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ORCL

Oracle CorporationClose $187.50EOD only
Max Pain
$165.00
Next expiry Apr 24, 2026
Expected Move
±$6.88
3.7% from close
Price Gap
-22.50
Distance to max pain
IV Rank
25
Middle-high premium
P/C OI
0.75
Slightly call-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Apr 22, 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
Apr 22, 2026 close
ORCL Earnings Report
Analysis based on market close April 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Market skewed toward pinning between $187–$197 with bullish flow and concentrated call demand; moderate upside bias into earnings window.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 13.6% from MP; +0.5 VIX 19; override: GEX/flow strongly aligned with pinning and bullish flow
Most important: Strong call flow (large May/Apr calls) + GEX pinning near $187–$197 driving upside pin risk
📈Call-heavy prints (May 1 $210; Apr 24 $187.5) suggest upside pin pressure around $187–197
⚠️Front-week IV ~50–59; expect moderate post-event crush
🛡️Put blocks at $170–180 act as short-term support

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above

Earnings Overview

Next earnings: 2026-06-10 (49 days)explicit

Expected moves:

  • 2026-04-24 (2d): ±$6.88 (3.7%)
  • 2026-05-01 (9d): ±$14.28 (7.6%)
  • 2026-05-08 (16d): ±$17.97 (9.6%)

IV Setup

Term structure: Front-week IV elevated (~50–59) with higher mid-term IV into May; call IV spikes at near-term strikes.

Crush estimate: Moderate IV crush expected post-event (~20–35% drop front-week).

Skew: Call-heavy skew into $187–210 strikes; put interest clustered at $170–190 support levels.

Historical Context

Beat rate: 75% (3/4 quarters)

Avg move vs expected: Historical beat rate 75%; realized moves often near or exceed expected in 2–3 week window.

Directional bias: Tilt bullish given recent beats and persistent call flow

Key Levels

1EM guardrails: 2d $180.62/$194.38; 1w $173.22/$201.78
2Max pain pins: $165 (2026-04-24); $155 (2026-05-01); $162 (2026-05-08)

Flow Highlights

Heavy call prints at May 1 $210 and Apr 24 $187.5/$197.5 expirations.

Large call demand concentrated above spot supporting upside pinning.

Significant put prints at Apr 24 $180 and May 29 $170.

Protective/hedge activity creates support floor ~170–180.

Strategies

June 195/230 bull call spread
Buy 2026-06-18 $195.00/$230.00 call spread
Debit: $8.55-$10.45
Max loss: $10.45
Max gain: $24.55
BE: $205.45
Trigger: Enter into entry range; trim or roll down if spot < invalidation level (169.53) or after large IV reprice.
Cost-efficient upside capture amid call-pin bias and reduced vega vs naked calls.
Outperforms: Directional, limited-risk spread to play persistent call flow and upside pinning between $187–$197 while capping IV exposure.
Underperforms: Loss of support weakens upside continuation thesis.
Wide June 175/230 strangle
Buy 2026-06-18 $175.00 put + buy $230.00 call
Debit: $15.57-$19.03
Max loss: $19.03
Max gain: Unlimited
BE: 155.97 / 249.03
Trigger: Buy in stated range; consider taking profits on one wing if one-sided move or close before crush.
Cheaper wings capture large moves and upside pin risk with lower premium than straddle.
Outperforms: Non-directional play that benefits from a big move beyond wings while limiting cost vs symmetric straddle.
Underperforms: Insufficient realized move reduces long-strangle edge.
June 195 long straddle
Buy 2026-06-18 $195.00 put + buy $195.00 call
Debit: $33.03-$40.37
Max loss: $40.37
Max gain: Unlimited
BE: 154.63 / 235.37
Trigger: Prefer close into realized move or pre-crush; avoid holding through large expected IV drop.
Max profit if realized move exceeds elevated mid-term IV despite expected post-event crush.
Outperforms: Pure volatility play with highest sensitivity to IV and large cost.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Pinning risk near $187–197 from concentrated call OI
!Possible sharp IV reprice if fundamentals disappoint despite call flow
!Spot 13.6% above MP increases vulnerability to downside gap moves

What to Watch

?Flow into Apr 24 front-week strikes and May 1 expirations
?Shifts in put/call OI or sudden large sell prints
?Realized vol vs implied vs VIX moves pre-earnings
How to Use These Reports
This earnings reflects the market close on April 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.