GOOGL
Alphabet Inc.Close $380.34EOD onlyThis page reflects GOOGL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
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You are viewing an older report from April 14, 2026. A newer flow report is available for May 26, 2026.
View latest reportFlow Verdict
Watch next session: Further call premium / OI flow at $330-$335 (same-dated expiries); Put flow or roll activity into $300-$320 strikes that would reduce dealer GEX
Flow Summary
Net premium: +$271.4M bullish
P/C volume ratio: 0.50 — call-dominant (heavy call flow today)
P/C OI ratio: 0.82 — moderate call lean in positioning (OI still shows sizable put base)
Notable Prints
Read-through: Significant flow into 4/17 downside protection but not large enough in notional to offset the heavy call premium; consistent with selective hedging rather than broad institutional risk-off.
Read-through: Adds to dealer short-call exposure around $335 and reinforces pinning pressure just above spot into the 4/15 expiry.
Read-through: Largest single-dollar exposure among prints — institutional bullish conviction into the imminent expiry; dealers likely short-delta and buying stock as hedge, supporting the pin at/above spot.
Read-through: Not insignificant notional and sits near strong GEX concentration at $330; dealers may delta-hedge these buys, but net call skew dominance keeps overall bias bullish.
Read-through: Adds to short-term put interest but economically small; doesn't materially change dealer GEX or offset the large call premium.
Institutional Positioning
Call additions: Concentrated additions at $320-$335 (premium leaders: $330 net $44,896,666; $320 net $33,719,519; $335 net $17,218,314) with heavy OI at $345 (55,634) and $340/$335/$330 clusters — clear institutional call accumulation centered just above and around spot.
Put additions: Selective short-dated put buys at $322.50, $330 and $320 show targeted downside protection but total put dollar flow is small relative to call premium; longer-dated protective OI exists at $200-$215 but not active intraday.
GEX/DEX consistency: Yes — positive Total GEX +$265.1M and DEX +84.6M shares align with bullish flow and pinning behavior (dealers are net short calls and short-gamma, likely buying underlying into upticks).
OI clusters: $345 call wall (55,634 OI), $340-$335-$330 strong call concentrations (51,531; 50,097; 28,598 respectively); largest put clusters are far lower ($250/$310/$280) — call OI creates resistance/magnet region between $330-$345.
Hedging evidence: Some near-term protective put activity (4/15 & 4/17 at $322.50, $330, $320) consistent with tactical hedging or collars, but not enough aggregate notional to offset call-driven dealer short-gamma. No widespread large-scale collars detected in the near-term chains.
Max pain context: Max pain for the nearest expiries is lower ($312 on 4/15, $300 on 4/17), but spot is above MP and trend shows MP drifting lower; heavy call activity is keeping spot elevated and creating short-call dealer hedging that pins toward the $330-$345 band rather than MP.
Signal vs Noise
Key Conclusions
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