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GLW

Corning IncorporatedClose $180.69EOD only

Max Pain

$182.50

Next expiry May 22, 2026

Expected Move

±$10.38

5.7% from close

Price Gap

+1.81

Distance to max pain

IV Rank

Low premium

P/C OI

0.73

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 20, 2026 close

End-of-day snapshot

This page reflects GLW options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 20, 2026 close

GLW Flow Report

Analysis based on market close March 31, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 strong bullish flow/net premium; +1 GEX pinning supportive; -0.5 high IV regime suggests caution

Watch next session: $144C 4/2 print follow-through; Defensive put flow near $120-$130

Flow Summary

Net premium: +$19.3M bullish

P/C volume ratio: 0.46 — extremely call-dominant

P/C OI ratio: 0.68 — moderate call lean

Extreme call dominance in volume with strong bullish net premium. Flow is aggressively betting on upside, though positioning shows a more balanced OI structure. The high IV regime suggests these are high-conviction, high-cost bets.

Notable Prints

GLW 4/2 $144 Call

Vol: 596

OI: 125

Vol/OI: 4.8x

IV: 59.0%

Notional: ~$1.4M (est. from premium flow data)

Intent: Fresh directional call buying for immediate upside

Dual read: Bought to open (bullish breakout bet) or part of a spread (bull call spread)

Read-through: Targets a move above $144 (~6% upside) within 2 days. High volume vs. OI indicates new positioning, not rolling.

GLW 1/15/27 $165 Call

Vol: 434

OI: 208

Vol/OI: 2.1x

IV: 65.5%

Notional: ~$1.2M (est. from premium flow data)

Intent: Long-dated directional call buying

Dual read: LEAP purchase for strategic long-term bullish view

Read-through: Targets ~21% upside over 290 days. This is a high-conviction, capital-intensive bet, not a short-term trade.

Institutional Positioning

Call additions: Aggressive call buying across $140-$170 strikes, concentrated in near-term ($144C 4/2) and LEAPS ($165C 1/27).

Put additions: Minimal notable put flow. Defensive positioning appears static in OI at $120-$135 puts.

GEX/DEX consistency: Yes — Positive GEX (+$6.6M) aligns with bullish flow, creating a pinning/mean-reverting force near spot.

OI clusters: Call walls: $150 (6.9K OI), $140 (4.1K OI). Put walls: $120 (9.8K OI combined), $135 (4.2K OI). Creates a likely range between $120 (strong support) and $150 (resistance).

Hedging evidence: Limited fresh hedging seen in flow. Large existing OI at $120 puts may represent longer-term portfolio protection.

Max pain context: Spot ($135.97) is below nearest max pain ($138). Falling MP trend suggests OI is building at lower strikes over time, but current flow is fighting that trend.

Signal vs Noise

~High volume in $190C (5,307) is notable in Top OI but absent from Unusual Activity, suggesting it may be older, rolled, or spread-related positioning, not fresh directional.

~The $87.50 call shows high net premium but is deep OTM (~36% below spot). This is likely a cheap, speculative lottery ticket or part of a complex multi-leg structure, not a pure directional signal.

Key Conclusions

🚀Flow is aggressively bullish: extreme P/C ratio (0.46) & +$19.3M net premium

📌Positive GEX (+$6.6M) supports pinning/mean reversion near current spot

🧱Key OI levels define battle lines: $120 put wall (support) vs. $150 call wall (resistance)

⚠️High IV (~72%) means options are expensive; flow represents high-conviction bets

How to Use These Reports

This flow reflects the market close on March 31, 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.