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ORCL

Oracle CorporationClose $184.13EOD only

Max Pain

$185.00

Next expiry Jun 18, 2026

Expected Move

±$10.55

5.7% from close

Price Gap

+0.87

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.84

Slightly call-heavy

Consensus

6.0/10

Consensus signal

Published snapshot: Jun 12, 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 12, 2026 close

ORCL Directional Report

Analysis based on market close June 11, 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 June 11, 2026. A newer directional report is available for June 12, 2026.

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Outlook

Bullish bias moderate confidence 6.5; SPY/QQQ up and DEX positive support. Negative gamma -$39.2M and spot below max pain $205 create downside risk. 2-day bounce likely but 2-week resistance $200-201 may cap.

Confidence:

6.5 / 10

Base 5; +2 GEX/flow aligned; -1 spot vs MP; +0.5 VIX 19 = 6.5

Supports: SPY +1.7%, QQQ +3.4%; DEX +59.6M shares; spot above gamma flip ~$180
Conflicts: Net gamma -$39.2M; spot below max pain $205; high vol regime

📈SPY/QQQ up 1.7%/3.4% tailwind

⚠️Dealer gamma negative -$39.2M, flip ~$180

💰DEX +59.6M shares bullish positioning

🔻Spot 7.7% below max pain $205

Regime Classification

Vol Regime

High

IV elevated vs 20d HV; VIX 19 supports high vol regime

Gamma Regime

Trending

Net dealer gamma -$39.2M, amplifying moves; flip at ~$180

Flow Regime

Mixed

Mixed flow with put OI concentration but no clear net direction

Spot vs Max Pain

Below

Spot $190.26, 6% above gamma flip but 7.7% below max pain $205 (Jun12)

Thesis duration: Multi-week — Structural dealer hedging and spot below key levels suggest multi-week directional drift

Price Range Forecast

Next 2 days

$177.45$190.75

SPY tailwind, vol high

Next 1 week

$171.15$197.05

Gamma flip supports

Next 2 weeks

$166.88$201.33

Resistance $200-201 may cap

Key Levels

Max pain pins: $205 (2026-06-12); $190 (2026-06-18); $200 (2026-06-26)

EM guardrails: 2d $177.45/$190.75; 1w $171.15/$197.05

Support: $180.00 · $166.88

Resistance: $200.00 · $201.33

Gamma flip: ~$180.00 — Approx — based on put OI concentration of 15,411 (2.2% below spot)

Structural: Max pain $205 (Jun12), $190 (Jun18), $200 (Jun26). Support $180, resistance $200-201. Gamma flip ~$180.

Dealer Positioning (GEX/DEX)

GEX: $-39.2M

DEX: +59.6M shares

Gamma flip: ~$180 (Approx — based on put OI concentration of 15,411 (2.2% below spot))

NTM gamma: Net gamma -$39.2M, DEX +59.6M shares. Gamma flip ~$180.

IV Analysis

IV vs VIX: ORCL IV elevated vs VIX 19, likely event premium (no event specified). Premium selling opportunity.

Term structure: Contango expected, front-month vols elevated.

Skew: Put-skewed given negative gamma; consider call spreads if bullish.

Flow Analysis

Net premium: Net premium -$38.6M driven by heavy call buying (P/C vol 0.68, OI 0.89), indicating strong bullish flow.

Directional prints: 60.2 call 185 OTM 2026-06-12 — Vol 20,183 vs OI 348 (58x), aggressive call buying, bullish. 61.4 call 180 ITM 2026-06-12 — Vol 18,814 vs OI 342 (55x), heavy new buying, bullish. 61.9 call 190 OTM 2026-06-12 — Vol 21,207 vs OI 761 (27.9x), strong buying interest, bullish.

Unusual: 73.5 call 202.5 OTM 2026-06-12 — Vol 19,048 vs OI 927 (20.6x), IV 73.5%, extreme OTM call buying. 64.9 call 195 OTM 2026-06-12 — Vol 22,736 vs OI 1,494 (15.2x), heavy OTM call buying. 61.2 call 182.5 ITM 2026-06-12 — Vol 12,841 vs OI 256 (50.2x), aggressive new buying.

Risks & Catalysts

!Spot 7.7% below max pain $205 (Jun12)

!Gamma flip at ~$180 could accelerate declines

!Negative dealer gamma amplifies directional moves

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-06-18 $187.50/$195.00 call spread Why now: Capture upside to ~$200 with limited premium outlay. Negative gamma supports short-term move.	Max loss if ORCL falls below long strike; profit capped at short strike.
Long call	Moderate-Strong	Buy 2026-06-18 $192.50 call Why now: Leverage upside with limited downside; aligns with short-term bullish lean.	Time decay if move delayed; max loss = premium paid.
Put credit spread	Moderate	Sell 2026-06-18 $175.00/$170.00 put spread Why now: Collect premium with defined risk; works if ORCL holds above short put strike.	Max loss if ORCL breaks below long put strike; gap risk.

Top Plays

Bull Call Spread $187.50/$195

Buy 2026-06-18 $187.50/$195.00 call spread

Leveraged bullish play with defined risk and lower premium than outright calls.

Why this play: Captures short-term upside with limited cost; negative gamma supports move.

Debit: $2.04-$2.49

Max loss: $2.49

BE: $189.99

Mgmt: Exit near $200 or by Jun18; stop if below $180.

Traders seeking upside with capped loss.

Long Call $192.50

Buy 2026-06-18 $192.50 call

Higher premium and time decay but maximum leverage on bullish thesis.

Why this play: Direct bullish bet aligns with heavy call flow; unlimited upside if rally continues.

Debit: $2.93-$3.58

Max loss: $3.58

BE: $196.08

Mgmt: Set stop at $180; consider rolling if decay accelerates.

Aggressive traders confident in near-term move.

Put Credit Spread $175/$170

Sell 2026-06-18 $175.00/$170.00 put spread

Bullish with downside buffer; generates theta if stock consolidates.

Why this play: Collects premium while stock stays above short strike; less directional risk.

Credit: $1.02-$1.25

Max loss: $3.75

BE: $173.75

Mgmt: Close if stock nears $175 to avoid pin risk.

Conservative bulls expecting sideways or modest gains.

Watchlist Triggers

Entry Triggers

IFIF ORCL bounces above $185 from near $180 support → THEN enter Bull Call Spread $187.50/$195

IFIF ORCL breaks above $195 with volume → THEN enter Long Call $192.50

IFIF ORCL consolidates above $180 → THEN sell Put Credit Spread $175/$170

Exit Triggers

EXITIF ORCL breaks below $180 → THEN close all bullish positions

EXITIF ORCL reaches $200-201 resistance → THEN exit Bull Call Spread and Long Call

Tactical Summary

Bullish 2-day bounce likely, but resistance $200-201 and negative gamma risk. Favor defined-risk bull call spread. Entry near $185 support, exit near resistance or stop loss at $180.

How to Use These Reports

This directional reflects the market close on June 11, 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.