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HOOD

Robinhood Markets, Inc.Close $76.75EOD only

Max Pain

$78.00

Next expiry May 15, 2026

Expected Move

±$3.31

4.3% from close

Price Gap

+1.25

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.70

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 13, 2026 close

End-of-day snapshot

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

Published Snapshot

May 13, 2026 close

HOOD Directional Report

Analysis based on market close May 13, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

HOOD likely rallies toward $78 max pain this week, supported by positive gamma pinning and spot below MP. Confidence base 6.5 with tailwinds from VIX 18. Upside capped at $78 resistance; break above opens $82. Downside risk to $70 if gamma flip triggered.

Confidence:

6.5 / 10

Base 5; -1 GEX/flow contradict; +1 GEX positive pinning; +0.5 spot 1.6% from MP; +1 VIX 18.

Supports: Positive GEX, spot below MP, VIX elevated, SPY/QQQ positive.
Conflicts: Mixed flow, high vol regime, resistance at MP $78.

🎯Gamma pin at $78 drives short-term pull

⚠️Mixed flow and high vol add uncertainty

🔑Gamma flip at $70 is key downside risk

Regime Classification

Vol Regime

High

High IV vs typical range; VIX at 17.87 supports elevated vol.

Gamma Regime

Pinning

Positive $28.4M GEX with pinning near $78 max pain; gamma flip at $70.

Flow Regime

Mixed

Mixed net premium; P/C ratio balanced, no extreme skew.

Spot vs Max Pain

Below

Spot at ~76.8 is 1.6% below $78 max pain, gravitational pull upward.

Thesis duration: Event-specific — Max pain pins at $78 for May15 and May22 expiries indicate short-term pinning dynamics.

Price Range Forecast

Next 2 days

$73.44$80.06

Gamma pinning and spot below MP suggest pull to $78.

Next 1 week

$70.77$82.73

Continued pinning; break above $78 opens upside to $82.

Next 2 weeks

$69.15$84.35

Range $69-$84; upside bias with gamma support at $70.

Key Levels

Max pain pins: $78 (2026-05-15); $78 (2026-05-22); $76 (2026-05-29)

EM guardrails: 2d $73.44/$80.06; 1w $70.77/$82.73

Support: $75.00 · $70.00 · $69.15

Resistance: $78.00 · $82.00 · $84.35

Gamma flip: ~$70.00 — Approx — based on put OI concentration of 18,480 (8.8% below spot)

Structural: Max pain pins: $78 (May15/22), $76 (May29). Support $75/$70/$69.15. Resistance $78/$82/$84.35. Gamma flip at $70.

Dealer Positioning (GEX/DEX)

GEX: $+28.4M

DEX: +47.8M shares

Gamma flip: ~$70 (Approx — based on put OI concentration of 18,480 (8.8% below spot))

NTM gamma: GEX +$28.4M, DEX +47.8M shares; positive gamma pinning near $78, flip at $70.

IV Analysis

IV vs VIX: HOOD IV rich vs VIX given high vol regime; elevated implied vol suggests risk premium.

Term structure: Term structure likely upward sloping with event kinks near weekly expirations.

Skew: Put skew elevated; potential to sell puts at $70 support given gamma flip.

Flow Analysis

Net premium: Net put premium -$2.49M; P/C vol ratio 0.59 indicates call volume dominance, suggesting bullish bias.

Directional prints: 63.7 put 71 OTM 2026-05-15 — Vol/OI 4.4x, heavy put buying at OTM $71 expiring soon; bearish hedge or outright purchase. Preferred read: bearish. 60.5 call 78 OTM 2026-05-22 — Vol/OI 4.3x, aggressive call buying at OTM $78 for next week; bullish bet. Preferred read: bullish.

Unusual: 63.7 put 71 OTM 2026-05-15 — Vol/OI 4.4x, huge OI build at deep OTM 71 put with 63.7% IV; high volume relative to OI suggests bearish conviction. 60.5 call 78 OTM 2026-05-22 — Vol/OI 4.3x, elevated call volume at OTM 78 with 60.5% IV; atypical for near-term expiry. 78 put 40 OTM 2026-07-17 — Vol/OI 1.6x, deep OTM put with 78% IV; long-dated bearish speculation or tail hedge.

Risks & Catalysts

!Break below $70 gamma flip

!SPY reversal

!Delta hedging de-pinning

!Liquidity gap

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-05-29 $83.00/$84.00 call spread Why now: Spot below MP, resistance at 78, near-term bullish gamma pin.	Capped upside; loss if spot reverses below 75.
Put credit spread	Moderate	Sell 2026-05-29 $70.00/$66.00 put spread Why now: Positive gamma near 70, VIX moderate, tail risk hedged.	Loss if spot breaks below 70; gap risk.
Long call	Moderate	Buy 2026-05-29 $80.00 call Why now: Call volume dominance, low put/call ratio, momentum bias.	Theta decay; spot must move before expiration.

Top Plays

Safe Bullish: Put Credit Spread

Sell 2026-05-29 $70.00/$66.00 put spread

Sell put spread to collect premium while benefiting from bullish bias and downside protection.

Why this play: Matches gamma pin support at $70 and moderate VIX, offers high probability with defined risk.

Credit: $0.59-$0.72

Max loss: $3.28

BE: $69.28

Mgmt: Close at 50% profit or if spot breaks below $70.

Conservative trader seeking high probability, limited risk.

Upside Call Spread

Buy 2026-05-29 $83.00/$84.00 call spread

Buy call spread to capture upside if resistance breaks, with limited loss if not.

Why this play: Targets break above $78 resistance using gamma pin and call volume dominance.

Debit: $0.15-$0.18

Max loss: $0.18

BE: $83.18

Mgmt: Exit if spot fails at $78 or drops below $75.

Moderate bull expecting near-term rally to $84.

Aggressive Long Call

Buy 2026-05-29 $80.00 call

Buy OTM call for unlimited upside potential if momentum continues.

Why this play: Leverages call volume and low put/call ratio but higher risk given resistance.

Debit: $2.33-$2.85

Max loss: $2.85

BE: $82.85

Mgmt: Set stop-loss at 30% premium erosion or break below $75.

Aggressive trader with high risk tolerance.

Watchlist Triggers

Entry Triggers

IFIF HOOD spot holds above $75 support → Sell HOOD 2026-05-29 $70/$66 put credit spread for $0.59-$0.72 credit

IFIF HOOD spot breaks above $78 resistance → Buy HOOD 2026-05-29 $83/$84 call spread for $0.15-$0.18 debit

Exit Triggers

EXITIF HOOD spot breaks below $70 gamma flip level → Close all bullish positions

Tactical Summary

Bullish bias to $78/$82, supported by gamma pin. Use put credit spread below support, call spread on breakout. Exit on gamma flip at $70.

How to Use These Reports

This directional reflects the market close on May 13, 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.