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BKNG

Booking Holdings Inc. Common StClose $155.67EOD only
Max Pain
$157.50
Next expiry Nov 6, 2026
Expected Move
±$13.75
8.8% from close
Price Gap
+1.83
Distance to max pain
IV Rank
23
Low premium
P/C OI
0.89
Slightly call-heavy
Consensus
5.0/10
Bullish tilt
Published snapshot: Nov 3, 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
Nov 3, 2026 close
BKNG Theta Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 16, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short put spreads
Invalidation: Break below $170 or VIX >20
Confidence:
5.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 3.4% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
IV (59.9%) >> VIX (16.4), rich premium
Favorable?
Yes

Term structure: Front spike 54% 2d, dip to 38% 1-3w, long ~45%

📊Front-end IV elevated; favorable short theta decay

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+28.5M)

Gamma flip: ~$172.00 — Approx — based on put OI concentration of 10,446 (2.1% below spot)

OI concentrations: Put OI $170 (10.4k), $165; call wall $232-240

Verdict: High pin risk: spot near $176, max pain $170-165, gamma flip $172

Premium Opportunities

#1
Put credit spread
Sell 2026-07-24 $175.00/$170.00 put spread
Sell $175/$170 put spread to collect premium with defined risk.
Credit: $2.25-$2.75
Max loss: $2.25
BE: $172.25
Mgmt: Close at 50% profit or if spot breaks $175. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Volume below 5. Substitutions: short_put: resolved contract 2026-07-24 $174.00 missing; used 2026-07-24 $175.00.; long_put: resolved contract 2026-07-24 $172.00 missing; used 2026-07-24 $170.00.

Risk Alerts

!Short-dated IV gap risk
!Flow mixed, net premium negative
!Spot 3.4% above max pain
How to Use These Reports
This theta reflects the market close on June 16, 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.