Home Options GOOGLReports

GOOGL

Alphabet Inc.Close $349.68EOD only

Max Pain

$360.00

Next expiry Jun 24, 2026

Expected Move

±$7.67

2.2% from close

Price Gap

+10.32

Distance to max pain

IV Rank

Low premium

P/C OI

0.77

Slightly call-heavy

Consensus

4.5/10

Neutral tilt

Published snapshot: Jun 22, 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 22, 2026 close

GOOGL Directional Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Despite broad market weakness (QQQ -3.3%), GOOGL shows bullish flow and spot near max pain at $348, creating conflicting signals. Negative dealer gamma (-$1.5M) could amplify moves but near-term pin action likely holds range $340-351.69. Confidence is moderate at 6/10, supported by spot proximity to MP and VIX elevation, but weighed by GEX/flow contradiction. Thesis is event-specific through next week expiries.

Confidence:

5.5 / 10

Base 5.5 from model; -1 due to GEX/flow contradictory signals; +1 for spot 0.4% from max pain; +0.5 for VIX support at 19.5.

Supports: Bullish net flow; spot near max pain; dealer long delta (+73.2M shares).
Conflicts: Negative gamma; broad market selloff; bearish price action.

⚠️Bearish macro but bullish flow conflict

📌Max pain pin at $348 keeps spot contained

📉Negative gamma amplifies breakout risk

Regime Classification

Vol Regime

Normal

IV at 19.5 VIX is moderate but QQQ drop 3.3% raises relative vol; normal regime.

Gamma Regime

Trending

Negative GEX -$1.5M implies dealer short gamma, amplifying moves. Flip at ~$320 (7.5% below).

Flow Regime

Bullish

Bullish net premium flow, partly offsetting bearish market action.

Spot vs Max Pain

Spot near $348 max pain for 6/24 expiry; within 0.4%, creating pin action.

Thesis duration: Event-specific — Multiple OI concentrations at weekly expiries create event-driven pin risk; directional trend resolves after expiry.

Price Range Forecast

Next 2 days

$340.58$351.69

Test of $340 support if selling persists.

Next 1 week

$334.83$357.43

Multiple pins keep range-bound near $348-355.

Next 2 weeks

$327.33$364.93

If $340 breaks, next support $327.

Key Levels

Max pain pins: $348 (2026-06-24); $355 (2026-06-26); $350 (2026-06-29)

EM guardrails: 2d $340.58/$351.69; 1w $334.83/$357.43

Support: $340.00 · $327.33 · $320.00

Resistance: $347.50 · $350.00 · $364.93

Gamma flip: ~$320.00 — Approx — based on put OI concentration of 17,449 (7.5% below spot)

Structural: Max pain: $348 (6/24), $355 (6/26), $350 (6/29). EM guardrails: 2d $340-351.69, 1w $334.83-357.43. Support: 340, 327, 320. Resistance: 347.5, 350, 364.93. Gamma flip at $320.

Dealer Positioning (GEX/DEX)

GEX: $-1.5M

DEX: +73.2M shares

Gamma flip: ~$320 (Approx — based on put OI concentration of 17,449 (7.5% below spot))

NTM gamma: GEX -$1.5M (short gamma), DEX +73.2M shares (long delta). Gamma flip ~$320 (put OI concentration 17,449).

IV Analysis

IV vs VIX: GOOGL IV elevated vs VIX due to event-risk from multiple OI expiries; rich for short vol.

Term structure: Upward sloping with kinks near weekly expiries; near-term vol prices pin risk.

Skew: Skew steep on puts; selling OTM puts at $340 support captures premium.

Flow Analysis

Net premium: Net premium $45.3M positive, put/call vol ratio 0.5 indicates bullish flow.

Directional prints: 27.2 call 350 OTM 2026-06-24 — Vol 21348 vs OI 2880 (7.4x), aggressive buying for upside; likely bought.

Unusual: 27.7 call 347.5 OTM 2026-06-24 — Vol/OI 10.0x extreme, bullish buying. 26.4 put 342.5 OTM 2026-06-24 — Vol/OI 9.5x high, likely sold for bearish premium or hedge. 26.5 put 347.5 ITM 2026-06-24 — Vol/OI 9.0x, bearish put buying.

Risks & Catalysts

!Broader market weakness may push through $340 support

!Gamma flip at $320 could trigger accelerated decline

!Unexpected positive catalyst could reverse bearish bias

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Iron condor	Moderate	Sell 2026-07-24 $340.00/$335.00 put wing and $345.00/$350.00 call wing Why now: Range $340-351.69, elevated IV pre-earnings offers premium with defined risk.	Upside breakout or downside collapse beyond wings causes max loss.
Call credit spread	Moderate	Sell 2026-07-24 $345.00/$350.00 call spread Why now: Thesis neutral-bearish near term with range cap at $351.69, elevated IV for premium.	Break above short strike causes max loss; risk defined.
Put credit spread	Moderate-Weak	Sell 2026-07-24 $340.00/$335.00 put spread Why now: Bullish flow and max pain pin near $348 supports slight upside, premium collection.	Break below $340 brings accelerated selling due to dealer gamma.

Top Plays

Iron Condor for Range

Sell 2026-07-24 $340.00/$335.00 put wing and $345.00/$350.00 call wing

Sell call and put wings to capture premium within expected range

Why this play: Best fit: neutral thesis with defined range $340-351.69 and elevated IV.

Credit: $4.19-$5.12

Max loss: $0.00

BE: 334.88 / 350.12

Mgmt: Exit near 50% profit or at expiration; widen if breached

Traders expecting low volatility and pin action near max pain

Call Credit Spread

Sell 2026-07-24 $345.00/$350.00 call spread

Sell call spread to profit from limited upside and time decay

Why this play: Aligns with neutral-bearish lean and range cap at $351.69.

Credit: $2.45-$3.00

Max loss: $2.00

BE: $348.00

Mgmt: Close if spot exceeds $347.50 invalidation; set stop loss

Traders bearish on upside but not expecting a sharp drop

Put Credit Spread

Sell 2026-07-24 $340.00/$335.00 put spread

Sell put spread to collect premium with downside protection at $335

Why this play: Conflicts with bearish thesis but bullish flow supports near-term support.

Credit: $1.73-$2.12

Max loss: $2.88

BE: $337.88

Mgmt: Exit if spot breaches $340 to limit loss

Traders expecting bullish flow to hold support above $340

Watchlist Triggers

Entry Triggers

IFIF spot holds between $340 and $347.5 (midpoint of range) in next 2 days → THEN enter iron condor: sell 2026-07-24 $340/$335 put spread and $345/$350 call spread

Adjustment Triggers

ADJIF spot breaches $347.5 (call credit invalidation) → THEN close call spread leg of iron condor; maintain put spread

Exit Triggers

EXITIF spot reaches $350 or $340 → THEN exit entire iron condor to lock profit or limit loss

Tactical Summary

Neutral-bearish thesis near max pain $348 with range $340-351.69. Enter iron condor between support and resistance; adjust if call spread invalidation triggered; exit at range extremes.

How to Use These Reports

This directional reflects the market close on June 23, 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.