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RBLX

Roblox CorporationClose $45.79EOD only

Max Pain

$45.00

Next expiry May 22, 2026

Expected Move

±$2.12

4.6% from close

Price Gap

-0.79

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.69

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 20, 2026 close

End-of-day snapshot

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

Published Snapshot

May 20, 2026 close

RBLX Flow Report

Analysis based on market close March 31, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 strong net premium bearish; +1 P/C volume ratio >1.2; +1 flow aligns with GEX pinning; -1.5 P/C OI ratio shows long-term call lean

Watch next session: $48 PUT OI (6,923) for hedging pressure; Flow into $61-$62 calls for bullish reversal attempt

Flow Summary

Net premium: -$17.8M bearish

P/C volume ratio: 1.24 — put-dominant

P/C OI ratio: 0.74 — moderate call lean in positioning

Clear bearish flow today with significant net premium outflow, contrasting with a longer-term call-leaning OI structure. The market is paying for downside protection in the near term while maintaining longer-dated bullish exposure.

Notable Prints

RBLX 4/10 $61 Call

Vol: 4,523

OI: 149

Vol/OI: 30.4x

IV: 60.9%

Notional: ~$1.36M (est. premium ~$300 per contract)

Intent: Fresh directional call buying or bullish spread leg

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

Read-through: Given the overall bearish flow and high vol/OI ratio, this is likely a speculative long call purchase targeting a move above $61 within 10 days. It's a counter-trend bet against the dominant put flow.

RBLX 4/17 $80 Put

Vol: 491

OI: 139

Vol/OI: 3.5x

IV: 121.0%

Notional: ~$392,800 (est. premium ~$800 per contract)

Intent: Tail-risk hedge or speculative put purchase

Dual read: Bought (bearish crash protection) or sold (volatility short)

Read-through: Extremely high IV (121%) suggests this is an expensive, out-of-the-money hedge. The size and strike ($80 vs. spot $56.56) point to portfolio protection rather than a direct directional bet on a move to $80.

RBLX 4/24 $57 Put

Vol: 200

OI: 105

Vol/OI: 1.9x

IV: 63.3%

Notional: ~$114,000 (est. premium ~$570 per contract)

Intent: Near-the-money directional put or hedge

Dual read: Bought (bearish) or sold (covered/write)

Read-through: Strike is just above spot. Flow suggests bearish positioning for a move below $57 over the next 3+ weeks, potentially targeting the $48 put OI wall.

RBLX 4/10 $62 Call

Vol: 278

OI: 174

Vol/OI: 1.6x

IV: 60.9%

Notional: ~$83,400 (est. premium ~$300 per contract)

Intent: Follow-on call buying, likely part of a spread with the $61C

Dual read: Bull call spread leg or standalone long call

Read-through: Supports the narrative of concentrated bullish speculation in the $61-$62 zone for the 4/10 expiry, acting as a defined-risk upside bet against the broader bearish flow.

Institutional Positioning

Call additions: Minimal near-term. Long-dated OI clusters at $70, $90, $95 calls suggest longer-term bullish exposure.

Put additions: Significant premium paid for OTM puts ($80-$130). Major OI support at $48 and $55 puts.

GEX/DEX consistency: Yes — Positive GEX ($5.2M) indicates pinning pressure near spot, consistent with heavy OI at $55-$57. Bearish flow (DEX) is fighting against this gamma support.

OI clusters: Call walls: $70 (17,199 OI), $90 (9,699 OI). Put walls: $48 (6,923 OI), $55 (6,905 OI). Creates a near-term channel between $48 and $70.

Hedging evidence: Clear. Large net premium outflow to OTM puts ($80-$130) and substantial OI at protective $48 and $55 puts.

Max pain context: Spot ($56.56) is at/near max pain for the front two expiries ($57, $56). This reinforces the pinning effect from positive GEX and supports range-bound price action in the very near term.

Signal vs Noise

~The massive net premium outflow at strikes $80-$130 is almost certainly institutional hedging (portfolio protection), not a direct bet on those price levels being hit.

~High OI at deep OTM calls ($70, $90, $95) and puts ($25, $35) are likely legacy positions or part of complex multi-leg strategies (e.g., diagonals, calendars), not fresh directional signals.

~The $48 put, while having high OI (6,923), saw high volume (4,692) but is likely a roll or adjustment of an existing hedge given its distance from spot, not a new aggressive bearish bet.

Key Conclusions

⚠️Near-term flow is decisively bearish with -$17.8M net premium, but fighting against positive GEX pinning at max pain.

🛡️Institutions are heavily hedging with OTM puts, paying up for tail-risk protection.

🎯Spot is pinned between max pain ($57) and key put OI support ($55, $48). Break below $55 needed to confirm bearish flow.

⚔️Contrarian bullish speculation exists in $61-$62 calls for 4/10 expiry, creating a defined battle zone.

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.