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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

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 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:

6.5 / 10

base 5; +1.5 strong net premium & P/C ratio; +0.5 flow aligns with GEX pinning; -0.5 low absolute volume and spot at max pain

Watch next session: $49.50 strike activity for direction; Net premium flow at $52.50C and $55C

Flow Summary

Net premium: +$2.6M bullish

P/C volume ratio: 0.69 — call-dominant

P/C OI ratio: 0.83 — moderate call lean

Flow is structurally bullish with positive net premium and call-dominant volume. The market is in a pinning regime (positive GEX) with spot hovering at the dominant max pain level of $50, suggesting a tug-of-war between call buyers and the gravitational pull of large OI.

Notable Prints

VZ 4/10 $49.00 Put

Vol: 1,048

OI: 696

Vol/OI: 1.5x

IV: 31.5%

Notional: ~$52.4K

Intent: Hedge or defined-risk put selling

Dual read: Sold (bullish/income) or bought (protective)

Read-through: Given the bullish net premium context and the $49 strike being below spot and max pain, this is more likely a short put (bullish) as part of a spread or covered strategy, not a directional bearish bet.

VZ 4/2 $49.50 Call

Vol: 339

OI: 122

Vol/OI: 2.8x

IV: 38.6%

Notional: ~$16.9K

Intent: Short-dated directional bet or gamma scalp

Dual read: Bought (bullish breakout) or sold (call overwrite at resistance)

Read-through: High IV (38.6%) for a 2-day option suggests a volatility premium. Given spot is $50.20, buying a $49.50C is a low-delta, high-leverage bet on a move above $50.50. More likely a bullish positioning play.

VZ 4/17 $49.50 Call

Vol: 373

OI: 190

Vol/OI: 2.0x

IV: 18.2%

Notional: ~$18.7K

Intent: Roll from shorter-dated calls or fresh bullish positioning

Dual read: Bought (directional) or sold (covered call)

Read-through: Lower IV (18.2%) compared to the 4/2 call. Volume exceeds OI, indicating new positioning. This could be a roll from the 4/2 or 4/10 calls to capture more time, consistent with a patient bullish view.

VZ 4/10 $49.50 Put

Vol: 248

OI: 156

Vol/OI: 1.6x

IV: 33.8%

Notional: ~$12.4K

Intent: Hedge or spread leg

Dual read: Part of a collar, put spread, or protective put

Read-through: Paired with the large $49P volume, this could be part of a put spread (selling $49P, buying $49.5P for defined risk) or a separate hedge. The elevated IV suggests it was bought, not sold.

Institutional Positioning

Call additions: Net premium flow strongest at $45C, $47C, $52.50C, and $55C. This shows institutional interest in OTM calls for leverage.

Put additions: Minimal net put buying. Largest put OI is defensive ($50P, $38P, $35P, $42P), but current flow isn't adding to them aggressively.

GEX/DEX consistency: Yes — Positive GEX (+$74.8M) confirms the pinning regime and aligns with bullish flow trying to push price higher against the $50 magnet.

OI clusters: Major call wall at $45C (41.5K OI). Major put walls at $50P (17.1K OI) and $38P (15.9K OI). The $50 strike is a key battleground with large Call (16.6K) and Put (17.1K) OI.

Hedging evidence: Some evidence via the $49P and $49.5P activity, but size is small relative to the massive legacy OI at lower strikes ($38P, $35P).

Max pain context: Spot ($50.20) is pinned at the dominant max pain level of $50 across most near-term expiries. This reinforces the GEX pinning narrative and suggests resistance to a sustained directional move in the short term.

Signal vs Noise

~The $45 Call has massive OI (41,465) but very low volume (78). This is legacy positioning, not new flow. Ignore for directional signals.

~The high volume in $49-$49.50 strikes is likely due to their proximity to max pain ($50) and spot, representing gamma trading and hedging, not pure directional bets.

~The elevated IV in the 4/2 $49.50 Call (38.6%) is likely due to short-dated gamma and pinning dynamics, not a fundamental volatility event.

Key Conclusions

📌Market in strong pinning regime (Positive GEX, spot at Max Pain $50). Directional breaks require significant force.

🐂Flow bias is bullish: +$2.6M net premium & P/C ratio of 0.69 show clear call dominance.

🧱Key OI clusters create a $50 battleground with support near $49 and resistance near $52.50.

👀Watch $49.50 strike across multiple expiries. Sustained call buying there could signal a breakout attempt.

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.