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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 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

GOOGL earnings 31d out; 100% beat rate but spot below max pain. Heavy 0DTE call buying suggests bullish positioning.

Confidence:
4.5 / 10
base 5; -1 GEX/flow contradict; -0.5 spot 4.2% from MP; +1 VIX 17
Most important: Massive 0DTE call buying ($352.5C, $357.5C, $360C) with high vol/oi ratios — aggressive bullish speculation.
📈Aggressive 0DTE call buying 300x vol/oi — speculative bullish bet.
🤔100% beat rate but spot below max pain — potential selloff if no catalyst.
⚠️Put OI concentration at $320 creates floor; if broken, gamma acceleration downside.

Regime Classification

Vol Regime
Normal
Gamma Regime
Trending
Flow Regime
Bullish
Spot vs MP
Below
Gamma flip: ~$320.00 — Approx — based on put OI concentration of 17,318 (8.5% below spot)

Earnings Overview

Next earnings: 2026-07-23 (31 days)explicit

Expected moves:

  • 2026-06-24 (2d): ±$7.68 (2.2%)
  • 2026-06-26 (4d): ±$10.85 (3.1%)
  • 2026-06-29 (7d): ±$12.65 (3.6%)

IV Setup

Term structure: Near-term IV upward (2d ~32%, 4d ~35%); earnings IV likely higher, not yet priced.

Crush estimate: Earnings-week IV crush estimated 50-70% post-event.

Skew: Put floor $320 (8.5% below spot) with high OI; call walls $400-$450.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: N/A; consistent beats suggest upside bias.

Directional bias: Bullish (5/5 beats).

Key Levels

1$320.00 gamma flip
2EM guardrails: 2d $342.00/$357.35; 1w $337.03/$362.33
3Max pain pins: $365 (2026-06-22); $360 (2026-06-24); $365 (2026-06-26)

Flow Highlights

Unusual 0DTE call buying: 40k+ vol on $352.5C with near-zero OI, plus large Jun 24/26 call sweeps.

Dealers delta-hedge long calls → gamma squeeze potential; aggressive near-term bullish positioning.

Strategies

Iron Condor on GOOGL
Sell 2026-07-17 $340.00/$335.00 put wing and $360.00/$365.00 call wing
Credit: $2.97-$3.63
Max loss: $1.37
Max gain: $3.63
BE: 336.37 / 363.63
Trigger: Monitor gamma near earnings; adjust wings if spot breaks range.
Captures IV crush with defined risk; aligned with bullish bias but hedged upside.
Outperforms: Sell put and call wings around expected range, collect premium from elevated IV.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar on GOOGL
Sell 2026-07-17 $360.00 call / buy 2026-07-31 $360.00 call
Debit: $5.40-$6.60
Max loss: $6.60
Max gain: Variable
BE: Path-dependent
Trigger: Close short leg if spot approaches strike before expiry.
Profits from IV crush on short leg while maintaining upside exposure post-earnings.
Outperforms: Sell pre-earnings call (high IV) and buy post-earnings call (lower IV) to capture volatility contraction and bullish move.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short Strangle on GOOGL
Sell 2026-07-24 $340.00 put + sell $360.00 call
Credit: $17.30-$21.15
Max loss: Unlimited
Max gain: $21.15
BE: 318.85 / 381.15
Trigger: Set stop loss or adjust if spot approaches strikes.
Simple premium collection from IV crush but unlimited risk; suitable only if comfortable with range.
Outperforms: Sell out-of-the-money put and call to collect premium as IV collapses.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Spot near $350 resistance; max pain for Jun 24/26 at $360-$365. VIX 17 but SPY/QQQ down. Gamma flip risk if spot drops below $320 put wall.

What to Watch

?Near-term gamma levels: $342 support / $357 resistance.
?Unusual call OI decay or assignment.
?Macro (SPY, QQQ, VIX) continuation.
?Earnings date Jul 23 anticipation.
How to Use These Reports
This earnings reflects the market close on June 22, 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.