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GOOGL

Alphabet Inc.Close $341.68EOD only
Max Pain
$322.50
Next expiry Apr 20, 2026
Expected Move
±$3.42
1.0% from close
Price Gap
-19.18
Distance to max pain
IV Rank
100
High premium
P/C OI
0.86
Slightly call-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Apr 17, 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
Apr 17, 2026 close
GOOGL Earnings Report
Analysis based on market close April 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

High-confidence pinning setup into 2026-04-23 earnings: concentrated near-dated call OI and heavy call flow around 340–345 with spot near max pain; historical beat rate elevated (~70–80%) supports muted directional surprise but IV compression likely.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.7% from MP; +0.5 VIX 19
Most important: Near-dated call concentration and large call prints aligned at 340–345 driving pinning gamma into earnings.
📌Call-heavy flow concentrated at 340–345 aligning with max pain and pinning
⚠️May put volume signals elevated tail risk despite muted front-week moves

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
At

Earnings Overview

Next earnings: 2026-04-23 (3 days)explicit

Expected moves:

  • 2026-04-22 (2d): ±$6.25 (1.9%)
  • 2026-04-24 (4d): ±$9.53 (2.8%)
  • 2026-04-27 (7d): ±$11.07 (3.3%)

IV Setup

Term structure: Front-week IV elevated versus nearby tails; short-dated expiries show highest IV into earnings.

Crush estimate: Moderate post-earnings IV crush expected on the immediate post-release expiry (4/24) (~30–40% front-week compression).

Skew: Call skew steep into 340–345; longer-dated put IV richer in May tails.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Recent quarters showed moves in-line or below expected; typical realized move ~1.5–2% versus expected.

Directional bias: Neutral-to-slight-bullish given elevated historical beat rate (~70–80%) but limited upside priced in.

Key Levels

1EM guardrails: 2d $331.17/$343.67; 1w $326.35/$348.50
2Max pain pins: $335 (2026-04-20); $332 (2026-04-22); $318 (2026-04-24)

Flow Highlights

Large near-dated call prints concentrated at 340–345 (weeklies expiring 4/24)

Gamma and dealer flow likely to pin price into the 340–345 range into earnings.

Notable May put buys (tail strikes) increasing term premium

Protective/tail demand lifting longer-dated IV versus front-week.

Strategies

Defined iron condor
Sell 2026-05-08 $335.00/$330.00 put wing and $340.00/$350.00 call wing
Credit: $5.58-$6.82
Max loss: $3.18
Max gain: $6.82
BE: 328.18 / 346.82
Trigger: Trim or roll if spot exits 335–345 band; take max gain near expiry or cut at 2/3 loss
Balances income from rich calls with capped upside risk into a pin
Outperforms: Sell 5/08 340/350 call wing and 335/330 put wing to collect premium while limiting tail loss around 340–345 pin
Underperforms: Move outside short strikes invalidates range thesis.
Call calendar at 340
Sell 2026-05-01 $340.00 call / buy 2026-06-18 $340.00 call
Debit: $7.74-$9.46
Max loss: $9.46
Max gain: Variable
BE: Path-dependent
Trigger: Close short if front-week IV spikes or spot breaks 335; adjust by rolling short leg
Sells elevated front-week IV at the pin while keeping back-month upside
Outperforms: Sell 5/01 340 call, buy 6/18 340 call to harvest time decay and benefit from post-crush reversion
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short strangle (least preferred)
Sell 2026-05-01 $335.00 put + sell $340.00 call
Credit: $16.16-$19.75
Max loss: Unlimited
Max gain: $19.75
BE: 315.25 / 359.75
Trigger: Have hedges or alerts; cover/roll immediately if spot breaches wings
Max premium but unlimited upside risk into earnings pin
Outperforms: Sell 5/01 335 put and 340 call to collect rich premium expecting muted move and IV crush
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Surprise beat/miss causing gap beyond pin range
!Guidance-driven IV reprice higher than expected post-release
!Pinning can fail if intraday flow flips, causing rapid gamma unwind

What to Watch

?Spot vs max-pain band (340–345) pre-open and into 4/23
?Front-week IV moves and bids on 4/24 expiries
?Unusual prints in May puts signaling increased tail buying
How to Use These Reports
This earnings reflects the market close on April 20, 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.