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BKNG

Booking Holdings Inc. Common StClose $164.94EOD only

Max Pain

$170.00

Next expiry Jun 18, 2026

Expected Move

±$6.40

3.9% from close

Price Gap

+5.06

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.83

Slightly call-heavy

Consensus

6.0/10

Bullish tilt

Published snapshot: Jun 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

Jun 12, 2026 close

BKNG Flow Report

Analysis based on market close June 12, 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; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.0% from MP; +1 VIX 18

Watch next session: $225

Flow Summary

Net premium: -$20.6M bearish

P/C volume ratio: 0.86

P/C OI ratio: 0.83

Net premium slightly negative with balanced put/call ratios. Unusual prints show near-term put buying at $222 and long-dated calls, reflecting mixed sentiment. Positive GEX and spot near max pain suggest pinning action. Confidence base 7, in line with mixed regime.

Notable Prints

BKNG 2026-06-18 $222.00 Put

Vol: 550

OI: 200

Vol/OI: 2.8x

IV: 136.3%

Notional: ~$3.0M

Intent: Bearish hedge

Dual read: Buy for protection

Read-through: Downside demand

BKNG 2027-03-19 $154.80 Call

Vol: 706

OI: 276

Vol/OI: 2.6x

IV: 60.6%

Notional: ~$1.8M

Intent: Bullish speculation

Dual read: Part of spread

Read-through: Extreme upside bet

BKNG 2026-06-12 $225.00 Call

Vol: 251

OI: 100

Vol/OI: 2.5x

IV: 221.9%

Notional: ~$2K

Intent: Short-term directional

Dual read: Closing position

Read-through: Minor intraday

BKNG 2026-06-18 $216.00 Put

Vol: 250

OI: 100

Vol/OI: 2.5x

IV: 126.8%

Notional: ~$1.3M

Intent: Bearish protection

Dual read: Hedge roll

Read-through: Further downside

BKNG 2027-03-19 $164.00 Call

Vol: 156

OI: 100

Vol/OI: 1.6x

IV: 47.6%

Notional: ~$376K

Intent: Bullish speculation

Dual read: Sold for credit

Read-through: Long-term call skew

Institutional Positioning

Call additions: 706 $154.80 calls (Jan '27) and 251 $225 weekly calls.

Put additions: 550 $222 puts (6/18), 250 $216 puts (6/18), 150 $224 puts (7/17).

GEX/DEX consistency: Positive GEX ($13.7M) and DEX (+20.3M shares) align with pinning.

OI clusters: Largest OI: $222 put (5,274, 15.1% below spot) and $154.80 call (276 OI).

Hedging evidence: Put buying suggests downside hedge; long-dated calls show bullish bets.

Max pain context: Spot at max pain; gamma flip at $140 implies risk below.

Signal vs Noise

~Signal: large put volume at $222 (unusual OI/vol).

~Noise: weekly $225 call (expiring worthless).

~Signal: long-dated call accumulation (institutional).

~Noise: high IV in short-term options (volatility skew).

Key Conclusions

🛡️Hedging via puts but long-dated calls indicate bullish skew; neutral.

📌Gamma pinning near max pain likely keeps spot range-bound.

⚠️Gamma flip at $140 warns of downside acceleration if broken.

How to Use These Reports

This flow reflects the market close on June 12, 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.