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AMD

Advanced Micro Devices, Inc.Close $523.20EOD only

Max Pain

$500.00

Next expiry Jun 5, 2026

Expected Move

±$16.12

3.1% from close

Price Gap

-23.20

Distance to max pain

IV Rank

High premium

P/C OI

1.10

Balanced positioning

Consensus

6.5/10

Bullish tilt

Published snapshot: Jun 4, 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

Jun 4, 2026 close

AMD Directional Report

Analysis based on market close June 4, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias short-term due to positive dealer GEX and bullish flow, but spot above max pain ($500) and high IV warrant caution; confidence 8.5/10.

Confidence:

8.5 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; -0.5 spot above MP; +1 low VIX.

Supports: Positive GEX $72M, bullish flow, low VIX, event pinning.
Conflicts: Spot above MP, high IV, resistance $579.93.

📌Gamma pin ~$500; spot $523, pullback risk if pin fails.

✅Bullish flow confirms uptrend; call support intact.

Regime Classification

Vol Regime

High

High relative to typical; event-driven premium; VIX 15.4 adds tail risk.

Gamma Regime

Pinning

Strong positive GEX +$72M; gamma flip ~$500 based on put OI 10,132 (4.4% below spot).

Flow Regime

Bullish

Net bullish flow; P/C ratio supportive; sustained call buying.

Spot vs Max Pain

Above

Spot $523.6, 4.6% above MP $500; dealer gamma long below, short above.

Thesis duration: Event-specific — Jun5 expiry; max pain $500; gamma flip at same level; event-driven pinning.

Price Range Forecast

Next 2 days

$507.08$539.33

Pinning $500; spot near mid; expiry day volatility.

Next 1 week

$479.43$566.98

Post-event extension possible; support $500, resistance $567.

Next 2 weeks

$466.48$579.93

Structural uptrend; resistance $580; support $466.

Key Levels

Max pain pins: $500 (2026-06-05); $488 (2026-06-12); $240 (2026-06-18)

EM guardrails: 2d $507.08/$539.33; 1w $479.43/$566.98

Support: $500.00 · $466.48

Resistance: $579.93

Gamma flip: ~$500.00 — Approx — based on put OI concentration of 10,132 (4.4% below spot)

Structural: Max Pain $500 (Jun5), $488 (Jun12), $240 (Jun18). EM: 2d $507/$539, 1w $479/$567. Support $500, $466. Resistance $580. Gamma flip $500.

Dealer Positioning (GEX/DEX)

GEX: $+72.1M

DEX: +100.5M shares

Gamma flip: ~$500 (Approx — based on put OI concentration of 10,132 (4.4% below spot))

NTM gamma: GEX +$72.1M, DEX +100.5M shares, gamma flip ~$500 (put OI 10,132).

IV Analysis

IV vs VIX: IV rich vs VIX 15.4; event premium may compress post-June5.

Term structure: Short-dated elevated; back months flatter; kink at Jun5 expiry.

Skew: Put skew elevated; consider put calendar spreads if pin expected.

Flow Analysis

Net premium: Net call premium dominates; low put/call vol ratio suggests bullish bias.

Directional prints: 68.2 call 525 OTM 2026-06-12 — Vol 1953 vs OI 314 (6.2x) suggests new bullish buying; OTM call speculation. 67.9 call 535 OTM 2026-06-12 — Vol 1705 vs OI 206 (8.3x) indicates aggressive call buying; OTM bullish bet. 71.7 call 597.5 OTM 2026-06-12 — Vol 1296 vs OI 148 (8.8x) suggests speculative long OTM calls; high IV reflects demand.

Unusual: 137.5 put 285 OTM 2026-06-12 — Vol 3576 vs OI 162 (22.1x) extremely unusual; likely bought as tail hedge despite low premium. 71.7 call 597.5 OTM 2026-06-12 — High vol/oi 8.8x for far OTM call; possibly sold to collect premium or bullish speculation. 52.1 put 522.5 OTM 2026-06-05 — Vol 1893 vs OI 229 (8.3x) near expiration; may be hedging or bearish flip given low IV.

Risks & Catalysts

!Pullback to $500 if gamma flip fails

!IV crush after earnings/event

!Resistance $580 holds

!Broader market decline (QQQ -0.48%)

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-08-21 $520.00/$540.00 call spread Why now: Bull call spread captures upside with limited cost, suitable for event-specific bullish view.	IV crush post-event can hurt if held through earnings; resistance at $580 may cap upside.
Bullish risk reversal	Moderate	Buy 2026-08-21 $530.00 call / sell 2026-08-21 $500.00 put Why now: Risk reversal provides cheap upside convexity; selling put at support uses high IV premium to offset call cost.	Unlimited downside risk on short put if stock drops below 500; requires active management.

Top Plays

Bull Call Spread

Buy 2026-08-21 $520.00/$540.00 call spread

Buy $520/$540 call spread expiring 2026-08-21, OTM with good liquidity.

Why this play: Limited risk, defined profit captures upside with low cost, ideal for event-specific bullish view.

Debit: $7.20-$8.80

Max loss: $8.80

BE: $528.80

Mgmt: Set invalidation at $500; exit near $540 or before earnings.

Traders seeking defined risk and profit target.

Bullish Risk Reversal

Buy 2026-08-21 $530.00 call / sell 2026-08-21 $500.00 put

Buy $530 call, sell $500 put expiring 2026-08-21.

Why this play: Cheap upside convexity using high IV premium from put sale at support.

Debit: $12.78-$15.62

Max loss: $500.00

BE: $500.00

Mgmt: Monitor spot near $500; consider rolling or closing if trend reverses.

Traders willing to accept downside risk for low-cost upside.

Watchlist Triggers

Entry Triggers

IFIF spot holds above $500 support after a bounce → THEN enter AMD_BS_01 Bull Call Spread (buy $520/$540 call, exp 21Aug26)

IFIF spot trades near $500 and shows reversal from support → THEN enter AMD_RR_01 Bullish Risk Reversal (buy $530 call, sell $500 put, exp 21Aug26)

Exit Triggers

EXITIF spot closes below $500 (invalidation level) → THEN exit both AMD_BS_01 and AMD_RR_01 positions immediately

Tactical Summary

Bullish bias into earnings; key support $500, resistance $580. Enter bull call spread or risk reversal on bounce from $500. Invalidate if spot breaks $500. Profits target near $540-$580.

How to Use These Reports

This directional reflects the market close on June 4, 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.