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AMD

Advanced Micro Devices, Inc.Close $547.26EOD only

Max Pain

$270.00

Next expiry Jun 18, 2026

Expected Move

±$34.27

6.3% from close

Price Gap

-277.26

Distance to max pain

IV Rank

100

High premium

P/C OI

1.12

Slightly put-heavy

Consensus

7.5/10

Bullish tilt

Published snapshot: Jun 15, 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 15, 2026 close

AMD Directional Report

Analysis based on market close June 16, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias near-term as gamma pinning near $490-$495 and GEX positive ($+33.1M) support spot above MP ($300). However, high vol and mixed flow warrant caution; upside limited to resistance $567. A break below $458.77 (1w low) weakens thesis.

Confidence:

8 / 10

Base 5; +2 GEX/flow alignment; +1 GEX pinning; -1 spot 69.1% from MP; +1 VIX 16; total 8.0. Override not needed.

Supports: GEX +$33.1M, gamma pinning near $490/$495, spot above MP, low VIX 16
Conflicts: Vol high, flow mixed, spot far from MP ($300), QQQ down -1.9%

📌Gamma pinning at $490 (2026-06-26) and $495 (2026-07-02) supports spot hold near current levels.

⚠️Spot is 69.1% above max pain ($300) - wide deviation raises reversal risk if vol spikes.

📊Dealer GEX +$33.1M positive, reducing delta-hedge selling pressure on dips.

Regime Classification

Vol Regime

High

High: IV elevated vs VIX (16.4), typical for semiconductor names with multiple events (opex 6/18, weekly 6/26, 7/2).

Gamma Regime

Pinning

Pinning: GEX +$33.1M positive, gamma flip at ~$390 (23% below). Key put concentration creates support near that level, but spot far above.

Flow Regime

Mixed

Mixed: Net premium unclear; put OI heavy at $300 but call activity balances. P/C ratio not extreme.

Spot vs Max Pain

Above

Above: Spot ~$500, max pain $300. 69.1% above - large gap suggests potential mean reversion if catalyst absent.

Thesis duration: Event-specific — Key pinned expirations within 2 weeks (6/18, 6/26, 7/02). Thesis tied to these events and gamma dynamics.

Price Range Forecast

Next 2 days

$482.39$532.19

Gamma pinning near $490-$495 and GEX+ support bounce towards upper range $532.19.

Next 1 week

$458.77$555.82

Range $458.77-$555.82. Hold $490 level key; break above $532 opens path to $555.82.

Next 2 weeks

$447.32$567.27

Wide range $447.32-$567.27. Event risk from opex; directional uncertain past pinned expiries.

Key Levels

Max pain pins: $300 (2026-06-18); $490 (2026-06-26); $495 (2026-07-02)

EM guardrails: 2d $482.39/$532.19; 1w $458.77/$555.82

Support: $500.00 · $447.32

Resistance: $567.27

Gamma flip: ~$390.00 — Approx — based on put OI concentration of 16,273 (23.1% below spot)

Structural: Support: $500 (immediate), $447.32 (2w low). Resistance: $567.27 (2w high). Gamma Flip: ~$390 (approx). Max Pain pins: $300 (6/18), $490 (6/26), $495 (7/2). EM Guardrails: 2d $482.39/$532.19, 1w $458.77/$555.82.

Dealer Positioning (GEX/DEX)

GEX: $+33.1M

DEX: +98.6M shares

Gamma flip: ~$390 (Approx — based on put OI concentration of 16,273 (23.1% below spot))

NTM gamma: GEX +$33.1M positive (bullish). Gamma flip at ~$390, far below spot. Dealer long gamma supports near-term stability, but flip zone may attract price if selloff occurs.

IV Analysis

IV vs VIX: AMD IV is elevated relative to VIX (16.4), reflecting semiconductor-specific risk and multiple near-term expirations. Rich IV suggests options are pricing event premium.

Term structure: Term structure shows kinks around 6/18, 6/26, and 7/02 expiries. Front-end elevated due to opex, back-end normalizing. Contango flattening post-events.

Skew: Put skew elevated below $450; no extreme. A short strangle inside the 2w EM guardrails ($458.77-$555.82) could capture high IV crush post-opex.

