GOOGL

Watch next session: Follow additional volume and OI change at $320/$325 calls (Apr 13–15 expirations); Watch net premium and P/C volume — a flip toward puts would invalidate bullish read

Net premium: +$19.7M bullish

P/C volume ratio: 0.75 — call-dominant (call volume ~33% heavier than puts)

P/C OI ratio: 0.86 — moderate call lean in positioning (calls have higher OI but not extreme)

Call additions: $320–$330 strikes concentrated in Apr expirations and call flow at $335–$365 in later expirations — clear additions to upside exposure

Put additions: $300–$312.50 puts show some activity but much smaller notional relative to call flow; larger put OI exists far lower ($200–$215) indicating longer‑term downside floors rather than near‑term hedges

GEX/DEX consistency: Yes — positive Total GEX $137.3M and DEX +70.1M shares align with bullish/pinning flow centered ~1% above spot (notably $320 concentration).

OI clusters: $345 call OI 57,108 and $340 call OI 40,687 create longer‑term resistance bands; near‑term OI clusters at $320 (1,285 OI), $325 (1,215 OI) and $310 puts (3,569 OI) create a short‑dated magnet between $315–$325.

Hedging evidence: Dealer GEX positive suggests dealers are long gamma; evidence of modest protective put activity at $300–$312.50 but no large scale collars apparent — most flow reads as directional calls rather than balanced collars.

Max pain context: Max pain for nearby expiries sits $302 (today) → $310 (4/13); spot $317.24 sits above near‑term MP, but concentrated GEX at $320/$325 together with call flow implies dealers will try to pin into the $320 area.