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AMD

Advanced Micro Devices, Inc.Close $278.39EOD only

Max Pain

$240.00

Next expiry Apr 24, 2026

Expected Move

±$15.60

5.6% from close

Price Gap

-38.39

Distance to max pain

IV Rank

100

High premium

P/C OI

1.14

Slightly put-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: Apr 17, 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

Apr 17, 2026 close

AMD Flow Report

Analysis based on market close April 10, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 10, 2026. A newer flow report is available for April 17, 2026.

View latest report

Flow Verdict

Confidence:

7 / 10

base 5.0; +2.0 GEX/flow strongly aligned; +1.0 positive GEX (pinning); -1.0 spot 11.4% above MP

Watch next session: Follow further flow into $250-$260 calls (OI and premium build); Watch for increased put buying around $230-$240 that would indicate defensive repositioning toward the $220 MP

Flow Summary

Net premium: +$245.2M bullish

P/C volume ratio: 0.64 — call-dominant today

P/C OI ratio: 1.10 — overall OI slightly put-heavy historically but intraday flow is call-biased

Large, concentrated call premium and heavy call flow pushed net premium strongly bullish today. Dealers remain long gamma (GEX +$228.3M) which supports pinning around near-term strikes (notably $245 and $240). Although multi-expiration max pain is ~ $220, current flow and positive GEX point to short-term upside pressure toward $250-$260 unless defensive put flow accelerates.

Notable Prints

AMD 2026-04-10 $245 PUT

Vol: 67,111

OI: 182

Vol/OI: 368.7x

IV: 6.1%

Notional: $1.61M

Intent: Expiration-day pin/gamma squeeze trade or rapid unwind of short-dated puts (market structure/hedge flow ahead of close)

Dual read: Aggressive buyer of protection (bearish) OR dealers/algos compressing positions for delta/gamma hedging (non-directional)

Read-through: High volume into tiny OI with very low IV suggests liquidity/closing adjustment into 0d expiry — not necessarily a fresh directional bet on a multi-day timeframe, but it creates intraday pin pressure at $245.

AMD 2026-04-10 $250 CALL

Vol: 123,949

OI: 6,017

Vol/OI: 20.6x

IV: 17.2%

Notional: $124k

Intent: Aggressive short-dated call activity — likely delta-buying from directional speculators or execution of call-heavy spreads expiring today

Dual read: Fresh directional call buys (bullish) OR rolling/closing of earlier positions into expiry (neutral-ish)

Read-through: Very large volume with meaningful OI suggests real demand at the $250 area; reinforces near-term upside interest and contributes to dealer hedging (positive GEX) that pins/propels price toward $250 intraday.

AMD 2026-04-10 $245 CALL (ITM)

Vol: 65,938

OI: 8,478

Vol/OI: 7.8x

IV: 5.1%

Notional: $1.71M

Intent: Short-term directional bullish flow (ITM call volume) and likely dealer delta management

Dual read: Buy-to-open calls (bullish) OR sellers/overwriters managing stock exposure (neutral/covered call behavior)

Read-through: Large ITM call activity combined with $250 call flow increases upside delta exposure for dealers — supports the bullish pin near $245-$250.

AMD 2026-04-10 $240 PUT

Vol: 25,915

OI: 866

Vol/OI: 29.9x

IV: 18.0%

Notional: $25.9k

Intent: Expiration-day activity — short-dated protective/closing flows or stops being triggered below $240

Dual read: Protective put buys (defensive) OR closing/rolls by institutions (non-directional)

Read-through: Relatively small notional vs call flow; notable volume but last price ($0.01) and 0d expiry point to expiry mechanics rather than sustained bearish conviction. Minor friction if price drifts lower toward $240.

AMD 2026-04-10 $255 CALL

Vol: 30,240

OI: 3,885

Vol/OI: 7.8x

IV: 31.3%

Notional: $30.2k

Intent: Speculative call buyers or part of call spread structures targeting upside wedge between $250-$260

Dual read: Directional bullish buys OR front-leg of a multi-leg (call spreads) — read in context with heavy $250 call activity

Read-through: Supplementary upside exposure; notional small compared with premium flow table but contributes to positive dealer delta and short-term upside bias.

Institutional Positioning

Call additions: $210, $220, $240, $245, $250, $260 (notable premium flow at $210, $220, $240, $250, $260 and OI clusters at $250/$240/$230)

Put additions: $200 cluster remains largest put OI (20,429 OI) and notable put OI at $190/$175; near-term protective puts appear limited and concentrated well below spot

GEX/DEX consistency: Yes — positive Total GEX +$228.3M and dealer DEX +84.4M shares align with bullish flow and pinning around near-term strikes (notably the concentrated +$127.2M at $245).

OI clusters: Call walls: $250 (18,027 OI), $220 (16,865 OI), $230 (11,130 OI), $240 (11,191 OI). Put floors: $200 (20,429 OI), $190 (15,717 OI), $175 (15,430 OI). These clusters create both a short-term pin at $245/$250 and structural downside support in the $175-$200 range.

Hedging evidence: Dealer hedging visible — large positive GEX and concentrated short-dated call flow implies dealers are buying stock/delta as calls are sold/bought; evidence of protective puts at deep strikes is limited relative to call premium (no significant collar signal).

Max pain context: Max pain ~ $220 across expirations (flat). Flow is bullish and dealer GEX is pinning price well above MP in the near-term; be aware multi-expiration MP remains a lower anchor if bullish flow cools.

Signal vs Noise

~Multiple 0d expiry prints (2026-04-10) such as $245 PUT, $240 PUT, $250 CALL — likely expiration gamma/roll/close activity, not durable directional conviction.

~$245 ITM call heavy volume (ITM and low IV) could be market maker rebalancing or covered-call adjustments rather than pure fresh directional longs.

~High volume into strikes with tiny last prices (e.g., $240P $0.01) indicates mechanical expiry trading; treat as noise for multi-day trend.

~Some high premium at distant strikes (e.g., $275/$290) are small OI and likely structured trades or long-dated hedges, not immediate directional pressure.

Key Conclusions

🐂Net premium is heavily bullish today (+$245.2M) and P/C volume ratio 0.64 confirms call dominance concentrated around $245-$260.

📌Dealers are long gamma (Total GEX +$228.3M) with a strong GEX concentration at $245 (+$127.2M) — expect pinning pressure near $245-$250 intraday.

🧭Structural risk remains below: large put OI at $200 (20,429) and a flat multi-expiration max pain at ~$220 — a reversal in flow could shift price toward those levels.

👀Watch whether call premium keeps building at $250-$260 — continued build would confirm upside continuation and force dealer delta buying.

⚠️High expiry-day volumes (0d) dominate unusual activity; treat several top prints as expiry mechanics rather than durable directional signals unless follow-through appears tomorrow.

How to Use These Reports

This flow reflects the market close on April 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.