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AMD

Advanced Micro Devices, Inc.Close $519.74EOD only

Max Pain

$527.50

Next expiry Jun 26, 2026

Expected Move

±$27.82

5.3% from close

Price Gap

+7.76

Distance to max pain

IV Rank

Low premium

P/C OI

1.18

Slightly put-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: Jun 24, 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 24, 2026 close

AMD Directional Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish directional bias with high confidence supported by strong GEX/flow alignment and pinning mechanics. Spot trading above max pain ($525) with dealer gamma support, targeting next resistance $550 in short term. Risk of gamma flip far below at $390.

Confidence:

9 / 10

Base 5 from regime; +2 GEX/flow strongly aligned; +1 GEX positive pinning; +0.5 spot 1.4% from MP; +0.5 VIX 19 low risk backdrop.

Supports: GEX +$35.3M, DEX +81.2M shares positive; spot above $525 max pain; low VIX 19.
Conflicts: High vol regime, mixed flow; resistance at $550; gamma flip at $390 far below but indicates downside hedging if breached.

🟢Spot above max pain $525, dealer gamma support

⚠️Resistance at $550; break above could accelerate

🔴Gamma flip at $390, significant downside risk if triggered

Regime Classification

Vol Regime

High

Vol regime High relative to norms; VIX 19 provides calm backdrop but AMD IV elevated.

Gamma Regime

Pinning

Gamma pinning active with strong positive GEX; spot above max pain $525, favorable for bulls near expiry.

Flow Regime

Mixed

Flow is Mixed with net premium context; P/C ratio not provided but GEX/flow strongly aligned overall.

Spot vs Max Pain

Above

Spot trading above max pain ($525) by ~1.4%, implying bullish near-term bias with pinning support.

Thesis duration: Event-specific — Proximity to June 26, July 2, July 10 option expiries with max pain pinning creates event-specific opportunity.

Price Range Forecast

Next 2 days

$513.80$551.35

Range $513.80-$551.35; pinning at $525 supports upside to $550 resistance.

Next 1 week

$488.22$576.92

Wider range $488.22-$576.92; max pain $502 and $500 provide support.

Next 2 weeks

$470.32$594.82

Range $470.32-$594.82; uncertainty increases; watch for directional break.

Key Levels

Max pain pins: $525 (2026-06-26); $502 (2026-07-02); $500 (2026-07-10)

EM guardrails: 2d $513.80/$551.35; 1w $488.22/$576.92

Support: $525.00 · $490.00 · $470.32

Resistance: $550.00 · $594.82

Gamma flip: ~$390.00 — Approx — based on put OI concentration of 16,466 (26.8% below spot)

Structural: Support $525 (max pain), $490, $470.32. Resistance $550, $594.82. Gamma flip at $390.

Dealer Positioning (GEX/DEX)

GEX: $+35.3M

DEX: +81.2M shares

Gamma flip: ~$390 (Approx — based on put OI concentration of 16,466 (26.8% below spot))

NTM gamma: Dealer long gamma +$35.3M with positive DEX +81.2M shares; near-term gamma support for bulls at $525.

IV Analysis

IV vs VIX: AMD IV likely rich vs VIX 19 due to high vol regime and event risk; implied volatility elevated but justified by near-term expiries.

Term structure: Term structure steep given multiple option expiries; near-term skew reflects event premium.

Skew: Put skew elevated; consider selling puts at $500 support or buying call spreads targeting $550 resistance.

Flow Analysis

Net premium: Net premium positive $201M, call volume slightly outpacing puts (P/C vol 0.95) but put OI higher (1.19).

Directional prints: 70.8 call 527.5 ITM 2026-07-02 — Vol 637 vs OI 116 (ratio 5.5), high call activity; likely bought open for bullish bet on AMD above $527.5 by July 2. 60.4 call 525 ITM 2026-06-26 — Vol 5,069 vs OI 1,464 (ratio 3.5), heavy call volume near ATM; strong bullish positioning for weekly expiration. 69.6 call 550 OTM 2026-07-02 — Vol 5,025 vs OI 1,240 (ratio 4.0), substantial OTM call buying; speculative upside target.

Unusual: 146.9 put 290 OTM 2026-07-02 — Vol 4,196 vs OI 106 (ratio 39.6), extreme vol/OI; deep OTM puts likely bought as cheap hedge, less directional. 61.8 put 517.5 OTM 2026-06-26 — Vol 2,624 vs OI 457 (ratio 5.7), elevated put activity just OTM; possible protective put buying or bearish wager. 70.8 call 527.5 ITM 2026-07-02 — Vol 637 vs OI 116 (ratio 5.5), high call activity; likely bought open for bullish bet on AMD above $527.5 by July 2.

Risks & Catalysts

!Gamma flip at $390 if downside accelerates

!Resistance at $550 fails to break

!Mixed flow could flip sentiment

!High vol regime may persist with abrupt moves

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-08-21 $560.00/$660.00 call spread Why now: High confidence, defined risk, max profit at $550.	Loss limited to debit paid.
Long call	Strong	Buy 2026-08-21 $660.00 call Why now: High convexity, captures upside above $550.	Time decay if spot flat.
Call diagonal	Moderate-Strong	Sell 2026-07-31 $550.00 call / buy 2026-08-21 $560.00 call Why now: Term structure supports high IV front-month sale.	Short call assignment risk if spot surges.

Top Plays

Bull Call Spread

Buy 2026-08-21 $560.00/$660.00 call spread

Buy $560/$660 call spread expiring Aug 21, capturing upside with limited loss.

Why this play: Defined risk aligns with confident bullish bias, max profit at $550 resistance.

Debit: $25.43-$31.08

Max loss: $31.08

BE: $591.08

Mgmt: Exit if AMD drops below $525 invalidation level.

Moderate risk traders seeking defined risk.

Long Call

Buy 2026-08-21 $660.00 call

Buy $660 call expiring Aug 21, unlimited upside potential.

Why this play: High convexity for aggressive upside capture, suitable for strong directional view.

Debit: $23.58-$28.82

Max loss: $28.82

BE: $688.82

Mgmt: Set stop-loss at $525; consider taking profits near $550 resistance.

Aggressive traders seeking high leverage.

Call Diagonal

Sell 2026-07-31 $550.00 call / buy 2026-08-21 $560.00 call

Sell Jul 31 $550 call, buy Aug 21 $560 call, net credit.

Why this play: Uses term structure to sell front-month IV, but more complex and less direct.

Debit: $10.58-$12.93

Max loss: $12.93

BE: Path-dependent

Mgmt: Monitor IV skew; adjust if momentum stalls above $550.

Advanced traders comfortable with calendar spreads.

Watchlist Triggers

Entry Triggers

IFAMD tests $525 support with bullish reversal candlestick → Buy 2026-08-21 $560/$660 call spread (bull call spread)

IFAMD breaks above $550 resistance and holds for one day → Buy 2026-08-21 $660 call (long call)

Exit Triggers

EXITAMD closes below $525 → Sell all positions: close $560/$660 call spread, $660 call, and $550/$560 diagonal

Tactical Summary

Bullish bias with strong support at $525 (max pain) and resistance at $550. Enter bull spread on pullback to $525; aggressive traders add long call on $550 break. Exit if $525 fails. Gamma flip risk at $390.

How to Use These Reports

This directional reflects the market close on June 25, 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.