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GOOGL

Alphabet Inc.Close $387.66EOD only
Max Pain
$385.00
Next expiry May 22, 2026
Expected Move
±$5.24
1.4% from close
Price Gap
-2.66
Distance to max pain
IV Rank
28
Middle-high premium
P/C OI
0.92
Balanced positioning
Consensus
9.5/10
Bullish tilt
Published snapshot: May 21, 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 21, 2026 close
GOOGL Theta Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Bull put spread
Invalidation: Spot breaks below $385 or above $410
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.7% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
IV 40.68% vs VIX 16.76, elevated premiums
Favorable?
Yes

Term structure: Upward sloping, near-term put IV 83% suggests event risk

⚠️Near-term put IV extreme; manage risk

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+102.3M)

OI concentrations: Call wall $410-$450, put floor $215, no heavy put OI

Verdict: Low pin risk, spot at max pain $385-$390

Premium Opportunities

#1
Put credit spread
Sell 2026-06-12 $375.00/$365.00 put spread
Selling overpriced put spread to capture premium decay.
Credit: $2.23-$2.72
Max loss: $7.28
BE: $372.28
Mgmt: Monitor invalidation level $385; close if breached.
#2
Cash-secured put
Sell 2026-06-12 $370.00 cash-secured put
Collecting inflated premium with share assignment risk.
Credit: $4.05-$4.95
Max loss: $365.05
BE: $365.05
Mgmt: Manage assignment if spot below $370; roll if needed.

Risk Alerts

!High put IV indicates event risk
!Call resistance at $410 may cap upside
How to Use These Reports
This theta reflects the market close on May 21, 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.