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GOOGL

Alphabet Inc.Close $373.25EOD only

Max Pain

$360.00

Next expiry Jun 17, 2026

Expected Move

±$5.28

1.4% from close

Price Gap

-13.25

Distance to max pain

IV Rank

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

Published Snapshot

Jun 16, 2026 close

GOOGL Directional Report

Analysis based on market close June 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias toward $368 max pain over near term, supported by strong dealer gamma, bullish flow, and pinning dynamics, though market headwinds and resistance at $367.5 may delay upside.

Confidence:

9 / 10

Base 5 +2 GEX/flow aligned +1 positive GEX pinning +0.5 spot 1% from MP +0.5 VIX 18 =9.0. High conviction due to strong regime alignment.

Supports: Dealer long gamma ($+79.3M GEX) creates pinning, bullish flow positive, spot below max pain indicates upside potential, VIX elevated but normal vol supports stable pricing.
Conflicts: Market down (SPY -1.25%, QQQ -1.01%) creates headwind, resistance at $367.5 and $379.14, gamma flip at $320 far below.

🟢Dealer positive GEX $79.3M pinning toward $368 max pain

⚠️Spot below MP but market weakness may delay rally

📊Confidence 9/10 due to strong regime alignment

Regime Classification

Vol Regime

Normal

Normal vol; IV stable relative to typical range, supported by VIX 18.44.

Gamma Regime

Pinning

Pinning regime with strong positive GEX ($79.3M) near $368 max pain; gamma flip at $320 far below.

Flow Regime

Bullish

Bullish flow with net premium positive, reinforcing upward bias.

Spot vs Max Pain

Below

Spot below max pain ($368), pinning pull expected; upside potential implied.

Thesis duration: Event-specific — Multiple OPEX dates (6/17, 6/18, 6/22) with max pain pins create near-term event-driven pinning, supported by strong dealer gamma.

Price Range Forecast

Next 2 days

$357.94$369.64

Upside toward $368 max pain, resistance at $367.5.

Next 1 week

$354.87$372.72

Pinning to $365-368 as multiple expiries provide support.

Next 2 weeks

$348.44$379.14

May resolve toward resistance $379.14 but headwinds remain.

Key Levels

Max pain pins: $368 (2026-06-17); $330 (2026-06-18); $365 (2026-06-22)

EM guardrails: 2d $357.94/$369.64; 1w $354.87/$372.72

Support: $348.44

Resistance: $367.50 · $379.14 · $400.00

Gamma flip: ~$320.00 — Approx — based on put OI concentration of 17,184 (12.0% below spot)

Structural: Support 348.44, resistance 367.5/379.14/400, gamma flip at 320. Max pain pins: $368 (6/17), $330 (6/18), $365 (6/22). EM guardrails: 2d 357.94-369.64; 1w 354.87-372.72.

Dealer Positioning (GEX/DEX)

GEX: $+79.3M

DEX: +88.1M shares

Gamma flip: ~$320 (Approx — based on put OI concentration of 17,184 (12.0% below spot))

NTM gamma: Dealer net long gamma $+79.3M with flip at ~$320 (12% below spot). Strong positive gamma supports mean reversion and pinning near max pain $368.

IV Analysis

IV vs VIX: GOOGL IV elevated relative to VIX (~18.4) due to event risk and elevated single-stock vol. Rich for longs but consistent with pinning dynamics.

Term structure: Normal contango with kinks near June OPEX expiries (6/17, 6/18, 6/22). Front-week elevated, back-week flatter.

Skew: Put skew elevated, reflecting downside protection demand. Consider selling puts at support $348 for premium capture given strong dealer gamma.

Flow Analysis

Net premium: Net premium +$112.6M with P/C vol ratio 0.54, calls dominate.

Directional prints: 9 call 367.5 OTM 2026-06-17 — Vol/OI 78x; likely bought as aggressive bullish bet, preferred read buy. 4.5 call 365 OTM 2026-06-17 — Vol/OI 42.8x; consistent with call buying, preferred read buy.

Unusual: 5.4 put 362.5 OTM 2026-06-17 — Vol/OI 28.2x for put in bullish flow; could be bearish bet or hedge, preferred read neutral. 9.4 put 360 OTM 2026-06-17 — Vol/OI 20.9x put unusual; likely bought as protection or speculation, preferred read neutral.

Risks & Catalysts

!Market reversal or sustained selloff (SPY/QQQ down)

!Key resistance at $367.5 fails to break

!Gamma flip below $320

!Unexpected news or earnings event

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-07-24 $390.00/$405.00 call spread Why now: Call flow dominates, dealer gamma supports upside toward $368.	Resistance at $367.5 may cap near-term gains.
Put credit spread	Moderate	Sell 2026-07-24 $335.00/$320.00 put spread Why now: Put IV elevated, supportive dealer gamma at lower strikes.	Downside reversal could breach put credit.
Bullish risk reversal	Strong	Buy 2026-07-24 $370.00 call / sell 2026-07-24 $330.00 put Why now: Strong call flow, cheap put premium due to bullish bias.	Unlimited downside if market reverses sharply.

Top Plays

Bull Call Spread

Buy 2026-07-24 $390.00/$405.00 call spread

Capitalizes on dealer gamma and call dominance with defined risk.

Why this play: Direct exposure to bullish call flow and gamma support toward $368.

Debit: $2.56-$3.13

Max loss: $3.13

BE: $393.13

Mgmt: Exit at 50% gain or if price drops below $348.44 invalidation.

Aggressive traders seeking leveraged upside with capped loss.

Bullish Risk Reversal

Buy 2026-07-24 $370.00 call / sell 2026-07-24 $330.00 put

Combines call buying with put selling for zero cost or credit.

Why this play: Unlimited upside potential, funded by cheap put premium due to bullish bias.

Debit: $8.62-$10.53

Max loss: $330.00

BE: $330.00

Mgmt: Roll or close if price falls below $348.44; take profit on call leg at target.

Traders comfortable with unlimited upside risk and short put assignment.

Put Credit Spread

Sell 2026-07-24 $335.00/$320.00 put spread

Sells put spread to collect premium, betting support holds.

Why this play: Consistent with bullish bias but lower reward; placed last due to less direct call flow alignment.

Credit: $2.35-$2.87

Max loss: $12.13

BE: $332.13

Mgmt: Buy back if price nears short put strike; hold to expiration if above.

Conservative traders seeking income with defined risk.

Watchlist Triggers

Entry Triggers

IFIf GOOGL closes above 357.94 (2-day EM low) and holds above 348.44 → then enter bull call spread: buy 390 call, sell 405 call for 2.56-3.13 debit

IFIf GOOGL breaks above 367.5 resistance → then enter bullish risk reversal: buy 370 call, sell 330 put for 8.62-10.53 credit

Exit Triggers

EXITIf GOOGL closes below 348.44 invalidation level → then exit all bullish positions: bull call spread, risk reversal, and put credit spread

Tactical Summary

Core play: bull call spread on pullback to support. Add risk reversal on breakout above 367.5. Exit all if below 348.44.

How to Use These Reports

This directional 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.