base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.1% from MP; +1 VIX 16
Watch next session: Monitor gamma flip; Watch put OI unwinding
Net premium: +$300.5M bullish
P/C volume ratio: 0.51
P/C OI ratio: 0.47
Bullish flow with $300M net call premium; unusual put activity likely hedging. Positive gamma pinning supports upside. High confidence.
#1META 2026-06-15 $590.00 Put
Intent: Bearish hedge
Dual read: or put spread
Read-through: Pinning at $600
#2META 2026-06-15 $595.00 Put
Intent: Bearish hedge
Read-through: Pinning at $600
#3META 2026-06-15 $605.00 Call
Intent: Bullish speculation
Read-through: Pinning at $600
#4META 2026-06-15 $595.00 Call
Intent: Unclear flow intent
Read-through: Needs contextual interpretation.
#5META 2026-06-15 $600.00 Call
Intent: Unclear flow intent
Read-through: Needs contextual interpretation.
Call additions: Heavy call buying at 595-607.5 strikes; net premium +$300M bullish
Put additions: Large OTM put volume at 585-595, likely hedging
GEX/DEX consistency: GEX +82.6M, DEX +62.3M shares; flow bullish aligned
OI clusters: Largest OI: 600C (1,076), 595C (534), 590P (171); pin near 600
Hedging evidence: Low IV puts at 590/595 suggest cheap hedges
Max pain context: Spot above MP, gamma pinning towards 600
~Large OTM put vol is hedging signal
~600C and 595C heavy call vol is bullish signal
~Small OI 607.5C low-premium trades may be noise