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AMD

Advanced Micro Devices, Inc.Close $475.51EOD only
Max Pain
$487.50
Next expiry Jun 12, 2026
Expected Move
±$31.38
6.6% from close
Price Gap
+11.99
Distance to max pain
IV Rank
83
High premium
P/C OI
1.11
Slightly put-heavy
Consensus
7.5/10
Bullish tilt
Published snapshot: Jun 9, 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 9, 2026 close
AMD Earnings Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMD earnings 56 days away; high IV, strong bullish call flow near term, but put OI ratio elevated. Neutral positioning with upside bias.

Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 20
Most important: Unusual call volume in 6/12 strikes (455-482.5) suggests bullish positioning ahead of weekly expiration.
📈Unusual call buying in 6/12 OTM strikes (455-482.5) suggests bullish bias near term.
⚠️Put OI ratio >1 and large 500P volume signal hedging/skepticism at high strikes.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$390.00 — Approx — based on put OI concentration of 16,245 (18.0% below spot)

Earnings Overview

Next earnings: 2026-08-04 (56 days)explicit

Expected moves:

  • 2026-06-12 (3d): ±$31.38 (6.6%)
  • 2026-06-18 (9d): ±$47.25 (9.9%)
  • 2026-06-26 (17d): ±$60.85 (12.8%)

IV Setup

Term structure: Upward sloping, short-dated IV elevated near 80% for weekly expirations, longer-dated around 70-85%.

Crush estimate: Post-earnings IV crush likely significant; expected move of ±12.8% for 6/26 implies high premium decay.

Skew: Skew leans bullish near term with call IV elevated; put IV also high but OI concentrated at 390-415.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: AMD has historically moved average ±8% vs implied ~10% over last 4 quarters; beat rate 80%.

Directional bias: Slight bullish bias post-earnings due to consistent beats.

Key Levels

1$390.00 gamma flip
2EM guardrails: 2d $444.13/$506.88; 1w $428.26/$522.76
3Max pain pins: $488 (2026-06-12); $250 (2026-06-18); $470 (2026-06-26)

Flow Highlights

High vol/oi ratios on 6/12 calls: 455C (11.3x), 465C (9.1x), 482.5C (8.6x) with OI jumps.

Aggressive buying in short-dated OTM calls, likely speculative on near-term upside.

Large put volume on 6/18 500P (5.3x vol/oi) and 6/12 460C (7.7x vol/oi) showing mixed flow.

Hedging or directional bets; 500P suggests downside protection near high strike.

Strategies

Short Strangle Ahead of AMD Earnings
Sell 2026-07-17 $470.00 put + sell $500.00 call
Credit: $67.12-$82.03
Max loss: Unlimited
Max gain: $82.03
BE: 387.97 / 582.03
Trigger: Monitor gamma risk near expiration; close if underlying approaches either strike or before earnings to avoid IV crush.
High IV and upward term structure favor theta decay; short strangle maximizes premium collection with defined strikes outside expected range.
Outperforms: Sell 2026-07-17 $470 put and $500 call to capture elevated IV premium with defined risk range.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Gamma flip at $390 (put OI wall) increases downside risk below that level.
!IV crush post-earnings could negate premium collected from options.
!Max pain pins (488, 250, 470) may act as magnets for expirations.

What to Watch

?Weekly expiration action: 6/12 call OI concentration near 455-482.5.
?Earnings date proximity; 56 days out but early positioning may intensify.
?Flow in 6/18 500P and 7/10 460P for downside sentiment.
How to Use These Reports
This earnings reflects the market close on June 9, 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.