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HOOD

Robinhood Markets, Inc.Close $108.15EOD only

Max Pain

$97.00

Next expiry Jun 26, 2026

Expected Move

±$8.35

7.7% from close

Price Gap

-11.15

Distance to max pain

IV Rank

100

High premium

P/C OI

0.68

Slightly call-heavy

Consensus

7.5/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

HOOD Directional Report

Analysis based on market close June 22, 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 GEX/flow alignment and gamma pinning, though spot far above max pain ($99) adds reversion risk. High vol regime amplifies moves; near-term pin at $99 supports, but resistance at $110 key.

Confidence:

8 / 10

Base 5: GEX/flow alignment +2, GEX positive +1, spot vs MP -1, VIX +1 => 8

Supports: GEX $76.1M, bull flow, gamma pinning, VIX 17.3
Conflicts: Spot 6.8% above MP, high vol may cause sharp moves

📈GEX/flow strongly aligned; dealer hedging supports upside

⚠️Spot far above $99 max pain; pin risk if mean reversion occurs

📊High vol regime; weekly expiry key for gamma pin

Regime Classification

Vol Regime

High

High IV relative to typical range, amplified by bullish flow and gamma pinning

Gamma Regime

Pinning

Positive gamma with pin at $99 (Jun 26 expiry); no flip within 30%

Flow Regime

Bullish

Bullish net premium flow, dealer positioning supportive

Spot vs Max Pain

Above

Spot above max pain ($99), suggesting bullish bias but with reversion risk

Thesis duration: Event-specific — Near-term weekly expiry pin at $99 dominates; high vol, bullish flow, and spot above MP suggest pinning pressure

Price Range Forecast

Next 1 week

$95.76$115.66

Key support $99 (MP), resistance $110; stay long within range

Next 2 weeks

$93.36$118.06

Broader support $93.36, resistance $118.06; trend favors upside

Key Levels

Max pain pins: $99 (2026-06-26); $88 (2026-07-02); $90 (2026-07-10)

EM guardrails: 1w $95.76/$115.66

Support: $99.00 · $93.36

Resistance: $110.00 · $118.06

Structural: Max pain pins: $99 (Jun 26), $88 (Jul 2), $90 (Jul 10). EM guardrails 1w $95.76/$115.66. Support $99, $93.36. Resistance $110, $118.06.

Dealer Positioning (GEX/DEX)

GEX: $+76.1M

DEX: +52.3M shares

Gamma flip: N/A

NTM gamma: GEX +$76.1M, DEX +52.3M shares, no gamma flip near spot

IV Analysis

IV vs VIX: Ticker IV elevated vs VIX 17.3; high single-stock vol regime

Term structure: Front-end elevated due to weekly expiry; mild backwardation

Skew: Call skew elevated; consider call spreads for defined risk upside

Flow Analysis

Net premium: Net premium +$59.6M bullish, P/C vol ratio 0.40, OI ratio 0.65, strongly call-skewed.

Directional prints: 75.9 call 120 OTM 2026-06-26 — Vol/OI 3.6, new call buying; OTM call, bullish speculation. Prefer bullish. 72.1 call 112 OTM 2026-06-26 — Vol/OI 3.5, new call buying; ITM call, bullish confidence. Prefer bullish.

Unusual: 68.8 put 95 OTM 2026-07-02 — Vol/OI 13.3, new put buying; deep OTM, bearish speculation or hedge. Prefer bearish. 68.5 call 112 OTM 2026-07-02 — Vol/OI 8.1, new call buying; ITM call, bullish. Prefer bullish. 78.1 call 122 OTM 2026-06-26 — Vol/OI 4.5, new call buying; OTM call, speculative bullish. Prefer bullish.

Risks & Catalysts

!Spot reversion to $99 max pain within expiry

!High vol could cause sharp reversals off $110 resistance

!Failure to hold $99 support invalidates bullish thesis

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-07-31 $109.00/$125.00 call spread Why now: Call skew and unusual prints favor upside; defined risk limits gap loss.	Reversion to $99 max pain or rejection at $110. Liquidity constraints: long_call: Open interest below 25.
Put credit spread	Moderate-Weak	Sell 2026-07-31 $94.00/$86.00 put spread Why now: Strong call flow and GEX pinning support sold puts.	Downside vol spike or earnings miss invalidates. Liquidity constraints: short_put: Volume below 5.; long_put: Wide spread (119%).
Bullish risk reversal	Moderate	Buy 2026-07-31 $109.00 call / sell 2026-07-31 $89.00 put Why now: Elevated call vol vs put vol; unusual 120c print signals upside.	Unlimited downside if spot crashes through put strike. Liquidity constraints: long_call: Open interest below 25.; short_put: Wide spread (102%).

Top Plays

Bull Call Spread

Buy 2026-07-31 $109.00/$125.00 call spread

Long $109/$125 call spread targeting upside with capped loss.

Why this play: Defined risk aligns with call skew and unusual 120c print; limits gap loss.

Debit: $4.28-$5.23

Max loss: $5.23

BE: $114.23

Mgmt: Monitor 120c activity; exit if spot breaks $99. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.

Traders seeking defined risk bullish play.

Bullish Risk Reversal

Buy 2026-07-31 $109.00 call / sell 2026-07-31 $89.00 put

Long $109 call, short $89 put for zero cost upside.

Why this play: Upside unlimited via call; put sale funded by elevated call vol.

Debit: $4.96-$6.07

Max loss: $89.00

BE: $89.00

Mgmt: Roll put up if spot nears $89; take profit on call if $125. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.; short_put: Wide spread (102%).

High-conviction bulls comfortable with put assignment risk.

Put Credit Spread

Sell 2026-07-31 $94.00/$86.00 put spread

Sell $94/$86 put spread to collect premium with buffer.

Why this play: Bullish flow and GEX pinning support sold puts; lower return but safer.

Credit: $1.68-$2.06

Max loss: $5.94

BE: $91.94

Mgmt: Close if spot falls below $99; roll if needed. Liquidity warning: Liquidity constraints: short_put: Volume below 5.; long_put: Wide spread (119%).

Income-focused traders expecting no large drop.

Watchlist Triggers

Entry Triggers

IFIF spot holds above $99 support → THEN enter Bull Call Spread (buy $109/$125 call spread near $4.28-$5.23)

IFIF spot holds above $99 with bullish momentum → THEN enter Bullish Risk Reversal (buy $109 call, sell $89 put near even)

IFIF spot stays above $99 → THEN enter Put Credit Spread (sell $94/$86 put spread near $1.68-$2.06)

Adjustment Triggers

ADJIF spot reaches $110 resistance with wick or gamma flip → THEN take partial profit on call spreads and tighten risk

Exit Triggers

EXITIF spot breaks below $99 → THEN close all bullish positions

Tactical Summary

Bullish bias above $99 support, targeting $110-$118. Use defined-risk bull call spread, risk reversal, or put credit spread. Invalidate on $99 break. Adjust near $110 resistance.

How to Use These Reports

This directional reflects the market close on June 22, 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.