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AMD

Advanced Micro Devices, Inc.Close $507.29EOD only

Max Pain

$300.00

Next expiry Jun 18, 2026

Expected Move

±$24.90

4.9% from close

Price Gap

-207.29

Distance to max pain

IV Rank

100

High premium

P/C OI

1.12

Slightly put-heavy

Consensus

5.0/10

Range bias

Published snapshot: Jun 16, 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 16, 2026 close

AMD Directional Report

Analysis based on market close June 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias supported by positive GEX, bullish flow, and pinning above max pain. Elevated vol widens ranges, favoring upward drift toward resistance.

Confidence:

7.5 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; -1 spot 1.1% from MP; +0.5 VIX 18

Supports: Positive GEX (+$21.3M), bullish flow, pinning above $495 MP, VIX 18
Conflicts: Spot 1.1% above MP, high IV may mean expensive premium, gamma flip at ~$390

📈GEX +$21.3M positive, pinning near $495 MP supports upside

⚠️Elevated vol relative to VIX signals rich option premium

📉Spot slightly above MP, minor mean reversion risk

Regime Classification

Vol Regime

High

High IV vs typical range, IV likely elevated due to multiple expiries and earnings? VIX at 18.44 suggests systemic vol moderate.

Gamma Regime

Pinning

GEX +$21.3M positive, pinning near $495 max pain, gamma flip at ~$390 based on put OI.

Flow Regime

Bullish

Bullish flow with net premium positive, P/C ratio suggests leaning calls.

Spot vs Max Pain

Above

Spot slightly above max pain at $495, trading near $500 support, confirming pinning zone.

Thesis duration: Multi-week — Multiple expiration cycles (Jun 18, Jun 26, Jul 2) with elevated vol and pinning dynamics imply multi-week directional thesis.

Price Range Forecast

Next 2 days

$493.50$531.45

Support $493.50, resistance $531.45; pinning near $495 supports upside

Next 1 week

$466.15$558.80

Wider range $466.15-$558.80; bullish flow and GEX favor upper half

Next 2 weeks

$453.58$571.38

Range $453.58-$571.38; structural support at $453.58, resistance at $571.38

Key Levels

Max pain pins: $320 (2026-06-18); $495 (2026-06-26); $490 (2026-07-02)

EM guardrails: 2d $493.50/$531.45; 1w $466.15/$558.80

Support: $500.00 · $453.58

Resistance: $571.38

Gamma flip: ~$390.00 — Approx — based on put OI concentration of 16,276 (23.9% below spot)

Structural: Max Pain pins: $320 (Jun18), $495 (Jun26), $490 (Jul2). EM guardrails: 2d $493.50/$531.45, 1w $466.15/$558.80. Support: $500, $453.58. Resistance: $571.38. Gamma flip at ~$390.

Dealer Positioning (GEX/DEX)

GEX: $+21.3M

DEX: +105.4M shares

Gamma flip: ~$390 (Approx — based on put OI concentration of 16,276 (23.9% below spot))

NTM gamma: GEX +$21.3M, DEX +105.4M shares, gamma flip ~$390 based on put OI.

IV Analysis

IV vs VIX: AMD IV elevated (High vol regime) relative to VIX 18.44, indicating rich premium; may present selling opportunities.

Term structure: No specific term structure data; multiple expiries suggest contango typical with higher vol in front.

Skew: Skew not quantified; high IV suggests premium selling or ratio spreads may be attractive.

Flow Analysis

Net premium: Net premium ~$226M, bullish call-buying dominates; P/C vol ratio 0.72 favors calls.

Directional prints: 63.7 call 540 OTM 2026-06-18 — Vol 18,912 vs OI 4,265 (4.4x); likely bought, bullish bet. Preferred read: bullish. 63.2 call 525 OTM 2026-06-18 — Vol 11,624 vs OI 1,491 (7.8x); likely bought, bullish. Preferred read: bullish.

Unusual: 109.4 put 315 OTM 2026-06-26 — Vol 10,058 vs OI 226 (44.5x); likely bought, deep OTM put tail hedge. Preferred read: bearish hedge. 70.4 call 542.5 OTM 2026-06-26 — Vol 1,835 vs OI 166 (11.1x); likely bought, bullish OTM call. Preferred read: bullish.

Risks & Catalysts

!Spot 1.1% above max pain, slight reversal risk

!High IV may compress after event, causing long premium decay

!Gamma flip at ~$390 could accelerate selloff if breached

!Macro selloff (SPY -1.25%) could override bullish flow

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-07-17 $510.00/$520.00 call spread Why now: Positive GEX and dominant call flow support upward move; premium affordable.	Earnings may cause IV crush; spread limits upside if rally exceeds short strike.
Put credit spread	Moderate	Sell 2026-07-17 $500.00/$490.00 put spread Why now: High IV offers rich credit; positive GEX provides downside cushion.	Sharp selloff breach of short put strike could cause losses; width limited.
Bullish risk reversal	Strong	Buy 2026-08-21 $530.00 call / sell 2026-08-21 $500.00 put Why now: Strong bullish flow and positive GEX favor call outperformance; limited downside risk.	Unlimited upside cost if rally exceeds call strike; put assignment risk below short strike.

Top Plays

Bull Call Spread

Buy 2026-07-17 $510.00/$520.00 call spread

Buy 510/520 call spread for 48 days. Captures upward drift with limited downside.

Why this play: Best aligns with dominant bullish call flow and positive GEX. Defined risk with affordable premium, ideal for multi-week uptrend.

Debit: $4.00-$4.89

Max loss: $4.89

BE: $514.89

Mgmt: Exit if spot breaches 500 or at 50% max gain; roll if gamma flips.

Moderate bullish traders seeking capped risk.

Bullish Risk Reversal

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

Buy 530 call, sell 500 put for net credit. Benefits from upward move while collecting premium.

Why this play: Leverages strong call flow and high IV for credit, offering unlimited upside. More aggressive than spread.

Debit: $2.90-$3.55

Max loss: $500.00

BE: $500.00

Mgmt: Monitor gamma risk; close put if spot nears 500. Take profits on call at 50% gain.

Aggressive traders confident in sustained rally.

Put Credit Spread

Sell 2026-07-17 $500.00/$490.00 put spread

Sell 500/490 put spread to collect credit. Positive GEX provides cushion.

Why this play: Consistent with bullish bias but more neutral; lower potential upside than call-based plays.

Credit: $4.21-$5.14

Max loss: $4.86

BE: $494.86

Mgmt: Exit if spot drops below 500; take profit at 50% max credit.

Cautious bullish traders prioritizing time decay.

Watchlist Triggers

Entry Triggers

IFIf spot holds above 500 and bullish lean continues → Enter 510/520 call spread (June 18 expiry)

IFIf spot holds above 500 and bullish momentum persists → Enter bullish risk reversal: buy 530 call, sell 500 put

IFIf spot holds above 500 and cautious bullish → Sell 500/490 put spread

Adjustment Triggers

ADJIf spot approaches gamma flip at 390 → Consider hedging/reducing bullish exposure

Exit Triggers

EXITIf spot breaches 500 → Exit all bullish positions

Tactical Summary

Bullish bias with positive GEX and call flow. Key support at 500; above that, use bull call spread, risk reversal, or put credit spread. Invalidation at 500. Gamma flip at 390 is downside risk.

How to Use These Reports

This directional reflects the market close on June 17, 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.