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GOOGL

Alphabet Inc.Close $387.35EOD only

Max Pain

$390.00

Next expiry May 13, 2026

Expected Move

±$5.01

1.3% from close

Price Gap

+2.65

Distance to max pain

IV Rank

High premium

P/C OI

0.92

Balanced positioning

Consensus

6.5/10

Bullish tilt

Published snapshot: May 12, 2026 close

End-of-day snapshot

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

Published Snapshot

May 12, 2026 close

GOOGL Directional Report

Analysis based on market close May 13, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias driven by strong dealer long gamma and bullish flow, but spot is 4.6% above Max Pain $385, suggesting near-term consolidation before further upside toward resistance $410-425.

Confidence:

8.5 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; -0.5 spot 4.6% from MP; +1 VIX 18. Net 8.5.

Supports: Bullish flow, positive GEX $250M, VIX 18, no gamma flip risk.
Conflicts: Spot 4.6% above MP, resistance at $410, max pain at $385.

📈Bullish flow and dealer long gamma support upside momentum.

📍Max Pain $385 acts as magnet, but spot is above, reducing pin tightness.

🧱Resistance $410 is key; break above opens path to $425.

Regime Classification

Vol Regime

Normal

Normal IV with VIX 17.87, no volatility expansion expected near-term.

Gamma Regime

Pinning

Positive GEX $250M, dealer long gamma pinning at $385 MP, no flip risk.

Flow Regime

Bullish

Bullish net premium flow, consistent with upside bias.

Spot vs Max Pain

Above

Spot above MP $385 by 4.6%, not tight pin but still supportive.

Thesis duration: Multi-week — Sustained bullish flow and dealer positioning suggest multi-week upside beyond near-term consolidation.

Price Range Forecast

Next 2 days

$394.39$410.84

Test resistance $410; break above extends.

Next 1 week

$392.24$412.99

Target $413, supported by dealer gamma and flow.

Next 2 weeks

$380.17$425.07

Upside to $425 if resistance cleared.

Key Levels

Max pain pins: $385 (2026-05-13); $332 (2026-05-15); $388 (2026-05-18)

EM guardrails: 2d $394.39/$410.84; 1w $392.24/$412.99

Support: $385.00 · $380.17

Resistance: $410.00 · $425.07

Structural: Max Pain $385 pin; support $380-385; resistance $410-425; EM guardrails 2d $394-411, 1w $392-413.

Dealer Positioning (GEX/DEX)

GEX: $+250.1M

DEX: +99.7M shares

Gamma flip: N/A

NTM gamma: Dealer long gamma $250M, DEX +99.7M shares, no gamma flip within 30% of spot.

IV Analysis

IV vs VIX: IV near VIX, normal; no premium or discount relative to volatility.

Term structure: Flat term structure with no event kinks in near-term expiries.

Skew: Put skew slightly elevated, but no actionable vol structure trade; wait for event.

Flow Analysis

Net premium: Net premium $375.6M positive, put/call volume ratio 0.42, strong call bias.

Directional prints: 23.5 call 397.5 ITM 2026-05-13 — Vol 18.4k vs OI 1.2k, 15.3x. Likely bought, bullish. 15.4 call 400 ITM 2026-05-13 — Vol 35.5k vs OI 3.6k, 9.9x. Heavy call buying, bullish.

Unusual: 6.1 put 400 OTM 2026-05-13 — Vol/OI ratio 132x (vol 16699, OI 126). Likely bought as lottery, bearish but low prob. 10.9 put 397.5 OTM 2026-05-13 — Vol/OI ratio 62.7x (vol 9465, OI 151). Similar pattern. 19.9 put 392.5 OTM 2026-05-13 — Vol/OI ratio 53.6x (vol 16290, OI 304). Unusual put activity.

Risks & Catalysts

!Spot pullback to MP $385 if bullish flow fades.

!Resistance $410 holds, leading to rangebound action.

!Macro or sector-wide sell-off alters dealer gamma profile.

!Earnings or catalysts not in current data could reverse flow.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-05-15 $402.50/$407.50 call spread Why now: Bullish flow and dealer long gamma support gradual rise; spread limits cost while targeting resistance.	Spot fails to reach 400 or pulls back to 385, resulting in max loss.
Put credit spread	Moderate	Sell 2026-05-15 $397.50/$392.50 put spread Why now: Put/call ratio low and bullish flow suggest limited downside; support at 385 is near, so selling puts below is attractive.	Sharp sell-off below 370 causes max loss; tail risk from macro event.
Bullish risk reversal	Moderate	Buy 2026-05-15 $405.00 call / sell 2026-05-15 $397.50 put Why now: Bullish bias with defined tail risk; call premium from flow supports upside, put sale at support funds the trade.	Spot below 380 at expiration results in assignment; near-term 385 risk zone.

Top Plays

Bull Call Spread

Buy 2026-05-15 $402.50/$407.50 call spread

Captures gradual rise with defined risk.

Why this play: Best aligns with bullish bias and dealer gamma support; limited cost targets $407.5 resistance.

Debit: $1.81-$2.22

Max loss: $2.22

BE: $404.72

Mgmt: Exit if spot drops below $385 or near resistance.

Conservative bulls seeking capped upside.

Put Credit Spread

Sell 2026-05-15 $397.50/$392.50 put spread

Sells puts at $397.5 with protection at $392.5 to profit from rangebound stability.

Why this play: Low put/call ratio and bullish flow limit downside; premium from selling puts near support.

Credit: $0.94-$1.15

Max loss: $3.85

BE: $396.35

Mgmt: Monitor $385 invalidation; consider rolling if breached.

Income-oriented traders expecting no major drop.

Bullish Risk Reversal

Buy 2026-05-15 $405.00 call / sell 2026-05-15 $397.50 put

Upside call funded by put sale at support, leveraging bullish flow.

Why this play: Highest upside but unlimited risk if spot drops; less suitable given consolidation risk.

Debit: $0.97-$1.18

Max loss: $397.50

BE: $397.50

Mgmt: Close immediately if spot falls below $385.

Aggressive traders with high conviction in rally.

Watchlist Triggers

Entry Triggers

IFGOOGL holds above $385 support with bullish flow and dealer long gamma. → Enter bull call spread: Buy 2026-05-15 $402.50/$407.50 call spread at ~$1.81-$2.22.

IFGOOGL stays above $385 and put/call ratio remains low. → Enter put credit spread: Sell 2026-05-15 $397.50/$392.50 put spread at ~$0.94-$1.15.

Adjustment Triggers

ADJGOOGL approaches resistance $410 with slowing momentum. → Take partial profits on bull call spread; consider rolling up.

Exit Triggers

EXITGOOGL drops below $385 invalidation level. → Close all bullish positions immediately.

Tactical Summary

Bullish bias: support $385, resistance $410-425. Use bull call spread (target $407.5) or put credit spread (income near support). Exit if $385 breaks. Adjust near $410.

How to Use These Reports

This directional reflects the market close on May 13, 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.