META
Meta Platforms, Inc.Close $610.26EOD onlyThis page reflects META options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
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You are viewing an older report from April 7, 2026. A newer flow report is available for May 22, 2026.
View latest reportFlow Verdict
Watch next session: Follow put flow at 560–565 (near-term expiries) — repeated buying would confirm downside skew; Buildup of call OI / premium at 597.50–600.00 (would shift thesis toward pin-to-upside)
Flow Summary
Net premium: -$39.5M bearish (net premium outflow skewed to puts)
P/C volume ratio: 0.95 — near parity (slight call tilt earlier in day but essentially balanced on volume)
P/C OI ratio: 0.49 — OI skewed to calls (long-dated call OI concentration despite short-term put activity)
Notable Prints
Read-through: Significant two-way activity at the 570–575 neighborhood — dealers likely accumulating offsetting inventory which supports pinning at $575 in the immediate term.
Read-through: Substantial short-dated protective/ directional put activity at 565 indicates participants preparing for intraday/overnight downside risk or speculating on a move below spot before expiry.
Read-through: Paired heavy call and put prints around 567.50–570 suggest two-sided expiration activity (straddle/strangle or offsetting buys/sells) rather than uni-directional conviction, but the preponderance of put premium overall tilts toward downside risk in the short window.
Read-through: Reinforces the short-term downside/hedge narrative — concentrated buying across 560–570 puts inside expiry window.
Institutional Positioning
Call additions: Large structural call OI exists far OTM in the 700–800 band; near-term call OI clusters at $597.50, $600.00 and $610.00 (6,014 OI at $610; 4,055 OI at $597.50) indicate dealers/writers have meaningful short call exposure above spot.
Put additions: Heavy short-dated put flow at 560–570 suggests institutions are adding protective/ directional puts into the nearest expiries; longer-dated put OI concentration sits at $500 (3,167 OI) acting as a structural floor.
GEX/DEX consistency: Partly consistent: Total GEX is positive (+$40.5M) which supports pinning at spot and near-term call clusters; flow (net premium -$39.5M) shows put buying that briefly contradicts bullish gamma but is consistent with tactical hedging into expiry.
OI clusters: Major OI clusters: calls concentrated at 597.50 (4,055), 600.00 (3,368), 610.00 (6,014) creating a sticky zone ~597–610; puts clustered at 500.00 (3,167) and short-dated cluster around 560.00 (2,982) & 580.00 (2,314) creating a support band and lower-floor.
Hedging evidence: Clear short-term protective put activity (560–567.50–575 expiries) consistent with expiration hedging and downside insurance; limited evidence of widespread collars, but the juxtaposition of heavy put premium with existing call OI suggests many participants are hedging upside exposures with short-dated puts.
Max pain context: Max Pain sits at $575 for the nearest expirations (4/08 and 4/10) and spot is effectively at MP. Combined with positive GEX pin concentration at $597.50/$590.00 and heavy short-dated two-way activity, dealers are likely to hedge toward keeping spot pinned at $575 into expiry while handling short-term put demand.
Signal vs Noise
Key Conclusions
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