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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 Flow Report
Analysis based on market close April 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Flow Verdict

BiasBullish
Confirmation: Large near-dated call prints (notably 4/24 and 5/1), +$118M GEX and +66.5M dex indicate bullish, pinning flow around current strikes.
Invalidation: Significant uptick in put buying or spot retreat toward mid-price (~13.6% below current) or a gamma flip with concentrated put OI would negate pinning.
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

Watch next session: Monitor call expiry 4/24 open interest and trade flow; Watch put volume/IV spike near 180–190 strikes; Track intraday spot drift toward mid-price

Flow Summary

Net premium: +$102.1M bullish

P/C volume ratio: 0.34

P/C OI ratio: 0.75

Bullish, pinning regime: concentrated near-dated call flow and strong positive GEX support prices; downside invalidated by renewed put demand, a rapid spot pullback toward mid-price, or a gamma flip.

Notable Prints

#1
ORCL 2026-05-15 $187.50 Call
Vol: 1,520
OI: 113
Vol/OI: 13.4x
IV: 56.0%
Notional: ~$1.6M
Intent: Directional call buy
Dual read: Buy or dealer delta hedge

Read-through: Front-month bullish flow

#2
ORCL 2026-04-24 $197.50 Call
Vol: 3,652
OI: 681
Vol/OI: 5.4x
IV: 54.8%
Notional: ~$270K
Intent: Short-dated upside buy
Dual read: Spec or spread leg

Read-through: Near-term upside pressure

#3
ORCL 2026-05-29 $170.00 Put
Vol: 2,128
OI: 426
Vol/OI: 5.0x
IV: 53.7%
Notional: ~$1.2M
Intent: Protective put or bearish
Dual read: Portfolio hedge or sell-write

Read-through: Tail protection demand

#4
ORCL 2026-04-24 $202.50 Call
Vol: 1,630
OI: 323
Vol/OI: 5.0x
IV: 59.0%
Notional: ~$57K
Intent: Short-dated upside speculation
Dual read: Directional or roll

Read-through: Concentrated short-term upside

#5
ORCL 2026-05-15 $225.00 Call
Vol: 477
OI: 104
Vol/OI: 4.6x
IV: 57.1%
Notional: ~$74K
Intent: High-strike bullish bet
Dual read: Directional or structured trade

Read-through: Longer-term upside exposure

Institutional Positioning

Call additions: Short‑dated and May call buys concentrated 187.5–210; largest OI at 210 (short‑dated cluster, ~20% of cluster OI).

Put additions: Notable short‑dated put activity at 180–190 and May‑29 170—appears defensive but smaller than call cluster in size.

GEX/DEX consistency: GEX ~+$118M and DEX ~+66.5M shares—positive, supporting bullish flow but magnitude is moderate vs total market gamma so alignment is suggestive, not definitive.

OI clusters: Largest OI pockets: 210 (May‑01 largest single short‑dated concentration), 187.5 & 197.5 (Apr‑24), 180–190 put bands (Apr‑24/May‑01).

Hedging evidence: Presence of puts and elevated IV consistent with downside hedging/collar construction; insufficient data to assert net premium direction.

Max pain context: Spot sits above computed max pain; short‑dated strike concentrations near 187–210 raise localized pinning risk rather than guaranteed pin.

Signal vs Noise

~Signal: concentrated Apr‑24/May‑01 call OI (187.5–210) plus positive GEX/DEX magnitudes.
~Signal: clustered short‑dated puts at 180–190 indicating protective hedges.
~Noise: isolated longer‑dated single prints (May‑15/29) with smaller OI vs clusters.

Key Conclusions

📌Bullish-leaning flow: concentrated short‑dated calls (187.5–210) alongside +GEX ~$118M and +DEX ~66.5M—supports potential pinning pressure but not certain.
⚠️Defensive put activity and higher IV signal downside hedge risk; watch if tape weakens as bids may tighten around put bands.
How to Use These Reports
This flow 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

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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.