Home Options ORCLReports

ORCL

Oracle CorporationClose $189.77EOD only

Max Pain

$180.00

Next expiry May 22, 2026

Expected Move

±$5.00

2.6% from close

Price Gap

-9.77

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.88

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

ORCL Directional Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias supported by strong GEX/flow alignment ($102.8M GEX, bullish flow), dealer long gamma pinning, and low VIX tailwind. Spot above max pain $185 points to upward drift, but resistance at $195-200 and gamma flip risk at ~$150 cap upside.

Confidence:

8.5 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; -0.5 spot 3.8% above MP; +1 VIX 17. Final 8.5.

Supports: Positive dealer gamma ($102.8M), bullish flow, low VIX, support at $185.
Conflicts: Spot 3.8% above MP, gamma flip risk ~$150, resistance at $195-200.

📊GEX $102.8M positive, supports pinning near $185 max pain.

⚠️Spot above MP by 3.8% but capped by resistance $195-200.

🔺VIX 16.7 low, favorable for premium sellers.

Regime Classification

Vol Regime

High

IV elevated vs typical, likely due to event (earnings) proximity; VIX at 16.7 suggests stock-specific risk premium.

Gamma Regime

Pinning

Positive gamma $102.8M with pinning dynamics; max pain $185 for nearest expiry, dealer hedging supports spot.

Flow Regime

Bullish

Bullish net premium flow with calls leaning.

Spot vs Max Pain

Above

Spot above max pain $185 (1w) and $178 (2w), indicating upward pressure but near resistance.

Thesis duration: Event-specific — High vol, gamma pinning, and flow alignment point to event (e.g., earnings) proximity; horizon intraweek to expiry.

Price Range Forecast

Next 1 week

$181.73$202.43

Range $181.73-$202.43; resistance at $195-200, support $185.

Next 2 weeks

$176.51$207.66

Range $176.51-$207.66; gamma flip ~$150 downside risk, resistance $207.66.

Key Levels

Max pain pins: $185 (2026-05-22); $178 (2026-05-29); $180 (2026-06-05)

EM guardrails: 1w $181.73/$202.43

Support: $185.00 · $176.51

Resistance: $195.00 · $200.00 · $207.66

Gamma flip: ~$150.00 — Approx — based on put OI concentration of 18,031 (21.9% below spot)

Structural: Support: $185 (max pain), $176.51 (2w low). Resistance: $195, $200, $207.66. Gamma flip ~$150 based on put OI concentration.

Dealer Positioning (GEX/DEX)

GEX: $+102.8M

DEX: +55.0M shares

Gamma flip: ~$150 (Approx — based on put OI concentration of 18,031 (21.9% below spot))

NTM gamma: Positive gamma $102.8M, long gamma pinning near $185; gamma flip ~$150 (put OI 18,031, 21.9% below spot).

IV Analysis

IV vs VIX: ORCL IV elevated vs VIX (16.7), implying stock-specific event premium (e.g., earnings).

Term structure: Front-end elevated with contango; possible kink around next expiry due to event.

Skew: Put skew elevated; consider selling puts at support or calendar spreads.

Flow Analysis

Net premium: Net premium +$47.8M, put/call vol ratio 0.34, bullish call dominance.

Directional prints: 49.4 call 205 OTM 2026-05-29 — Vol/OI 2.8, large call volume; suggests bullish accumulation. 46.7 call 192.5 OTM 2026-05-29 — Vol/OI 4.5, active call buying; likely bullish positioning.

Unusual: 8.4 put 192.5 ITM 2026-05-22 — Vol/OI 12.7, extreme put volume; could be hedging vs. directional. 54.3 call 217.5 OTM 2026-05-29 — Vol/OI 11.2, high call volume for OTM strike; speculative bullish bet. 82.2 put 130 OTM 2026-06-05 — Vol/OI 11.2, deep OTM put with high IV; tail hedge buying.

Risks & Catalysts

!Flow reversal could break support at $185.

!Gamma flip at ~$150 if spot drops sharply.

!Failure to hold $185 resistance turns support.

!Broad market sell-off (VIX spike) hits high-beta stock.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-06-12 $190.00/$210.00 call spread Why now: Large call OI and dealer gamma pin support upside; resistance near $200 makes short strike attractive.	Max loss limited to debit if spot stays below long strike.
Put credit spread	Moderate-Strong	Sell 2026-06-12 $175.00/$165.00 put spread Why now: Dealer long gamma and spot above max pain $185 limit downside; support at $185-175 likely holds.	Full spread loss if spot closes below short put strike.
Bullish risk reversal	Strong	Buy 2026-06-12 $200.00 call / sell 2026-06-12 $170.00 put Why now: Strong call flow and OI indicate continued upside; short put at support funds the long call.	Uncapped loss on short put if spot drops below strike; limited profit if spot stays flat.

Top Plays

Bull Call Spread

Buy 2026-06-12 $190.00/$210.00 call spread

Expresses bullish view with defined risk via call spread at $190/$210.

Why this play: Best alignment with bullish thesis and defined risk; uses call OI and resistance.

Debit: $6.64-$8.11

Max loss: $8.11

BE: $198.11

Mgmt: Exit if spot breaks below $185 or near expiry if above $210.

Traders expecting gradual upside to $200-210.

Put Credit Spread

Sell 2026-06-12 $175.00/$165.00 put spread

Collects premium by selling put spread below support.

Why this play: Lower risk profile; uses dealer support and spot above max pain.

Credit: $2.15-$2.63

Max loss: $7.37

BE: $172.37

Mgmt: Close if spot nears $175 or hold to expiry.

Conservative bullish or neutral traders.

Bullish Risk Reversal

Buy 2026-06-12 $200.00 call / sell 2026-06-12 $170.00 put

Buy call funded by selling put for leveraged upside.

Why this play: More aggressive; unlimited upside but higher risk.

Debit: $5.27-$6.44

Max loss: $170.00

BE: $170.00

Mgmt: Monitor closely; adjust if spot falls below $180.

Aggressive traders with high risk tolerance.

Watchlist Triggers

Entry Triggers

IFIF spot holds above 185 support and debit < 8.11 → THEN buy 2026-06-12 190/210 bull call spread

IFIF spot above 185 and RSI > 60 on daily and net debit < 6.44 → THEN execute risk reversal: buy 200 call / sell 170 put

IFIF spot above 185 and credit > 2.15 → THEN sell 2026-06-12 175/165 put credit spread

Exit Triggers

EXITIF spot breaks below 185 invalidation → THEN close bull call spread

EXITIF spot drops below 180 → THEN close risk reversal

EXITIF spot falls below 175 short strike → THEN close put credit spread

Tactical Summary

Bullish bias into Jun 10 earnings. Use defined-risk strategies: bull call spread targeting $200-210, put credit spread below support, or risk reversal for leverage. Key levels: support $185 (max pain), resistance $195-200. Invalid below $185. Manage positions ahead of expiry.

How to Use These Reports

This directional reflects the market close on May 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.