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GOOGL

Alphabet Inc.Close $339.32EOD only

Max Pain

$325.00

Next expiry Apr 24, 2026

Expected Move

±$6.70

2.0% from close

Price Gap

-14.32

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.90

Balanced positioning

Consensus

6.5/10

Bullish tilt

Published snapshot: Apr 22, 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 22, 2026 close

GOOGL Theta Report

Analysis based on market close April 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.5% from MP; +0.5 VIX 19

IV Environment

IV Regime

Normal

IV vs VIX

Avg IV 42.6 vs VIX 19 — elevated term IV with depressed near‑term ATM (1d ATM 23%) and extreme 1d put skew.

Favorable?

Term structure: Very steep 1d put skew (1d put IV ~89%) that normalizes by 1–2 weeks; mid‑term IV elevated (8–22d).

⚠️Extreme 1d put skew + short‑gamma dealer exposure — avoid naked premium or tighten sizing near expiries.

📌Max‑pain concentrations at $328/$335/$320 with dealer GEX +$144.9M — mechanical pinning likely, raising assignment/liquidity stress into expiries.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+144.9M)

OI concentrations: Concentrations: $328 (4/24), $335 (4/27), $320 (5/1). Large dealer GEX; dealers likely to hedge into expiries.

Verdict: High pinning probability; elevated short‑gamma and a likely localized gamma flip into listed expiries — increases price stickiness, assignment risk, and disorderly fills.

Premium Opportunities

Call diagonal

Sell 2026-05-29 $345.00 call / buy 2026-08-21 $380.00 call

Collect May premium while owning back-month call to cap assignment and tail risk.

Debit: $0.79-$0.96

Max loss: $0.96

BE: Path-dependent

Mgmt: Close or roll if sustained trade above $327.5 or IV term widens; trim into pinning.

Call diagonal

Sell 2026-05-29 $355.00 call / buy 2026-08-21 $400.00 call

Exploits depressed near-term vol vs back month; reduces naked short risk.

Debit: $0.14-$0.17

Max loss: $0.17

BE: Path-dependent

Mgmt: Exit/roll below $327.5 or on VIX>30; avoid enlarging size into expiry.

PMCC / LEAPS diagonal

Buy 2026-10-16 $335.00 call + sell 2026-05-29 $350.00 call

Own long-dated call and sell near-term calls to fund carry with defined LEAP downside.

Debit: $23.94-$29.26

Max loss: $29.26

BE: Path-dependent

Mgmt: Manage roll/assignment risk into pin; cut if close below $327.5 or IV shocks.

Risk Alerts

!Gap or close below $316 invalidates thesis

!VIX spike >30 or rapid IV term‑structure widening

!Assignment risk on short options and low liquidity near pins

!Have explicit roll/exit contingency and avoid enlarging short premium into expiries

!Unscheduled material news/earnings around expiries

How to Use These Reports

This theta reflects the market close on April 23, 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.