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GOOGL

Alphabet Inc.Close $382.97EOD only

Max Pain

$387.50

Next expiry May 26, 2026

Expected Move

±$5.76

1.5% from close

Price Gap

+4.53

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.90

Balanced positioning

Consensus

8.5/10

Bullish tilt

Published snapshot: May 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

May 22, 2026 close

GOOGL Theta Report

Analysis based on market close May 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

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

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.

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.