

Read-through: Low probability, high reward gamble

BKNG 2027-01-15 $145.00 Put

Vol: 268

OI: 164

Vol/OI: 1.6x

IV: 40.6%

Notional: ~$348K

Intent: Bearish hedge or directional put

Dual read: Possible put sale by neutral trader

Read-through: Expects downside or hedging

Institutional Positioning

Call additions: Limited; 235C May29 speculative.

Put additions: Unusual 145P Jan27 put added (268 vol, 164 OI).

GEX/DEX consistency: Yes: negative GEX and bearish flow; positive DEX from put hedging.

OI clusters: Put OI ~4,348 contracts 0.7% below spot.

Hedging evidence: Long-dated put (145P Jan27) and gamma flip near spot.

Max pain context: Spot 11.4% below MP; no pin.

Signal vs Noise

~Signal: bearish put/call vol ratio 1.81, negative GEX, large put OI concentration near spot.

~Noise: 235C call print (low OI), general market rally.

Key Conclusions

📉Institutions adding long-dated puts, bearish bias confirmed by 1.81 put/call vol ratio.

⚠️Spot 11.4% below max pain; hedging evident with gamma flip near current level.

How to Use These Reports

This flow reflects the market close on May 13, 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.