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GOOG

Alphabet Inc.Close $371.10EOD only
Max Pain
$335.00
Next expiry Jun 18, 2026
Expected Move
±$7.47
2.0% from close
Price Gap
-36.10
Distance to max pain
IV Rank
67
High premium
P/C OI
0.84
Slightly call-heavy
Consensus
7.5/10
Bullish tilt
Published snapshot: Jun 16, 2026 close
End-of-day snapshot

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

Published Snapshot
Jun 16, 2026 close
GOOG Earnings Report
Analysis based on market close June 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

GOOG earnings 36 days out; IV elevated with upward term structure. Flow mixed with notable put/call activity. Historical 100% beat rate supports bullish lean, but broad market weakness adds caution.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.1% from MP; +0.5 VIX 18
Most important: Heavy put buying at 362.5 0DTE and call buying at 362.5 9DTE create a mixed signal; watch gamma flip at 330.
⚠️362.5 put vol 8.1x OI signals aggressive hedging.
📈362.5 call vol 4.7x OI suggests rebound expectation.
🔒Gamma flip at 330 based on put OI concentration.
📊Historical 100% beat rate but small sample (5 quarters).

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$330.00 — Approx — based on put OI concentration of 26,138 (8.9% below spot)

Earnings Overview

Next earnings: 2026-07-23 (36 days)explicit

Expected moves:

  • 2026-06-18 (1d): ±$5.65 (1.6%)
  • 2026-06-26 (9d): ±$14.17 (3.9%)
  • 2026-07-02 (15d): ±$18.45 (5.1%)

IV Setup

Term structure: Upward sloping; near-term elevated ahead of Q2 earnings.

Crush estimate: Moderate post-earnings crush after July 23.

Skew: Put skew elevated; downside protection active.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Moves historically within guided ranges.

Directional bias: Slightly bullish given 100% beat rate.

Key Levels

1$330.00 gamma flip
2EM guardrails: 2d $356.45/$367.75; 1w $347.93/$376.28
3Max pain pins: $335 (2026-06-18); $365 (2026-06-26); $370 (2026-07-02)

Flow Highlights

Unusual put volume at 362.5 0DTE (8.1x OI) and call at 362.5 9DTE (4.7x OI).

Mixed: puts hedge downside, calls bet on near-term bounce.

large call buying at 367.5 0DTE and put at 357.5 0DTE.

Pin action around 362.5; dealers delta-hedging.

Strategies

Pre-Earnings Short Strangle
Sell 2026-07-17 $340.00 put + sell $385.00 call
Credit: $8.51-$10.40
Max loss: Unlimited
Max gain: $10.40
BE: 329.60 / 395.40
Trigger: Close if underlying breaks $340 or $385; roll wings if tested.
Elevated IV, 100% beat rate, mixed flow suggest limited move; profit from IV contraction.
Outperforms: Sell OTM put and call to collect premium from IV crush before earnings.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Call Calendar
Sell 2026-06-26 $380.00 call / buy 2026-07-24 $380.00 call
Debit: $6.25-$7.64
Max loss: $7.64
Max gain: Variable
BE: Path-dependent
Trigger: Exit if near-term leg loses edge; adjust strikes on large moves.
Upward term structure allows selling near-term IV while buying longer-dated.
Outperforms: Profits from IV skew and time decay differential with slight bullish bias.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Post-Earnings Iron Condor
Sell 2026-07-24 $350.00/$340.00 put wing and $380.00/$385.00 call wing
Credit: $3.89-$4.76
Max loss: $5.24
Max gain: $4.76
BE: 345.24 / 384.76
Trigger: Enter after IV crush; defend if breach of wings.
Moderate crush expected, historical range adherence.
Outperforms: Collects premium from defined range after earnings.
Underperforms: Move outside short strikes invalidates range thesis.
Long straddle
Buy 2026-07-24 $365.00 put + buy $365.00 call
Debit: $27.13-$33.16
Max loss: $33.16
Max gain: Unlimited
BE: 331.84 / 398.16
Upward IV term structure and mixed flow suggest large move; straddle benefits from IV expansion and directional move.
Outperforms: Capture post-earnings volatility with at-the-money long straddle.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Earnings miss despite perfect beat record.
!Broad market weakness could pressure tech.
!Gamma flip at 330 if downside accelerates.
!Time decay in elevated IV.

What to Watch

?362.5 strike for pinning and gamma.
?VIX trend and macro data.
?Accumulation at 330 put support.
?Call OI at 400-415 for resistance.
How to Use These Reports
This earnings reflects the market close on June 17, 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.