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HOOD

Robinhood Markets, Inc.Close $103.25EOD only

Max Pain

$100.00

Next expiry Jun 26, 2026

Expected Move

±$5.95

5.8% from close

Price Gap

-3.25

Distance to max pain

IV Rank

Low premium

P/C OI

0.66

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 23, 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 23, 2026 close

HOOD 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 thesis driven by strong GEX, bullish flow, and gamma pinning toward $100 max pain. Spot below resistance suggests upside potential in near term, but high vol and macro weakness add risk.

Confidence:

8.5 / 10

Base 5; +2 GEX/flow aligned; +1 gamma pinning; +0.5 VIX context; net 8.5.

Supports: GEX +$40.9M, bullish flow, spot below $100 max pain, gamma flip at $90 support.
Conflicts: QQQ down 0.42%, spot below gamma flip at $90, high vol unspecific.

🟢GEX +$40.9M strongly bullish; gamma pinning toward $100.

⚠️Spot below gamma flip at $90; failure to hold could trigger sell-off.

📊High vol and VIX 18.6 suggest large moves; monitor event risk.

Regime Classification

Vol Regime

High

IV elevated above typical range (VIX ~18.6), likely due to event premium.

Gamma Regime

Pinning

Pinning confirmed by $+40.9M GEX; gamma flip at ~$90 (7.4% below spot).

Flow Regime

Bullish

Bullish flow with positive net premium; low P/C ratio indicates call bias.

Spot vs Max Pain

Below

Spot ~$97 below max pain this week ($100) and next ($90), suggesting pin action to $100.

Thesis duration: Event-specific — High vol, pinning gamma, and bullish flow with spot below max pain suggest near-term directional bias to $100 by expiration.

Price Range Forecast

Next 2 days

$92.27$102.11

Gamma pinning and bullish flow support move to max pain $100.

Next 1 week

$88.57$105.82

Key resistance $100, support $90 gamma flip.

Next 2 weeks

$85.84$108.54

Structural resistance at $108; downside support at $85.

Key Levels

Max pain pins: $100 (2026-06-26); $90 (2026-07-02); $92 (2026-07-10)

EM guardrails: 2d $92.27/$102.11; 1w $88.57/$105.82

Support: $90.00 · $85.84

Resistance: $100.00 · $108.54

Gamma flip: ~$90.00 — Approx — based on put OI concentration of 12,954 (7.4% below spot)

Structural: Max pain pins: $100 (Jun26), $90 (Jul2); EM guardrails: 2d $92.27/$102.11, 1w $88.57/$105.82; support $90 (gamma flip), $85.84; resistance $100, $108.54.

Dealer Positioning (GEX/DEX)

GEX: $+40.9M

DEX: +47.9M shares

Gamma flip: ~$90 (Approx — based on put OI concentration of 12,954 (7.4% below spot))

NTM gamma: GEX +$40.9M, DEX +47.9M shares; gamma flip at ~$90 (put OI concentration 12,954).

IV Analysis

IV vs VIX: IV elevated vs VIX 18.6, implying event premium for near-term expiries.

Term structure: Likely contango with event kinks around Jun26, Jul2, Jul10 expiration dates.

Skew: Put skew elevated below $90; call skew moderate. Opportunity: sell puts at $90 support.

Flow Analysis

Net premium: Net premium: +$30.3M (calls), P/C 0.58, bullish.

Directional prints: 207 call 67 ITM 2026-06-26 — Vol/OI 24.6x; bought likely. 190.6 call 66 ITM 2026-06-26 — Vol/OI 21.6x; bought likely.

Unusual: 207 call 67 ITM 2026-06-26 — Extreme vol/OI; unusual call buy. 190.6 call 66 ITM 2026-06-26 — Extreme vol/OI; unusual call buy. 73 put 89 OTM 2026-07-02 — High vol/OI 18.8x; unusual put buy.

Risks & Catalysts

!Failure to hold $90 gamma flip could trigger stop losses.

!Broader market weakness (QQQ down) may cap upside.

!IV crush post-event or earnings could hurt long vol positions.

!Break below $85 structural support invalidates bullish thesis.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Weak	Buy 2026-07-31 $103.00/$118.00 call spread Why now: Defined-risk debit spread leverages bullish flow and high IV.	Max loss limited to debit; capped upside if rally exceeds short strike. Liquidity constraints: short_call: Wide spread (85%).
Put credit spread	Moderate-Strong	Sell 2026-08-21 $85.00/$75.00 put spread Why now: High IV and strong GEX at $90 justify selling put spreads.	Max gain limited to credit; max loss if stock drops below short strike.
Bullish risk reversal	Moderate-Weak	Buy 2026-08-21 $110.00 call / sell 2026-08-21 $80.00 put Why now: Bullish flow and term structure favor long calls; put premium offsets cost.	Short put exposes to downside tail; call premium may decay if stock stalls.

Top Plays

Put Credit Spread

Sell 2026-08-21 $85.00/$75.00 put spread

Sell $85/$75 put spread to collect premium; bullish bias with support.

Why this play: Best fit: strong GEX at $90, high IV, defined risk, high probability.

Credit: $2.42-$2.96

Max loss: $7.04

BE: $82.04

Mgmt: Exit if HOOD breaks below $90; consider rolling down.

Moderate bullish traders seeking income with defined risk.

Bullish Risk Reversal

Buy 2026-08-21 $110.00 call / sell 2026-08-21 $80.00 put

Buy $110 call, sell $80 put for leveraged upside at limited net cost.

Why this play: Unlimited upside; put premium offsets cost; suits strong bullish view.

Debit: $2.59-$3.16

Max loss: $80.00

BE: $80.00

Mgmt: Monitor closely; stop loss at $90 on put side.

Aggressive traders confident in upward momentum.

Bull Call Spread

Buy 2026-07-31 $103.00/$118.00 call spread

Buy $103/$118 call spread to profit from rally; capped risk/reward.

Why this play: Defined risk but liquidity concern; strikes above $100 max pain.

Debit: $3.78-$4.61

Max loss: $4.61

BE: $107.61

Mgmt: Exit on target or if stock falls below $90. Liquidity warning: Liquidity constraints: short_call: Wide spread (85%).

Traders accepting lower liquidity for capped risk.

Watchlist Triggers

Entry Triggers

IFHOOD holds above $90 support (gamma flip). → Enter HOOD_002: Sell $85/$75 put spread to collect premium.

IFHOOD breaks above $100 resistance. → Enter HOOD_003: Buy $110 call / sell $80 put risk reversal for leveraged upside.

Exit Triggers

EXITHOOD closes below $90 invalidation level. → Exit all bullish positions immediately.

Tactical Summary

Bullish thesis: strong GEX at $90, max pain $100. High IV favors put credit spread for income. Aggressive: risk reversal. Invalidation: below $90. Event risk: earnings Jul29.

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.