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GOOGL

Alphabet Inc.Close $359.68EOD only
Max Pain
$355.00
Next expiry Jun 15, 2026
Expected Move
±$6.67
1.9% from close
Price Gap
-4.68
Distance to max pain
IV Rank
44
Middle-high premium
P/C OI
0.82
Slightly call-heavy
Consensus
9.0/10
Bullish tilt
Published snapshot: Jun 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
Jun 12, 2026 close
GOOGL Directional Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

Bullish bias supported by strong dealer gamma pinning at $358 and bullish flow. Spot near max pain, with EM guardrails pointing to upside.

Confidence:
9 / 10
High base confidence from aligned GEX/flow, pinning, close spot to MP, and low VIX.
Supports: $130M positive GEX; bullish flow; spot at max pain; EM support 353.
Conflicts: Resistance at $377; no gamma flip.
🟢Strong dealer pinning at $358 with $130M GEX
📈Bullish flow with net premium positive
📊Spot at max pain, EM upside to 366

Regime Classification

Vol Regime
Normal
IV normal relative to history, no elevated stress.
Gamma Regime
Pinning
$130M positive gamma, pinning spot near max pain.
Flow Regime
Bullish
Bullish net premium, calls dominate.
Spot vs Max Pain
At
Spot at max pain $358, tight range.
Thesis duration: Multi-week — Bullish flow and pinning support gradual upside over next 1-2 weeks.

Price Range Forecast

Next 2 days
$353.00$366.35
EM guardrails 353-366, bias to test 366.
Next 1 week
$349.08$370.28
Target $370 given momentum.
Next 2 weeks
$342.08$377.28
Upside to $377 resistance.

Key Levels

Max pain pins: $358 (2026-06-12); $355 (2026-06-15); $355 (2026-06-17)
EM guardrails: 2d $353.00/$366.35; 1w $349.08/$370.28
Support: $357.50 · $342.08
Resistance: $377.28
Structural: MP $358, EM 2d $353/$366, 1w $349/$370, support $342, resistance $377.

Dealer Positioning (GEX/DEX)

GEX: $+130.6M

DEX: +83.2M shares

Gamma flip: N/A

NTM gamma: $+130M GEX, DEX +83M shares, no gamma flip.

IV Analysis

IV vs VIX: Implied vol likely elevated vs VIX 18 due to ticker-specific demand, but not extreme.

Term structure: Normal contango, no event kinks.

Skew: Skew neutral; potential to sell downside puts given bullish bias.

Flow Analysis

Net premium: Net call premium ~$96M includes ~$35M near-expiry closing flow; speculative premium ~$61M, P/C vol ratio 0.41.

Directional prints: 23.4 call 367.5 OTM 2026-06-15 — Vol/OI 12.7x, OTM call bought speculatively for upside. 31.4 call 372.5 OTM 2026-06-18 — Vol/OI 14.9x, further OTM call, high IV, bullish.

Unusual: 12.5 call 365 OTM 2026-06-12 — Massive 51.5k vol vs 5.3k OI, near-zero premium at expiry, likely rolling or closing. 7.2 call 362.5 OTM 2026-06-12 — 33k vol vs 3.7k OI, similar pattern of heavy near-expiry OTM call flow.

Risks & Catalysts

!Break below $353 EM support
!Sudden VIX spike
!Shift in dealer gamma

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bull call spreadModerate-Strong
Buy 2026-07-24 $365.00/$390.00 call spread
Why now: Defined-risk bullish play capturing earnings move with favorable risk/reward; using 360/370 call spread expiring post-earnings.
Max loss limited to debit paid; upside capped at sold call strike.
Put credit spreadModerate-Weak
Sell 2026-07-24 $335.00/$320.00 put spread
Why now: Collect premium in bullish direction with defined risk; targeting 345/335 put spread expiring post-earnings.
Max loss defined as spread width minus credit; short put assignment risk below 345. Liquidity constraints: long_put: Wide spread (55%).
Bullish risk reversalConditional
Buy 2026-07-24 $375.00 call / sell 2026-07-24 $330.00 put
Why now: Upside convexity from long call financed by short put below support; captures earnings move with zero cost potential.
Uncapped upside potential on short put if stock drops below sold strike; margin requirement. Liquidity constraints: short_put: Wide spread (54%).

Top Plays

#1
Bull Call Spread
Buy 2026-07-24 $365.00/$390.00 call spread
Buy 365/390 call spread expiring post-earnings, benefiting from bullish bias and strong flow.
Why this play: Best risk/reward with high liquidity; defined risk captures earnings upside.
Debit: $7.96-$9.74
Max loss: $9.74
BE: $374.74
Mgmt: Exit if stock breaks below 357.5; consider taking profit at 50% of max gain.
Traders seeking defined risk with upside exposure.
#2
Bullish Risk Reversal
Buy 2026-07-24 $375.00 call / sell 2026-07-24 $330.00 put
Long 375 call financed by short 330 put; captures convexity on earnings move.
Why this play: Unlimited upside potential with zero cost possible, but downside risk and lower liquidity.
Debit: $4.61-$5.64
Max loss: $330.00
BE: $330.00
Mgmt: Manage short put risk; exit if stock drops below 357.5. Liquidity warning: Liquidity constraints: short_put: Wide spread (54%).
Aggressive traders expecting large upside move.
#3
Put Credit Spread
Sell 2026-07-24 $335.00/$320.00 put spread
Sell 335/320 put spread to collect premium, but low liquidity may hinder execution.
Why this play: Lower liquidity and limited upside compared to alternatives.
Credit: $2.85-$3.48
Max loss: $11.52
BE: $331.52
Mgmt: Monitor liquidity; close if stock approaches 357.5. Liquidity warning: Liquidity constraints: long_put: Wide spread (55%).
Income-focused traders comfortable with less liquid options.

Watchlist Triggers

Entry Triggers
IFIF spot closes above $366 (2-day EM) with bullish flow → THEN enter Bull Call Spread: buy 365/390 call spread (strat-1)
IFIF spot dips to $357.5 and holds, showing reversal → THEN enter Bullish Risk Reversal: buy 375 call / sell 330 put (strat-3)
Adjustment Triggers
ADJIF spot approaches $357.5 from above → THEN tighten stops on Put Credit Spread (strat-2) if active
Exit Triggers
EXITIF spot breaks below $357.5 support → THEN exit all bullish positions (strat-1 and strat-3)

Tactical Summary

Multi-week bullish bias. Key support at $357.5 and $342, resistance at $377. Primary entry: Bull Call Spread on breakout above $366. Exit if $357.5 lost. Secondary: Risk Reversal on dip to $357.5. Manage invalidation at $357.5.
How to Use These Reports
This directional reflects the market close on June 12, 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.