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META

Meta Platforms, Inc.Close $602.61EOD only

Max Pain

$607.50

Next expiry May 20, 2026

Expected Move

±$8.00

1.3% from close

Price Gap

+4.89

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.46

Slightly call-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects META options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

META Directional Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias supported by positive dealer gamma (+$54.1M), bullish flow, and spot near max pain pin ($608-$610). Normal vol regime and VIX at 18.06 favor call-side exposure. Resistance at $607.5 may cap near-term upside, but pinning dynamics and DEX +58.2M shares suggest upward drift toward upper range.

Confidence:

9 / 10

Base 5 + GEX/flow alignment (+2) + GEX pinning (+1) + spot near MP (+1) + VIX 18 (+0.5) = 9.5. No override needed.

Supports: GEX +$54.1M, DEX +58.2M shares, bullish flow, spot at MP, normal vol.
Conflicts: Resistance at $607.5, gamma flip at $500 (distant but potential tail risk).

📈Dealer gamma positive and pinning near $608-610; spot well supported.

📊Flow bullish, VIX moderate; call-side bias reinforced.

⚠️Gamma flip risk at $500 is remote but watch put OI concentration.

Regime Classification

Vol Regime

Normal

Normal: VIX at 18.06, near historical median. META IV likely similar, no extreme vol events expected near term.

Gamma Regime

Pinning

Pinning: GEX +$54.1M positive, with strongest gamma near $608-$610 from max pain. Spot near these levels, encouraging mean-reversion.

Flow Regime

Bullish

Bullish: Net premium inflow positive, P/C ratio favors calls. Dealers hedged long gamma.

Spot vs Max Pain

At: Spot ~$607.5 within 0.2% of $608 max pain. Pin pressure strong.

Thesis duration: Event-specific — Pin action tied to weekly expiry (2026-05-20 and 2026-05-22). Beyond 1 week, gamma decays and vol may shift.

Price Range Forecast

Next 2 days

$594.61$610.61

Gamma pinning and dealer support push toward high end. Resistance at $607.5 but likely tested.

Next 1 week

$593.56$611.66

Post-expiry, focus shifts to $610.61 resistance; support at $593.56. Pin could hold.

Next 2 weeks

$569.73$635.48

Two-week range $569.73-$635.48. Breakout above $610.61 targets $635; breakdown below $593.56 risks $570.

Key Levels

Max pain pins: $608 (2026-05-20); $610 (2026-05-22); $605 (2026-05-26)

EM guardrails: 2d $594.61/$610.61; 1w $593.56/$611.66

Support: $569.73

Resistance: $607.50 · $635.48

Gamma flip: ~$500.00 — Approx — based on put OI concentration of 15,255 (17.0% below spot)

Structural: Max pain pins: $608 (20-May), $610 (22-May), $605 (26-May). Support: $569.73 (2w low). Resistance: $607.5 (near spot), $635.48 (2w high). Gamma flip at $500 (put OI concentration). EM guardrails: 2d $594.61-$610.61; 1w $593.56-$611.66.

Dealer Positioning (GEX/DEX)

GEX: $+54.1M

DEX: +58.2M shares

Gamma flip: ~$500 (Approx — based on put OI concentration of 15,255 (17.0% below spot))

NTM gamma: GEX +$54.1M positive. DEX +58.2M shares long. Gamma flip at ~$500 (approx based on put OI 15,255). Dealers are long gamma near spot, providing stability and pinning support.

IV Analysis

IV vs VIX: IV likely near VIX (~18) given normal vol regime. Not rich/cheap; event-neutral positioning acceptable.

Term structure: Slight contango with near-term elevated due to weekly expiry. Flat thereafter.

Skew: Put skew elevated from dealer hedging; call skew lower. Potential: sell put spreads near support or buy call spreads for upside if breakout.

Flow Analysis

Net premium: Net premium $103.5M positive (P/C vol ratio 0.49) indicates strong bullish call buying bias.

