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GS

Goldman Sachs Group, Inc. (The)Close $1096.56EOD only
Max Pain
$1040.00
Next expiry Jun 26, 2026
Expected Move
±$39.33
3.6% from close
Price Gap
-56.56
Distance to max pain
IV Rank
100
High premium
P/C OI
1.11
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 18, 2026 close
End-of-day snapshot

This page reflects GS options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 18, 2026 close
GS Directional Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

Bullish bias underpinned by strong GEX/flow alignment ($+23.8M, bullish flow) and gamma pinning near $1000-$1040 strikes. Spot ~$1095 (9.7% above MP) introduces risk. Regime: normal vol, pinning, bullish flow. Key levels: resistance $1135.89 (1w), support $1044.34. Target upper range with caution near guardrails.

Confidence:
8 / 10
Base 5. GEX/flow alignment (+2), GEX positive pinning (+1), spot 9.7% from MP (-1), VIX 16 (+1). Net 8.
Supports: Strong GEX (+$23.8M), bullish flow, gamma pinning, VIX supportive.
Conflicts: Spot 9.7% above max pain, resistance at $1135.89.
📈Dealer gamma $23.8M positive, pinning near key strikes
⚠️Spot 9.7% above MP; reversal risk if momentum fades
📊VIX 16 supports trending conditions

Regime Classification

Vol Regime
Normal
IV normal relative to realized; no volatility expansion.
Gamma Regime
Pinning
GEX +$23.8M, positive gamma near $1000-$1040 strikes creates pinning effect.
Flow Regime
Bullish
Net premium flow bullish, call buying dominant.
Spot vs Max Pain
Above
Spot at ~$1095 is 9.7% above MP $1000; above pinning strikes.
Thesis duration: Multi-week — Multiple expiry pins (Jun18-Jun26-Jul2) and wide range suggest sustained bullish thesis.

Price Range Forecast

Next 1 week
$1057.24$1135.89
Resistance $1135.89, support $1057.24.
Next 2 weeks
$1044.34$1148.79
Target upper boundary $1148.79, support $1044.34.

Key Levels

Max pain pins: $1000 (2026-06-18); $1040 (2026-06-26); $1035 (2026-07-02)
EM guardrails: 1w $1057.24/$1135.89
Support: $1044.34 · $1000.00
Resistance: $1100.00 · $1120.00 · $1148.79
Gamma flip: ~$925.00 — Approx — based on put OI concentration of 2,735 (15.6% below spot)
Structural: Max pain pins: $1000 (Jun18), $1040 (Jun26), $1035 (Jul2). EM guardrails: 1w $1057.24/$1135.89. Support $1044.34 (2w) and $1000. Resistance $1100, $1120, $1148.79. Gamma flip ~$925.

Dealer Positioning (GEX/DEX)

GEX: $+23.8M

DEX: +11.4M shares

Gamma flip: ~$925 (Approx — based on put OI concentration of 2,735 (15.6% below spot))

NTM gamma: GEX +$23.8M, DEX +11.4M shares, gamma flip at ~$925 (15.6% below spot).

IV Analysis

IV vs VIX: GS IV near VIX 16.4; not rich/cheap versus vol. Normal vol regime.

Term structure: Term structure flat; no major event kinks. Focus on weekly expiries.

Skew: Skew neutral; no actionable vol structure opportunity.

Flow Analysis

Net premium: Net premium +$547M, call volume 1.4x puts, OI put-heavy 1.11. Bullish flow with aggressive call buying.

Directional prints: 35.2 call 1300 OTM 2027-03-19 — Vol 297 OI 146, ratio 2.0. Long-dated OTM call likely bought for bullish directional exposure. 41.5 call 1110 OTM 2026-06-18 — Vol 435 OI 212, ratio 2.0. Near-term call, high IV, likely bought. 35.1 call 1430 OTM 2026-11-20 — Vol 236 OI 139, ratio 1.7. Leaps call, bullish long-term bet.

