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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 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMD near-term flow bullish with put buying hedging downside. Earnings 74 days out not immediate catalyst.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.7% from MP; +1 VIX 17
Most important: Unusual put buying at $470 (vol/oi ~127) and call buying at $480 (66k vol) indicate mixed positioning but net positive gamma.
⚠️Unusual put volume at $470 (127x OI) signals hedging or directional bet
📈Bullish call flow dominates; net premium +$647M
📌Max pain pins at $422; spot above suggests pinning pressure

Regime Classification

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

Earnings Overview

Next earnings: 2026-08-04 (74 days)explicit

Expected moves:

  • 2026-05-29 (7d): ±$33.20 (7.1%)
  • 2026-06-05 (14d): ±$48.97 (10.5%)
  • 2026-06-12 (21d): ±$60.62 (13.0%)

IV Setup

Term structure: Near-term elevated; 7d IV ~7.1% implied move, longer-dated contango.

Crush estimate: No immediate crush (earnings far out); weekly IV compresses post-expiration.

Skew: Puts cheap relative to calls; OTM calls elevated IV due to demand.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: AMD historically moves near implied; beat rate 80%

Directional bias: Mild bullish; positive surprise tendency

Key Levels

1EM guardrails: 1w $434.31/$500.71
2Max pain pins: $422 (2026-05-22); $400 (2026-05-29); $405 (2026-06-05)

Flow Highlights

Large put buying at $470 (23k vs 185 OI, vol/oi 127)

Hedging or bearish speculation near resistance; not necessarily bearish given overall call interest

Call volume dominates (P/C vol 0.51); large $480 call (66k) and $472.5 call (29k)

Bullish flow; traders expect move higher by week's end

Strategies

Long Strangle
Buy 2026-08-21 $420.00 put + buy $610.00 call
Debit: $61.16-$74.75
Max loss: $74.75
Max gain: Unlimited
BE: 345.25 / 684.75
Trigger: Enter within entry range 61.16-74.75; set stop at max loss 74.75; close before earnings or on expected move.
Only eligible candidate; captures AMD's high beat rate with reduced premium cost.
Outperforms: Buy $420 put and $610 call for earnings move; expresses edge from 80% beat rate and elevated implied vol.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!IV expansion for weekly expiration may lead to rapid decay
!Earnings gap risk persists long-term; no event near
!Open interest at $600 calls could cap upside

What to Watch

?Spot holding above $422 max pain for 5/22
?Unusual put activity expiration: $470 put volume
?Resistance at $516; support $422.5
How to Use These Reports
This earnings reflects the market close on May 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.