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GOOGL

Alphabet Inc.Close $346.13EOD only
Max Pain
$347.50
Next expiry Jun 24, 2026
Expected Move
±$5.55
1.6% from close
Price Gap
+1.37
Distance to max pain
IV Rank
5
Low premium
P/C OI
0.75
Slightly call-heavy
Consensus
5.5/10
Consensus signal
Published snapshot: Jun 23, 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 23, 2026 close
GOOGL Earnings Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Earnings 7/23; 100% beat rate; bullish flow; IV moderate.

Confidence:
5.5 / 10
base 5; -1 GEX/flow contradict; +1 spot 0.6% from MP; +0.5 VIX 19
Most important: 100% beat streak and net positive call flow signal bullish bias.
📊5/5 beat streak; consistent positive surprises.
💰Net call premium $19M; heavy OTM call buying at $355 and $357.5.

Regime Classification

Vol Regime
Normal
Gamma Regime
Trending
Flow Regime
Bullish
Spot vs MP
At
Gamma flip: ~$320.00 — Approx — based on put OI concentration of 17,503 (7.3% below spot)

Earnings Overview

Next earnings: 2026-07-23 (29 days)explicit

Expected moves:

  • 2026-06-26 (2d): ±$8.55 (2.5%)
  • 2026-06-29 (5d): ±$10.65 (3.1%)
  • 2026-07-01 (7d): ±$13.62 (3.9%)

IV Setup

Term structure: Near-term IV low (~2.5% for 2d), rising into earnings.

Crush estimate: Moderate crush post-earnings (⅓-½ of implied).

Skew: Put skew elevated at $350+ strikes; $350 put unusual volume.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not calc'd but 100% beat rate historically positive.

Directional bias: Bullish given consistent beats.

Key Levels

1$320.00 gamma flip
2EM guardrails: 2d $336.74/$353.84; 1w $334.64/$355.94
3Max pain pins: $348 (2026-06-24); $352 (2026-06-26); $350 (2026-06-29)

Flow Highlights

Large $350 put volume 23.8k vs 611 OI, likely hedging.

Big buyer protecting downside; not bearish outright.

Net premium +$19.3M, put/call vol 0.47 favoring calls.

Bullish flow ahead of earnings.

Strategies

Bull Call Spread
Buy 2026-07-24 $370.00/$380.00 call spread
Debit: $2.23-$2.72
Max loss: $2.72
Max gain: $7.28
BE: $372.72
Trigger: Exit if GOOGL drops below $340 invalidation.
Direct bullish bet on continued beats; cheap entry with defined risk.
Outperforms: Buys upside exposure limited to $380, financing by selling higher strike.
Underperforms: Loss of support weakens upside continuation thesis.
Short strangle
Sell 2026-07-24 $325.00 put + sell $370.00 call
Credit: $10.71-$13.09
Max loss: Unlimited
Max gain: $13.09
BE: 311.91 / 383.09
Bullish bias but limited upside; high post-earnings IV provides premium.
Outperforms: Sell premium post-earnings to capture IV crush, range-bound expected.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Iron condor
Sell 2026-07-24 $330.00/$325.00 put wing and $365.00/$370.00 call wing
Credit: $2.45-$3.00
Max loss: $2.00
Max gain: $3.00
BE: 327.00 / 368.00
Lower tail risk than strangle, defined max loss.
Outperforms: Harvest premium with defined wings post-earnings.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Spot near $345; support $340 (breakdown risk to $326).
!Earnings event: implied move ~4% but actual could be larger.
!VIX 18.6; not low vol environment adds tail risk.

What to Watch

?Unusual $350 put and $352.5 call activity for signs of positioning.
?IV expansion in final week before earnings (7/23).
How to Use These Reports
This earnings reflects the market close on June 24, 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.