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META

Meta Platforms, Inc.Close $668.84EOD only
Max Pain
$670.00
Next expiry Apr 22, 2026
Expected Move
±$10.80
1.6% from close
Price Gap
+1.16
Distance to max pain
IV Rank
45
Middle-high premium
P/C OI
0.48
Slightly call-heavy
Consensus
7.0/10
Consensus signal
Published snapshot: Apr 21, 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
Apr 21, 2026 close
META Earnings Report
Analysis based on market close April 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Bullish pinning into earnings: concentrated short-dated calls and puts align to keep spot near the $670–675 band pre-release.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.7% from MP; +0.5 VIX 19; override: Supported by aligned flow/GEX and concentrated short-dated positioning into a known event timestamp
Most important: GEX-driven pinning near $670–675 with upside call walls further out
📌Pinning risk: heavy call and put prints concentrate around $670–675
📈Historical sample (last 8 events) shows realized moves slightly below front-week implied moves
⚠️Front-week IV elevated — expect moderate crush after 2026-04-24 20:00 UTC

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
At
Gamma flip: ~$500.00 — Approx — based on put OI concentration of 14,964 (25.9% below spot)

Earnings Overview

Next earnings: 2026-04-29 (7 days)explicit

Expected moves:

  • 2026-04-24 (2d): ±$13.23 (2.0%)
  • 2026-04-27 (5d): ±$17.90 (2.7%)
  • 2026-05-01 (9d): ±$50.40 (7.5%)

IV Setup

Term structure: Front-week IV (expiring 4/24–4/27) is elevated versus further-dated expiries, steepening into the event at the money.

Crush estimate: Moderate post-earnings IV crush expected; options imply an expected move ≈3.5% (~$23 on $670) for front-week — realized move likely smaller than current peak front-week IV.

Skew: Skew shows heavier demand on near-dated puts slightly below spot and concentrated call interest above spot, producing asymmetric tail IV.

Historical Context

Beat rate: 75% (3/4 quarters)

Avg move vs expected: Over the past 8 quarters, realized moves have tended to be slightly smaller than option-implied front-week moves (sample: last 8 events).

Directional bias: Mild upside tilt historically around earnings, but not determinative.

Key Levels

1$500.00 gamma flip
2EM guardrails: 2d $661.49/$687.94; 1w $656.82/$692.62
3Max pain pins: $670 (2026-04-22); $638 (2026-04-24); $665 (2026-04-27)

Flow Highlights

Large call prints at $675–677.5 and concentrated put prints at $665–675

Flow and GEX align to pin/chop near $670–675 ahead of event.

Call OI wall $750–1000 vs put floor $500–600

Structural upside OI may cap gamma-driven rallies; downside support sits deeper out.

Strategies

Defined-risk iron condor
Sell 2026-05-01 $647.50/$602.50 put wing and $710.00/$742.50 call wing
Credit: $14.78-$18.07
Max loss: $26.93
Max gain: $18.07
BE: 629.43 / 728.07
Trigger: Take partial off into IV fade; cut if spot breaks past wings or liquidity dries Liquidity warning: Liquidity constraints: long_put: Open interest below 25.; long_call: Open interest below 25.
Harvests elevated front-week IV while capping tail risk around GEX-driven pinning
Outperforms: Sell short-dated wings around $647.5/710 with outer wings to limit losses; benefits if spot stays near $670–675 into earnings.
Underperforms: Move outside short strikes invalidates range thesis.
Front-week call diagonal (May/May)
Sell 2026-05-01 $710.00 call / buy 2026-05-15 $690.00 call
Debit: $11.14-$13.61
Max loss: $13.61
Max gain: Variable
BE: Path-dependent
Trigger: Close short leg into pin/unusual prints; let long roll if trend continues
Exploits steep front-week IV vs back month while keeping upside via longer call
Outperforms: Sell 5/01 $710, buy 5/15 $690 to collect premium and retain directional exposure if upside surprises.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Back-month call diagonal (May/Jun)
Sell 2026-05-01 $710.00 call / buy 2026-06-18 $715.00 call
Debit: $12.15-$14.85
Max loss: $14.85
Max gain: Variable
BE: Path-dependent
Trigger: Trim short leg after earnings; hold/adjust long for trend continuation
Keeps longer upside exposure post-crush beyond call walls
Outperforms: Sell 5/01 $710, buy 6/18 $715 to capture post-crush appreciation if a large rally occurs.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Pinning can entrench spot near strikes pre-event; a reversal of flow will cause rapid unwind.
!Front-week IV crush may be concentrated, leaving further-dated vol relatively exposed to directional moves.

What to Watch

?Earnings timestamp: 2026-04-24 20:00 UTC — watch spot vs max-pain $670–675 into release.
?Front-week IV and 4/24–4/27 unusual prints; post-release realized move vs implied ≈3.5%.
How to Use These Reports
This earnings reflects the market close on April 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.