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VZ

Verizon Communications Inc.Close $47.82EOD only
Max Pain
$47.00
Next expiry May 22, 2026
Expected Move
±$0.78
1.6% from close
Price Gap
-0.82
Distance to max pain
IV Rank
6
Low premium
P/C OI
0.89
Slightly call-heavy
Consensus
4/4
Partial coverage
Published snapshot: May 20, 2026 close
End-of-day snapshot

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

Published Snapshot
May 20, 2026 close
VZ Earnings Report
Analysis based on market close March 31, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Earnings expected ~4/27 (27 days out). IV is normal (29%), expected move is modest (±$2.42, 4.8% for 4/24 expiry). Strong pinning at $50 suggests a range-bound outcome. Best strategy is selling premium via iron condor, with long straddle as a low-probability volatility expansion play.

Confidence:
6 / 10
base 5; +1 strong pinning at $50; +0.5 consistent beat history; -0.5 low expected move
Most important: Spot at $50.20 aligns perfectly with max pain and gamma flip, indicating powerful dealer pinning forces.
📌Powerful pinning at $50 (spot $50.20, max pain $50, gamma flip ~$50). This is the dominant technical force.
✅100% EPS beat rate last 4 quarters. Consistent but small surprises (+$0.02-$0.04).
📅Earnings expected ~4/27. Use 4/24 or 5/01 expiries to capture the event.

Regime Classification

Vol Regime
Normal (IV 29%)
Gamma Regime
Pinning (GEX +$74.8M — mean-reverting)
Flow Regime
Bullish (net prem +$2.6M, P/C 0.69)
Spot vs MP
At max pain $50 (spot $50.20)
Gamma flip: ~$50.00 — Dealer hedging supports spot near $50; below $50, selling pressure could accelerate.

Earnings Overview

Next earnings: 2026-04-27 (27 days)explicit

Expected moves:

  • 4/24 (24d): ±$2.42 (4.8%)
  • 5/01 (31d): ±$3.26 (6.5%)

IV Setup

Term structure: No sharp kink yet. 4/24 expiry IV 26.1%, 5/01 expiry IV 28.7%. Slight hump at 5/08 (33.8%).

Crush estimate: ~3-5 vol pts post-earnings, back to ~23-25% range.

Skew: Flow is bullish (P/C 0.69), but unusual activity shows puts at $49-$49.50 for 4/10 expiry.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Data not provided for historical price moves. EPS surprise consistent +$0.02 to +$0.04.

Directional bias: Unknown

Key Levels

1$50 gamma flip & max pain
2$45 call OI wall (41,465)
3$52.50 call OI wall (14,794)
4EM 4/24: $47.5 - $52.5

Flow Highlights

Heavy bullish premium flow into $45C (+$449K net), $47C (+$339K), $52.50C (+$338K).

Institutional accumulation of OTM calls suggests longer-term bullish positioning.

Unusual put volume at $49P (4/10 expiry: 1,048 vol vs 696 OI) and $49.50P (248 vol).

Near-term hedging or bearish bets just below the pin, potentially defining a short-term floor.

Strategies

Iron Condor (Premium Sale)
Sell $47.5/$45P x Buy $52.5/$55C 4/24 expiry
Credit: $0.65-$0.85
Max loss: $1.85
Max gain: $0.75
BE: $46.15 / $53.85
Trigger: Enter 5-10 days before earnings as IV expands.
Low expected move (4.8%), strong pinning at $50, and historical EPS beats suggest a contained reaction. Strikes align with OI walls and EM boundaries.
Outperforms: Stock stays within $47.5-$52.5 range (within EM). IV crushes post-earnings.
Underperforms: Stock gaps beyond $45 or above $55.
Long Straddle (Volatility Expansion)
Buy $50 straddle 5/01 expiry
Max loss: $3.26
Max gain: Unlimited
BE: $46.74 / $53.26
Trigger: Enter 1-2 weeks before earnings if IV remains below 30%.
Provides pure volatility exposure. 5/01 expiry captures earnings with a 6.5% EM, offering more room for a surprise than the 4.8% EM. Low probability but high payoff if guidance shocks.
Outperforms: Actual move exceeds 6.5% (breaching EM).
Underperforms: Stock pins at $50 and IV crushes post-earnings.
Bull Put Spread (Pinning Play)
Sell $47.5P / Buy $45P 4/24 expiry
Credit: $0.40-$0.55
Max loss: $2.05
Max gain: $0.50
BE: $47.00
Trigger: Enter at any time, given strong pinning.
Capitalizes on the strong pinning forces at $50 and bullish flow. Defines risk below the expected move lower bound ($47.78).
Outperforms: Stock stays above $47.5.
Underperforms: Stock breaks below $47.5 and approaches $45.

Risk Assessment

!Gap Risk: Low-to-moderate. Expected move is modest (4.8%-6.5%), but a guidance shock could break the pin.
!IV Crush: Moderate. IV is only 29%, so crush magnitude may be limited (~3-5 vol pts).
!Liquidity: Good. High OI at key strikes ($45, $50, $52.50).
!Sizing: Standard. No extreme volatility regime warrants oversized positions.

What to Watch

?IV expansion in the 5/01 and 5/08 expiries as earnings approaches.
?Spot behavior relative to $50 — any sustained break could signal a shift.
?Unusual put activity near $49-$49.50 for signs of increased downside hedging.
How to Use These Reports
This earnings 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.