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GS

Goldman Sachs Group, Inc. (The)Close $1094.44EOD only

Max Pain

$1055.00

Next expiry Jun 26, 2026

Expected Move

±$30.88

2.8% from close

Price Gap

-39.44

Distance to max pain

IV Rank

Low premium

P/C OI

1.03

Balanced positioning

Consensus

7.5/10

Bullish tilt

Published snapshot: Jun 23, 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 23, 2026 close

GS Directional Report

Analysis based on market close June 24, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias supported by strong GEX pinning and dealer long positioning, but cautious on overhead resistance at 1100 and mixed flow. Multi-week range hold likely.

Confidence:

8.5 / 10

Base 5; +2 GEX/flow aligned; +1 GEX pinning; +0.5 VIX 18.6

Supports: GEX +8.3M positive, DEX +9.8M shares, max pain pins at 1055/1060, spot above MP
Conflicts: Flow mixed, resistance at 1100, gamma flip at 925

🚀GEX +8.3M bullish dealer positioning

📉Resistance at 1100 may cap upside

⚖️Mixed flow suggests uncertainty

Regime Classification

Vol Regime

Normal

Vol normal, consistent with VIX ~18.6, no expansion expected.

Gamma Regime

Pinning

Gamma positive and pinning near 1055, with strong dealer hedging support.

Flow Regime

Mixed

Flow mixed but overall net positive due to GEX; put activity concentrated lower.

Spot vs Max Pain

Above

Spot above MP 1055, pinning and dealer support suggests limited downside.

Thesis duration: Multi-week — Stable vol, pinning gamma, and bullish dealer position support range-bound optimism over multiple weeks.

Price Range Forecast

Next 2 days

$1051.11$1102.71

Support at 1051, resistance 1102; max pain 1055 pins.

Next 1 week

$1030.74$1123.09

Range 1030-1123, key resistance 1100.

Next 2 weeks

$1016.46$1137.36

Wide range 1016-1137, support at 1016.

Key Levels

Max pain pins: $1055 (2026-06-26); $1048 (2026-07-02); $1060 (2026-07-10)

EM guardrails: 2d $1051.11/$1102.71; 1w $1030.74/$1123.09

Support: $1055.00 · $1016.46

Resistance: $1100.00 · $1137.36 · $1150.00

Gamma flip: ~$925.00 — Approx — based on put OI concentration of 2,735 (14.1% below spot)

Structural: Max pain pins: $1055 (Jun26), $1048 (Jul2), $1060 (Jul10); EM guardrails: 2d $1051/$1102, 1w $1030/$1123; support $1055, $1016; resistance $1100, $1137, $1150; gamma flip ~$925.

Dealer Positioning (GEX/DEX)

GEX: $+8.3M

DEX: +9.8M shares

Gamma flip: ~$925 (Approx — based on put OI concentration of 2,735 (14.1% below spot))

NTM gamma: GEX +$8.3M, DEX +9.8M shares; gamma flip approx $925 (14.1% below spot).

IV Analysis

IV vs VIX: IV near VIX 18.6, not rich or cheap; neutral context.

Term structure: Normal term structure, no event kinks; stable throughout.

Skew: Skew neutral; no actionable vol structure opportunity.

Flow Analysis

Net premium: Net premium positive at $176.6M, but put/call volume ratio 1.15 suggests mixed bearish volume; overall bullish premium flow.

Directional prints: 98.8 put 840 OTM 2026-06-26 — Vol/OI 9.6, aggressive new put buying; bearish positioning preferred. 34.4 call 1400 OTM 2027-01-15 — Vol/OI 3.1, new call buying; bullish view preferred.

Unusual: 98.8 put 840 OTM 2026-06-26 — Highest vol/OI (9.6) with low OI; suggests abnormal put activity. 59.7 put 950 OTM 2026-06-26 — Vol/OI 6.0, concentrated put buying at 950 strike. 34.4 call 1400 OTM 2027-01-15 — Vol/OI 3.1, large call volume relative to open interest.

Risks & Catalysts

!Break below $1055 support could trigger selling.

!Gamma flip at $925 if spot drops sharply.

!Flow turning bearish would conflict with dealer long.

!Resistance at $1100 may cap rally.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-07-17 $1080.00/$1100.00 call spread Why now: Strong GEX pinning and dealer long positioning support rally to 1100; use spread to manage resistance risk.	Upside capped at 1100; if stock breaks below 1055 support, spread loses value.
Put credit spread	Moderate-Strong	Sell 2026-07-17 $1060.00/$1040.00 put spread Why now: Net bullish premium flow and dealer long positioning favor limited downside; sell put at support for income.	If stock breaks below 1055, spread moves against; gamma risk increases near expiration. Substitutions: short_put: resolved contract 2026-07-17 $1055.00 missing; used 2026-07-17 $1060.00.; long_put: resolved contract 2026-07-17 $1045.00 missing; used 2026-07-17 $1040.00.
Call calendar	Moderate	Sell 2026-07-10 $1080.00 call / buy 2026-07-17 $1080.00 call Why now: Sell pre-earnings IV premium, own back-month call to capture directional move after catalyst.	If stock drops or IV expands, calendar loses; requires directional move to profit.

Top Plays

Put Credit Spread

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

Sell put spread below support to collect premium in bullish bias.

Why this play: Net bullish premium flow and dealer long positioning support limited downside; selling put at support provides income with defined risk.

Credit: $7.15-$8.74

Max loss: $11.26

BE: $1051.26

Mgmt: Roll up or close if price breaks below invalidation.

Income-oriented traders wanting defined risk.

Bull Call Spread

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

Buy call spread to express bullish conviction while capping cost.

Why this play: Strong GEX pinning and dealer long positioning support rally to 1100; use spread to manage resistance risk.

Debit: $8.62-$10.53

Max loss: $10.53

BE: $1090.53

Mgmt: Close near expiration if near strike.

Traders expecting rally to resistance.

Watchlist Triggers

Entry Triggers

IFIF spot holds above $1055 with bullish momentum → THEN sell put credit spread (Sell 1060/1040 put spread) for income.

IFIF spot breaks above $1080 with volume → THEN buy bull call spread (Buy 1080/1100 call spread) targeting $1100.

Adjustment Triggers

ADJIF spot nears $1100 resistance → THEN take partial profits on bull call spread or roll up.

Exit Triggers

EXITIF spot breaks below $1055 → THEN close all bullish positions and flatten.

Tactical Summary

Bullish bias with support at 1055 and resistance at 1100. Dealer long and GEX pinning favor range hold. Ranked plays: Put credit spread for income, bull call spread for rally, call calendar for volatility crush. Invalidation at 1055. Monitor 1100 for profit-taking.

How to Use These Reports

This directional reflects the market close on June 24, 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.