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GOOGL

Alphabet Inc.Close $368.03EOD only

Max Pain

$365.00

Next expiry Jun 22, 2026

Expected Move

±$6.35

1.7% from close

Price Gap

-3.03

Distance to max pain

IV Rank

100

High premium

P/C OI

0.82

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

GOOGL Directional Report

Analysis based on market close June 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Neutral-bullish bias as bullish flow and below-MP positioning counter negative dealer gamma. Upside limited by resistance at $350-$365; downside protected at $340.

Confidence:

4.5 / 10

Base 4.5: -1 GEX/flow conflict, -0.5 spot 4.2% from MP, +1 VIX 17. Net 4.0.

Supports: Bullish flow, below-MP spot, low VIX.
Conflicts: Negative dealer gamma (-12.9M GEX), resistance at $350/$365.

📊Flow bullish but GEX negative — expect volatility.

📌Spot well below max pain $365; pin action likely.

📈Low VIX (17.28) supports gradual trend.

Regime Classification

Vol Regime

Normal

Normal: IV in line with VIX (17.28), no extreme pricing.

Gamma Regime

Trending

Trending: Negative GEX (-12.9M) indicates short gamma, amplifying directional moves.

Flow Regime

Bullish

Bullish: Net call premium outweighs puts, indicating upside bets.

Spot vs Max Pain

Below

Below: Spot 4.2% under max pain ($365), suggests upward drift possible.

Thesis duration: Multi-week — Bullish flow and below-MP spot provide tailwinds, but resistance levels and dealer gamma create friction, supporting a gradual multi-week move.

Price Range Forecast

Next 2 days

$342.00$357.35

Support at $342, resistance $357.35; hold above $342 for upside.

Next 1 week

$337.03$362.33

Range $337-$362; break above $350 opens $365.

Next 2 weeks

$329.40$369.95

Upside target $369.95 if resistance clears; support $329.4.

Key Levels

Max pain pins: $365 (2026-06-22); $360 (2026-06-24); $365 (2026-06-26)

EM guardrails: 2d $342.00/$357.35; 1w $337.03/$362.33

Support: $340.00 · $329.40 · $320.00

Resistance: $350.00 · $365.00 · $369.95

Gamma flip: ~$320.00 — Approx — based on put OI concentration of 17,318 (8.5% below spot)

Structural: Max pain $365 (all expiries); gamma flip ~$320; EM guardrails: 2d $342/$357.35, 1w $337/$362.33; support $340, resistance $350/$365/$370.

Dealer Positioning (GEX/DEX)

GEX: $-12.9M

DEX: +70.9M shares

Gamma flip: ~$320 (Approx — based on put OI concentration of 17,318 (8.5% below spot))

NTM gamma: Dealers net long delta (+70.9M shares) but short gamma (-$12.9M GEX). Short gamma can amplify moves; spot below MP adds pin risk.

IV Analysis

IV vs VIX: IV near VIX (17.28), fair pricing. No cheap/rich signal.

Term structure: Slight contango assumed, no event kinks noted.

Skew: Put skew elevated due to downside hedging; no clear vol arbitrage.

Flow Analysis

Net premium: Positive net premium ~$152M with low P/C volume ratio 0.47 reflecting heavy call buying; bullish flow bias.

Directional prints: 7.4 call 352.5 OTM 2026-06-22 — Vol/OI 304.9, IV 7.4%; likely bought OTM calls; bullish directional bet. 21.9 put 340 OTM 2026-06-22 — Vol/OI 127.9, IV 21.9%; OTM put buying possibly hedging downside; bearish tilt. 18 call 357.5 OTM 2026-06-22 — Vol/OI 91.6, IV 18%; aggressive OTM call buying; bullish momentum.

Unusual: 31.9 call 347.5 ITM 2026-06-24 — Expiring in 2 days with high premium $5.1; possible closing or opening near-the-money; unusual IV expansion. 17.4 put 352.5 ITM 2026-06-22 — Vol/OI 40.3, OI 216, last $3.15; unusual put activity at same strike as high call vol; possible collar. 22.7 call 360 OTM 2026-06-22 — Vol 21k, OI 570, vol/OI 37; large OI suggests institutional interest; bullish.

Risks & Catalysts

!Break below $340 support accelerates decline toward gamma flip $320.

!Negative dealer gamma induces sharp reversals on large moves.

!Resistance at $350/$365 caps upside without strong catalyst.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-07-24 $375.00/$395.00 call spread Why now: Bullish flow and neutral-bullish bias support upside within resistance.	Capped upside if stock stays below 350.
Put credit spread	Moderate	Sell 2026-07-24 $330.00/$315.00 put spread Why now: Support at 340 and bullish flow favor premium sale.	Break below 340.
Bullish risk reversal	Conditional	Buy 2026-07-24 $375.00 call / sell 2026-07-24 $325.00 put Why now: Use bullish flow to finance upside calls; risk well defined.	Large downside if underlying drops sharply.

Top Plays

Premium Sale at Support

Sell 2026-07-24 $330.00/$315.00 put spread

Sell $330/$315 put spread to earn premium with invalidation at $340; expresses neutral-bullish view with defined risk.

Why this play: Outperforms alternatives by collecting premium with high probability given support at $340 and bullish flow. Less aggressive than risk reversal and higher delta than call spread given resistance.

Credit: $2.74-$3.34

Max loss: $11.66

BE: $326.66

Mgmt: Close at 50% max profit or if stock breaks $340; set stop at $340.

Income-focused traders seeking high probability, defined risk plays.

Upside Capture via Call Spread

Buy 2026-07-24 $375.00/$395.00 call spread

Buy $375/$395 call spread to express directional bullish bet with limited risk; targets move above resistance.

Why this play: Ranks below put credit spread due to resistance capping upside, but still viable given bullish flow and low cost.

Debit: $2.98-$3.64

Max loss: $3.64

BE: $378.64

Mgmt: Exit if stock closes below $340; take profit at 50% of max gain or close before expiration.

Aggressive traders looking for leveraged upside on earnings or catalyst.

Financed Upside via Risk Reversal

Buy 2026-07-24 $375.00 call / sell 2026-07-24 $325.00 put

Buy $375 call funded by selling $325 put; profits if stock stays above $325 with upside exposure.

Why this play: Most aggressive; unlimited gain but material downside risk below $325. Lower rank due to higher tail risk given resistance overhead.

Debit: $1.28-$1.57

Max loss: $325.00

BE: $325.00

Mgmt: Monitor closely; close if stock approaches $340; consider rolling put if needed.

Experienced traders willing to accept assignment risk for free upside.

Watchlist Triggers

Entry Triggers

IFIF GOOGL holds above $342 (2d bullish level) and $340 support → THEN sell $330/$315 put spread for credit near $3.00 (entry range $2.74-$3.34)

Adjustment Triggers

ADJIF GOOGL breaks above $350 resistance → THEN add $375/$395 call spread for upside (entry ~$3.30)

Exit Triggers

EXITIF GOOGL closes below $340 invalidation → THEN close put credit spread and all bullish positions

Tactical Summary

Neutral-bullish: sell put spread near $340 support; exit below $340. If $350 breaks, add call spread for earnings upside. Manage risk with defined levels.

How to Use These Reports

This directional reflects the market close on June 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.