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ORCL

Oracle CorporationClose $189.76EOD only

Max Pain

$170.00

Next expiry May 15, 2026

Expected Move

±$7.43

3.9% from close

Price Gap

-19.76

Distance to max pain

IV Rank

High premium

P/C OI

0.81

Slightly call-heavy

Consensus

6.0/10

Range bias

Published snapshot: May 13, 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 13, 2026 close

ORCL Directional Report

Analysis based on market close May 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias sustained by strong dealer gamma ($+116.6M) and bullish flow, but spot ~13% above max pain ($172) introduces pullback risk. High vol supports extension toward $200-210 resistance.

Confidence:

8 / 10

GEX/flow aligned (+2), positive GEX (+1), VIX 17 (+1), spot distance from MP (-1). Base 5 yields 8.

Supports: Bullish flow, positive gamma, high DEX (+64.6M shares), strong resistance at $200.
Conflicts: Spot far above max pain ($172-175), gamma flip at $150, resistance at $200 and $210.

🟢GEX $+116.6M bullish; pinning near $198.

⚠️Spot 13% above MP; gamma flip at $150 if selloff.

📊High IV supports wide ranges; resistance $200/$210.

Regime Classification

Vol Regime

High

High IV vs historical, driven by recent earnings; VIX 17 suggests moderate market vol.

Gamma Regime

Pinning

Positive GEX $116.6M; gamma flip at ~$150 (23% below spot).

Flow Regime

Bullish

Bullish net premium; calls outpacing puts in recent sessions.

Spot vs Max Pain

Above

Spot ~$198, well above $172-175 max pain; dealer hedging likely supportive.

Thesis duration: Multi-week — Persistent GEX/flow alignment and high vol suggest structural support beyond single event.

Price Range Forecast

Next 2 days

$189.70$201.52

Range $189.70-$201.52; gamma support near low.

Next 1 week

$181.14$210.09

Range $181.14-$210.09; test resistance at $200.

Next 2 weeks

$177.26$213.96

Range $177.26-$213.96; gamma flip risk below $177.

Key Levels

Max pain pins: $172 (2026-05-15); $175 (2026-05-22); $170 (2026-05-29)

EM guardrails: 2d $189.70/$201.52; 1w $181.14/$210.09

Support: $177.26

Resistance: $200.00 · $210.00 · $213.96

Gamma flip: ~$150.00 — Approx — based on put OI concentration of 17,452 (23.3% below spot)

Structural: Max Pain $172-$175 (weekly); EM 2d $189.70/$201.52; support $177.26; resistance $200/$210/$213.96; gamma flip ~$150.

Dealer Positioning (GEX/DEX)

GEX: $+116.6M

DEX: +64.6M shares

Gamma flip: ~$150 (Approx — based on put OI concentration of 17,452 (23.3% below spot))

NTM gamma: NTM gamma $+116.6M; DEX +64.6M shares long gamma; flip near $150.

IV Analysis

IV vs VIX: Rich vs VIX 17; elevated due to earnings uncertainty.

Term structure: Front-end elevated, decaying after weekly expiry.

Skew: Put skew high; sell put spreads in short-dated to capture premium.

Flow Analysis

Net premium: Net premium $120M call-heavy, P/C vol ratio 0.28

Directional prints: 60.1 call 207.5 OTM 2026-05-15 — Vol/OI 8.3, OTM call; aggressive buying for upside. 60.3 call 200 OTM 2026-05-22 — Vol/OI 3.0, high volume; bullish sentiment. 51.1 put 190 OTM 2026-05-15 — Vol/OI 4.6, large put volume; likely hedging.

Unusual: 60.1 call 207.5 OTM 2026-05-15 — Vol/OI 8.3, OTM call; likely bought. 57.3 call 195 ITM 2026-06-05 — Vol/OI 7.4, ITM call; likely bought for leverage. 51.1 put 190 OTM 2026-05-15 — Vol/OI 4.6; heavy put activity, possibly hedging.

Risks & Catalysts

!Spot 13% above max pain; bearish gamma if selloff.

!Gamma flip at ~$150 if sharp decline.

!Resistance $200 and $210 may cap upside.

!Vol compression post-earnings could reduce IV support.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-06-18 $200.00/$210.00 call spread Why now: Dealer gamma and call flow support upside, but cap at resistance.	Pullback below 200 or gap down through support.
Put credit spread	Moderate	Sell 2026-06-18 $180.00/$175.00 put spread Why now: High vol supports premium collection; 180-175 spread offers buffer.	Sharp selloff below 180 or earnings miss.
Bullish risk reversal	Conditional	Buy 2026-06-18 $200.00 call / sell 2026-06-18 $180.00 put Why now: Dealer gamma bullish flow suggests upside, short put funds call.	Unhedged short put exposure if sharp decline.
Cash-secured put	Moderate-Weak	Sell 2026-06-18 $175.00 cash-secured put Why now: If pullback to 175, willing to own stock; premium enhances yield.	Assignment below 175 if selloff continues; opportunity cost if rally.
Call calendar	Moderate	Sell 2026-06-12 $200.00 call / buy 2026-07-17 $200.00 call Why now: Near-term IV (71%) > longer-term (64%); sell near-term, buy back-month.	Spot moves away from strike; IV crush if no move.

Top Plays

Bull Call Spread

Buy 2026-06-18 $200.00/$210.00 call spread

Buy $200 call, sell $210 call; net debit, max gain $5.98.

Why this play: Direct upside exposure with defined risk, capping at resistance zone.

Debit: $3.29-$4.02

Max loss: $4.02

BE: $204.02

Mgmt: Exit if spot breaches $177; take profit near $210.

Traders seeking capped bullish bet with clear risk.

Put Credit Spread

Sell 2026-06-18 $180.00/$175.00 put spread

Sell $180 put, buy $175 put; net credit $1.90, max loss $3.10.

Why this play: Premium collection with buffer; high vol supports this play.

Credit: $1.55-$1.90

Max loss: $3.10

BE: $178.10

Mgmt: Close if spot drops below $180; take profit at 50% max gain.

Traders wanting to profit from bullish bias with downside protection.

Bullish Risk Reversal

Buy 2026-06-18 $200.00 call / sell 2026-06-18 $180.00 put

Buy $200 call, sell $180 put; unlimited upside, max loss $180.

Why this play: Aggressive bullish play funded by short put; aligns with flow.

Debit: $5.45-$6.66

Max loss: $180.00

BE: $180.00

Mgmt: Roll short put up if spot declines; take profit on call near $210.

Aggressive traders with high conviction in upside.

Watchlist Triggers

Entry Triggers

IFSpot holds above $177.26 and approaches $200 resistance. → Enter $200/$210 bull call spread (max debit $4.02).

IFSpot remains above $180 with bullish bias. → Sell $180/$175 put spread (credit $1.90).

IFStrong momentum and spot above $190. → Buy $200 call / sell $180 put risk reversal.

Exit Triggers

EXITSpot closes below $177.26. → Close all bullish positions (call spread, put spread, risk reversal).

EXITSpot reaches $210. → Take profit on bull call spread and risk reversal call.

Tactical Summary

Bullish bias with strong dealer gamma; 13% above max pain ($172) introduces pullback risk. Key support $177.26; resistance $200/$210. Use defined-risk spreads: bull call spread, put credit spread, or risk reversal. Invalidate if spot breaks $177.26.

How to Use These Reports

This directional reflects the market close on May 14, 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.