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GOOGL

Alphabet Inc.Close $324.22EOD only
Max Pain
$340.00
Next expiry Oct 23, 2026
Expected Move
±$4.80
1.5% from close
Price Gap
+15.78
Distance to max pain
IV Rank
9
Low premium
P/C OI
0.74
Slightly call-heavy
Consensus
4.5/10
Consensus signal
Published snapshot: Oct 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
Oct 22, 2026 close
GOOGL Theta Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 9, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Sell put credit spreads near $370 max pain
Invalidation: Spot breaks below $362 support or above $380 resistance
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.5% from MP; +0.5 VIX 20

IV Environment

IV Regime
Normal
IV vs VIX
IV 42.4% vs VIX 19.9% → premium rich
Favorable?
Yes

Term structure: Near-term elevated, put skew steep on 6/12 (78.7%)

💰IV/VIX >2 → selling premium attractive
📈Dealer long gamma $74.6M supports pinning

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+74.6M)

Gamma flip: ~$345.00 — Approx — based on put OI concentration of 16,472 (5.3% below spot)

OI concentrations: Put wall $345 (16.5K), Call wall $400-$500; PC OI ratio 0.85

Verdict: Pinning likely $362-$370; gamma flip risk at $345

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $355.00/$345.00 put spread
Sell $355/$345 put spread; IV elevated, max pain near $370, limited risk.
Credit: $2.90-$3.55
Max loss: $6.45
BE: $351.45
Mgmt: Close at 50% profit or if spot nears $362.50 invalidation.
#2
Iron condor
Sell 2026-07-17 $355.00/$345.00 put wing and $370.00/$375.00 call wing
Sell put wing $355/$345 and call wing $370/$375; pinning expected.
Credit: $4.50-$5.50
Max loss: $4.50
BE: 349.50 / 375.50
Mgmt: Adjust if breach of $362-$370; close at 50% profit.
#3
Short strangle
Sell 2026-07-17 $355.00 put + sell $380.00 call
Sell $355 put and $380 call; high credit but undefined risk.
Credit: $17.23-$21.07
Max loss: Unlimited
BE: 333.93 / 401.07
Mgmt: Active monitoring; roll or hedge on IV spikes.

Risk Alerts

!Gamma flip at $345 on put unwind
!High put IV 6/12 indicates tail risk
How to Use These Reports
This theta reflects the market close on June 9, 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.