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GS

Goldman Sachs Group, Inc. (The)Close $1106.37EOD only

Max Pain

$1050.00

Next expiry Jun 26, 2026

Expected Move

±$32.65

3.0% from close

Price Gap

-56.37

Distance to max pain

IV Rank

Low premium

P/C OI

1.03

Balanced positioning

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 22, 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 22, 2026 close

GS Directional Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

GS has a bullish bias supported by positive dealer gamma and spot above MP, but faces resistance near $1100. Trade ranges are confined with pinning expectations.

Confidence:

8 / 10

Base normal regime (5), GEX/flow aligned (+2), GEX positive pinning (+1), spot 3.7% above MP (-0.5), VIX 19 (+0.5).

Supports: Positive dealer gamma, spot above MP, normal vol environment.
Conflicts: Mixed flow, resistance at $1100.

🟢Positive GEX: Dealer gamma supports pinning near $1055.

🔴Resistance at $1100 could cap upside short-term.

🟡Spot 3.7% above MP (1055) implies slight bullish bias.

Regime Classification

Vol Regime

Normal

IV is normal; VIX at 19.49 indicates no stress.

Gamma Regime

Pinning

Positive GEX ($10.5M) supports pinning; gamma flip ~$925 (far from spot).

Flow Regime

Mixed

Mixed net premium; P/C not extreme.

Spot vs Max Pain

Above

Spot above MP ($1055) by 3.7%, slight bullish tilt.

Thesis duration: Multi-week — Normal vol, positive gamma pinning, and stable ranges favor a multi-week horizon.

Price Range Forecast

Next 2 days

$1063.56$1125.31

Supported by gamma pinning; resistance at $1100.

Next 1 week

$1046.79$1142.09

Range $1046-$1142; positive GEX supports upside.

Next 2 weeks

$1032.39$1156.49

Wider range $1032-$1156; resistance at $1156 cap.

Key Levels

Max pain pins: $1055 (2026-06-26); $1045 (2026-07-02); $1070 (2026-07-10)

EM guardrails: 2d $1063.56/$1125.31; 1w $1046.79/$1142.09

Support: $1055.00 · $1032.39

Resistance: $1100.00 · $1156.49 · $1200.00

Gamma flip: ~$925.00 — Approx — based on put OI concentration of 2,735 (15.5% below spot)

Structural: Max pain $1055/1045/1070; EM 2d $1063/$1125, 1w $1046/$1142; Support $1055, $1032; Resistance $1100, $1156, $1200; Gamma flip ~$925.

Dealer Positioning (GEX/DEX)

GEX: $+10.5M

DEX: +9.9M shares

Gamma flip: ~$925 (Approx — based on put OI concentration of 2,735 (15.5% below spot))

NTM gamma: $+10.5M GEX, +9.9M DEX; gamma flip ~$925 (based on put OI 15.5% below spot).

IV Analysis

IV vs VIX: Ticker IV likely in line with VIX 19.49 given normal regime.

Term structure: Short-term implied volatilities stable; no significant event kinks.

Skew: Put skew elevated at strikes below spot; opportunity to sell puts for premium.

Flow Analysis

Net premium: Positive $188.6M net premium; P/C vol 1.11 but call premium dominates; bullish.

Directional prints: 35.2 call 1300 OTM 2027-03-19 — Vol 2.3x OI, aggressive bought; bullish directional bet. 34.2 call 1400 OTM 2027-01-15 — Vol 1.8x OI, consistent with accumulation; likely bought.

Unusual: 157.8 put 620 OTM 2026-06-26 — Extreme IV 157.8% with tiny premium $0.01; likely zero-day hedge or distressed sale; unusual. 33.7 call 1400 OTM 2026-12-18 — Vol 2.4x OI, likely bought; bullish long call positioning. 34.8 call 1430 OTM 2026-11-20 — Vol 1.7x OI on high strike 1430; unusual long shot call; likely bought.

Risks & Catalysts

!Break below $1055 support could accelerate selling.

!Gamma flip at $925 if spot drops 15.5%.

!Bearish reversal if positive gamma erodes.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-07-17 $1080.00/$1100.00 call spread Why now: Positive dealer gamma and spot above MP support upside, but $1100 resistance caps. Spread reduces cost.	Upside capped at $1100; break below $1055 support would hurt. Liquidity constraints: long_call: Volume below 5.
Put credit spread	Moderate	Sell 2026-07-17 $1060.00/$1040.00 put spread Why now: Support at $1055 provides floor; near-term bullish lean favors put credit sale.	Losses if spot breaks below $1055, accelerating selling.
Call calendar	Moderate-Weak	Sell 2026-07-10 $1100.00 call / buy 2026-07-24 $1100.00 call Why now: Earnings catalyst near, but expected follow-through; sell front-week premium, own later expiry.	Stagnant spot or vol crush reduce profitability; need directional movement post-earnings. Liquidity constraints: short_call: Volume below 5.; long_call: Volume below 5.

Top Plays

Put Credit Spread

Sell 2026-07-17 $1060.00/$1040.00 put spread

Sell put spread to collect premium while market holds above support.

Why this play: Liquid and directly benefits from support at $1055, matching bullish near-term lean.

Credit: $6.66-$8.14

Max loss: $11.86

BE: $1051.86

Mgmt: Close if spot breaks below $1055.

Traders expecting range-bound price action above $1055.

Bull Call Spread

Buy 2026-07-17 $1080.00/$1100.00 call spread

Buy call spread to profit from limited upside within a defined risk.

Why this play: Capped upside at $1100 resistance but cost-efficient with bullish bias.

Debit: $9.52-$11.63

Max loss: $11.63

BE: $1091.63

Mgmt: Exit if spot drops below $1055. Liquidity warning: Liquidity constraints: long_call: Volume below 5.

Traders seeking upside exposure with a tight risk profile.

Call Calendar

Sell 2026-07-10 $1100.00 call / buy 2026-07-24 $1100.00 call

Sell short-term call, buy later expiry to capture post-earnings drift.

Why this play: Leverages earnings catalyst but lower liquidity and more time decay risk.

Debit: $13.07-$15.98

Max loss: $15.98

BE: Path-dependent

Mgmt: Monitor gamma risk near expiry; adjust if spot approaches $1100. Liquidity warning: Liquidity constraints: short_call: Volume below 5.; long_call: Volume below 5.

Traders expecting a moderate move higher after earnings.

Watchlist Triggers

Entry Triggers

IFIF spot holds above $1055 support for 1 hour → SELL 2026-07-17 $1060/$1040 put credit spread at $6.66-$8.14

IFIF spot breaks above $1065 with volume → BUY 2026-07-17 $1080/$1100 bull call spread at $9.52-$11.63

Exit Triggers

EXITIF spot drops below $1055 → CLOSE all bullish positions

Tactical Summary

GS bullish bias with support at $1055 and resistance at $1100. Top play is put credit spread. Bull call spread if breakout. Invalidation at $1055. Manage risk around earnings on 2026-07-14.

How to Use These Reports

This directional reflects the market close on June 23, 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.