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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 15, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias driven by strong GEX/flow alignment and positive gamma pinning, but caution as spot far above MP and vol is high.

Confidence:

8 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive; -1 spot far from MP; +1 VIX 16 => 8.

Supports: GEX/flow alignment, bullish flow, pinning dynamics.
Conflicts: Spot 102.7% above MP, high vol regime.

📈GEX+$60M and bullish flow align for upward pinning.

⚠️Spot ~$547 far above $270 MP; pullback risk.

📊High IV offers premium selling opportunity near expiry.

Regime Classification

Vol Regime

High

High IV vs typical; VIX 16 adds tailwind.

Gamma Regime

Pinning

GEX +$60.2M, pinning; flip at ~$390 (28.7% below spot).

Flow Regime

Bullish

Bullish net premium; P/C ratio supports upside.

Spot vs Max Pain

Above

Spot ~$547 vs MP $270; 102.7% above, drift upward expected.

Thesis duration: Event-specific — Event-specific due to monthly expiry on 2026-06-18 with pinning dynamics.

Price Range Forecast

Next 2 days

$512.99$581.54

Pinning to upper end within $512.99-$581.54.

Next 2 weeks

$476.56$617.96

Extended range $476.56-$617.96; support at $476.56.

Key Levels

Max pain pins: $270 (2026-06-18); $470 (2026-06-26); $480 (2026-07-02)

EM guardrails: 2d $512.99/$581.54

Support: $476.56

Resistance: $600.00 · $617.96

Gamma flip: ~$390.00 — Approx — based on put OI concentration of 16,280 (28.7% below spot)

Structural: Max pain pins: $270(18Jun), $470(26Jun), $480(2Jul); EM guardrails 2d $512.99/$581.54; support $476.56, resist $600/$617.96; gamma flip ~$390.

Dealer Positioning (GEX/DEX)

GEX: $+60.2M

DEX: +101.6M shares

Gamma flip: ~$390 (Approx — based on put OI concentration of 16,280 (28.7% below spot))

NTM gamma: GEX +$60.2M, DEX +101.6M shares; gamma flip at ~$390.

IV Analysis

IV vs VIX: Ticker IV elevated vs VIX 16; high vol regime implies rich premiums.

Term structure: Contango expected with 18Jun expiry; near-term vol higher.

Skew: Skew shows downside demand; sell near-term calls to capture premium.

Flow Analysis

Net premium: Net premium ~$636M positive, P/C vol ratio ~1.02 (slight put volume edge), but positive net premium indicates call buying dominates; neutral-bullish bias.

Directional prints: 75.9 call 555 OTM 2026-06-18 — Vol 6272 vs OI 680 (9.2x), likely new bullish positions; preferred read: bullish. 75.1 call 552.5 OTM 2026-06-18 — Vol 3661 vs OI 539 (6.8x), similar bullish buying; preferred read: bullish.

Unusual: 74.1 put 535 OTM 2026-06-18 — Vol 3133 vs OI 103 (30.4x), unusual put activity; could be hedging or bearish bets; preferred read: cautious bearish given context. 74.2 put 550 ITM 2026-06-18 — Vol 4830 vs OI 212 (22.8x), concentrated put activity; likely hedging against rally or bearish positioning; preferred read: neutral. 74.4 put 540 OTM 2026-06-18 — Vol 2180 vs OI 107 (20.4x), noteworthy put volume; potential hedging or speculative; preferred read: neutral.

Risks & Catalysts

!Spot 102.7% above MP increases pullback risk.

!High IV regime may compress post-expiry.

!Gamma flip at $390 (28.7% below spot) could accelerate downside.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-08-21 $540.00/$580.00 call spread Why now: Strong directional print at 555 call suggests bullish positioning. Bull call spread limits risk in high IV.	Pullback risk if spot reverts to MP; max loss is debit paid.
Bullish risk reversal	Moderate-Strong	Buy 2026-08-21 $580.00 call / sell 2026-08-21 $490.00 put Why now: Bullish flow and positive net premium support upside. High put premium funds call purchase.	Unlimited downside if spot drops sharply; short put obligates purchase.
Cash-secured put	Moderate	Sell 2026-08-21 $470.00 cash-secured put Why now: Caution of pullback suggests selling put below spot to enter at discount while collecting premium.	Obligation to buy shares if spot declines below strike; opportunity cost if rally.

Top Plays

Bull Call Spread

Buy 2026-08-21 $540.00/$580.00 call spread

Buy 540/580 call spread to capture upside with defined max loss.

Why this play: Best aligns with bullish flow while limiting risk in high IV.

Debit: $14.69-$17.96

Max loss: $17.96

BE: $557.96

Mgmt: Exit if spot < $476.56 before expiry.

Risk-conscious bullish traders.

Bullish Risk Reversal

Buy 2026-08-21 $580.00 call / sell 2026-08-21 $490.00 put

Buy call and sell put for cheap upside exposure.

Why this play: Leverages bullish flow and high put premium to fund upside.

Debit: $17.10-$20.90

Max loss: $490.00

BE: $490.00

Mgmt: Monitor gamma; adjust if spot nears short put strike.

Aggressive bullish traders comfortable with unlimited risk.

Cash-Secured Put

Sell 2026-08-21 $470.00 cash-secured put

Sell $470 put to collect premium and potentially buy at discount.

Why this play: Exploits pullback risk by selling put below spot for premium.

Credit: $30.89-$37.76

Max loss: $432.24

BE: $432.24

Mgmt: Hold to expiry or buy back if spot drops below $476.56.

Income-focused traders expecting mild bullish or neutral move.

Watchlist Triggers

Entry Triggers

IFIF spot holds above $476.56 support with bullish momentum → Buy 540/580 call spread (max loss $17.96)

IFIF spot remains above $476.56 and shows strength → Enter bullish risk reversal: buy 580 call, sell 490 put

IFIF spot pulls back towards $476.56 but holds → Sell 470 cash-secured put to collect premium (max gain $37.76)

Exit Triggers

EXITIF spot breaks below $476.56 → Exit all bullish positions immediately

Tactical Summary

Execute top-ranked bull call spread for controlled risk in high IV. If bias strengthens, use risk reversal for cheap upside. For income, sell put near support. Invalidation at $476.56. Resist $600/$617.96. Manage gamma flip risk at $390.

How to Use These Reports

This directional reflects the market close on June 15, 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.