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GOOGL

Alphabet Inc.Close $332.91EOD only

Max Pain

$312.50

Next expiry Apr 15, 2026

Expected Move

±$2.32

0.7% from close

Price Gap

-20.41

Distance to max pain

IV Rank

100

High premium

P/C OI

0.82

Slightly call-heavy

Consensus

6.5/10

Range bias

Published snapshot: Apr 14, 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

Apr 14, 2026 close

GOOGL Theta Report

Analysis based on market close April 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot ~6.5% from MP; +0.5 VIX 18.36

IV Environment

IV Regime

Normal

IV vs VIX

Avg IV 41.5% vs VIX 18.36 — IV is elevated vs index vol (rich skew into longer-dated vols)

Favorable?

Yes

Term structure: Front-week IV depressed (1d ATM 22.4%), rising into 2-4 week curve (17d ATM 42.0%), then flattens ~33-37% beyond — good for selling 2-6 week premium where term structure is elevated

💰Average IV 41.5% is rich relative to VIX 18.36 — systemic premium for sellers

⏳17d ATM IV 42.0% is a local peak — 30–45 DTE still offers elevated theta

Pin Risk Assessment

Spot vs MP: Above by ~6.5% (spot $332.91 vs near-term MP $312.50 → $315.00 range)

GEX regime: Pinning (Total GEX +$265.1M concentrated at near strikes)

OI concentrations: Large call walls at $345 (55,634 OI), $340 (8,285–8,285 OI), heavy call flow at $330/$335; put floor concentrated at $200-$215 but near-term put clusters at $310 (9,304 OI) and $300 (7,445 OI)

Verdict: Favorable — positive GEX and near-term GEX concentration at $330 (+$46.5M) and $335 (+$10.5M) create a pin-magnet supporting short premium positions (particularly put spreads) as long as price stays above ~$328

Premium Opportunities

put spread

Sell 325/320 put spread exp 2026-05-15 (31 DTE)

Large GEX pin at $325/$330, bullish flow, and elevated mid-term IV (31–42% across the curve) support selling downside defined-risk in the 30–45 DTE band. 325 is OI-listed and ~2.4% below spot — offers decent edge vs expected move.

Credit: $1.10-$1.40

Max loss: $3.90

BE: 323.90

Mgmt: Take profit at 60–70% of max credit; roll down 1-2 strikes and out 2-4 weeks if price closes below $328.04; cut loss and close if spread trades at 50% of max loss or stock closes below $318 (beyond spread short strike) on daily basis

iron condor

Sell 320/315 put spread and 345/350 call spread exp 2026-05-15 (31 DTE)

Wide, defined-risk wings capture pins between strong GEX at 330/335 and heavy call OI at 345. Positive dealer gamma reduces wing-bleed risk near current spot; midsize credit with symmetric reward profile suits neutral-to-slightly-bullish flow.

Credit: $2.10-$2.80

Max loss: $2.20

BE: Lower: 317.90 / Upper: 347.80

Mgmt: Close at 50% of max profit; close/hedge if either short strike is tested intraday; roll the tested side out 2–4 weeks and widen by 1 strike only if net credit remains attractive

cash-secured put

Sell 330 put exp 2026-04-22 (8 DTE) — defined-risk via CSP (cash-secured)

Short-dated CSP into heavy call/call-flow at 330 (large net flow and GEX +$46.5M). Short-week premium is elevated in the near strikes due to concentrated flow; choose CSP (cash-secured) to avoid naked directional exposure through short-dated pinning events.

Credit: $0.95-$1.20

Max loss: Unlimited downside to assignment (stock long at $330) minus credit

BE: $329.05

Mgmt: Take profit at 50–60% of premium or roll down-and-out if assigned risk is acceptable; close if price closes below $328.04 or if IV spikes >10 pts intra-week

covered call

Long stock + sell 340 call exp 2026-05-15 (31 DTE)

If you own shares, selling 340C collects premium against the heavy upside call OI stack at 345 and benefits from pinning below 345. Elevated mid-term IV makes covered calls more attractive than naked calls.

Credit: $2.50-$3.50

Max loss: Downside on stock less collected premium

BE: $329.41

Mgmt: Take profit on call premium at 60% of max; buy back calls if stock rallies toward 340 within 7 calendar days of expiration to avoid assignment, or roll up-and-out for additional credit

Risk Alerts

!Earnings: 2026-04-23 and 2026-04-29 — avoid naked short premium across earnings; prefer defined-risk spreads or close before announcement

!Gamma/pinning concentration: GEX +$265.1M centered at $330-$335 can snap lower if dealers hedge quickly — watch for fast mean reversion and intraday squeezes

!Heavy call OI at $345 (55,634 OI) creates asymmetric upside cap; aggressive upside flow could compress call premiums and change range dynamics

!Unusual activity: concentrated call flow at $332.50-$335 (4/15 and 4/17 expirations) — short-term directional buy interest could drive intraday gaps into expiries

!IV term kink: front-week IV low (1d ATM 22.4%) while 17d+ IV spikes to ~42% — selling very short-dated naked premium is risky under flow; prefer defined-risk spreads or adjust sizing

Read the Theta analysis for GOOGL for 2026-04-14. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.