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GOOGL

Alphabet Inc.Close $387.66EOD only
Max Pain
$397.50
Next expiry May 20, 2026
Expected Move
±$6.72
1.7% from close
Price Gap
+9.84
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
0.91
Balanced positioning
Consensus
9.0/10
Bullish tilt
Published snapshot: May 19, 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
May 19, 2026 close
GOOGL Theta Report
Analysis based on market close May 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 15, 2026. A newer theta report is available for May 19, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Aggressive
Primary: Sell put spreads or call credit spreads near resistance
Invalidation: Spot breaks below $387.73 support or VIX rises above 20
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 18.4% from MP; +0.5 VIX 18

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 47% vs VIX 18.4, elevated premium
Favorable?
Yes

Term structure: 0DTE skew extreme (put IV 214%), rest contango ~33%

📈Bullish flow & pinning at $395
⚡0DTE put IV >200% offers high premium
🔒Call wall $450 caps upside

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+169.6M)

OI concentrations: Max pain: $335, $395, $390; Call wall $450; Put floor $215

Verdict: Moderate pin risk, skewed bullish; gamma flip not triggered

Premium Opportunities

#1
Put credit spread
Sell 2026-06-18 $375.00/$360.00 put spread
Sell 375/360 put spread, capturing time decay and implied volatility premium.
Credit: $2.79-$3.41
Max loss: $11.59
BE: $371.59
Mgmt: Close at 50% max gain or if spot breaks below 387.73.
#2
Iron condor
Sell 2026-06-18 $375.00/$360.00 put wing and $420.00/$435.00 call wing
Sell 375/360 put wing and 420/435 call wing, profiting from time decay and range-bound price action.
Credit: $5.74-$7.01
Max loss: $7.99
BE: 367.99 / 427.01
Mgmt: Close at 50% max gain or adjust if spot nears either short strike.

Risk Alerts

!0DTE extreme skew may cause pinning
!Spot 18% above max pain $335
!Large call OI at $450 may act as resistance
How to Use These Reports
This theta reflects the market close on May 15, 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.