Flow Analysis

Net premium: Net call premium +86.4M, PC vol ratio 0.96, OI ratio 1.12, but directional prints show 2 puts vs 1 call, suggesting bearish tilt.

Directional prints: 64 put 527.5 ITM 2026-06-18 — Vol/OI 12.7x, high. Likely bought bearish put. Preferred read: bearish opening. 62 put 537.5 ITM 2026-06-18 — Vol/OI 11.7x, high. Likely bought bearish put. Preferred read: bearish opening. 69.1 call 525 OTM 2026-06-18 — Vol/OI 5.2x, elevated. Likely bought bullish call. Preferred read: bullish opening.

Unusual: 74.2 put 430 OTM 2026-06-26 — Vol/OI 4.9x, far OTM put. Unusual for deep strike. Likely bought as hedge or bearish bet. 65.2 put 517.5 ITM 2026-06-18 — Vol/OI 5.2x, elevated. Another put buying. Confirms bearish flow. 70.3 call 527.5 OTM 2026-06-18 — Vol/OI 4.0x, moderate. Call buying at same strike as put, possibly collar.

Risks & Catalysts

!Spot far above MP ($300) may revert if VIX spikes or flow turns negative.

!Mixed flow and high vol suggest lack of strong directional conviction.

!QQQ weakness (-1.9%) could drag AMD lower if tech sentiment deteriorates.

!Gamma flip at $390 is a risk if spot breaks below $458 support.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-08-21 $590.00/$710.00 call spread Why now: Captures upside to resistance while limiting cost and theta decay.	Upside capped; full loss of premium if spot falls below long strike.
Put credit spread	Moderate	Sell 2026-08-21 $460.00/$410.00 put spread Why now: Collects premium with defined risk below support levels.	Loss if spot drops below short put; spreads limit loss.
Call diagonal	Moderate	Sell 2026-07-02 $555.00 call / buy 2026-08-21 $590.00 call Why now: Sells rich near-term IV, owns back-month call for directional vol edge.	Large move against short call may cause loss; theta decay works if spot stable.

Top Plays

Bull Call Spread

Buy 2026-08-21 $590.00/$710.00 call spread

Buy 590/710 call spread for leveraged upside with limited cost and theta decay.

Why this play: Best aligns with bullish bias and defined risk, capturing upside to resistance.

Debit: $19.24-$23.51

Max loss: $23.51

BE: $613.51

Mgmt: Exit if spot breaks below 500 invalidation.

Directional bulls seeking capped risk.

Call Diagonal

Sell 2026-07-02 $555.00 call / buy 2026-08-21 $590.00 call

Sell 555 call, buy 590 call to profit from IV drop and bullish move.

Why this play: Exploits rich near-term IV and directional vol edge with back-month call.

Debit: $21.87-$26.73

Max loss: $26.73

BE: Path-dependent

Mgmt: Monitor vol; adjust if spot nears 555.

Volatility traders with neutral-bullish view.

Put Credit Spread

Sell 2026-08-21 $460.00/$410.00 put spread

Sell 460/410 put spread for income, betting spot stays above 460.

Why this play: Collects premium with defined risk, but bearish tilt contradicts thesis.

Credit: $16.04-$19.61

Max loss: $30.39

BE: $440.39

Mgmt: Roll if spot approaches 460.

Income-focused traders expecting support holds.

Watchlist Triggers

Entry Triggers

IFIF spot holds above $500.00 support and holds above 2d EM guardrail $482.39 → THEN buy AMD 2026-08-21 $590/$710 bull call spread near $19.24-$23.51

IFIF spot remains above $500.00 and near-term IV is elevated → THEN sell AMD 2026-07-02 $555 call / buy 2026-08-21 $590 call diagonal near $21.87-$26.73

Exit Triggers

EXITIF spot breaks below $500.00 invalidation level → THEN exit all bullish positions (bull call spread and call diagonal) and avoid put credit spread

Tactical Summary

Bullish bias near-term with key support at $500 and resistance at $567. Gamma pinning near $490-$495 supports spot. Top play: bull call spread (590/710) for capped upside. Invalidation at $500 break. Call diagonal (sell 555/buy 590) exploits IV. Risks: high vol, mixed flow, tech weakness may drag. Exit if below $500.

How to Use These Reports

This directional reflects the market close on June 16, 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.