thetaOwl
HomeOptionsGOOGLReports

GOOGL

Alphabet Inc.Close $368.03EOD only
Max Pain
$365.00
Next expiry Jun 22, 2026
Expected Move
±$6.35
1.7% from close
Price Gap
-3.03
Distance to max pain
IV Rank
100
High premium
P/C OI
0.82
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 18, 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 18, 2026 close
GOOGL Earnings Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

GOOGL earnings 35d out; bullish flow and pinning support; beat rate 100% (5/5).

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 12.4% from MP; +1 VIX 16
Most important: Net premium $125M call-heavy; put floor $320; call wall $400+; IV crush post-earnings.
💰Net premium $125M call-heavy
⚠️100% beat streak; reversion risk
📊Put floor $320 solid

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$320.00 — Approx — based on put OI concentration of 17,307 (13.1% below spot)

Earnings Overview

Next earnings: 2026-07-23 (35 days)explicit

Expected moves:

  • 2026-06-22 (4d): ±$6.35 (1.7%)
  • 2026-06-24 (6d): ±$10.22 (2.8%)
  • 2026-06-26 (8d): ±$12.67 (3.4%)

IV Setup

Term structure: Near-term IV elevated; earnings IV not fully priced; term structure upward-sloping.

Crush estimate: Estimated 30-50% IV crush post-earnings.

Skew: Put skew elevated at low strikes; call skew moderate.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not explicitly available; 100% beat rate implies potential upside bias.

Directional bias: Bullish bias from consistent beats and positive flow.

Key Levels

1$320.00 gamma flip
2EM guardrails: 1w $357.80/$378.25
3Max pain pins: $328 (2026-06-18); $365 (2026-06-22); $358 (2026-06-24)

Flow Highlights

Massive call buying at $362.5 (20x OI) and $420 (10x).

Aggressive bullish positioning; upside target above resistance.

Put at $367.5 sold low IV; put at $392.5 bought high IV.

Mixed: short puts low strikes, long puts high strikes as tail hedge.

Strategies

Bullish Calendar Call
Sell 2026-07-24 $375.00 call / buy 2026-08-21 $375.00 call
Debit: $6.53-$7.98
Max loss: $7.98
Max gain: Variable
BE: Path-dependent
Trigger: Close if stock drops below $351 invalidation; take profit at 50% of max gain.
Captures upside with IV crush benefit; 100% beat rate supports.
Outperforms: Short front-month call profits from post-earnings IV crush, long back-month preserves upside.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Bull Call Spread
Buy 2026-06-26 $385.00/$387.50 call spread
Debit: $0.27-$0.32
Max loss: $0.32
Max gain: $2.18
BE: $385.32
Trigger: Exit if stock breaches $351 support; target full gain at expiry.
Direct bullish bet with capped risk; high probability given consistent beats.
Outperforms: Buy $385/$387.5 call spread expiring before earnings to capture pre-earnings drift.
Underperforms: Loss of support weakens upside continuation thesis.
Pre-Earnings Iron Condor
Sell 2026-06-26 $350.00/$345.00 put wing and $390.00/$392.50 call wing
Credit: $0.62-$0.76
Max loss: $4.24
Max gain: $0.76
BE: 349.24 / 390.76
Trigger: Close at 50% max gain or before earnings; stop if stock breaks $345 or $390.
Exploits elevated IV before earnings with defined range; expires before event to avoid gamma risk.
Outperforms: Sell put wing at $350/$345 and call wing at $390/$392.5; profits from time decay and IV decline.
Underperforms: Move outside short strikes invalidates range thesis.
Long straddle
Buy 2026-07-24 $370.00 put + buy $370.00 call
Debit: $27.11-$33.14
Max loss: $33.14
Max gain: Unlimited
BE: 336.86 / 403.14
Elevated uncertainty and potential large move post-earnings.
Outperforms: Buy volatility for asymmetric earnings move.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Elevated uncertainty from 100% beat streak; miss more impactful.
!Call wall $400+ may cap upside.
!Gamma flip at $320; below risk accelerates.

What to Watch

?Earnings date confirmation and pre-announcements.
?Sustained call volume at $400+ strikes.
?Put OI concentration at $320 for floor strength.
How to Use These Reports
This earnings reflects the market close on June 18, 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.