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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 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMD 55D to earnings. High IV, bullish history. Call flow upside, spot below max pain. Caution: high VIX.

Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.2% from MP
Most important: Call OI wall $500-600, net positive premium bullish, but spot below max pain.
📈Aggressive call flow near-dated, 470 call high vol/oi.
⚡Gamma flip near $390; high put OI concentration.
📉Spot below max pain $482; potential pinning.

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 16,243 (13.8% below spot)

Earnings Overview

Next earnings: 2026-08-04 (55 days)explicit

Expected moves:

  • 2026-06-12 (2d): ±$25.12 (5.6%)
  • 2026-06-18 (8d): ±$43.45 (9.6%)
  • 2026-06-26 (16d): ±$57.85 (12.8%)

IV Setup

Term structure: Steep contango: 2d 56% IV, 8d 96%, 16d 128%.

Crush estimate: N/A pre-earnings.

Skew: Put OI heavy $390, calls $500+.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Avg move 7.5% vs implied 5.8%; often surpasses.

Directional bias: Bullish bias historically.

Key Levels

1$390.00 gamma flip
2EM guardrails: 2d $427.27/$477.52; 1w $408.95/$495.85
3Max pain pins: $482 (2026-06-12); $260 (2026-06-18); $470 (2026-06-26)

Flow Highlights

High vol/oi on 2026-06-12 $470 call (5.9x).

Aggressive near-dated upside hedging.

Unusual 2026-09-18 $420 put (vol/oi 4.9x).

Longer-term bearish hedge.

Strategies

Iron condor
Sell 2026-06-18 $435.00/$412.50 put wing and $475.00/$500.00 call wing
Credit: $11.84-$14.47
Max loss: $10.53
Max gain: $14.47
BE: 420.53 / 489.47
Trigger: Exit if spot breaches short strikes or before earnings; consider rolling if challenged.
Defined risk, centered on high OI walls, collects premium from elevated IV.
Outperforms: Captures time decay and IV crush with limited risk, using put/call wings near major OI levels.
Underperforms: Move outside short strikes invalidates range thesis.
Call diagonal
Sell 2026-06-18 $482.50 call / buy 2026-07-17 $530.00 call
Debit: $6.12-$7.48
Max loss: $7.48
Max gain: Variable
BE: Path-dependent
Trigger: Monitor invalidation at $394.55; close if long call loses time value or spot weakens.
Exploits steep contango; long back-month call benefits from bullish bias while short front-month decays.
Outperforms: Neutral-to-bullish strategy that profits from time decay in front month and directional move in back month.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Bull call spread
Buy 2026-08-21 $450.00/$470.00 call spread
Debit: $7.51-$9.18
Max loss: $9.18
Max gain: $10.82
BE: $459.18
Trigger: Exit if spot falls below $394.55 invalidation; take profit near $470.
Defined risk bullish play with cheaper premium; aligns with historical bullish bias.
Outperforms: Bullish strategy profiting if spot moves above $470 by expiration; limited risk.
Underperforms: Loss of support weakens upside continuation thesis.
Short strangle
Sell 2026-06-18 $430.00 put + sell $482.50 call
Credit: $20.50-$25.05
Max loss: Unlimited
Max gain: $25.05
BE: 404.95 / 507.55
High IV, range-bound EM guardrails, spot near max pain, undefined tails but defined risk within guardrails.
Outperforms: Sell OTM call and put to capture elevated IV pre-earnings within guardrails; neutral bias.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Spot 6.2% below max pain ($482).
!Gamma flip at $390 from put OI.
!High VIX and negative QQQ context.

What to Watch

?EM guardrails: $427.27/$477.52.
?Call wall $500-$600, put floor $285-$390.
How to Use These Reports
This earnings reflects the market close on June 10, 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.