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GOOGL

Alphabet Inc.Close $376.37EOD only
Max Pain
$385.00
Next expiry Jun 3, 2026
Expected Move
±$7.10
1.9% from close
Price Gap
+8.63
Distance to max pain
IV Rank
37
Middle-high premium
P/C OI
0.93
Balanced positioning
Consensus
9.0/10
Bullish tilt
Published snapshot: Jun 1, 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 1, 2026 close
GOOGL Theta Report
Analysis based on market close April 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 17, 2026. A newer theta report is available for May 26, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Conservative
Primary: Sell defined-risk weekly/near-term premium: (A) 10–14 DTE put-credit spreads: sell ~25–30Δ put, buy ~15Δ put, width 2–4 pts; (B) 10–14 DTE short strangle sized to 1–1.5% account risk per leg (sell ~10Δ put / ~15–25Δ call depending skew). Roll rules: if spread/strangle hits 1.5–2× cost, roll out 10–14 DTE toward wings or reduce size; cut loss at 2× debit or on IV spike >+10 vols. Target delta and max loss limits enforced.
Invalidation: Sustained move below $310 or sharp VIX spike (>30) with heavy gap risk
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.2% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV elevated (~43%) vs VIX 17 — front-week (0–7 DTE) ATM IV collapsed while nearby put IVs stay rich
Favorable?
Yes

Term structure: Term structure: steep front-week skew (0–7 DTE), elevated near-term 8–30 DTE, mid-dates 30–90 DTE show ~30–40% IV — favors selling front-to-near-term skew. Note: short American options carry early-assignment risk; avoid oversized legs in thin strips and respect quoted bid/ask and size limits (use midpoint or NBBO execution rules).

📌Gamma pinning centered near $322–$325 supports spot anchoring
⚠️0d/3d IV dispersion high — gap/tail risk on catalysts

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+265.7M)

OI concentrations: Max-pain concentration at $310/$322/$325; notable OI cluster 310–320 with dealer GEX skew

Verdict: Elevated pin risk — positive dealer GEX increases anchoring probability; liquidity and early-assignment concentrated at these strikes, so cap size and stagger expiries to mitigate

Premium Opportunities

#1
Put credit spread
Sell 2026-05-08 $325.00/$315.00 put spread
Sell $325/$315 put spread (entry ~1.96–2.39) to collect rich put premium with max loss limited to 7.61. Targets short ~25Δ / long ~15Δ wings per guidance.
Credit: $1.96-$2.39
Max loss: $7.61
BE: $322.61
Mgmt: Cap size; stagger expiries; roll out/wing toward safety if position hits 1.5–2× cost; cut at 2× debit or if IV spikes >+10 vols; exit on sustained break below $320.5 or 6 days to earnings.

Risk Alerts

!Tail gap risk on earnings/catalyst
!Early-assignment and thin-market liquidity at concentrated strikes
!Rapid IV re-pricing undermines premium capture
How to Use These Reports
This theta reflects the market close on April 17, 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.