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HOOD

Robinhood Markets, Inc.Close $88.33EOD only

Max Pain

$82.00

Next expiry Jun 5, 2026

Expected Move

±$2.97

3.4% from close

Price Gap

-6.33

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.63

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jun 4, 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

Jun 4, 2026 close

HOOD Directional Report

Analysis based on market close June 4, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias driven by strong bullish flow and positive gamma pinning with spot above max pain. Key risk: spot 7.7% above MP and resistance near $90-91.3.

Confidence:

8 / 10

Base 5, +2 GEX/flow aligned, +1 GEX positive pinning, -1 spot far from MP, +1 low VIX.

Supports: Bullish flow, positive gamma pinning, low VIX, upward momentum.
Conflicts: Spot far above MP, resistance cluster $90-$91.3, gamma flip at $75.

🟢Net gamma positive $101M provides strong pinning support

⚠️Spot 7.7% above max pain $82 for 6/5 expiry - potential pull

📈Bullish flow regime confirmed with positive premium

Regime Classification

Vol Regime

High

IV elevated relative to VIX (15.4) due to momentum; straddle implying significant move.

Gamma Regime

Pinning

GEX +$101M with strong put wall at $75; dealer hedging pins spot near current levels.

Flow Regime

Bullish

Net premium positive with bullish flow; puts delta-hedged upward, calls downward.

Spot vs Max Pain

Above

Spot ~$87.6 above max pain $82-83; 7.7% above MP increases gamma risk on retrace.

Thesis duration: Multi-week — No single event catalyst; sustained bullish flow and gamma support suggest directional drift over days to weeks.

Price Range Forecast

Next 2 days

$85.36$91.30

Resistance at $90-$91.3; spot likely test upper guardrail if momentum continues.

Next 1 week

$80.96$95.71

Support at $80.96, bullish bias with gamma tailwind; resistance at $95.71.

Next 2 weeks

$78.58$98.08

Wider range $78.58-$98.08; gamma flip at $75 provides floor, possible drift higher.

Key Levels

Max pain pins: $82 (2026-06-05); $83 (2026-06-12); $78 (2026-06-18)

EM guardrails: 2d $85.36/$91.30; 1w $80.96/$95.71

Support: $82.00 · $78.58

Resistance: $90.00 · $95.00 · $98.08

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 16,926 (15.1% below spot)

Structural: Support $82 (max pain 6/5), $78.58 (2w low); resistance $90, $95.71, $98.08; gamma flip at $75.

Dealer Positioning (GEX/DEX)

GEX: $+101.0M

DEX: +55.4M shares

Gamma flip: ~$75 (Approx — based on put OI concentration of 16,926 (15.1% below spot))

NTM gamma: GEX +$101M, DEX +55.4M shares; gamma flip at $75 based on put OI concentration.

IV Analysis

IV vs VIX: IV elevated vs VIX (15.4), suggesting priced-in event risk or high beta; regime confirms expensive vol.

Term structure: Front-month contango with premium reflecting uncertainty; 6/5 expiry elevated, may collapse post-expiry.

Skew: Put skew elevated relative to calls; consider selling put spreads below $80 for theta decay.

Flow Analysis

Net premium: Strong net positive premium ($98.3M) with extremely low P/C volume ratio (0.16) indicating aggressive call buying.

Directional prints: 60.7 call 90 OTM 2026-06-05 — Volume 48.7k vs OI 15.7k (ratio 3.1) indicates significant new buying; bought for upside exposure; preferred read: bullish. 56.6 call 86 ITM 2026-06-05 — Volume 42.8k vs OI 5.9k (ratio 7.2) suggests aggressive new long calls; bought for directional move; preferred read: bullish. 60.4 call 85 ITM 2026-06-05 — Volume 22.9k vs OI 8.0k (ratio 2.9) shows ongoing call accumulation; likely bought; preferred read: bullish.

Unusual: 67.7 call 91 OTM 2026-06-12 — Volume 3.3k vs OI 348 (ratio 9.6) extremely high relative to OI; suggests fresh call buying; preferred read: bullish. 67.3 call 87 ITM 2026-06-12 — Volume 6.8k vs OI 811 (ratio 8.4) indicates aggressive new buying in ITM call; bought for upside; preferred read: bullish. 56.6 call 86 ITM 2026-06-05 — Volume 42.8k vs OI 5.9k (ratio 7.2) very high ratio; suggests new long positions; bought; preferred read: bullish.

Risks & Catalysts

!Spot retracement to max pain $82-83

!Gamma flip if sell-off breaches $75

!Resistance rejection at $90-$91.3

!Macro or event risk from earnings

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Put credit spread	Moderate-Strong	Sell 2026-08-21 $75.00/$60.00 put spread Why now: Defined-risk premium sale benefiting from bullish momentum and support near $80.	Retracement below short put strike; gamma flip on sell-off below $75.
Bull call spread	Moderate	Buy 2026-08-21 $95.00/$115.00 call spread Why now: Heavy call volume and low put/call ratio suggest continued bullish demand.	Resistance at $90-91.3 may cap near-term gains; time decay if move stalls.
Bullish risk reversal	Moderate	Buy 2026-08-21 $100.00 call / sell 2026-08-21 $70.00 put Why now: Call premiums elevated, put premiums relatively cheap; positive gamma tailwind.	Unlimited downside if stock collapses below short put strike; margin requirement.

Top Plays

Bull Call Spread on HOOD

Buy 2026-08-21 $95.00/$115.00 call spread

Buy $95/$115 call spread for defined risk and unlimited upside up to $115.

Why this play: Directly captures aggressive call buying and low put/call ratio, with upside to $115.

Debit: $4.48-$5.47

Max loss: $5.47

BE: $100.47

Mgmt: Exit if stock drops below $82 or near target.

Traders wanting leveraged bullish exposure with capped risk.

Put Credit Spread on HOOD

Sell 2026-08-21 $75.00/$60.00 put spread

Sell $75/$60 put spread to collect premium, risking only if stock falls below $75.

Why this play: Benefits from bullish momentum and support near $80 with defined risk.

Credit: $3.15-$3.84

Max loss: $11.16

BE: $71.16

Mgmt: Monitor support; close if stock approaches $82.

Traders preferring income generation with a bullish outlook.

Bullish Risk Reversal on HOOD

Buy 2026-08-21 $100.00 call / sell 2026-08-21 $70.00 put

Buy $100 call and sell $70 put for net credit; gains if stock rises, loses if falls.

Why this play: Leverages cheap puts and elevated calls for positive gamma, but has unlimited upside and large loss potential.

Debit: $3.80-$4.65

Max loss: $70.00

BE: $70.00

Mgmt: Set stop-loss near $82; roll if volatility changes.

Aggressive traders comfortable with unlimited loss downside.

Watchlist Triggers

Entry Triggers

IFSpot holds above $82 and breaks above $85 → Buy $95/$115 call spread (HOOD 2026-08-21)

IFSpot trades above $80 with bullish momentum → Sell $75/$60 put spread (HOOD 2026-08-21)

Exit Triggers

EXITSpot drops below $82 → Exit all bullish plays: $95/$115 call, $75/$60 put, $100/$70 risk reversal

Tactical Summary

Bullish bias, spot 7.7% above max pain $82. Support $82, $78.58. Resistance $90, $95.71. Top plays target $115 (call spread) and income near $80 (put spread). Risk: retracement to $82 or rejection at $90. Gamma flip at $75.

How to Use These Reports

This directional reflects the market close on June 4, 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.