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AMD

Advanced Micro Devices, Inc.Close $511.57EOD only

Max Pain

$260.00

Next expiry Jun 18, 2026

Expected Move

±$39.38

7.7% from close

Price Gap

-251.57

Distance to max pain

IV Rank

100

High premium

P/C OI

1.10

Slightly put-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: Jun 12, 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 12, 2026 close

AMD Directional Report

Analysis based on market close June 11, 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 June 11, 2026. A newer directional report is available for June 12, 2026.

View latest report

Outlook

Bullish thesis: high vol, bullish flow, gamma pinning near $480, spot above MP, QQQ momentum support upside to $507 near-term. Key risk is reversal below $480.

Confidence:

9 / 10

Base confidence of 5. Adjustments: +2 for aligned GEX and flow, +1 for positive gamma, +0.5 for spot above max pain, +0.5 for VIX at 19.

Supports: Bullish flow, positive GEX, spot above MP, high vol momentum.
Conflicts: Gamma flip at $390, resistance at $500, max pain draw if spot reverses.

📈Momentum from QQQ +3.38% drives bullish flow.

📍Pinning near $480 max pain, dealers long gamma.

⚠️Gamma flip at $390 if spot drops 20%+.

Regime Classification

Vol Regime

High

High; 3.38% QQQ rally elevated IV.

Gamma Regime

Pinning

+$61M GEX, pinning near $480 max pain, flip at $390.

Flow Regime

Bullish

Bullish; net premium positive.

Spot vs Max Pain

Above

Spot above MP (~$480), bullish bias.

Thesis duration: Multi-week — High vol + bullish flow + gamma pinning + spot above MP = sustained bias.

Price Range Forecast

Next 2 days

$470.05$506.85

Support $470, resistance $507; momentum from QQQ.

Next 1 week

$446.93$529.98

Range $447-$530; key $500 resistance.

Next 2 weeks

$430.38$546.53

Range $430-$547; breakout above $500 targets higher.

Key Levels

Max pain pins: $480 (2026-06-12); $260 (2026-06-18); $470 (2026-06-26)

EM guardrails: 2d $470.05/$506.85; 1w $446.93/$529.98

Support: $480.00 · $430.38

Resistance: $500.00 · $546.53

Gamma flip: ~$390.00 — Approx — based on put OI concentration of 16,273 (20.2% below spot)

Structural: Max Pain $480 (Jun12), $485 (Jun18), $470 (Jun26); Gamma Flip ~$390; Support $480/$430; Resistance $500/$547.

Dealer Positioning (GEX/DEX)

GEX: $+61.0M

DEX: +99.2M shares

Gamma flip: ~$390 (Approx — based on put OI concentration of 16,273 (20.2% below spot))

NTM gamma: GEX +$61M, DEX +99.2M shares, gamma flip ~$390.

IV Analysis

IV vs VIX: Elevated vs VIX (19.44) due to high vol regime.

Term structure: Likely contango with kinks at Jun12/18/26 expiries.

Skew: Skew steep; upside calls attractive given bullish bias.

Flow Analysis

Net premium: Net premium $324.7M positive with P/C volume ratio 0.65 (calls dominant), indicating strong bullish flow.

Directional prints: 68 call 467.5 ITM 2026-06-12 — Vol 3313 vs OI 465 (ratio 7.1); likely bought (bullish) given high call demand.

Unusual: 64.9 call 475 ITM 2026-06-12 — Vol 5638 vs OI 832 (ratio 6.8); likely bought (bullish) given high call demand. 67 call 470 ITM 2026-06-12 — Vol 8734 vs OI 1328 (ratio 6.6); likely bought (bullish) given high call demand. 65 call 477.5 ITM 2026-06-12 — Vol 2163 vs OI 353 (ratio 6.1); likely bought (bullish) given high call demand.

Risks & Catalysts

!Spot drop below $480 triggering gamma flip.

!Macro reversal after QQQ rally.

!Earnings risk if scheduled.

!Overbought conditions.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-08-21 $480.00/$570.00 call spread Why now: Defined risk, upside exposure with lower vol headwind; expiration after earnings captures follow-through.	Upside capped at $510; downside if spot drops below $480; earnings miss could reverse.
Bullish risk reversal	Strong	Buy 2026-08-21 $520.00 call / sell 2026-08-21 $440.00 put Why now: Fits high vol and strong delta flow; zero-cost or small credit; captures move beyond $510.	Unlimited upside but limited downside? Actually short put caps gains if stock drops; put delta adds risk.
Put credit spread	Moderate-Strong	Sell 2026-08-21 $440.00/$370.00 put spread Why now: IV high, credit attractive; gamma pin near $480 supports; defined risk if reversal.	Max loss if spot < short strike; earnings gap risk; credit limited upside.

Top Plays

Bull Call Spread 480/570

Buy 2026-08-21 $480.00/$570.00 call spread

Buy 480 call, sell 570 call. Gains if AMD rallies above ~$515; max gain $54.72, max loss $35.28.

Why this play: Best aligned with bullish thesis: defined risk, captures upside to $570, expires after earnings. Outranks risk reversal due to lower downside; outranks put credit as more direct bullish bet.

Debit: $28.87-$35.28

Max loss: $35.28

BE: $515.28

Mgmt: Exit if spot drops below $480; take profits near $570 or decay post-earnings.

Traders seeking defined-risk bullish exposure with earnings catalyst.

Bullish Risk Reversal 440/520

Buy 2026-08-21 $520.00 call / sell 2026-08-21 $440.00 put

Buy 520 call, sell 440 put. Unlimited upside potential; downside risk below $440.

Why this play: Higher reward potential with zero/credit cost; suits aggressive traders. Outranks put credit because it profits more from upside; outranked by spread due to higher risk if reversal.

Debit: $13.32-$16.28

Max loss: $440.00

BE: $440.00

Mgmt: Monitor below $480; consider closing if puts become ITM.

Aggressive traders comfortable with unlimited upside and downside risk.

Put Credit Spread 440/370

Sell 2026-08-21 $440.00/$370.00 put spread

Sell 440 put, buy 370 put. Max profit $25.25 if AMD >$440 at expiration; max loss $44.75 below $370.

Why this play: Conservative bullish play: collects credit with defined risk. Outranked by others because it benefits more from time decay than directional move, less upside.

Credit: $20.66-$25.25

Max loss: $44.75

BE: $414.75

Mgmt: Let expire if above $440; roll if approaches $440.

Conservative traders wanting income with directional bias.

Watchlist Triggers

Entry Triggers

IFIF AMD holds above $480 → THEN buy 480/570 bull call spread ~$32

IFIF AMD holds above $480 AND 5-day RSI > 60 (momentum) → THEN enter risk reversal: buy 520c sell 440p

IFIF AMD holds above $480 AND 5-day RSI <= 60 (no momentum) → THEN sell 440/370 put spread ~$23 credit

Exit Triggers

EXITIF AMD drops below $480 → THEN exit all: close bull call, risk reversal, put credit

Tactical Summary

Bullish bias, support $480. Momentum defined as 5-day RSI > 60. Top plays: 1) bull call 480/570, 2) risk reversal 440/520 if momentum, else 3) put credit 440/370. Duration multi-week, earnings 2026-08-04.

How to Use These Reports

This directional reflects the market close on June 11, 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.