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META

Meta Platforms, Inc.Close $600.21EOD only

Max Pain

$587.50

Next expiry Jun 17, 2026

Expected Move

±$9.55

1.6% from close

Price Gap

-12.71

Distance to max pain

IV Rank

100

High premium

P/C OI

0.46

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jun 16, 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

Jun 16, 2026 close

META Directional Report

Analysis based on market close June 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Moderate bullish bias from long DEX (+63.5M shares) and VIX 18, but spot below MP ($590) and negative gamma (-$25.8M) cap upside. Mixed flow adds uncertainty.

Confidence:

7 / 10

Base 5; +2 GEX/flow aligned; -0.5 spot 3.8% below MP; +0.5 VIX moderate. Score: 7.0.

Supports: Long DEX, moderate VIX, support at $540.
Conflicts: Spot below MP, negative gamma, mixed flow.

⚠️Negative gamma (-$25.8M) may amplify moves; dealer hedging could accelerate declines.

🔄Mixed flow (P/C not extreme) and spot below max pain suggest limited directional conviction.

Regime Classification

Vol Regime

High

High IV relative to typical range; elevated ahead of multiple expiries.

Gamma Regime

Trending

Trending gamma (negative), spot below gamma flip level; no meaningful put concentration near spot.

Flow Regime

Mixed

Mixed net premium; no strong directional signal from flow.

Spot vs Max Pain

Below

Spot below MP by ~3.8%; MP at $590 acts as resistance.

Thesis duration: Event-specific — Expirations on 6/17, 6/18, 6/22 drive event-specific dynamics; gamma and flow are short-term.

Price Range Forecast

Next 2 days

$556.66$578.51

Negative gamma and spot below MP cap rallies; test support $556.

Next 1 week

$550.86$584.31

Mixed flow and gamma flip proximity keep range-bound.

Next 2 weeks

$540.16$595.01

Long DEX supports recovery if spot reclaims MP $590.

Key Levels

Max pain pins: $590 (2026-06-17); $600 (2026-06-18); $590 (2026-06-22)

EM guardrails: 2d $556.66/$578.51; 1w $550.86/$584.31

Support: $540.16

Resistance: $590.00 · $595.01

Structural: Max pain: $590 (6/17), $600 (6/18), $590 (6/22); EM guardrails: 2d $556.66/$578.51, 1w $550.86/$584.31; support $540.16, resistance $590/$595; no gamma flip.

Dealer Positioning (GEX/DEX)

GEX: $-25.8M

DEX: +63.5M shares

Gamma flip: N/A

NTM gamma: NTM gamma: $-25.8M (negative), DEX +63.5M shares (long). No gamma flip; no put OI within 30% below spot.

IV Analysis

IV vs VIX: IV rich vs VIX (18.44), typical for META pre-expiry; elevated vol historically.

Term structure: Modestly backwardated; front-end elevated with expiries.

Skew: Put skew elevated; consider put spreads to hedge downside.

Flow Analysis

Net premium: Net sold $1.26B premium; put/call vol ratio 0.76, high OTM call volume suggests bearish positioning.

Directional prints: 25 call 587.5 OTM 2026-06-17 — Vol/OI 151.7, price 0.01; likely sold OTM calls. Bearish. 19.5 call 582.5 OTM 2026-06-17 — Vol/OI 94.7, price 0.01; sold OTM calls reinforcing bearish view. 33.8 call 582.5 OTM 2026-06-18 — Vol/OI 90.7, price 1.10; sold OTM calls, though with slight time premium.

Unusual: 25 call 587.5 OTM 2026-06-17 — Vol/OI 151.7, extreme; near-zero price indicates sold. 19.5 call 582.5 OTM 2026-06-17 — Vol/OI 94.7, heavily sold OTM calls. 33.8 call 582.5 OTM 2026-06-18 — Vol/OI 90.7, sold with elevated IV indicating bearish flow.

Risks & Catalysts

!Spot fails to hold $556 support; opens $540.

!Gamma squeeze if spot accelerates above MP ($590).

!Flow reversal from negative to bullish if sentiment shifts.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-08-21 $580.00/$590.00 call spread Why now: Moderate bullish bias but negative gamma caps upside; bull spread limits downside	Upside capped at $590; loss if spot below $580 at expiry
Put credit spread	Moderate	Sell 2026-08-21 $560.00/$550.00 put spread Why now: Moderate bullish bias with support near $556; sell put spread below support	Loss if spot falls below $550 at expiry

Top Plays

Put Credit Spread

Sell 2026-08-21 $560.00/$550.00 put spread

Sell $560/$550 put spread to collect premium while betting on support holding.

Why this play: Aligns with moderate bullish bias and support near $556; bearish flow caps upside, so selling puts below support is safer.

Credit: $4.05-$4.95

Max loss: $5.05

BE: $555.05

Mgmt: Close if spot breaks below $540 invalidation. Monitor gamma.

Traders expecting limited upside and stable price above $556.

Bull Call Spread

Buy 2026-08-21 $580.00/$590.00 call spread

Buy $580/$590 call spread to cap upside risk, but low probability due to flow.

Why this play: Also fits bullish bias but negative gamma and bearish flow cap upside; bull spread limits loss but less favorable than put credit.

Debit: $3.58-$4.37

Max loss: $4.37

BE: $584.37

Mgmt: Exit if spot drops below $540. Roll if time decay accelerates.

Traders wanting bullish exposure with defined risk, accepting lower probability.

Watchlist Triggers

Entry Triggers

IFSpot holds above $556 (2d EM lower guardrail) for a session close → Sell $560/$550 put spread (meta_put_credit_1)

IFSpot breaks and sustains above $590 resistance → Buy $580/$590 call spread (meta_bull_call_1)

Exit Triggers

EXITSpot breaks below $540.16 support → Close put credit spread (meta_put_credit_1)

EXITSpot falls below $570 support → Close bull call spread (meta_bull_call_1)

Tactical Summary

Favor put credit spread on support holds due to bearish flow and gamma cap. Use $540 invalidation as exit for put spread. Bull call spread only on confirmed breakout above $590, exit if spot falls below $570.

How to Use These Reports

This directional reflects the market close on June 17, 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.