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GOOGL

Alphabet Inc.Close $337.42EOD only
Max Pain
$332.50
Next expiry Apr 22, 2026
Expected Move
±$6.25
1.9% from close
Price Gap
-4.92
Distance to max pain
IV Rank
26
Middle-high premium
P/C OI
0.89
Slightly call-heavy
Consensus
7.0/10
Consensus signal
Published snapshot: Apr 20, 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 20, 2026 close
GOOGL Earnings Report
Analysis based on market close April 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

High probability of muted net directional move with pinning toward 335-340 through earnings.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.8% from MP; +0.5 VIX 20; override: Strong GEX/flow alignment, pinning regime, spot near MP
Most important: Flow + GEX suggest pinning into/through the prints
📌Pinning pressure centered at $335–$340 from concentrated front-week calls
⚠️Front-week IV ~30% could drop 25–35% but long-dated IV and tail puts remain elevated

Regime Classification

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

Earnings Overview

Next earnings: 2026-04-23 (2 days)explicit

Expected moves:

  • 2026-04-22 (1d): ±$5.82 (1.8%)
  • 2026-04-24 (3d): ±$9.12 (2.7%)
  • 2026-04-27 (6d): ±$10.80 (3.3%)

IV Setup

Term structure: Front-week elevated vs wings; near-term IV ~30% compressed vs longer-dated 37–47%

Crush estimate: Moderate (~25–35% post-print on front-week expiries)

Skew: Call-heavy skew into strikes 335–347.5 with notable long-dated put IV support

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Avg moves historically in line or below model; expected move 1–3% range

Directional bias: No consistent directional bias; 4/4 beats but market reaction mixed

Key Levels

1EM guardrails: 2d $326.47/$338.12; 1w $321.49/$343.09
2Max pain pins: $335 (2026-04-22); $325 (2026-04-24); $330 (2026-04-27)

Flow Highlights

Large front-week call prints at 337.5/340/335 with heavy volume and OI

Dealer delta sells supporting pin near 335–340

Net premium positive; unusual long-dated put and deep-call OI walls

Structural call supply above 350 and put floor 200–215 limit extreme downside

Strategies

Front‑week Iron Condor
Sell 2026-05-01 $320.00/$315.00 put wing and $340.00/$355.00 call wing
Credit: $4.98-$6.09
Max loss: $8.91
Max gain: $6.09
BE: 313.91 / 346.09
Trigger: Close or widen wings if price breaches 335–340; take profits on >50% credit capture.
Capped risk to monetize pinning and rich front‑week IV vs back month.
Outperforms: Sell 5/1 320/315 put wing and 340/355 call wing to collect skewed premium while limiting tail exposure.
Underperforms: Move outside short strikes invalidates range thesis.
340 Call Calendar
Sell 2026-05-01 $340.00 call / buy 2026-06-18 $340.00 call
Debit: $7.34-$8.97
Max loss: $8.97
Max gain: Variable
BE: Path-dependent
Trigger: Roll short or buy back if price escapes above pin band or front IV collapses.
Exploits front‑week IV > back‑month while keeping upside exposure.
Outperforms: Sell 5/1 340 call, buy 6/18 340 call to harvest front vega and retain longer‑dated optionality.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short Strangle
Sell 2026-05-01 $320.00 put + sell $340.00 call
Credit: $11.52-$14.08
Max loss: Unlimited
Max gain: $14.08
BE: 305.92 / 354.08
Trigger: Hedge or cut if underlying breaks pin range or on outsized IV moves.
Maximizes premium but has unlimited upside risk if pin breaks.
Outperforms: Sell 5/1 320 put and 340 call to monetize elevated front IV and expected crush.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Pinning risk leading to low realized move and gamma-driven squeezes
!IV crush may still leave tail IV in longer expiries
!Market weakness (SPY -0.65%) could amplify downside if pin breaks

What to Watch

?Postures around 335–340 into close and into print
?Front-week IV and volume change vs expected crush
?Unusual prints follow-through (337.5/340 calls)
How to Use These Reports
This earnings reflects the market close on April 21, 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.