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AMD

Advanced Micro Devices, Inc.Close $537.37EOD only
Max Pain
$500.00
Next expiry Jun 26, 2026
Expected Move
±$44.00
8.2% from close
Price Gap
-37.37
Distance to max pain
IV Rank
100
High premium
P/C OI
1.14
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 18, 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 18, 2026 close
AMD Directional Report
Analysis based on market close June 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

AMD is in a high-vol regime with dealers long gamma pinning near $505 max pain, supporting near-term stability. Mixed flow and spot above MP suggest limited upside breakouts, but strong support at $480 and resistance at $623 frame a range-bound outlook. Elevated IV relative to VIX warrants caution on directional bets.

Confidence:
8 / 10
Base 5; +2 GEX/flow aligned; +1 GEX positive (pinning); -1 spot 9.2% from MP; +1 VIX 17 → final 8.0
Supports: Dealer long gamma (+$42.6M), support at $505 and $480, high IV allowing premium collection
Conflicts: Spot above MP (9.2%), mixed flow, high vol may trigger breakouts
📌Max pain pin at $505 for June 26 expiry supports near-term bounce
⚡High IV elevated vs VIX, caution on directional bets
🔻Gamma flip deep at $390 (-29%), low immediate downside risk

Regime Classification

Vol Regime
High
High IV relative to VIX 17.28, indicating elevated event risk or fear
Gamma Regime
Pinning
Pinning regime with dealers long gamma; max pain at $505, gamma flip ~$390
Flow Regime
Mixed
Mixed net premium context; put/call activity not strongly directional
Spot vs Max Pain
Above
Spot above max pain ($505) by 9.2%, pinning possible but carry downside risk
Thesis duration: Multi-week — High vol and structural gamma suggest range-bound behavior over 1-2 weeks, not single event

Price Range Forecast

Next 1 week
$495.46$607.81
Pinning near $505 max pain; range $495-$608
Next 2 weeks
$480.23$623.03
Support $480, resistance $623; mixed signals

Key Levels

Max pain pins: $505 (2026-06-26); $495 (2026-07-02); $495 (2026-07-10)
EM guardrails: 1w $495.46/$607.81
Support: $505.00 · $480.23
Resistance: $623.03
Gamma flip: ~$390.00 — Approx — based on put OI concentration of 16,313 (29.3% below spot)
Structural: Support: $505 (max pain), $480 (lower band); Resistance: $623 (upper band); Gamma flip at $390

Dealer Positioning (GEX/DEX)

GEX: $+42.6M

DEX: +79.8M shares

Gamma flip: ~$390 (Approx — based on put OI concentration of 16,313 (29.3% below spot))

NTM gamma: Dealers long gamma (+$42.6M GEX, +79.8M DEX), pinning near max pain; gamma flip at ~$390 (29% below spot)

IV Analysis

IV vs VIX: IV elevated vs VIX 17.28, implying event premium; rich for sellers

Term structure: Front-week IV steep, backwardation? Not specified; likely elevated near expiries

Skew: Put skew elevated; selling puts near $480 support may be attractive

Flow Analysis

Net premium: Net call premium +$341M; put volume ratio 1.09, OI ratio 1.15, mixed bearish tilt.

Directional prints: 76.9 put 550 OTM 2026-06-26 — Vol 7519 vs OI 269, aggressive put buying, bearish. 78.2 put 532.5 OTM 2026-06-26 — Vol 4799 vs OI 220, heavy put buying, bearish. 77.5 put 540 OTM 2026-06-26 — Vol 6883 vs OI 587, significant put accumulation, bearish.

Unusual: 76.9 put 550 OTM 2026-06-26 — Extreme vol/OI ratio 27.9 => aggressive put buying, bearish outlier. 78.2 put 532.5 OTM 2026-06-26 — Vol/OI 21.8 => large put order, bearish. 78.2 call 545 ITM 2026-06-26 — Vol 4652 vs OI 880, call buying amid bearish flow, contrarian bullish.

Risks & Catalysts

!Break below $505 support could trigger gamma flip acceleration
!Earnings or macro event disrupting pinning regime
!Volatility expansion if spot reaches gamma flip at $390

Strategy Viability

StrategyEdgeBest SetupPrimary Risk

Top Plays

Watchlist Triggers

Entry Triggers
IFIf spot breaks below $480 support → Consider bearish strategies on breakdown
IFIf spot breaks above $623 resistance → Consider bullish strategies on breakout

Tactical Summary

High IV, pinning near $505 max pain. Support $480, resistance $623. No valid candidates currently; wait for price extremes to re-evaluate.
How to Use These Reports
This directional reflects the market close on June 22, 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.