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ORCL

Oracle CorporationClose $165.16EOD only
Max Pain
$190.00
Next expiry Jun 26, 2026
Expected Move
±$7.78
4.7% from close
Price Gap
+24.84
Distance to max pain
IV Rank
13
Low premium
P/C OI
0.98
Balanced positioning
Consensus
5.5/10
Bearish tilt
Published snapshot: Jun 23, 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 23, 2026 close
ORCL Earnings Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

ORCL 77d from earnings, near-term IV elevated, mixed flow, strong beat rate, spot below max pain.

Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 14.8% from MP; +0.5 VIX 19
Most important: Aggressive call buying in 2d expiry vs large put OI at $150.
📈2d $160 call buying: aggressive bullish flow.
📉Negative net premium -$153M: hedging pressure.
⚖️Put OI at $150 creates gamma flip risk.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$150.00 — Approx — based on put OI concentration of 11,122 (4.8% below spot)

Earnings Overview

Next earnings: 2026-09-09 (77 days)explicit

Expected moves:

  • 2026-06-26 (2d): ±$6.10 (3.9%)
  • 2026-07-02 (8d): ±$10.83 (6.9%)
  • 2026-07-10 (16d): ±$14.72 (9.3%)

IV Setup

Term structure: Near-term IV 54-65%, longer-dated likely lower; no immediate event.

Crush estimate: Earnings crush ~77d away; no near-term crush.

Skew: Put skew elevated (65% vs 54% call), reflecting hedging.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Historically moves close to implied, slight upside bias.

Directional bias: Slightly bullish given 80% beat rate, but mixed flow.

Key Levels

1$150.00 gamma flip
2EM guardrails: 2d $151.43/$163.63; 1w $146.70/$168.35
3Max pain pins: $185 (2026-06-26); $185 (2026-07-02); $182 (2026-07-10)

Flow Highlights

2d $160 Call volume 6583 vs OI 178 (37x), aggressive buy.

Short-term bullish positioning, likely speculation or covering.

Put OI concentration at $150 (11k contracts).

Key support and gamma flip level.

Strategies

Put diagonal
Sell 2026-07-02 $150.00 put / buy 2026-07-31 $140.00 put
Debit: $1.62-$1.99
Max loss: $1.99
Max gain: Variable
BE: Path-dependent
Trigger: Close before first expiry or roll if support breaks.
Best liquidity and support at $150; slight upside bias.
Outperforms: Sell put near support, buy further put for protection.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Iron condor
Sell 2026-07-02 $150.00/$145.00 put wing and $172.50/$175.00 call wing
Credit: $1.17-$1.43
Max loss: $3.57
Max gain: $1.43
BE: 148.57 / 173.93
Trigger: Close early or adjust if spot challenges wings.
Range-bound; high IV and good liquidity.
Outperforms: Sells wings at support/resistance to capture time decay.
Underperforms: Move outside short strikes invalidates range thesis.
Call diagonal
Sell 2026-07-02 $165.00 call / buy 2026-07-31 $177.50 call
Debit: $1.74-$2.12
Max loss: $2.12
Max gain: Variable
BE: Path-dependent
Trigger: Avoid unless liquidity improves; consider alternative. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.
Slightly bullish but poor liquidity; execution risk.
Outperforms: Calendar spread benefiting from slow drift upward.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!High near-term IV may contract, hurting long premium.
!Spot 18% below max pain $185, potential drift higher.
!Negative net premium -$153M signals institutional hedging.
!77d to earnings reduces event risk.

What to Watch

?Spot hold above $150 support.
?Volume on $160-$170 calls.
?VIX and tech sector sentiment.
?Put OI at $150 for gamma flip.
How to Use These Reports
This earnings reflects the market close on June 24, 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.