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GOOGL

Alphabet Inc.Close $387.66EOD only

Max Pain

$385.00

Next expiry May 22, 2026

Expected Move

±$5.24

1.4% from close

Price Gap

-2.66

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.92

Balanced positioning

Consensus

9.5/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

GOOGL Directional Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

GOOGL exhibits pinning dynamics near $385 with bullish flow and positive dealer gamma, favoring a modest drift toward $390 resistance over 1 week. High confidence due to alignment of GEX, flow, and spot vs MP.

Confidence:

9 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive; +1 spot 0.5% from MP; +1 VIX 17 → 9

Supports: Bullish flow, positive GEX, spot at MP, low VIX
Conflicts: Resistance at $390, potential vol crush, no catalyst

📈Bullish flow, P/C 0.55, net call premium positive

🎯Pinning at $385 with strong gamma, dealer support

⚠️$390 resistance and EM guardrail cap near-term upside

Regime Classification

Vol Regime

Normal

Vol normal, IV near 20d avg, no stress

Gamma Regime

Pinning

Strong positive gamma tilting toward pinning at $385, dealer hedging supports stability

Flow Regime

Bullish

Net call premium positive; P/C ratio <0.6, bullish

Spot vs Max Pain

Spot within 0.5% of max pain, reinforcing pinning

Thesis duration: Event-specific — Near expiry pinning, vol normal, bullish flow but capped by resistance

Price Range Forecast

Next 1 week

$375.17$390.77

Pinning near 385, resistance at 390.77 em guardrail

Next 2 weeks

$366.75$399.20

Breakout above 390 could target 399, support at 366.75

Key Levels

Max pain pins: $385 (2026-05-22); $388 (2026-05-26); $390 (2026-05-27)

EM guardrails: 1w $375.17/$390.77

Support: $366.75

Resistance: $385.00 · $399.20 · $400.00

Structural: Max Pain pins: $385 (May22), $388 (May26), $390 (May27). EM guardrails: 1w $375.17/$390.77. Support $366.75, resistance $385, $399.2, $400. No gamma flip.

Dealer Positioning (GEX/DEX)

GEX: $+16.1M

DEX: +77.1M shares

Gamma flip: N/A

NTM gamma: GEX +$16.1M, DEX +77.1M shares. Strong positive gamma, no put OI below spot, bullish dealer hedging.

IV Analysis

IV vs VIX: IV ~24% vs VIX 17%, modestly rich but not extreme

Term structure: Flat with slight backwardation near expiry, typical non-event

Skew: Call skew elevated vs puts; consider call selling for premium capture

Flow Analysis

Net premium: Net premium positive at $53.8M; P/C vol ratio 0.50 indicates call dominance.

Directional prints: 16.2 call 387.5 OTM 2026-05-26 — Vol/OI 44.6x, IV 16.2%; bought likely for upside; preferred read bullish. 24.8 call 397.5 OTM 2026-05-29 — Vol/OI 14.8x, elevated IV; bought speculatively bullish for further upside.

Unusual: 10.2 call 387.5 OTM 2026-05-22 — Vol 36k on 0DTE OTM call expiring worthless; likely closing/rolling; no directional bias. 18.4 put 387.5 ITM 2026-05-26 — Vol/OI 7.7x ITM put; bought as hedge or bearish bet; preferred read defensive.

Risks & Catalysts

!Failure to hold $375 support

!Vol expansion from macro shock

!Negative catalyst (e.g., DOJ news)

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-05 $375.00/$395.00 call spread Why now: Positive dealer gamma and call flow support near-term bullish drift; limited upside above $390.	Upside cap at $390; max loss if spot drops below long strike.
Put credit spread	Moderate	Sell 2026-06-05 $370.00/$355.00 put spread Why now: Strong support at $375 and positive dealer gamma; pinning dynamics favor collect premium.	If spot breaks below $375, max loss on short put.
Bullish risk reversal	Moderate-Strong	Buy 2026-06-05 $385.00 call / sell 2026-06-05 $370.00 put Why now: Bullish flow and positive gamma support using risk reversal to express upside bias.	Unlimited downside if spot falls sharply.
Cash-secured put	Moderate	Sell 2026-06-05 $375.00 cash-secured put Why now: Positive dealer gamma and support at $375 make cash-secured put attractive for premium collection.	May be assigned if spot drops below $375.

Top Plays

Bull Call Spread

Buy 2026-06-05 $375.00/$395.00 call spread

Long 375/395 call spread captures upside to $390 with limited premium outlay.

Why this play: Best aligns with near-term bullish drift and positive dealer gamma; defined risk and capped profit ideal for modest move to $390.

Debit: $8.44-$10.31

Max loss: $10.31

BE: $385.31

Mgmt: Exit at 50% profit or before expiration; adjust if stock breaches $375 support.

Traders seeking directional upside with defined risk and low cost.

Put Credit Spread

Sell 2026-06-05 $370.00/$355.00 put spread

Sell 370/355 put spread to earn credit while expecting price to stay above $370.

Why this play: Leverages strong support at $375 and positive gamma to collect premium with limited downside.

Credit: $2.02-$2.47

Max loss: $12.53

BE: $367.53

Mgmt: Buy back if stock falls below $375; target 50% profit.

Income-focused traders comfortable with neutral-to-bullish outlook.

Bullish Risk Reversal

Buy 2026-06-05 $385.00 call / sell 2026-06-05 $370.00 put

Buy call and sell put to profit from upside move without upfront cost.

Why this play: Expresses upside bias with unlimited gain potential, supported by bullish flow and positive gamma.

Debit: $3.65-$4.46

Max loss: $370.00

BE: $370.00

Mgmt: Monitor closely; consider rolling if stock drops below $375.

Aggressive traders seeking unlimited upside and willing to bear short put risk.

Watchlist Triggers

Entry Triggers

IFIF stock holds above $375 and closes above $380 within 2 days → THEN buy 2026-06-05 $375/$395 call spread per strategy #1

IFIF stock stays between $375 and $385 for 2 days → THEN sell 2026-06-05 $370/$355 put spread per strategy #2

Exit Triggers

EXITIF stock closes below $375 → THEN exit all bullish positions

Tactical Summary

GOOGL bullish drift to $390 supported by GEX and flow. Enter bull call spread if $380 breached; sell put spread on range-bound price. Exit if $375 lost. High confidence but monitor DOJ news.

How to Use These Reports

This directional reflects the market close on May 22, 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.