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ORCL

Oracle CorporationClose $190.96EOD only

Max Pain

$185.00

Next expiry May 29, 2026

Expected Move

±$6.61

3.5% from close

Price Gap

-5.96

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.86

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 27, 2026 close

End-of-day snapshot

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

Published Snapshot

May 27, 2026 close

ORCL Directional Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 6, 2026. A newer directional report is available for May 22, 2026.

View latest report

Outlook

Neutral with upside bias toward $150-$155; confidence 8/10. GEX negative (-$15.3M) supports trending moves, but near-term positive GEX concentrations at $150/$155 create pin magnets. Net premium -$105M indicates put-heavy flow, yet P/C ratio 0.66 suggests call volume dominance—mixed signals.

Confidence:

8 / 10

base 8; GEX/flow aligned for trending, but mixed flow adds noise.

Supports: GEX negative trending, net premium -$105M put flow, P/C 0.66 call volume.
Conflicts: Near-term positive GEX pins vs overall negative GEX; put-heavy premium vs call volume.

📊GEX -$15.3M trending; near-term pins at $150/$155.

💰Net premium -$105M put flow; P/C 0.66 call volume.

Regime Classification

Vol Regime

High

IV 57.2% vs sector—high vol, favors selling premium.

Gamma Regime

Trending

GEX -$15.3M trending; near-term positive GEX at $150/$155 creates local pins.

Flow Regime

Mixed

Net premium -$105M put-heavy; P/C 0.66 call volume dominance.

Spot vs Max Pain

Spot $145.54 at max pain $146 (2026-04-10).

Thesis duration: Multi-week — Max pain ladder rises from $146 to $165 over 16 expirations; GEX sign stable negative; flow regime consistent across expirations.

Price Range Forecast

Next 2 weeks

$132.44$158.64

Near-term positive GEX pins at $150/$155; break below $142 invalidates.

Key Levels

Max pain pins: $146 (2026-04-10); $160 (2026-04-17); $150 (2026-04-24)

EM guardrails:

Support: $142.00 · $140.00 · $135.00

Resistance: $150.00 · $155.00 · $160.00

Gamma flip: ~$135.00 — Approx — based on put OI concentration of 13,068 (7.2% below spot)

Structural: Call OI wall $160-$200 caps upside; put floor $90-$135 provides distant support.

Dealer Positioning (GEX/DEX)

GEX: $-15.3M

DEX: +51.8M shares

Gamma flip: ~$135 (Approx — based on put OI concentration of 13,068 (7.2% below spot))

NTM gamma: Positive GEX at $150/$155 pins; negative GEX overall accelerates moves beyond pins.

IV Analysis

IV vs VIX: IV 57.2% high—rich vol favors selling premium.

Term structure: Humped: 4/10 54.5% > 4/17 50.4% > 6/18 57.5%.

Skew: 4/10 vs 4/17 ~4 vol-pt differential; sell 4/10, buy 4/17 for calendar.

Flow Analysis

Net premium: -$105M put-heavy; P/C vol 0.66 call volume dominance.

Directional prints: put 144 OTM 2026-04-10 — Vol 2,218 vs OI 152 (14.6x) IV 58.2%—likely protective put bought. call 146 OTM 2026-04-10 — Vol 1,707 vs OI 550 (3.1x) IV 51.2%—directional call flow.

Unusual: 163.7 put 260 ITM 2026-04-17 — Vol 3,325 vs OI 250 (13.3x) IV 163.7%—likely hedging or complex spread.

Risks & Catalysts

!Gamma flip ~$135 breaks support and accelerates downside.

!High IV 57.2% risks vol crush on range-bound moves.

!Earnings 2026-06-10 adds event risk for longer-dated positions.

!Mixed flow signals may lead to whipsaw.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Long stock	Moderate	Buy shares at $145.54; target $150-$155.	Gamma flip $135 invalidates.
Short stock	Weak	Avoid—upside pins and rising max pain.	Positive GEX pins resist downside.
Covered call	Moderate-Strong	Own shares; sell $150 call 4/17 for ~$3.00 credit.	Assignment above $150.
Cash-secured put / put spread	Moderate-Strong	Sell $140/$135 put spread 4/17 for ~$1.50 credit.	Break below $135.
Long calls	Moderate	Buy $150 call 4/17 for ~$3.00 debit; target $155.	IV crush if range-bound.
Long puts / bear put spreads	Moderate-Weak	Avoid—upside bias; if hedging, buy $140/$135 put spread 4/17.	Positive GEX pins limit downside.
Iron condor	Moderate	$140/$135P x $155/$160C 4/17; collect ~$2.00 credit.	GEX negative trending breaks wings.
Calendar/diagonal	Moderate-Strong	Sell $150 call 4/10 (IV 50.5%), buy $150 call 4/17 (IV 48.0%) for ~$0.30 debit.	Pin at $150 reduces theta decay.
PMCC / LEAPS diagonal	Moderate	Buy $130 call 2027-01-15, sell $150 call 4/17; reduce cost basis.	Long-dated IV 54.4% expensive.

Top Plays

Covered Call

Own shares; sell $150 call 4/17.

Collect premium with upside to max pain; best if you already own shares.

Credit: $2.80-$3.00

Max loss: unlimited below entry

BE: $142.54

Mgmt: Take profit at 50-70% credit; roll if spot approaches $150.

Shareholders wanting income with capped upside.

Put Spread

Sell $140/$135 put spread 4/17.

Defined-risk premium below support; edge from high IV and positive GEX pins.

Credit: $1.40-$1.60

Max loss: $3.60

BE: $138.60

Mgmt: Close at 60-80% max profit; stop if spot breaks $135.

Defined-risk bulls or premium sellers.

Calendar Spread

Sell $150 call 4/10, buy $150 call 4/17.

Sell 54.5% IV, buy 50.4% IV for +4.1pt edge; extra time improves theta decay vs near-term only.

Debit: $0.25-$0.35

Max loss: $0.35

BE: $150.35

Mgmt: Exit if pin breaks or at 50% max profit.

Vol sellers targeting pin at $150.

Watchlist Triggers

Entry Triggers

IFSpot tags $150 and holds 1 hour → Sell $155/$160 call spread 4/17.

IFIV drops below 50% → Buy $150 call 4/24 for directional play.

Exit Triggers

EXITVIX spikes >30 and spot <$142 → Exit all short premium positions.

EXITSpot hits $160 → Take profit on long calls and spreads.

Tactical Summary

Neutral with upside bias toward $150-$155; invalidation below $135. Regime favors selling premium in high IV with defined-risk spreads. Top plays: covered call for shareholders, put spread for premium sellers, calendar for vol edge.

How to Use These Reports

This directional reflects the market close on April 6, 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.