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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

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 Theta Report

Analysis based on market close May 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

7 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.2% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

Avg IV 59.6% vs VIX 16.8, elevated

Favorable?

Yes

Term structure: Near-term IV backwardation; 1d 49%, 1w 40%, then contango to 43-46%

📌Max pain $160; GEX +$9M supports pin

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+9.0M)

Gamma flip: ~$140.00 — Approx — based on put OI concentration of 5,314 (12.3% below spot)

OI concentrations: Max pain $160; put OI heavy at $140; call wall $170-$232

Verdict: Pinning likely at $160, gamma flip risk at $140

Premium Opportunities

Put credit spread

Sell 2026-07-17 $160.00/$158.00 put spread

Sell 160/158 put spread to capture elevated IV with limited risk.

Credit: $1.08-$1.32

Max loss: $0.68

BE: $158.68

Mgmt: Take profit at 50% max gain; stop loss if price breaks $154. Liquidity warning: Liquidity constraints: long_put: Volume below 5.

Risk Alerts

!High IV may expand further

!Gamma flip at $140 if spot drifts

How to Use These Reports

This theta reflects the market close on May 21, 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.