Home Options AMDReports

AMD

Advanced Micro Devices, Inc.Close $467.51EOD only

Max Pain

$400.00

Next expiry May 29, 2026

Expected Move

±$33.20

7.1% from close

Price Gap

-67.51

Distance to max pain

IV Rank

High premium

P/C OI

1.09

Balanced positioning

Consensus

7.5/10

Bullish tilt

Published snapshot: May 22, 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 22, 2026 close

AMD Directional Report

Analysis based on market close May 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

AMD is bullish over 1-2 weeks driven by positive dealer gamma, strong flow, and moderate VIX, but spot is 24% above max pain, creating mean-reversion risk. Confidence at 8/10, with supports from GEX/flow alignment and conflicts from distance to MP.

Confidence:

8 / 10

Base 5 adjusted: +2 GEX/flow alignment, +1 GEX pinning, -1 spot vs MP distance, +1 VIX 17 → net 8.0.

Supports: Bullish flow, positive GEX (+$67.4M), dealer hedging, upward price ranges, moderate VIX.
Conflicts: Spot 24.4% above max pain, high vol regime, resistance at guardrails ($535.97/557.59).

🔺Bullish flow & GEX alignment support upside.

⚠️Spot 24% above MP risks mean reversion.

📊Dealer gamma provides floor near $405.

📈VIX at 17: moderate vol environment.

Regime Classification

Vol Regime

High

Vol is High: IV elevated relative to VIX (17) and sector, driven by event risk and bullish positioning.

Gamma Regime

Pinning

Gamma is Pinning: GEX +$67.4M positive; put concentration at $405 creates a soft floor. Dealer hedging adds stability.

Flow Regime

Bullish

Flow is Bullish: net premium positive, call buying dominates P/C ratio.

Spot vs Max Pain

Above

Spot is Well Above MP: currently 24.4% above max pain ($405), indicating bullish momentum but divergence risk.

Thesis duration: Multi-week — Upcoming expiries (May 29, Jun 5, Jun 12) with max pain below, but dealer gamma and flow support drift higher over 1-2 weeks.

Price Range Forecast

Next 2 days

$471.82$535.97

Resist at $535.97 (2d guardrail); gamma flip far below at $405.

Next 1 week

$450.19$557.59

Support $450.19, resistance $557.59; flow and GEX support upside.

Next 2 weeks

$436.79$570.99

Key support $436.79, structural resistance $570.99; drift higher expected.

Key Levels

Max pain pins: $405 (2026-05-29); $410 (2026-06-05); $420 (2026-06-12)

EM guardrails: 2d $471.82/$535.97; 1w $450.19/$557.59

Support: $436.79

Resistance: $570.99

Gamma flip: ~$405.00 — Approx — based on put OI concentration of 10,929 (19.6% below spot)

Structural: Max pain pins: $405 (5/29), $410 (6/05), $420 (6/12). EM guardrails: 2d $471.82-$535.97, 1w $450.19-$557.59. Key support $436.79, resistance $570.99. Gamma flip ~$405 (19.6% below spot).

Dealer Positioning (GEX/DEX)

GEX: $+67.4M

DEX: +101.1M shares

Gamma flip: ~$405 (Approx — based on put OI concentration of 10,929 (19.6% below spot))

NTM gamma: GEX +$67.4M, DEX +101.1M shares. Gamma flip at ~$405 based on put OI (10,929 contracts).

IV Analysis

IV vs VIX: IV is rich relative to VIX (17) and sector, reflecting event premium and bullish expectations.

Term structure: Term structure likely upward sloping into next expiries (May 29, Jun 5), with kinks at weekly dates due to options concentration.

Skew: Skew shows elevated puts at $405 (gamma flip); opportunity in bull put spreads or call spreads if staying above support.

Flow Analysis

Net premium: Net call premium ~$1B dominates despite higher put volume.

Directional prints: 76.5 call 510 OTM 2026-05-29 — Vol 8795 vs OI 1410 (6.2x), large directional call buy; likely bought for upside. Prefer bought. 78.8 call 540 OTM 2026-05-29 — Vol 5262 vs OI 516 (10.2x), heavy volume; probable buyer betting on rally. Prefer bought.

Unusual: 75.5 put 500 OTM 2026-05-29 — Vol/OI 48.2, extremely high; possible hedging or bearish speculation. Notable but direction unclear. 76.4 put 480 OTM 2026-05-29 — Vol/OI 37.8, very high; similar to $500 put, may be part of spread. Unusual flow.

Risks & Catalysts

!Sharp correction if dealer gamma flips below $405.

!Mean reversion to max pain if bullish flow fades.

!Resistance at 2d guardrail $535.97 caps short-term upside.

!Event risk (earnings/guidance) not accounted for in this analysis.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-12 $560.00/$610.00 call spread Why now: Defined risk upside capture; strong call flow supports further gains.	Mean reversion to max pain if bullish flow fades; guarded by 2d resistance $535.
Put credit spread	Moderate	Sell 2026-06-12 $460.00/$415.00 put spread Why now: Strong call flow reduces downside risk; defined risk premium play.	Sharp correction if dealer gamma flips below $405.
Bullish risk reversal	Moderate-Weak	Buy 2026-06-18 $570.00 call / sell 2026-06-18 $455.00 put Why now: Cheap convexity; call buying suggests demand for upside.	Unlimited downside if sharp reversal; short put assignment.

Top Plays

Bull Call Spread

Buy 2026-06-12 $560.00/$610.00 call spread

Buy $560/$610 call spread for June 12; captures upside with limited loss.

Why this play: Best fits bullish thesis with defined risk; strong call flow supports upside.

Debit: $7.38-$9.02

Max loss: $9.02

BE: $569.02

Mgmt: Exit if spot falls below $437 or near expiration if OTM.

Traders wanting upside exposure with capped risk.

Bullish Risk Reversal

Buy 2026-06-18 $570.00 call / sell 2026-06-18 $455.00 put

Buy $570 call, sell $455 put for June 18; low cost, high upside.

Why this play: Cheap convexity from call buying; unlimited gain potential.

Debit: $0.23-$0.28

Max loss: $455.00

BE: $455.00

Mgmt: Close if spot drops below $455 or call loses IV.

Aggressive traders with high conviction.

Put Credit Spread

Sell 2026-06-12 $460.00/$415.00 put spread

Sell $460/$415 put spread for June 12; benefits if spot stays above $460.

Why this play: Collects premium with defined risk; aligns with bullish flow.

Credit: $8.55-$10.45

Max loss: $34.55

BE: $449.55

Mgmt: Roll if spot approaches $460 or exit early for partial profit.

Income-focused traders in bullish trend.

Watchlist Triggers

Entry Triggers

IFIF spot holds above $471.82 (2d lower guardrail) and resumes uptrend with bullish flow → Enter Bull Call Spread: buy $560/$610 call spread for June 12

Adjustment Triggers

ADJIF spot approaches $535.97 (2d upper guardrail) or $557.59 (1w upper guardrail) → Take partial profits on Bull Call Spread; consider rolling up

Exit Triggers

EXITIF spot closes below $436.79 (key support) or rejects at $570.99 (resistance) with bearish reversal → Exit all bullish positions immediately

Tactical Summary

AMD bullish 1-2w with strong flow & gamma support, but 24% above max pain ($405) risks mean reversion. Key support $436.79, resistance $570.99. Prefer defined-risk bull call spread on pullback to guardrails. Exit if support breaks or resistance holds.

How to Use These Reports

This directional reflects the market close on May 26, 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.