thetaOwl

GOOGL

Alphabet Inc.Close $387.66EOD only
Max Pain
$397.50
Next expiry May 20, 2026
Expected Move
±$6.72
1.7% from close
Price Gap
+9.84
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
0.91
Balanced positioning
Consensus
9.0/10
Bullish tilt
Published snapshot: May 19, 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
May 19, 2026 close
GOOGL Flow Report
Analysis based on market close May 19, 2026

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

BiasBullish
Confirmation: Sustained call buying, positive GEX, net premium inflow
Invalidation: Surge in put volume or break below $380
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 18

Watch next session: May 20 weekly expiry; 390 and 400 call gamma

Flow Summary

Net premium: +$92.4M bullish

P/C volume ratio: 0.53

P/C OI ratio: 0.91

Aggressive call buying ahead of weekly expiry with $92M net premium. Positive gamma and delta. Unusual prints show large opening call volume. Market dip ignored. Bias confirmed.

Notable Prints

#1
GOOGL 2026-05-20 $390.00 Call
Vol: 19,651
OI: 152
Vol/OI: 129.3x
IV: 30.9%
Notional: ~$4.7M
Intent: Bullish speculation on major move
Dual read: Short covering or aggressive betting

Read-through: Strong bullish sentiment confirmed

#2
GOOGL 2026-05-20 $395.00 Call
Vol: 17,677
OI: 318
Vol/OI: 55.6x
IV: 31.4%
Notional: ~$1.8M
Intent: Further bullish bet near strike
Dual read: Part of a call spread

Read-through: Reinforces bullish view

#3
GOOGL 2026-05-20 $380.00 Put
Vol: 24,196
OI: 824
Vol/OI: 29.4x
IV: 29.9%
Notional: ~$2.1M
Intent: Large put buying for downside protection
Dual read: Bearish speculation or hedging

Read-through: Hedging demand indicates downside risk

#4
GOOGL 2026-06-26 $345.00 Put
Vol: 2,374
OI: 104
Vol/OI: 22.8x
IV: 34.8%
Notional: ~$712K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#5
GOOGL 2026-05-20 $387.50 Call
Vol: 1,492
OI: 124
Vol/OI: 12.0x
IV: 31.2%
Notional: ~$501K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: 390C/395C massive vol (129x and 56x OI). Also 387.5C, 397.5C, 400C.

Put additions: 380P 24k vol, 400P high IV 58%, 345P June protective.

GEX/DEX consistency: Both bullish: GEX+$77.9M, DEX+77.4M shares, gamma pinning.

OI clusters: 390C/395C/400C and 390P/380P OI clusters.

Hedging evidence: 400P high IV, 380P/390P protective.

Max pain context: Spot below MP; bullish flow and pinning push up.

Signal vs Noise

~390C/395C vol/oi ratios signal institutional buying.
~380P high vol but low IV - noise from retail.
~400P high IV signals hedging.
~345P June put likely institutional downside hedge.

Key Conclusions

📈Institutions buying 390/395 calls aggressively, bullish.
⚠️400P hedging with high IV, not bearish.
🟢GEX/DEX aligned, pinning upward.
How to Use These Reports
This flow reflects the market close on May 19, 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.