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GOOGL

Alphabet Inc.Close $339.32EOD only
Max Pain
$325.00
Next expiry Apr 24, 2026
Expected Move
±$6.70
2.0% from close
Price Gap
-14.32
Distance to max pain
IV Rank
33
Middle-high premium
P/C OI
0.90
Balanced positioning
Consensus
6.5/10
Bullish tilt
Published snapshot: Apr 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
Apr 22, 2026 close
GOOGL Earnings Report
Analysis based on market close April 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Bullish pinning into earnings; confidence 8/10 driven by aligned GEX/flow and concentrated call prints clustered pre-earnings around $340–$345.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.5% from MP; +0.5 VIX 19
Most important: Pre-earnings flow and GEX indicate pinning around $335–$342 into the 2026-04-29 event.
📌Pre-earnings flow clusters support pinning near $335–$342.
⚠️Front-month IV elevated; expect ~25% post-event crush as dealer hedges unwind.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above

Earnings Overview

Next earnings: 2026-04-29 (6 days)explicit

Expected moves:

  • 2026-04-24 (1d): ±$4.59 (1.4%)
  • 2026-04-27 (4d): ±$6.81 (2.0%)
  • 2026-05-01 (8d): ±$19.92 (5.9%)

IV Setup

Term structure: Front-month IV materially elevated vs. mid-dated expiries; longer-dated IV flatter.

Crush estimate: Expected front-month IV drop ~25% after the release (range ±5%) driven by high pre-event implied skew and anticipated unwind of dealer gamma/call hedges.

Skew: Put interest concentrated ~335–337.5; call skew pre-event pronounced but not extreme.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Beat rate 100% (4/4); realized post-event moves historically smaller than option-implied 1d moves.

Directional bias: Slight bullish bias (pre-earnings call-heavy flow and pinning signals).

Key Levels

1EM guardrails: 2d $334.30/$343.49; 1w $318.97/$358.82
2Max pain pins: $328 (2026-04-24); $335 (2026-04-27); $320 (2026-05-01)

Flow Highlights

Large call prints 4/27 at 340–345 strikes plus concentrated front-week activity 4/24–4/27.

Dealer delta selling from these pre-earnings calls supports pinning into the 335–342 zone.

Heavy front-week put prints 4/24–4/27 clustered 335–337.5.

Protective puts reinforce a short-dated gamma pocket around max-pain.

Strategies

Defined-risk iron condor
Sell 2026-05-01 $320.00/$307.50 put wing and $357.50/$372.50 call wing
Credit: $3.69-$4.50
Max loss: $10.50
Max gain: $4.50
BE: 315.50 / 362.00
Trigger: Trim/close on breach of wings or if front-month IV drops >15% pre-close; tighten if flow re-centers outside $335–342.
Highest risk-adjusted yield capturing the $320–372 range implied by pinning while capping gap loss.
Outperforms: Sell 5/01 320/307.5 put wing and 357.5/372.5 call wing to harvest front-month skew with limited downside.
Underperforms: Move outside short strikes invalidates range thesis.
Call diagonal (sell front, buy mid)
Sell 2026-05-01 $350.00 call / buy 2026-06-18 $390.00 call
Credit: $1.31-$1.60
Max loss: $0.01
Max gain: Variable
BE: Path-dependent
Trigger: Buy back short leg if price rallies above 357.5 or if front IV compresses >20%; roll long if momentum continues.
Exploits elevated front-month IV vs mid-dated and slight bullish flow while preserving upside.
Outperforms: Sell 5/01 350 call, buy 6/18 390 call to collect decay and keep directional optionality.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Bull call spread at pin
Buy 2026-05-01 $335.00/$350.00 call spread
Debit: $6.14-$7.51
Max loss: $7.51
Max gain: $7.49
BE: $342.51
Trigger: Take profit into $342–350 or if IV crush exceeds 25%; cut if price falls below 327.5.
Aligns with slight bullish bias and pin zone while limiting vega/crush risk vs naked calls.
Outperforms: Buy 5/01 335/350 call spread to capture upside toward pin zone.
Underperforms: Loss of support weakens upside continuation thesis.
Short strangle
Sell 2026-05-01 $320.00 put + sell $360.00 call
Credit: $5.47-$6.69
Max loss: Unlimited
Max gain: $6.69
BE: 313.31 / 366.69
Front-month IV rich, call-heavy pinning ~335–342; collect premium expecting ~25% IV crush post-release.
Outperforms: Sell elevated front-month calls and puts vs. pin zone to collect premium into/through earnings.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Crush estimation risk ±5% from release tone and realized vol divergence.
!Directional gap risk if results materially beat or miss consensus.
!Macro market drift (SPY/QQQ) can overwhelm localized pinning flow.

What to Watch

?Price action vs. $335–$342 pin zone pre-close
?Front-month IV moves and spread vs mid-dated IV
?New flow/unusual prints in the 24–48 hours before the print
How to Use These Reports
This earnings reflects the market close on April 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.