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GOOGL

Alphabet Inc.Close $343.71EOD only
Max Pain
$350.00
Next expiry Jun 26, 2026
Expected Move
±$6.40
1.9% from close
Price Gap
+6.29
Distance to max pain
IV Rank
8
Low premium
P/C OI
0.76
Slightly call-heavy
Consensus
5.0/10
Bullish tilt
Published snapshot: Jun 25, 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 25, 2026 close
GOOGL Directional Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

Mixed signals: bullish flow and VIX support, but negative gamma and spot below max pain suggest resistance. Overall neutral-leaning with downside risk if gamma flip triggered.

Confidence:
4 / 10
Base 5 adjusted by -1 for GEX/flow conflict, -0.5 for spot 3.6% from MP, +0.5 for VIX 18.4, yielding 4.0.
Supports: Bullish flow, VIX decline from highs.
Conflicts: Negative GEX, spot below key MP level $350.
⚡Bullish flow clashes with negative gamma; whipsaw risk.
📉Spot 3.6% below max pain $350; magnetic pull lower.
🛡️VIX 18.4 offers tail hedge, limiting crash risk.

Regime Classification

Vol Regime
Normal
IV normal per classification, VIX 18.4 indicates muted fear.
Gamma Regime
Trending
Trending regime with -$35.1M GEX; dealer hedging amplifies directional moves.
Flow Regime
Bullish
Bullish net premium flow; premium buying suggests upside bets.
Spot vs Max Pain
Below
Spot below max pain $350; 3.6% discount exerts downward gravity.
Thesis duration: Multi-week — Multiple expiry pins (June 26, 29, July 1) and gamma trending across weeks imply sustained positioning.

Price Range Forecast

Next 2 days
$333.67$341.12
Spot below $341.12 resistance; gamma flip risk near $320.
Next 1 week
$326.32$348.47
Range $326.32-$348.47; max pain $348-$350 caps upside.
Next 2 weeks
$320.12$354.67
Wide range $320-$354; structural support $320 from gamma flip.

Key Levels

Max pain pins: $350 (2026-06-26); $348 (2026-06-29); $350 (2026-07-01)
EM guardrails: 2d $333.67/$341.12; 1w $326.32/$348.47
Support: $320.12 · $320.00
Resistance: $350.00 · $354.67
Gamma flip: ~$320.00 — Approx — based on put OI concentration of 17,546 (5.2% below spot)
Structural: Support: $320 (gamma flip), $320.12 (2w low). Resistance: $350 (max pain), $354.67 (2w high). EM guardrails: 2d $333.67/$341.12, 1w $326.32/$348.47.

Dealer Positioning (GEX/DEX)

GEX: $-35.1M

DEX: +72.9M shares

Gamma flip: ~$320 (Approx — based on put OI concentration of 17,546 (5.2% below spot))

NTM gamma: GEX -$35.1M (negative), DEX +72.9M shares. Gamma flip near $320 based on put OI concentration 5.2% below spot.

IV Analysis

IV vs VIX: No direct ticker IV; reference VIX 18.4 for broad context. Likely in line with sector.

Term structure: Not provided; likely contango given VIX below 20.

Skew: Skew unknown; put OI concentration suggests tail hedging.

Flow Analysis

Net premium: Net premium +$14.8M, put/call vol ratio 0.47, bullish call buying dominates.

Directional prints: 22.9 call 345 OTM 2026-06-26 — Vol/OI 13.5, massive new buying, bullish speculation. 17.6 call 340 OTM 2026-06-26 — Vol/OI 16.2, aggressive call buying, bullish.

Unusual: 19.6 call 342.5 OTM 2026-06-26 — Vol/OI 28.6, extreme new call buying at high IV, bullish bet. 28.3 put 337.5 ITM 2026-06-26 — Vol/OI 17.6, heavy put buying at elevated IV, hedging or bearish. 24.4 call 340 OTM 2026-06-29 — Vol/OI 17.3, new call buying, bullish positioning.

Risks & Catalysts

!Gamma flip at $320 accelerates downside.
!Max pain magnetic pull breaches support.
!Flow reversal if macro sentiment shifts.
!Event risk from upcoming expirations (June 26, 29, July 1).

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bear put spreadModerate-Weak
Buy 2026-07-24 $325.00/$305.00 put spread
Why now: Bearish defined-risk spread to profit from expected decline with limited capital at risk.
Upside move beyond short strike caps profit but defined loss. Liquidity constraints: short_put: Wide spread (60%).
Call credit spreadModerate-Weak
Sell 2026-07-24 $370.00/$390.00 call spread
Why now: Sell call spread to collect premium with defined risk; bearish flow dominates.
Sharp rally above short strike causes loss. Liquidity constraints: long_call: Wide spread (70%).

Top Plays

#1
Bear Put Spread
Buy 2026-07-24 $325.00/$305.00 put spread
Profits from expected decline with $320/$305 put spread.
Why this play: Best ranks as thesis highlights downside risk from gamma flip and max pain; defined risk bearish exposure with limited capital.
Debit: $4.45-$5.44
Max loss: $5.44
BE: $319.56
Mgmt: Close if price stays above $350 or adjust on gamma flip. Liquidity warning: Liquidity constraints: short_put: Wide spread (60%).
Traders anticipating downside move with defined risk.
#2
Call Credit Spread
Sell 2026-07-24 $370.00/$390.00 call spread
Sells upside call spread to collect premium with defined risk.
Why this play: Second as it collects premium but lower probability due to bullish flow dominance.
Credit: $1.69-$2.06
Max loss: $17.94
BE: $372.06
Mgmt: Monitor for reversal above $370. Liquidity warning: Liquidity constraints: long_call: Wide spread (70%).
Traders expecting limited upside or sideways.

Watchlist Triggers

Entry Triggers
IFIF GOOGL closes below $320 (gamma flip) with volume confirmation → THEN buy 2026-07-24 $325/$305 bear put spread at 4.45-5.44
IFIF GOOGL rejects $350 (max pain) with bearish candlestick pattern → THEN sell 2026-07-24 $370/$390 call credit spread at 1.69-2.06
Exit Triggers
EXITIF GOOGL reclaims $333 (2d EM guardrail) or breaks above $350 → THEN close bear put spread and buy back call credit spread

Tactical Summary

Neutral-leaning with downside risk. Prioritize bear put spread on $320 breakdown. Call credit spread on $350 rejection. Exit if price reclaims $333 or invalidates at $350.
How to Use These Reports
This directional reflects the market close on June 26, 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.