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HOOD

Robinhood Markets, Inc.Close $97.19EOD only
Max Pain
$100.00
Next expiry Jun 26, 2026
Expected Move
±$4.92
5.1% from close
Price Gap
+2.81
Distance to max pain
IV Rank
21
Low premium
P/C OI
0.66
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 24, 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 24, 2026 close
HOOD Earnings Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

HOOD near gamma pin with heavy call flow; earnings 34d out, 80% beat rate, but elevated IV and mixed flow.

Confidence:
4.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 5.6% from MP; +0.5 VIX 19
Most important: Gamma flip at $90 vs max pain $90-$99; net put premium suggests hedging despite call volume.
⏰Earnings 34d out; IV already priced for ±11% move in 15d.
📊Heavy call OI at $100+ vs put floor at $55; near-term gamma pin at $90.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$90.00 — Approx — based on put OI concentration of 14,130 (3.7% below spot)

Earnings Overview

Next earnings: 2026-07-29 (34 days)explicit

Expected moves:

  • 2026-06-26 (1d): ±$3.16 (3.4%)
  • 2026-07-02 (7d): ±$7.52 (8.1%)
  • 2026-07-10 (15d): ±$10.27 (11.0%)

IV Setup

Term structure: Upward sloping; 1d ±3.4%, 7d ±8.1%, 15d ±11% as earnings approach.

Crush estimate: Post-earnings IV crush ~2-3% based on historical moves.

Skew: Calls rich; put/call OI ratio 0.68, but net premium negative on puts.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Not provided; beat rate 80% suggests above-consensus moves.

Directional bias: Slight bullish bias from high beat rate; past quarters mostly positive.

Key Levels

1$90.00 gamma flip
2EM guardrails: 2d $90.32/$96.63; 1w $85.95/$101.00
3Max pain pins: $99 (2026-06-26); $90 (2026-07-02); $93 (2026-07-10)

Flow Highlights

Massive call volume: $94C (4456 vs 329 OI) and $98C (4505 vs 393 OI) for Jun 26/Jul 2 expiries.

Aggressive bullish bets near term, possibly hedging or speculation.

Unusual put buying: $93P (1882 vs 260 OI) and $83P (822 vs 165 OI) for Jul 2.

Downside protection at key levels; gamma flip risk at $90.

Strategies

Bull Call Spread
Buy 2026-08-21 $90.00/$115.00 call spread
Debit: $7.63-$9.32
Max loss: $9.32
Max gain: $15.68
BE: $99.32
Trigger: Exit at expiry or earlier if IV spikes; adjust if stock breaches $90.
High beat rate and slight bullish bias while limiting risk; best trade for the event.
Outperforms: Buy $90/$115 call spread to capture moderate upside but capped by call wall at $100.
Underperforms: Loss of support weakens upside continuation thesis.
Long Straddle
Buy 2026-07-31 $96.00 put + buy $96.00 call
Debit: $14.96-$18.29
Max loss: $18.29
Max gain: Unlimited
BE: 77.71 / 114.29
Trigger: Hold through earnings; consider gamma scalping if near $90.
80% beat rate and gamma flip imply significant move; captures vol expansion.
Outperforms: Buy $96 straddle to profit from large move regardless of direction.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Long Strangle
Buy 2026-08-21 $75.00 put + buy $125.00 call
Debit: $5.09-$6.22
Max loss: $6.22
Max gain: Unlimited
BE: 68.78 / 131.22
Trigger: Hold through earnings; set stop-loss on underlying break of strikes.
Cheaper alternative to straddle for outsized moves; wide strikes reduce cost.
Outperforms: Buy $75 put and $125 call to benefit from extreme move with lower premium.
Underperforms: Insufficient realized move reduces long-strangle edge.
Call diagonal
Sell 2026-07-31 $109.00 call / buy 2026-08-21 $100.00 call
Debit: $4.01-$4.90
Max loss: $4.90
Max gain: Variable
BE: Path-dependent
Upward sloping term structure, IV crush expected after 2026-07-29 earnings; slight bullish bias.
Outperforms: Sell near-term elevated IV to capture post-earnings crush, own back-month call for upside.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Gamma flip at $90 (3.7% below spot) could accelerate move.
!IV crush post-earnings if no catalyst; current IV elevated.
!Call OI wall $100-$130 may cap upside.

What to Watch

?Spot vs $90 gamma flip level.
?Max pain pinning near $93-$99 over next weeks.
?IV expansion ahead of earnings; any change in skew.
How to Use These Reports
This earnings reflects the market close on June 25, 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.