thetaOwl
HomeOptionsGOOGLReports

GOOGL

Alphabet Inc.Close $343.71EOD only
Max Pain
$350.00
Next expiry Jun 26, 2026
Expected Move
±$6.40
1.9% from close
Price Gap
+6.29
Distance to max pain
IV Rank
8
Low premium
P/C OI
0.76
Slightly call-heavy
Consensus
5.0/10
Bullish tilt
Published snapshot: Jun 25, 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 25, 2026 close
GOOGL Earnings Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

GOOGL earnings on 2026-07-23 with 100% beat rate. Flow bullish, IV elevated, spot below max pain. Near-term pinning likely.

Confidence:
4 / 10
base 5; -1 GEX/flow contradict; -0.5 spot 3.6% from MP; +0.5 VIX 18
Most important: Heavy call accumulation at 342.5/345 suggests bullish skew; put floor at 320-330.
🔥56k call volume at $345 strike expiring today; unprecedented for this strike.
⚠️0dte put volume at $337.5 (29.5k) suggests hedged protection; watch for reversal.

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 17,546 (5.2% below spot)

Earnings Overview

Next earnings: 2026-07-23 (27 days)explicit

Expected moves:

  • 2026-06-29 (3d): ±$3.72 (1.1%)
  • 2026-07-01 (5d): ±$11.08 (3.3%)
  • 2026-07-02 (6d): ±$12.17 (3.6%)

IV Setup

Term structure: Contango; 0dte IV ~19%, 5dte ~24%, 6dte ~33% for puts. Event IV not yet priced in.

Crush estimate: ~5-8% post-earnings on front-week ATM options.

Skew: Put skew elevated (33-35% IV) post-market decline; calls relatively cheap.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not calculated; beat rate 100% last 5 quarters.

Directional bias: No clear bias; moves mixed post-earnings.

Key Levels

1$320.00 gamma flip
2EM guardrails: 2d $333.67/$341.12; 1w $326.32/$348.47
3Max pain pins: $350 (2026-06-26); $348 (2026-06-29); $350 (2026-07-01)

Flow Highlights

Unusual call volume: 36k at $342.5C (28.6x OI), 56k at $345C (13.5x OI), both 0dte expiring today.

Aggressive bullish bets likely hedging or speculation; potential gamma squeeze if above $345.

Strategies

Bullish Calendar Spread
Sell 2026-07-17 $355.00 call / buy 2026-08-21 $350.00 call
Debit: $9.65-$11.80
Max loss: $11.80
Max gain: Variable
BE: Path-dependent
Trigger: Monitor IV; close if front-week IV collapses or back-month premium expands rapidly.
Exploits contango and bullish flow, defined risk, theta positive.
Outperforms: Sell front-week $355 call, buy back-month $350 call to profit from IV convergence and time decay.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short Strangle
Sell 2026-07-24 $320.00 put + sell $365.00 call
Credit: $8.16-$9.98
Max loss: Unlimited
Max gain: $9.98
BE: 310.02 / 374.98
Trigger: Set stop-loss if spot breaks below $320 or above $365; adjust wings as earnings approach.
Captures elevated IV within clear support/resistance, no directional bias required.
Outperforms: Sell $320 put and $365 call to profit from range-bound movement and IV crush.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Iron Condor
Sell 2026-07-24 $320.00/$305.00 put wing and $365.00/$380.00 call wing
Credit: $4.00-$4.90
Max loss: $10.10
Max gain: $4.90
BE: 315.10 / 369.90
Trigger: Consider wider wings if liquidity improves; exit early if pinning near wings. Liquidity warning: Liquidity constraints: long_put: Wide spread (60%).
Defined risk, range-bound outlook, but lower liquidity may impact execution.
Outperforms: Sell put wing $320/$305 and call wing $365/$380 to collect premium within a defined range.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Spot below $340 resistance; 0dte max pain at $350 could pull price higher if call holders unwind.
!Put walls at $320-$330 provide support; breach below $330 could accelerate selloff.
!Earnings 27 days out; near-term IV crush may underprice event move.

What to Watch

?Pre-earnings guidance or analyst revisions.
?Overall tech sector (QQQ) direction; correlation high.
?Flow at $345 strike: gamma exposure may drive pin action.
How to Use These Reports
This earnings reflects the market close on June 26, 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.