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AMD

Advanced Micro Devices, Inc.Close $449.59EOD only
Max Pain
$420.00
Next expiry May 22, 2026
Expected Move
±$12.50
2.8% from close
Price Gap
-29.59
Distance to max pain
IV Rank
56
Middle-high premium
P/C OI
1.08
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: May 21, 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 21, 2026 close
AMD Earnings Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMD next earnings 8/4/2026 (75d). IV term structure upward sloping. Flow: net premium +$336M, call volume dominates (PCR 0.83). Beat rate 80% historically.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 7.0% from MP; +1 VIX 17
Most important: Bullish flow bias with large call positions; watch put activity at 435 and 245.
📊Net premium +$336M, call-heavy flow suggests bullish positioning.
⚠️Put/call OI 1.08 near parity; deep OTM puts indicate hedging.
💡Beat rate 80% historically; next earnings in 75 days.

Regime Classification

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

Earnings Overview

Next earnings: 2026-08-04 (75 days)explicit

Expected moves:

  • 2026-05-22 (1d): ±$12.50 (2.8%)
  • 2026-05-29 (8d): ±$33.67 (7.5%)
  • 2026-06-05 (15d): ±$47.70 (10.6%)

IV Setup

Term structure: 1d ±2.8%, 8d ±7.5%, 15d ±10.6% – upward sloping, elevated.

Crush estimate: Earnings 75d out; immediate crush N/A. Post-earnings ~2.8%.

Skew: Put/call OI ratio 1.08, near parity. Unusual put volume at deep OTM strikes (245, 372.5).

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Not provided; beat rate 80% suggests frequent upside surprise.

Directional bias: Historically bullish due to high beat rate and positive flow.

Key Levels

1EM guardrails: 2d $437.09/$462.09; 1w $415.91/$483.26
2Max pain pins: $420 (2026-05-22); $400 (2026-05-29); $400 (2026-06-05)

Flow Highlights

Large put volume at 245P and 372.5P (20x OI)

Bearish hedges or tail risk plays, low cost downside protection.

Notable call activity at 442.5C (9x OI) and 467.5C (11x OI)

Bullish bets near current price, confidence in upside.

Strategies

Volatility Capture
Buy 2026-08-21 $480.00 put + buy $480.00 call
Debit: $118.30-$144.59
Max loss: $144.59
Max gain: Unlimited
BE: 335.41 / 624.59
Trigger: Set stop-loss at max loss (144.59); exit before earnings if IV spikes.
High beat rate (80%) and upward sloping IV support long vol; call volume dominance suggests upside bias with put hedge.
Outperforms: Buy straddle to profit from large move, leveraging historical surprise frequency.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Cheaper Vol Play
Buy 2026-08-21 $440.00 put + buy $520.00 call
Debit: $85.75-$104.80
Max loss: $104.80
Max gain: Unlimited
BE: 335.20 / 624.80
Trigger: Manage delta; consider adjusting if spot approaches strikes.
Lower cost than straddle; still benefits from upward IV and heavy call flow, with put activity providing downside tail risk.
Outperforms: Long strangle captures outsized moves more cheaply; wider strikes reduce premium.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Gamma pinning at $420 (weekly) may cap downside.
!Spot 7% above MP, risk of mean reversion.
!High VIX (17) indicates elevated uncertainty.

What to Watch

?Key level $420 (max pain) for weekly expiry.
?Earnings date 8/4 and pre-announcements.
?Unusual call activity at 442.5 and 467.5 for conviction.
How to Use These Reports
This earnings reflects the market close on May 21, 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.