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ORCL

Oracle CorporationClose $157.53EOD only
Max Pain
$185.00
Next expiry Jun 26, 2026
Expected Move
±$6.10
3.9% from close
Price Gap
+27.47
Distance to max pain
IV Rank
20
Low premium
P/C OI
0.99
Balanced positioning
Consensus
6.5/10
Bearish tilt
Published snapshot: Jun 24, 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 24, 2026 close
ORCL Earnings Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

ORCL earnings 76 days out (Sep 9). Near-term focus: 0DTE and weekly IV elevated, spot near $152 below MP. Heavy ITM put buying at 185-200 strikes with extreme IV (>200%) suggests hedging or downside protection. Net premium negative, put volume elevated. Confidence base 6.5.

Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 10.3% from MP; +0.5 VIX 19
Most important: Heavy 0DTE ITM put buying at 185-200 with IV >200% indicates large hedging; watch post-close for directional shift.
⚠️Deep ITM put buying at 185-200 with IV >200% suggests large downside hedge ahead of close.

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 11,166 (1.6% below spot)

Earnings Overview

Next earnings: 2026-09-09 (76 days)explicit

Expected moves:

  • 2026-06-26 (1d): ±$3.91 (2.6%)
  • 2026-07-02 (7d): ±$9.60 (6.3%)
  • 2026-07-10 (15d): ±$13.67 (9.0%)

IV Setup

Term structure: Front-end elevated (0DTE IV >45%); back-end earnings IV not yet priced. Steep term structure.

Crush estimate: N/A for earnings; near-term crush large after tomorrow's close.

Skew: Put skew extreme on 0DTE, deep ITM puts trading at IV >200%.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Not explicitly given; beat rate 80% suggests consistent upside.

Directional bias: Typically bullish post-earnings (80% beat rate).

Key Levels

1$150.00 gamma flip
2EM guardrails: 2d $148.56/$156.37; 1w $142.86/$162.06
3Max pain pins: $170 (2026-06-26); $170 (2026-07-02); $182 (2026-07-10)

Flow Highlights

Concentrated 0DTE put buying at $185 and $200 strikes with IV >200%, volume/oi ratio >3.

Likely hedging or synthetic short positioning; signals downside risk into close.

Strategies

Iron Condor on Elevated IV
Sell 2026-07-10 $145.00/$140.00 put wing and $170.00/$175.00 call wing
Credit: $1.69-$2.07
Max loss: $2.93
Max gain: $2.07
BE: 142.93 / 172.07
Trigger: Manage if spot approaches 145 or 170; exit at 50% max gain.
Rich credit from high IV; stock range 145-170 offers high probability zone.
Outperforms: Sell OTM put and call wings to capture elevated implied volatility.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar on IV Skew
Sell 2026-07-02 $170.00 call / buy 2026-08-21 $170.00 call
Debit: $6.10-$7.46
Max loss: $7.46
Max gain: Variable
BE: Path-dependent
Trigger: Exit if spot drops below $150 invalidation; adjust if early expiration.
Front-end IV inflated by hedging; back-month cheaper; net credit with upside.
Outperforms: Sell short-term call, buy longer-term call at same strike to exploit term structure.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Earnings 76 days away; no IV reflects earnings uncertainty.
!Spot 10.3% below max pain ($170); pin risk into 0DTE expiration.
!Net negative premium (-$166M) and put-heavy volume ratio (1.20).

What to Watch

?0DTE pin action: spot vs max pain $170.
?Post-close flow for next week's positioning.
?Earnings date Sep 9; watch for guidance shifts.
How to Use These Reports
This earnings reflects the market close on June 25, 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.