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ORCL

Oracle CorporationClose $152.46EOD only

Max Pain

$170.00

Next expiry Jun 26, 2026

Expected Move

±$3.90

2.6% from close

Price Gap

+17.54

Distance to max pain

IV Rank

Low premium

P/C OI

0.97

Balanced positioning

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 25, 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 25, 2026 close

ORCL Directional Report

Analysis based on market close June 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bearish bias: high vol, negative dealer gamma, spot below max pain $160. Support at $136.3 and gamma flip at $130. Negative GEX amplifies downside moves. DEX positive delta provides slight offset but not enough to flip bias.

Confidence:

6.5 / 10

Base 5 +2 GEX/flow aligned -1 spot 7.2% from MP +0.5 VIX 18 → 6.5

Supports: High vol regime, negative gamma, bearish flow
Conflicts: DEX positive delta, support levels nearby

📉Negative GEX -$68.5M; dealers short gamma, amplifying direction

⚖️Spot below max pain $160; call wall at $160 caps upside

🛡️Support at $136.3 (2w range low) and gamma flip ~$130

Regime Classification

Vol Regime

High

High vol—IV elevated relative to VIX 18.4, options expensive

Gamma Regime

Trending

Trending: dealers short gamma (GEX -$68.5M), amplifying moves

Flow Regime

Mixed

Mixed: net premium flows uncertain, put/call ratio flat

Spot vs Max Pain

Below

Spot below max pain $160; near gamma flip $130

Thesis duration: Multi-week — Price ranges extend 2 weeks; dealer structure persists

Price Range Forecast

Next 1 week

$140.55$156.50

Testing low $140.55; break opens $136.3

Next 2 weeks

$136.30$160.75

Potential to reach $136.3 support

Key Levels

Max pain pins: $160 (2026-06-26); $168 (2026-07-02); $180 (2026-07-10)

EM guardrails: 1w $140.55/$156.50

Support: $136.30

Resistance: $160.00 · $160.75

Gamma flip: ~$130.00 — Approx — based on put OI concentration of 10,858 (12.5% below spot)

Structural: Max pain $160 (Jun26), $168 (Jul2), $180 (Jul10). EM guardrails 1w $140.55/$156.50. Support $136.3, resistance $160/$160.75. Gamma flip ~$130.

Dealer Positioning (GEX/DEX)

GEX: $-68.5M

DEX: +57.7M shares

Gamma flip: ~$130 (Approx — based on put OI concentration of 10,858 (12.5% below spot))

NTM gamma: GEX -$68.5M, DEX +57.7M shares, gamma flip ~$130 (~12.5% below spot)

IV Analysis

IV vs VIX: IV rich vs VIX 18.4; options overpriced, favoring sellers

Term structure: Contango; front-month elevated, decay with time

Skew: Put skew steep; consider put credit spreads above $160 resistance

Flow Analysis

Net premium: Net positive $113M; put/call vol 0.72, aggressive call buying dominates.

Directional prints: 23.4 call 152.5 OTM 2026-06-26 — Vol 22287, OI 1320, vol/OI 16.9. Extreme 0DTE call buying; cheap OTM. Confident aggressive bullish bet. 10.2 call 150 OTM 2026-06-26 — Vol 11950, OI 928, vol/OI 12.9. 0DTE call buying near ATM; likely bullish momentum play. 50.2 call 160 OTM 2026-07-02 — Vol 7250, OI 667, vol/OI 10.9. Weekly OTM call buying with high IV; speculative bullish.

Unusual: 23.4 call 152.5 OTM 2026-06-26 — Extreme vol/OI 17; 0DTE OTM call; unusual concentration of buying. 10.2 call 150 OTM 2026-06-26 — High vol/OI 13; 0DTE ATM call; unusual volume vs open interest. 50.2 call 160 OTM 2026-07-02 — Vol/OI 11; weekly OTM call with elevated IV; unusual print.

Risks & Catalysts

!Sharp reversal if spot reclaims $156.50 EM guardrail

!Dealer delta hedging could accelerate upside if gamma flips

!Earnings or macro catalyst shifts sentiment quickly

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bear put spread	Strong	Buy 2026-07-17 $145.00/$130.00 put spread Why now: Direct bearish debit spread targeting $145 resistance and $130 support, aligns with multi-week duration and available strikes.	Max loss is net debit; upside risk if spot reverses above $145.
Long put	Moderate-Strong	Buy 2026-07-17 $140.00 put Why now: Convex downside hedge with limited risk; OTM put captures acceleration if support breaks.	Time decay accelerates if spot stays above strike; vol crush risk.
Call credit spread	Moderate	Sell 2026-07-10 $165.00/$170.00 call spread Why now: Bearish defined-risk credit sale near resistance; captures high IV and negative gamma effect.	Sharp upward reversal if spot reclaims $156.50; undefined tail risk capped by long call.

Top Plays

Bear Put Spread 145/130

Buy 2026-07-17 $145.00/$130.00 put spread

Captures downside to $130 with defined risk, leveraging high vol and bearish flow.

Why this play: Direct bearish debit spread targeting key support, aligns with multi-week bearish outlook and negative gamma.

Debit: $3.69-$4.51

Max loss: $4.51

BE: $140.49

Mgmt: Exit if spot reclaims $160 invalidation; adjust if gamma flips above $156.5.

Traders seeking defined-risk bearish play within 75-day horizon.

Long Put $140

Buy 2026-07-17 $140.00 put

Unlimited upside if spot plunges, but suffers time decay in slower moves.

Why this play: Convex hedge that profits from accelerated downside if support breaks, but higher theta decay.

Debit: $3.47-$4.24

Max loss: $4.24

BE: $135.76

Mgmt: Set stop-loss at premium erosion; close if spot holds above $145.

Aggressive traders expecting sharp decline; less suitable for drift.

Call Credit Spread 165/170

Sell 2026-07-10 $165.00/$170.00 call spread

Collects premium on capped upside, but resistance far above current spot.

Why this play: Bearish but far OTM; limited premium and less alignment with near-term support levels.

Credit: $0.35-$0.43

Max loss: $4.57

BE: $165.43

Mgmt: Close at 50% max profit; roll if spot nears 160.

Traders wanting low-cost bearish bet with high probability, but lower return.

Watchlist Triggers

Entry Triggers

IFIF spot breaks below $145 → ENTRY: Buy 2026-07-17 $145/$130 put spread

IFIF spot falls below $136.3 support → ENTRY: Buy 2026-07-17 $140 put

Tactical Summary

Bearish multi-week bias. Support $136.3, resistance $160, gamma flip $130. Negative dealer gamma amplifies downside. Preferred: Bear Put Spread 145/130. Entry on support breaks; exit on guardrail breach.

How to Use These Reports

This directional reflects the market close on June 26, 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.