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BKNG

Booking Holdings Inc. Common StClose $161.06EOD only
Max Pain
$160.00
Next expiry May 29, 2026
Expected Move
±$7.22
4.5% from close
Price Gap
-1.06
Distance to max pain
IV Rank
16
Low premium
P/C OI
0.82
Slightly call-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: May 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
May 22, 2026 close
BKNG AI Consensus Report
Analysis based on market close April 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 9, 2026. A newer ai consensus report is available for May 22, 2026.

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Conviction
5.5

out of 10

5.5 because dealer gamma and observed pinning give a clear short-term structural bias, but conviction is capped by significant contradictory signals: heavy net premium buying (institutional protection), elevated front-week IV, and the imminent expiry window that can flip gamma quickly — any of which could turn a low-volatility pin into a sharp directional move.

Where Perspectives Agree

Market is pinned toward the mid-$170s (roughly $176) by dealer gamma and short-dated positioning, which makes defined-risk short-premium structures the path-of-least-resistance in the immediate term.

Where They Diverge

Institutional flow signals (net premium outflows/protection buys) and elevated front-week IV create a credible asymmetric risk of a volatility-fueled move that would invalidate the pin — this directly contradicts a pure short-premium/play-for-mean-reversion stance because the same positioning that pins can also amplify directional breaks. Additionally, earnings/term-structure keeps IV rich which supports buying protection even while gamma encourages pinning, so timing for selling premium is disputed.

Top Trade
via theta

Sell Apr 24 174/170 put spread and sell Apr 24 184/188 call spread (Iron Condor, collect credit ~mid-market) — defined-risk short-premium into the pin; expected credit vs max-risk per standard width.

Key Risk

A decisive break and daily close below $170 — triggered by sustained institutional selling or an earnings/vol spike — would flip dealer gamma, remove the pin, and accelerate downside toward the $165 support band, invalidating the short-premium thesis.

How to Use These Reports
This ai consensus reflects the market close on April 9, 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.