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PFE

Pfizer, Inc.Close $25.66EOD only

Max Pain

$25.50

Next expiry May 22, 2026

Expected Move

±$0.51

2.0% from close

Price Gap

-0.16

Distance to max pain

IV Rank

Low premium

P/C OI

0.95

Balanced positioning

Consensus

4/4

Partial coverage

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects PFE options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

PFE Flow Report

Analysis based on market close March 31, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 strong bullish net premium & P/C ratio; +1 GEX/flow alignment; -0.5 spot above max pain suggesting resistance

Watch next session: $28.50 call OI buildup; Flow reaction near $30 strike

Flow Summary

Net premium: +$6.3M bullish

P/C volume ratio: 0.40 — extremely call-dominant

P/C OI ratio: 0.82 — moderate put lean in positioning

Extremely bullish volume flow with aggressive call buying, particularly at the $28 strike. This is occurring against a backdrop of heavy put OI at lower strikes ($20-$25), creating a strong gamma pinning effect that supports the current price level.

Notable Prints

PFE 4/17/26 $30.50 Call

Vol: 966

OI: 203

Vol/OI: 4.8x

IV: 23.6%

Notional: ~$27,000

Intent: Fresh directional call buying

Dual read: Bought (bullish breakout bet) or sold/covered (neutral to bearish)

Read-through: This is an aggressive OTM call purchase (8.6% above spot). The 4.8x volume/OI ratio suggests new positioning. Given the overall bullish flow regime, this is likely a directional bet targeting a move toward $30-31.

PFE 4/10/26 $28 Put

Vol: 1,201

OI: 389

Vol/OI: 3.1x

IV: 24.2%

Notional: ~$33,600

Intent: Hedge or short put sale

Dual read: Bought (protective hedge) or sold (bullish income)

Read-through: High volume at the at-the-money put. In the context of strong call buying, this is more likely a short put sale (bullish income play) rather than protective buying. The IV of 24.2% is below the term structure average, supporting a sale interpretation.

PFE 5/15/26 $29 Put

Vol: 463

OI: 290

Vol/OI: 1.6x

IV: 30.9%

Notional: ~$13,400

Intent: Earnings-related hedge

Dual read: Bought (protective) or sold (defined risk)

Read-through: Volume in the May monthly, which contains the next earnings date (5/5/26 est.). The elevated IV (30.9% vs. ~26% for April) suggests this is earnings-related positioning. Likely a hedge against a post-earnings drop.

Institutional Positioning

Call additions: $28, $27, and $30 calls across April expiries, per premium flow data.

Put additions: Minimal recent put buying; large legacy OI at $20-$25 puts.

GEX/DEX consistency: Yes — Positive GEX of +$222.9M aligns with bullish flow and creates a pinning effect near current price.

OI clusters: Major call OI at $28 (87K) and $30 (54K). Major put OI walls at $20 (60K), $24 (52K), and $25 (51K).

Hedging evidence: The massive put OI at $20-$25 represents a large, longer-term hedge or legacy positioning. Recent hedging is light, focused on earnings (May $29P).

Max pain context: Spot ($28.08) is above max pain ($26), creating gravitational pull lower. However, strong bullish flow is pushing against this.

Signal vs Noise

~The $28.50 Put for 4/2 (Vol 447) is likely a near-expiration roll or adjustment, not a new directional bet.

~High volume in the $20 Put (OI 60,221, Vol 81) is noise—this is legacy positioning, not new flow.

~The IV spike in the May 15th $29 Put is earnings-related hedging, not a broad bearish signal.

Key Conclusions

🐂Net premium flow is strongly bullish (+$6.3M) with extreme call dominance (P/C 0.40)

🧲Heavy GEX (+$222.9M) and put OI walls below create strong pinning support, limiting downside

⚠️Spot is 6% above max pain ($26), creating a gravitational headwind against the bullish flow

🎯Watch $30 call OI (54K) as the next major resistance; breakout target is $30.50 (per unusual call flow)

How to Use These Reports

This flow reflects the market close on March 31, 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.