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BKNG

Booking Holdings Inc. Common StClose $159.68EOD only
Max Pain
$160.00
Next expiry May 22, 2026
Expected Move
±$3.27
2.0% from close
Price Gap
+0.32
Distance to max pain
IV Rank
13
Low premium
P/C OI
0.84
Slightly call-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: May 21, 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 21, 2026 close
BKNG AI Consensus Report
Analysis based on market close April 7, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 7, 2026. A newer ai consensus report is available for May 21, 2026.

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Conviction
5.5

out of 10

5.5 — the gamma pin and OI concentration provide a credible short-term anchor that supports selling premium, but conviction is limited by (1) elevated IV/opaque flow that can re-price quickly and (2) an imminent earnings window that could decisively invalidate the pin; these offset the positive signals enough to keep conviction moderate rather than high.

Where Perspectives Agree

Market is pinned into the ~$172 area by dealer gamma and concentrated OI, creating a short-term environment where defined‑risk premium selling captures carry while directional moves are suppressed; high IV makes those trades rich but keeps event risk elevated.

Where They Diverge

Earnings/flow perspectives introduce a true conflict: earnings-term structure and recent institutional flow suggest downside re-pricing post-event that would negate the pin, while theta and directional recommend selling premium into the pin now — one camp is betting the pin holds through/around earnings, the other expects a re-rate that would break it. Additionally, high IV and bearish net flow mean premium sellers face real tail risk that the directional thesis (immobilized spot) understates.

Top Trade
via theta

Sell 2026-04-17 $170/$164 put spread for credit (expected credit).

Key Risk

A decisive intraday break and close below $168.00 (sustained through market hours) removes dealer short‑gamma support, triggering stop cascades and downside acceleration toward $164/$160 — this single level invalidates the pin and collapses the premium-selling thesis.

How to Use These Reports
This ai consensus reflects the market close on April 7, 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.