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BKNG

Booking Holdings Inc. Common StClose $184.56EOD only

Max Pain

$175.00

Next expiry Jul 10, 2026

Expected Move

±$7.85

4.3% from close

Price Gap

-9.56

Distance to max pain

IV Rank

Low premium

P/C OI

0.90

Balanced positioning

Consensus

5.0/10

Bullish tilt

Published snapshot: Jul 2, 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

Jul 2, 2026 close

BKNG Theta Report

Analysis based on market close June 29, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Theta Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 5.7% from MP; +1 VIX 18

IV Environment

IV Regime

High

IV vs VIX

Avg IV 59.5% vs VIX 17.6, elevated

Favorable?

Yes

Term structure: Front-end spike (3d IV 69%), likely event risk; contango flattening

📈High IV favorable but pin risk caution

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+8.1M)

Gamma flip: ~$176.00 — Approx — based on put OI concentration of 10,818 (3.5% below spot)

OI concentrations: Max pain $172, $175, $160; gamma flip $176 (~3.5% below spot $182)

Verdict: Moderate: spot above pins but gamma flip near support

Premium Opportunities

Cash-secured put

Sell 2026-09-18 $180.00 cash-secured put

Sell put at 180 to collect elevated premium; if assigned, acquire shares at effective lower cost.

Credit: $11.12-$13.59

Max loss: $166.41

BE: $166.41

Mgmt: Close if spot breaches 176; roll down if IV expands.

Risk Alerts

!Front-end IV spike suggests event risk

!Spot far from max pain but close to gamma flip

How to Use These Reports

This theta reflects the market close on June 29, 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.