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BKNG

Booking Holdings Inc. Common StClose $171.78EOD only

Max Pain

$170.00

Next expiry Jun 26, 2026

Expected Move

±$7.60

4.4% from close

Price Gap

-1.78

Distance to max pain

IV Rank

High premium

P/C OI

0.82

Slightly call-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

BKNG Flow Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.0% from MP; +1 VIX 16

Flow Summary

Net premium: -$20.6M bearish

P/C volume ratio: 0.79

P/C OI ratio: 0.82

High volatility with mixed flow. Positive gamma pinning near $170 while net premium negative. Unusual put activity at $198 and $186 suggests short-term bearish hedging, but long-dated calls at $154.8 and $164 indicate bullish positioning. Spot above max pain.

Notable Prints

BKNG 2026-06-18 $198.00 Put

Vol: 486

OI: 175

Vol/OI: 2.8x

IV: 128.9%

Notional: ~$1.2M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

BKNG 2026-07-17 $135.00 Put

Vol: 344

OI: 126

Vol/OI: 2.7x

IV: 55.8%

Notional: ~$7K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

BKNG 2027-03-19 $154.80 Call

Vol: 706

OI: 276

Vol/OI: 2.6x

IV: 51.6%

Notional: ~$1.8M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

BKNG 2026-07-17 $224.00 Put

Vol: 200

OI: 100

Vol/OI: 2.0x

IV: 118.9%

Notional: ~$989K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

BKNG 2026-07-10 $175.00 Call

Vol: 248

OI: 145

Vol/OI: 1.7x

IV: 39.7%

Notional: ~$129K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Long-dated calls (2027 Mar $154.80/$164) and near-term $175

Put additions: Heavy puts across expirations: June 18 $198/$186, July 17 $135/$224/$172

GEX/DEX consistency: Positive GEX ($19.4M) and DEX (+22.4M shares) consistent with pinning

OI clusters: Put OI cluster at $170 (gamma flip); call OI clusters at $154.80/$164/$175

Hedging evidence: Put hedging vs long stock/calls; gamma flip at $170 suggests dealer hedging

Max pain context: Spot above MP; GEX pinning may pull price toward MP

Signal vs Noise

~Unusual put prints with vol/OI >2 signal smart money hedging

~Net premium negative but GEX positive; focus on OI concentrations

Key Conclusions

🛡️Institutions adding puts for hedging; net bearish flow

📌Positive gamma pinning suggests price may stay near MP

How to Use These Reports

This flow reflects the market close on June 18, 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.