The Oklahoma City Thunder hold a clear edge in the Western Conference Finals matchup against the San Antonio Spurs, driven by their status as defending champions with an undefeated 8-0 playoff record entering the series. The Thunder's top-seed finish at 64-18, combined with home-court advantage and Shai Gilgeous-Alexander's consistent production, has shaped trader consensus around their deeper roster experience and defensive identity. Meanwhile, the Spurs' 62-20 regular-season mark and 4-1 head-to-head advantage reflect Victor Wembanyama's impact and strong recent form, yet the lack of prior postseason depth keeps their implied probability lower despite competitive regular-season results. This positioning highlights how playoff momentum and proven championship pedigree continue to influence market sentiment ahead of Game 1.