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AMD

Advanced Micro Devices, Inc.Close $445.50EOD only
Max Pain
$330.00
Next expiry May 15, 2026
Expected Move
±$21.50
4.8% from close
Price Gap
-115.50
Distance to max pain
IV Rank
91
High premium
P/C OI
1.06
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: May 13, 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
May 13, 2026 close
AMD Earnings Report
Analysis based on market close May 14, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMD bullish setup with strong positive flow, GEX pinning, and high historical beat rate. High IV and 82 days to earnings.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 32.3% from MP; +1 VIX 17
Most important: Unusual call volume and net premium inflows signal bullish positioning; pinning regime supports upside bias.
📈Unusual call flow and net premium surge; bullish conviction high.
⚠️Spot 32% above max pain; pinning effect may weaken.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above

Earnings Overview

Next earnings: 2026-08-04 (82 days)explicit

Expected moves:

  • 2026-05-15 (1d): ±$14.40 (3.2%)
  • 2026-05-22 (8d): ±$39.35 (8.8%)
  • 2026-05-29 (15d): ±$50.30 (11.2%)

IV Setup

Term structure: Upward sloping from 3.2% (1d) to 11.2% (15d), reflecting event uncertainty.

Crush estimate: Moderate crush post-event; expected move ~3%, IV likely contracts ~20-30%.

Skew: Put OI slightly higher but call volume dominates, skew flat to slightly call-bid.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Avg move in line with expected move; historical after-move near 3%.

Directional bias: Bullish (80% beat rate); prior reactions positive.

Key Levels

1EM guardrails: 2d $435.30/$464.10; 1w $410.35/$489.05
2Max pain pins: $340 (2026-05-15); $402 (2026-05-22); $370 (2026-05-29)

Flow Highlights

Unusual call volume: 5/15 $450C (19.2k vol, 3.4x OI) and 5/22 $445C (4.4k vol, 3.5x OI).

Aggressive near-term call buying suggests bullish conviction ahead of next earnings.

Net premium +$414M, put/call vol ratio 0.63.

Dominant call flow, net long premium, bullish sentiment.

Strategies

Vol Expansion Calendar
Sell 2026-05-22 $460.00 call / buy 2026-06-26 $460.00 call
Debit: $20.29-$24.80
Max loss: $24.80
Max gain: Variable
BE: Path-dependent
Trigger: Exit if stock breaks below 399.4 or near earnings; roll if IV spikes.
Upward sloping term structure and bullish flow favor calendar spreads; captures vol expansion with defined risk.
Outperforms: Sell near-term call, buy later call; profits from IV rise and time decay.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
High IV Premium Sale
Sell 2026-05-29 $440.00 put + sell $460.00 call
Credit: $37.08-$45.32
Max loss: Unlimited
Max gain: $45.32
BE: 394.68 / 505.32
Trigger: Close early if stock approaches strikes; adjust if IV collapses.
High IV and pinning regime support contained move; short strangle captures premium with bullish bias.
Outperforms: Sell OTM put and call; profits if stock stays within strikes by expiration.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Range-Bound Income
Sell 2026-05-29 $440.00/$430.00 put wing and $460.00/$470.00 call wing
Credit: $7.18-$8.77
Max loss: $1.23
Max gain: $8.77
BE: 431.23 / 468.77
Trigger: Monitor for early assignment risk; close if stock moves beyond wings.
Lower risk but limited upside given bullish bias; iron condor fits range-bound expectation.
Outperforms: Sell put spread and call spread; profits within defined range.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Spot far from max pain ($340-$402), potential pinning risk declines.
!IV crush may negate premium if move smaller than implied.
!High OI in puts suggests hedging, but not heavy resistance.

What to Watch

?Price action around $450 resistance; break above could accelerate.
?Open interest changes in 5/22 $445C and $457.5C.
?Put activity at $240 floor for downside protection signals.
How to Use These Reports
This earnings reflects the market close on May 14, 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.