thetaOwl

BKNG

Booking Holdings Inc. Common StClose $167.77EOD only
Max Pain
$170.00
Next expiry Jun 26, 2026
Expected Move
±$6.30
3.8% from close
Price Gap
+2.23
Distance to max pain
IV Rank
6
Low premium
P/C OI
0.99
Balanced positioning
Consensus
6.0/10
Consensus signal
Published snapshot: Jun 22, 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 22, 2026 close
BKNG Flow Report
Analysis based on market close June 23, 2026

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

Flow Verdict

BiasMixed
Confirmation: Sustained gamma pinning or negative net premium shift
Invalidation: Break below gamma flip or net premium intensifies negative
Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.6% from MP; +0.5 VIX 19

Watch next session: Net premium direction; Put/call volume ratio; Spot vs gamma flip

Flow Summary

Net premium: -$28.0M bearish

P/C volume ratio: 0.76

P/C OI ratio: 0.98

Mixed options flow with -$28M net premium and put/call volume ratio 0.76 indicates bearish positioning, but positive $1.8M GEX and near-MP spot suggest pinning. Unusual call activity on 7/17 210C and 3/19 155C shows speculative upside bets despite market selloff. High VIX adds uncertainty.

Notable Prints

#1
BKNG 2026-07-17 $210.00 Call
Vol: 2,568
OI: 276
Vol/OI: 9.3x
IV: 45.6%
Notional: ~$51K
Intent: Speculative call buying

Read-through: Bullish bet on large upside move near expiration.

#2
BKNG 2027-03-19 $154.80 Call
Vol: 706
OI: 276
Vol/OI: 2.6x
IV: 55.7%
Notional: ~$1.8M
Intent: Long-term bullish call accumulation

Read-through: Bullish on sustained growth.

#3
BKNG 2026-07-17 $224.00 Put
Vol: 200
OI: 100
Vol/OI: 2.0x
IV: 78.4%
Notional: ~$989K
Intent: Speculative put buying hedging downside

Read-through: Bearish bet expecting significant drop.

#4
BKNG 2027-03-19 $164.00 Call
Vol: 156
OI: 100
Vol/OI: 1.6x
IV: 48.8%
Notional: ~$376K
Intent: Bullish call buying

Read-through: Bullish outlook with long-dated ITM call.

Institutional Positioning

Call additions: Large buying at $210 (9.3x) and $154.80 (2.6x)

Put additions: Modest put at $224 (2.0x)

GEX/DEX consistency: Positive GEX ($1.8M) and DEX (+19.3M) consistent with pinning

OI clusters: Key put OI cluster $140 (5,244)

Hedging evidence: Minimal; small put at $224

Max pain context: Spot at MP; gamma flip $140

Signal vs Noise

~$210 call high vol/OI real buying
~Other prints low vol/OI likely noise
~Put activity minor

Key Conclusions

📈Large call buying at $210 and $154.80 suggests bullish bets
📍Gamma pinning near max pain supports range-bound price
How to Use These Reports
This flow reflects the market close on June 23, 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.