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AMD

Advanced Micro Devices, Inc.Close $245.04EOD only

Max Pain

$215.00

Next expiry Apr 17, 2026

Expected Move

±$13.72

5.6% from close

Price Gap

-30.04

Distance to max pain

IV Rank

100

High premium

P/C OI

1.10

Slightly put-heavy

Consensus

6.0/10

Consensus signal

Published snapshot: Apr 10, 2026 close

End-of-day snapshot

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

Published Snapshot

Apr 10, 2026 close

AMD Directional Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 6, 2026. A newer directional report is available for April 10, 2026.

View latest report

Outlook

Bullish with pinning near $220-$225; confidence 7.5/10. Strong GEX +$57.8M and net premium +$39.9M support upside, but spot 4.8% above max pain $210 creates gravitational pull.

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.8% from MP

Supports: GEX +$57.8M (pinning), net premium +$39.9M, flow bullish
Conflicts: Spot above max pain $210, IV high at 61.2%

📊GEX +$12.1M at $220 pin magnet

💰Net premium +$39.9M bullish

⚠️Spot 4.8% above max pain $210

Regime Classification

Vol Regime

High

IV 61.2% — high vol favors premium selling

Gamma Regime

Pinning

GEX +$57.8M concentrated near spot — pinning regime

Flow Regime

Bullish

Net prem +$39.9M with P/C vol 0.77 — bullish flow

Spot vs Max Pain

Above

Spot $220.18 above MP $210 — gravitational pull down

Thesis duration: Multi-week — Max pain ladder trends from $210 to $200 over 16 expirations; GEX sign stable positive; flow regime consistent across expirations

Price Range Forecast

Next 2 weeks

$199.38$240.98

GEX pinning dominates; <$215 invalidates

Key Levels

Max pain pins: $210 (2026-04-10); $210 (2026-04-17); $210 (2026-04-24)

EM guardrails:

Support: $215.00 · $210.00 · $200.00

Resistance: $225.00 · $230.00 · $240.00

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 21,310 (9.2% below spot)

Structural: Call OI wall $240-$240 caps upside; put floor $120-$200 provides distant support

Dealer Positioning (GEX/DEX)

GEX: $+57.8M

DEX: +72.2M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 21,310 (9.2% below spot))

NTM gamma: Positive GEX concentrated at $220-$225; gamma flip ~$200 — below that accelerates selling

IV Analysis

IV vs VIX: IV 61.2% — high vol, no VIX comparison provided

Term structure: Humped — 4/10 57.7% > 4/17 53.8% > 5/8 58.9%

Skew: 4/10 vs 4/17 ~4 vol-pt differential for calendar

Flow Analysis

Net premium: +$39.9M bullish; P/C vol 0.77

Directional prints: put 220 OTM 2026-04-10 — Vol 16,594 vs OI 566 (29.3x) — likely bought as hedge put 225 ITM 2026-04-10 — Vol 6,390 vs OI 201 (31.8x) — likely sold for premium

Unusual: 54.7 call 242.5 OTM 2026-04-10 — Vol 5,058 vs OI 562 (9.0x) — speculative upside

Risks & Catalysts

!Gamma flip ~$200 breaks pin and accelerates selling

!Spot 4.8% above max pain $210 creates downward pull

!High IV 61.2% risks vol crush post-pin

!Earnings 2026-05-05 adds event risk

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Long stock	Moderate-Strong	Buy shares at $220.18	Max pain pull to $210
Short stock	Weak	Avoid — bullish flow and GEX pinning	GEX pinning resists downside
Covered call	Moderate-Strong	Buy shares, sell $230 call 4/17	Upside capped at $230
Cash-secured put / put spread	Moderate-Strong	Sell $215/$210 put spread 4/17	Gamma flip <$200
Long calls	Moderate	Buy $225 call 4/17	High IV 61.2% crushes
Long puts / bear put spreads	Moderate-Weak	Avoid — bullish flow	GEX pinning resists
Iron condor	Moderate	$215/$210P x $230/$235C 4/17	High IV >28 and GEX positive
Calendar/diagonal	Moderate-Strong	Sell 4/10 $225 call (IV 56.1%), buy 4/17 $225 call (IV 53.4%) — +2.7pt edge	Pin release widens range
PMCC / LEAPS diagonal	Moderate	Buy 2027-01-15 $200 call, sell 4/17 $230 call	High IV on long leg

Top Plays

Put Spread

Sell $215/$210 put spread 4/17

Defined-risk premium below GEX pin with max pain support

Credit: $1.45-$1.55

Max loss: $3.55

BE: $213.55

Mgmt: Close at 60-70% max profit; cut if spot <$210

Defined-risk premium collection in bullish pin

Covered Call

Buy shares at $220.18, sell $230 call 4/17

Income generation with upside to resistance; aligns with bullish flow

Credit: $4.05-$4.25

Max loss: unlimited

BE: $216.18

Mgmt: Roll up if spot >$228; take profit at 50% premium decay

Shareholders seeking income

Calendar Spread

Sell 4/10 $225 call, buy 4/17 $225 call

Vol differential +2.7pt edge; extra week improves pin management

Debit: $-0.90-$-1.10

Max loss: $0.90

Mgmt: Close when near-term IV crushes; adjust if spot breaks $230

Vol traders exploiting term structure

Watchlist Triggers

Entry Triggers

IFSpot tags $215, holds 30 min → Sell $215/$210 put spread 4/17

IFIV 4/10 >58% and spot near $220 → Sell 4/10 $225 call

Exit Triggers

EXITVIX spikes >30 and spot <$215 → Exit all short premium

EXITSpot >$235 → Take profit on long calls

Tactical Summary

Bullish pin near $220-$225 with max pain $210 pull. Invalidation: <$215. Favors short premium below pin and covered calls. Put spread for defined risk, covered call for income, calendar for vol edge.

Read the Directional analysis for AMD for 2026-04-06. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.