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BKNG

Booking Holdings Inc. Common StClose $181.46EOD only
Max Pain
$170.00
Next expiry Jul 2, 2026
Expected Move
±$3.55
2.0% from close
Price Gap
-11.46
Distance to max pain
IV Rank
15
Low premium
P/C OI
0.96
Balanced positioning
Consensus
5.0/10
Bullish tilt
Published snapshot: Jun 26, 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
Jun 26, 2026 close
BKNG Theta Report
Analysis based on market close June 29, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Premium selling
Invalidation: Spot below $176 gamma flip
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

#1
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.