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AMD

Advanced Micro Devices, Inc.Close $445.50EOD only

Max Pain

$330.00

Next expiry May 15, 2026

Expected Move

±$21.50

4.8% from close

Price Gap

-115.50

Distance to max pain

IV Rank

High premium

P/C OI

1.06

Balanced positioning

Consensus

7.0/10

Bullish tilt

Published snapshot: May 13, 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

May 13, 2026 close

AMD Directional Report

Analysis based on market close May 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias supported by strong GEX/flow alignment and positive gamma pinning, but spot 32% above max pain poses mean-reversion risk. High vol amplifies moves. Confidence 8/10.

Confidence:

8 / 10

Base 5; +2 GEX/flow strongly aligned; +1 GEX positive pinning; +1 VIX 17; -1 spot 32.3% from MP.

Supports: Bullish flow, positive gamma, high vol momentum, strong GEX/dealer long gamma.
Conflicts: Spot far above MP, resistance at $450 and $500, VIX elevated but not extreme.

🟢GEX +$76M and bullish flow align for pinning near highs.

⚠️Spot 32% above $340 MP; risk of snap-back.

📈Dealer long gamma supports price stability.

Regime Classification

Vol Regime

High

High IV reflects elevated uncertainty and expected move expansion.

Gamma Regime

Pinning

Positive gamma pinning near term; no flip risk from dealer positioning.

Flow Regime

Bullish

Net bullish premium flow with dominant call buying.

Spot vs Max Pain

Above

Spot well above max pain; pinning unlikely but gamma supports bid.

Thesis duration: Multi-week — Structural bullish flow and positive gamma support multi-week drift, but spot distance from MP adds fragility.

Price Range Forecast

Next 2 days

$435.30$464.10

Pinning near 2d high $464; gamma support.

Next 1 week

$410.35$489.05

Resistance at $450; upward bias with vol.

Next 2 weeks

$399.40$500.00

Wide range; vol expansion risks, but bias up.

Key Levels

Max pain pins: $340 (2026-05-15); $402 (2026-05-22); $370 (2026-05-29)

EM guardrails: 2d $435.30/$464.10; 1w $410.35/$489.05

Support: $399.40

Resistance: $450.00 · $500.00

Structural: Support $399.4; resistance $450, $500. Max pain pins: $340 (May 15), $402 (May 22), $370 (May 29).

Dealer Positioning (GEX/DEX)

GEX: $+76.3M

DEX: +111.7M shares

Gamma flip: N/A

NTM gamma: Dealers long gamma (+$76.3M GEX, +111.7M DEX) providing stability; no flip proximity.

IV Analysis

IV vs VIX: AMD IV elevated vs VIX (17.26), indicating event risk premium and anticipatory positioning.

Term structure: Contango with front-end kink likely due to weekly events; longer-dated vol normal.

Skew: Put skew elevated; call spreads capitalize on bullish flow with defined risk.

Flow Analysis

Net premium: Net call premium $414M, P/C vol 0.63, bullish.

Directional prints: 54.9 call 450 OTM 2026-05-15 — Vol 19k/OI 5.7k (3.4x); aggressive call buying; bullish. 70.1 call 445 ITM 2026-05-22 — Vol 4.4k/OI 1.3k (3.5x); call sweep; bullish. 55.5 call 452.5 OTM 2026-05-15 — Vol 3.7k/OI 1.3k (2.8x); steady call buying; bullish.

Unusual: 71.8 call 457.5 OTM 2026-05-22 — Vol/OI 7.1, OTM call; new positioning; likely bought. 53.6 put 447.5 OTM 2026-05-15 — Vol/OI 5.2, OTM put; high vol, likely sold (bullish). 71.6 call 610 OTM 2026-06-18 — Vol/OI 4.9, OTM call; speculative buying; bullish.

Risks & Catalysts

!Spot reversal toward max pain $340.

!Broader market pullback (SPY/QQQ).

!Resistance at $450 halts upside.

!Vol contraction if near-term moves exhaust.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-18 $450.00/$500.00 call spread Why now: Defined-risk capture of upside continuation; high IV supports premium sale on short call.	Spot reversal below max pain or resistance at 450 caps upside.
Put credit spread	Moderate	Sell 2026-06-18 $400.00/$350.00 put spread Why now: High IV inflates put premiums; sale at 430 delta~0.33 captures theta decay with cushion.	Broader market selloff breaks support; max loss if spot below 425.
Call diagonal	Conditional	Sell 2026-06-12 $485.00 call / buy 2026-07-17 $470.00 call Why now: Near-term IV elevated; sell 29 DTE call, buy 64 DTE call at same strike for theta-positive vol hedge.	If spot moves sharply, short leg delta mismatch causes P&L pain. Liquidity constraints: short_call: Volume below 5.

Top Plays

Bull Call Spread

Buy 2026-06-18 $450.00/$500.00 call spread

Captures upside continuation with limited risk, using June 450/500 call spread.

Why this play: Best fits bullish multi-week view with defined risk and low vega exposure; high IV enhances credit on short call.

Debit: $16.34-$19.96

Max loss: $19.96

BE: $469.96

Mgmt: Exit near target or if spot invalidates below $399.40, close at 50% max gain or within 7 DTE.

Aggressive traders seeking leveraged upside with capped risk.

Put Credit Spread

Sell 2026-06-18 $400.00/$350.00 put spread

Sells out-of-the-money put spread to collect premium with 430 support.

Why this play: Bullish but with downside buffer; high IV inflates credit, good for theta decay.

Credit: $9.31-$11.38

Max loss: $38.62

BE: $388.62

Mgmt: Manage if spot approaches $400; roll or close to avoid assignment risk.

Moderate bulls preferring premium collection over directional risk.

Call Diagonal

Sell 2026-06-12 $485.00 call / buy 2026-07-17 $470.00 call

Sells short-dated call, buys longer-dated call for vol arbitrage.

Why this play: Exploits near-term IV edge with theta-positive structure, but liquidity concerns lower priority.

Debit: $18.92-$23.13

Max loss: $23.13

BE: Path-dependent

Mgmt: Monitor IV dynamics; adjust strikes if spot moves significantly. Close by June expiration. Liquidity warning: Liquidity constraints: short_call: Volume below 5.

Advanced traders comfortable with illiquid options and variable P&L.

Watchlist Triggers

Entry Triggers

IFIF spot holds above 399.4 support and bullish bias persists → THEN enter bull call spread (buy June $450/$500 call spread) at mid-price ~18.15

IFIF spot dips to 399.4 support and holds, with bullish momentum intact → THEN enter put credit spread (sell June $400/$350 put spread) at mid-price ~10.35

Adjustment Triggers

ADJIF spot trades near 399.4 but does not break, with increased volatility → THEN roll put credit spread to lower strikes or reduce size for downside protection

Exit Triggers

EXITIF spot reaches $450 resistance with signs of stall or reversal → THEN close bull call spread for profit; consider partial or full exit

EXITIF spot breaks below 399.4 on a close → THEN exit all bullish positions immediately to limit losses

Tactical Summary

Bullish bias with support at 399.4 and resistance at 450. High IV supports premium strategies. Favor bull call spread for upside, put credit spread for buffer. Exit on close below 399.4 or if 450 stalls. Avoid call diagonal due to liquidity.

How to Use These Reports

This directional reflects the market close on May 14, 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.