Unusual: 12.9 put 1100 ITM 2026-06-18 — Vol 805 OI 225, ratio 3.6, low IV. Possible bearish hedge or put selling? Preferred read: bearish if bought, but could be spread. 10.7 put 1090 OTM 2026-06-18 — Vol 560 OI 168, ratio 3.3, near-zero premium. Unusual volume, likely sold or cheap hedge. 315.6 put 695 OTM 2026-06-18 — Vol 221 OI 116, ratio 1.9, extreme IV 315%. Deep OTM put? Unclear direction, high tail risk bet.

Risks & Catalysts

!Spot far from MP (9.7%) could trigger pullback if momentum weakens.
!Resistance at $1135.89 may cap near-term upside.
!Gamma flip at $925 poses crash risk if breached.

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bull call spreadModerate
Buy 2026-07-17 $1120.00/$1180.00 call spread
Why now: Bullish flow and gamma pinning near $1000-$1040; capture rally to resistance $1135 with defined risk
Resistance at $1135 may cap; earnings miss could reverse
Put credit spreadModerate
Sell 2026-07-17 $1020.00/$960.00 put spread
Why now: Spot 9.7% above MP but support at $1044; premium harvest with defined risk
Pullback below $1044 could test spread width; earnings gap risk
Bullish risk reversalModerate
Buy 2026-07-24 $1110.00 call / sell 2026-07-24 $1010.00 put
Why now: Aggressive bullish flow in long-dated calls; risk reversal captures upside with lower cost
Unlimited put tail if spot collapses; earnings gap risk Liquidity constraints: long_call: Open interest below 25.; short_put: Open interest below 25.

Top Plays

#1
Bull Call Spread
Buy 2026-07-17 $1120.00/$1180.00 call spread
Buy $1120/$1180 call spread to profit from rally to $1135 resistance.
Why this play: Best alignment with bullish flow and gamma pinning; defined risk captures upside to resistance.
Debit: $17.51-$21.40
Max loss: $21.40
BE: $1141.40
Mgmt: Exit near $1135 or if spot drops below $1044.
Traders seeking moderate bullish exposure with capped risk.
#2
Put Credit Spread
Sell 2026-07-17 $1020.00/$960.00 put spread
Sell $1020/$960 put spread to collect premium with support at $1044.
Why this play: Harvests premium at support with defined risk; safer given spot above MP.
Credit: $7.22-$8.83
Max loss: $51.17
BE: $1011.17
Mgmt: Close if spot nears $1044 or if momentum turns bearish.
Income-focused traders expecting support to hold.
#3
Bullish Risk Reversal
Buy 2026-07-24 $1110.00 call / sell 2026-07-24 $1010.00 put
Buy $1110 call, sell $1010 put for long delta at lower cost.
Why this play: High reward potential but liquidity fail reduces suitability.
Debit: $24.77-$30.28
Max loss: $1010.00
BE: $1010.00
Mgmt: Monitor liquidity; close early if illiquid. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.; short_put: Open interest below 25.
Aggressive traders with high risk tolerance.

Watchlist Triggers

Entry Triggers
IFIF spot pulls back to test support ~$1044 with bullish momentum → THEN buy the 2026-07-17 $1120/$1180 call spread (gs_001)
IFIF spot holds above $1044 support → THEN sell the 2026-07-17 $1020/$960 put spread (gs_002) for premium
Exit Triggers
EXITIF spot rallies to $1135 resistance → THEN exit gs_001 bull call spread to lock profits
EXITIF spot breaks below $1044 invalidation level → THEN close all bullish positions (gs_001, gs_002)

Tactical Summary

Bullish bias with gamma pinning near $1000-$1040. Spot at $1095, 9.7% above MP. Key support $1044, resistance $1135. Trade bull call spread or put credit spread, but watch for pullback if momentum weakens. Avoid risk reversal due to liquidity failure.
How to Use These Reports
This directional reflects the market close on June 18, 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.