Directional prints: 24.1 call 605 OTM 2026-05-20 — Vol 8485 vs OI 327 (25.9x) suggests aggressive new call buying; likely bought as bullish bet; preferred read long call. 27.4 call 620 OTM 2026-05-20 — Vol 18166 vs OI 1533 (11.8x) indicates heavy call buying; likely bought for upside; preferred read long call.

Unusual: 24.1 call 605 OTM 2026-05-20 — Vol/OI ratio 25.9x extremely high; outsized call buying; likely bought to open; bullish. 24 put 587.5 OTM 2026-05-20 — Vol 2893 vs OI 131 (22.1x) abnormally high for put; net bullish flow suggests likely sold (bullish); preferred read put sale. 23.6 call 602.5 ITM 2026-05-20 — Vol 2818 vs OI 167 (16.9x) aggressive call buying; likely bought for upside; preferred read long call.

Risks & Catalysts

!Gamma flip at $500: unlikely but would turn dealers short gamma, accelerating selloff if triggered.

!Resistance at $607.5 may cap upside short-term; failure to break could mean-revert.

!Post-expiry gamma decay reduces pinning; shift to bigger range with downside risk to $593.56.

!Macro risk from SPY/QQQ weakness (-0.67%/-0.62%) could weigh on sentiment despite bullish micro structure.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-07-17 $600.00/$620.00 call spread Why now: Defined-risk debit spread capturing upside with limited downside.	Time decay and no earnings cover; reversal causes loss.
Put credit spread	Moderate	Sell 2026-07-17 $590.00/$580.00 put spread Why now: Positive dealer gamma supports floor; limited tail risk.	Sharp selloff breaks strike; max loss if stock <580.
Long call	Moderate-Strong	Buy 2026-07-17 $605.00 call Why now: Unusual flow and positive gamma favor upside convexity.	Time decay and earnings gap risk; stock could drop.

Top Plays

Bull Call Spread

Buy 2026-07-17 $600.00/$620.00 call spread

Buy $600/$620 call spread; benefits from upside drift and pinning to $608-610.

Why this play: Best risk-reward for bullish thesis; captures upside with limited capital at risk.

Debit: $8.37-$10.23

Max loss: $10.23

BE: $610.23

Mgmt: Exit if spot closes below $590 or resistance fails; target expiry near max pain.

Traders seeking defined risk with moderate upside

Long Call

Buy 2026-07-17 $605.00 call

Buy $605 call; convex payoff if upside accelerates.

Why this play: Direct bullish bet leveraging unusual flow and positive dealer gamma.

Debit: $28.15-$34.40

Max loss: $34.40

BE: $639.40

Mgmt: Trail stop at 1.5x premium; consider rolling to later expiry if spot stagnates.

Aggressive traders expecting strong breakout above $610

Put Credit Spread

Sell 2026-07-17 $590.00/$580.00 put spread

Sell $590/$580 put spread; profits from time decay and stable price.

Why this play: Defensive play using dealer gamma support; collects premium near floor.

Credit: $3.62-$4.43

Max loss: $5.57

BE: $585.57

Mgmt: Close at 50% of max profit; widen invalidation if gamma flips.

Income-focused traders expecting limited downside

Watchlist Triggers

Entry Triggers

IFIF spot holds above $594.61 (2d EM low) and confirms with bullish flow → THEN buy META-001 bull call spread (Buy 2026-07-17 $600/$620 call spread)

IFIF spot breaks above $610.61 (2d EM high) with volume → THEN buy META-003 long call (Buy 2026-07-17 $605 call)

IFIF spot pulls back to $593.56-$594.61 (1w/2d support) and holds → THEN sell META-002 put credit spread (Sell 2026-07-17 $590/$580 put spread)

Exit Triggers

EXITIF spot closes below $569.73 (key support) or breaks $500 gamma flip → THEN exit all bullish positions immediately

Tactical Summary

Bullish bias with upside to $610.61 (2d EM high), resistance at $607.5. Key support $594.61, invalidation $569.73. Gamma support at $500 (flip risk). Use META-001 for defined risk, META-003 for convexity, META-002 for income near support. Vol normal, max pain pin $608-$610.

How to Use These Reports

This directional reflects the market close on May 19, 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.