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HOOD

Robinhood Markets, Inc.Close $93.19EOD only

Max Pain

$81.00

Next expiry Jun 18, 2026

Expected Move

±$6.70

7.2% from close

Price Gap

-12.19

Distance to max pain

IV Rank

High premium

P/C OI

0.62

Slightly call-heavy

Consensus

7.5/10

Bullish tilt

Published snapshot: Jun 12, 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 12, 2026 close

HOOD Directional Report

Analysis based on market close June 12, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias due to strong dealer gamma pinning ($+156.1M GEX), bullish flow, and spot above max pain ($85). Upside limited near resistance at $95-$100; target upper range of $99.89 in 1 week.

Confidence:

8 / 10

Base 5; +2 GEX/flow alignment; +1 gamma pinning; -1 spot 9.6% above max pain; +1 VIX at 18.

Supports: Strong GEX/flow alignment, gamma pinning, bullish flow, VIX at 18.
Conflicts: Spot near resistance at $95-$100; gamma flip at $70 if spot drops sharply.

📈GEX +$156M: strong pinning support above $85

⚠️Resistance at $95-$100 caps near-term upside

✅Bullish options flow confirms sentiment

Regime Classification

Vol Regime

High

IV is High relative to typical range, consistent with elevated realized volatility and active options flow.

Gamma Regime

Pinning

GEX is +$156.1M (strongly pinning), gamma flip near $70 (well below spot), supportive of pinning dynamics.

Flow Regime

Bullish

Net premium positive with bullish tilt; put/call ratio suggests aggressive call buying.

Spot vs Max Pain

Above

Spot is above max pain ($85 for 6/12 expiry) and above gamma flip, indicating bullish dealer positioning.

Thesis duration: Event-specific — Gamma pinning and weekly expiry (6/12) create a defined horizon; price ranges extend 2 weeks but near-term pinning dominates.

Price Range Forecast

Next 1 week

$86.49$99.89

Gamma pinning toward $85 max pain, upside capped near $95 resistance. Range $86.49-$99.89.

Next 2 weeks

$83.39$102.99

Broader range $83.39-$102.99; support at $83.39, resistance at $102.99. Trend favors upside if $95 breaks.

Key Levels

Max pain pins: $85 (2026-06-12); $81 (2026-06-18); $80 (2026-06-26)

EM guardrails: 1w $86.49/$99.89

Support: $85.00 · $83.39

Resistance: $95.00 · $100.00 · $102.99

Gamma flip: ~$70.00 — Approx — based on put OI concentration of 15,883 (24.9% below spot)

Structural: Support: $85.0 (max pain 6/12), $83.39 (2w low). Resistance: $95.0, $100.0, $102.99 (2w high). Gamma flip ~$70. EM guardrails: 1w $86.49/$99.89. Max pain pins: $85 (6/12), $81 (6/18), $80 (6/26).

Dealer Positioning (GEX/DEX)

GEX: $+156.1M

DEX: +58.9M shares

Gamma flip: ~$70 (Approx — based on put OI concentration of 15,883 (24.9% below spot))

NTM gamma: GEX +$156.1M (strongly positive), DEX +58.9M shares (long delta). Gamma flip near $70 implies bullish dealer hedging; downside risk limited unless spot drops 25%+.

IV Analysis

IV vs VIX: Ticker IV is rich relative to VIX (17.68), typical for high-beta growth names; elevated vol supports premium pricing but risks IV crush on pinning.

Term structure: Term structure likely in contango due to event uncertainty; near-term expiry shows elevated IV from weekly OI concentration.

Skew: Put skew elevated; no clear vol arbitrage opportunity identified given current rich premium levels.

Flow Analysis

Net premium: Bullish: $90.96M net premium, call volume 3.2x puts, P/C vol ratio 0.31.

Directional prints: 10.2 call 94 OTM 2026-06-12 — Vol 43,299 vs OI 3,366 (12.9x), last 0.01 OTM, bought aggressively, open interest up suggests new bullish bets. 27.3 call 96 OTM 2026-06-12 — Vol 25,874 vs OI 3,052 (8.5x), last 0.01 OTM, similar bought for upside speculation.

