Home Options ORCLReports

ORCL

Oracle CorporationClose $205.81EOD only

Max Pain

$207.50

Next expiry Jun 12, 2026

Expected Move

±$25.80

12.5% from close

Price Gap

+1.69

Distance to max pain

IV Rank

100

High premium

P/C OI

0.90

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jun 9, 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

Jun 9, 2026 close

ORCL Directional Report

Analysis based on market close June 10, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias near-term driven by strongly aligned GEX/flow, positive gamma pinning near $208 max pain. However, spot 3% below MP and macro headwinds limit upside, suggesting drift toward $200-208 resistance with potential pullback.

Confidence:

7.5 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; -0.5 spot 3% from MP. Net 7.5, accepted.

Supports: Bullish flow, positive GEX, pinning gamma near $208, support at $200.
Conflicts: High vol regime, negative SPY/QQQ, spot below MP, resistance at $207.5-210.

🔮GEX +$24.9M/flow bullish: strong alignment supportive of near-term upside.

⚠️Spot 3% below $208 max pain: less immediate pin, but gamma increases as spot rises.

📉VIX 22.2, SPY -1.58%: macro headwind tempers bullish conviction.

🎯Gamma flip at $190: protection if selloff, but distant.

Regime Classification

Vol Regime

High

Vol regime High: IV elevated vs typical range, amplified by macro volatility and event risk.

Gamma Regime

Pinning

Gamma regime Pinning: positive GEX ($+24.9M) with concentration near $208 max pain, attracting price.

Flow Regime

Bullish

Flow regime Bullish: net premium flow positive, P/C ratio low, consistent with upside positioning.

Spot vs Max Pain

Below

Spot Below MP ($208): at ~$202, below pinning level, suggesting buying pressure needed to reach it.

Thesis duration: Event-specific — Proximity to weekly op-ex (2026-06-12) and monthly (2026-06-18) makes pinning dynamics key near-term.

Price Range Forecast

Next 2 days

$174.71$227.81

Drift toward $200-208 supported by GEX/flow; resistance at $207.5.

Next 1 week

$172.38$230.13

Continued gamma pinning to $208 max pain; risk of pullback from macro.

Next 2 weeks

$169.68$232.83

Post-opex uncertainty; support $190, resistance $232.83.

Key Levels

Max pain pins: $208 (2026-06-12); $190 (2026-06-18); $200 (2026-06-26)

EM guardrails: 2d $174.71/$227.81; 1w $172.38/$230.13

Support: $200.00 · $190.00 · $169.68

Resistance: $207.50 · $210.00 · $232.83

Gamma flip: ~$190.00 — Approx — based on put OI concentration of 17,098 (5.6% below spot)

Structural: Support: $200, $190 (gamma flip), $169.68. Resistance: $207.5, $210, $232.83. Max pain pins: $208 (2d), $190 (1w), $200 (2w).

Dealer Positioning (GEX/DEX)

GEX: $+24.9M

DEX: +62.9M shares

Gamma flip: ~$190 (Approx — based on put OI concentration of 17,098 (5.6% below spot))

NTM gamma: GEX +$24.9M (positive), DEX +62.9M shares. Gamma flip at ~$190, 5.6% below spot.

IV Analysis

IV vs VIX: ORCL IV elevated relative to VIX (22.2), consistent with high vol regime; options rich for sellers.

Term structure: Likely upward sloping (contango) with event kinks around weekly/monthly opex; near-term IV inflated.

Skew: Put skew elevated due to risk-off; potential for call overwriting or put selling near support.

Flow Analysis

Net premium: Net premium $115.9M positive, put/call vol ratio 0.62, calls dominate, aligning with bullish regime.

Directional prints: 122 call 202.5 OTM 2026-06-18 — Vol/OI 5.5, IV 122%; OTM call bought, bullish direction. 200.4 call 255 OTM 2026-06-12 — Vol/OI 4.4, IV 200%; OTM call bought, betting on large upside. 193.5 call 212.5 OTM 2026-06-12 — Vol/OI 3.9, IV 193%; OTM call buying for upside.

