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GOOGL

Alphabet Inc.Close $348.29EOD only
Max Pain
$342.50
Next expiry Oct 9, 2026
Expected Move
±$4.81
1.4% from close
Price Gap
-5.79
Distance to max pain
IV Rank
9
Low premium
P/C OI
0.66
Slightly call-heavy
Consensus
4.5/10
Consensus signal
Published snapshot: Oct 8, 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
Oct 8, 2026 close
GOOGL Theta Report
Analysis based on market close May 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 26, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Short Put Credit Spreads
Invalidation: Break below $385 max pain or VIX spike above 20
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.0% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Elevated - avg IV 39.8% vs VIX 17.0%
Favorable?
Yes

Term structure: Steep contango front month (0-1 DTE: 8% to 20%); abnormal put IV spike at 3 DTE (92.35%) suggests event risk.

📈IV vs VIX favorable for premium selling.
⚠️Put IV spike at 3 DTE indicates event risk.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+159.5M)

OI concentrations: Max pain $385 (spot), call wall $410-450, put floor $215.

Verdict: Spot near max pain, pinning likely at $385.

Premium Opportunities

#1
Put credit spread
Sell 2026-06-26 $380.00/$365.00 put spread
Sell $380/$365 put spread to collect elevated IV premium (39.8% vs VIX 17%) with defined risk.
Credit: $4.00-$4.89
Max loss: $10.11
BE: $375.11
Mgmt: Close at 50% max profit or if GOOGL breaches $385 invalidation.
#2
Iron condor
Sell 2026-06-26 $380.00/$365.00 put wing and $400.00/$410.00 call wing
Sell $380/$365 put wing and $400/$410 call wing to profit from range-bound move.
Credit: $6.53-$7.98
Max loss: $7.02
BE: 372.02 / 407.98
Mgmt: Adjust wings if spot moves beyond 380-400, or close at 50% profit.

Risk Alerts

!Gamma flip risk low; no put OI below spot.
!Put skew elevated; caution on OTM puts.
How to Use These Reports
This theta reflects the market close on May 26, 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.