Unusual: 10.9 put 93 OTM 2026-06-12 — Vol 12,983 vs OI 171 (75.9x), last 0.03 OTM, extreme vol/OI; likely hedging near expiry. 79.9 put 94 ITM 2026-06-12 — Vol 6,793 vs OI 149 (45.6x), last 1.02, high activity; possibly protective puts. 13.7 put 92 OTM 2026-06-12 — Vol 16,604 vs OI 545 (30.5x), last 0.01 OTM, also high vol/OI; possibly scalp/hedge.

Risks & Catalysts

!Gamma flip near $70 if spot declines sharply (~25% drop).

!Resistance at $95-$100 may cap upside and trigger reversal.

!High IV may contract post-expiry, hurting long premium positions.

!Macro or sector downturn could invalidate bullish flow.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-06-26 $94.00/$101.00 call spread Why now: Gamma pinning & bullish flow support move; resistance at $95-$100 justifies selling upper strike.	Upside capped; time decay if move not materialized.
Put credit spread	Moderate-Strong	Sell 2026-06-26 $84.00/$79.00 put spread Why now: Spot above max pain; sell put spread to benefit from bullish bias with defined tail risk.	If spot drops below short strike, max loss incurred.
Bullish risk reversal	Moderate	Buy 2026-06-26 $99.00 call / sell 2026-06-26 $84.00 put Why now: Bullish flow & gamma; risk reversal captures upside without capital outlay.	Unlimited downside from short put if spot declines sharply.

Top Plays

Bull Call Spread

Buy 2026-06-26 $94.00/$101.00 call spread

Buy $94 call, sell $101 call to profit from upside capped at resistance.

Why this play: Best aligns with bullish bias and resistance; defined risk, benefits from gamma pinning and net premium flow.

Debit: $2.19-$2.68

Max loss: $2.68

BE: $96.68

Mgmt: Exit at 50% gain or if spot falls below $85 invalidation.

Traders expecting gradual move up with defined risk.

Put Credit Spread

Sell 2026-06-26 $84.00/$79.00 put spread

Sell $84 put, buy $79 put to collect premium while staying above max pain.

Why this play: Directly profits from bullish bias with limited risk, but lower max gain than call spread.

Credit: $0.73-$0.90

Max loss: $4.10

BE: $83.10

Mgmt: Close at 50% of max gain or if spot drops near $85.

Income-focused traders with neutral-bullish outlook.

Bullish Risk Reversal

Buy 2026-06-26 $99.00 call / sell 2026-06-26 $84.00 put

Buy $99 call, sell $84 put for zero cost; profits if stock rises above $99.

Why this play: Unlimited upside but high tail risk; less suitable given resistance near $95-100.

Debit: $0.94-$1.15

Max loss: $84.00

BE: $84.00

Mgmt: Monitor closely; close if spot approaches $84 or if volatility collapses.

Aggressive traders seeking leveraged upside with unlimited risk below $84.

Watchlist Triggers

Entry Triggers

IFHOOD spot holds above $85.00 support (max pain) → Enter bull call spread: buy 2026-06-26 $94 call, sell $101 call for 2.19-2.68 credit

IFHOOD stays above $85.00 support → Enter put credit spread: sell 2026-06-26 $84 put, buy $79 put for 0.73-0.90 credit

Adjustment Triggers

ADJHOOD reaches $95.00 resistance → Take partial profits on bull call spread; tighten stops

Exit Triggers

EXITHOOD drops to $85.00 invalidation level → Close all bullish positions; avoid new entries

Tactical Summary

Bullish bias with gamma pinning at $85 and resistance near $95-100. Prefer defined risk: bull call spread (buy $94C/sell $101C) or put credit spread (sell $84P/buy $79P). Exit if $85 breaks. Earnings 7/29.

How to Use These Reports

This directional reflects the market close on June 12, 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.