Unusual: 203.1 put 125 OTM 2026-06-12 — Vol/OI 14.9 extreme; deep OTM put bought as hedge. 164.7 put 165 OTM 2026-06-12 — Vol/OI 10.8; ITM put buying suggests bearish hedge or directional. 172.9 put 149 OTM 2026-06-12 — Vol/OI 8.7; put buying near spot, possibly hedging downside.

Risks & Catalysts

!Macro selloff (SPY -1.58%) may override positive structure.

!Spot fails to reclaim MP; gamma flips bearish below $190.

!Event vol collapse post-opex accelerates decay.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-06-26 $230.00/$260.00 call spread Why now: Positive gamma, call flow, and max pain pinning support upside drift.	Macro selloff caps gains; resistance at $208.
Put credit spread	Moderate-Strong	Sell 2026-06-26 $177.50/$162.50 put spread Why now: Positive gamma and call flow support downside protection; premium decay works in our favor.	Sharp macro selloff breaches short put. Liquidity constraints: long_put: Wide spread (55%).
Bullish risk reversal	Moderate-Strong	Buy 2026-06-26 $237.50 call / sell 2026-06-26 $177.50 put Why now: Positive flow and gamma pinning, but limited upside premium; risk reversal cheapens call purchase.	Sharp selloff below short put strike; call may expire worthless if stagnant.
Cash-secured put	Moderate-Weak	Sell 2026-07-02 $180.00 cash-secured put Why now: Willing to own shares at lower price; premium income enhances return.	Stock drops sharply; assigned shares at above-market price. Liquidity constraints: short_put: Wide spread (54%).

Top Plays

Bull call spread

Buy 2026-06-26 $230.00/$260.00 call spread

Expresses bullish drift toward $208 resistance with defined risk.

Why this play: Best alignment with GEX and call flow; defined risk and liquid.

Debit: $3.37-$4.11

Max loss: $4.11

BE: $234.11

Mgmt: Monitor near $200 invalidation; adjust or close if breached.

Traders seeking defined-risk bullish exposure.

Bullish risk reversal

Buy 2026-06-26 $237.50 call / sell 2026-06-26 $177.50 put

Expresses bullish view via cheap synthetic long using call purchase funded by put sale.

Why this play: Cheap bullish expression with unlimited upside potential; liquid.

Debit: $0.81-$0.99

Max loss: $177.50

BE: $177.50

Mgmt: Manage delta; consider rolling if spot drops near short put strike.

Traders comfortable with upside potential and synthetic long.

Put credit spread

Sell 2026-06-26 $177.50/$162.50 put spread

Expresses bullish view by selling put spread, benefiting from theta decay and stability.

Why this play: Collects premium while market holds above support; defined risk.

Credit: $2.79-$3.41

Max loss: $11.59

BE: $174.09

Mgmt: Manage close to short strike; can roll for credit if tested. Liquidity warning: Liquidity constraints: long_put: Wide spread (55%).

Income-focused traders expecting sideways to bullish.

Watchlist Triggers

Entry Triggers

IFIF ORCL holds above $200 and breaks above $203 with volume > 1.5x 20-day average → THEN enter buy 2026-06-26 $230/$260 call spread near $3.37-$4.11

IFIF ORCL bounces from $200 support with bullish engulfing candlestick pattern → THEN enter bullish risk reversal: buy 2026-06-26 $237.5 call / sell 2026-06-26 $177.5 put near $0.81-$0.99

Exit Triggers

EXITIF ORCL closes below $200 invalidation level → THEN exit all bullish positions immediately

Tactical Summary

Bullish near-term due to positive gamma/flow, but macro headwinds limit upside. Favor defined-risk bull call spread (rank 1). Key support $200; gamma flip at $190. Invalidation at $200 triggers exit. Target drift towards $200-208 resistance.

How to Use These Reports

This directional reflects the market close on June 10, 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.