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AMD

Advanced Micro Devices, Inc.Close $503.89EOD only

Max Pain

$405.00

Next expiry May 29, 2026

Expected Move

±$32.08

6.4% from close

Price Gap

-98.89

Distance to max pain

IV Rank

High premium

P/C OI

1.07

Balanced positioning

Consensus

6.5/10

Bullish tilt

Published snapshot: May 26, 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 26, 2026 close

AMD Flow Report

Analysis based on market close April 13, 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 13, 2026. A newer flow report is available for May 22, 2026.

View latest report

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned (positive GEX concentrated at $250); +1 GEX positive (pinning); -1 spot 12.2% from MP; +0.5 VIX 19.1

Watch next session: $250 call flow and OI builds (look for continued premium accumulation); Put flow / large seller activity at $240-$245 (would signal downside hedging or protective buying)

Flow Summary

Net premium: +$106.2M bullish

P/C volume ratio: 0.93 — slightly call-biased on volume (near neutral)

P/C OI ratio: 1.08 — more put OI overall (structural put concentration vs short-term call buying)

Large fresh call premium (dominated at $250) is driving a bullish near-term flow signal while institutional / structural put OI remains concentrated below spot (notably $200). Dealers are net long gamma (GEX +$77.9M) and positioned to pin within the expected move window; this produces a mixed read: short-term call buying pushing premium higher, but larger put OI and flat max-pain at $220 keep a downside magnet in the background.

Notable Prints

AMD 2026-04-17 $255 Call

Vol: 14,465

OI: 2,306

Vol/OI: 6.3x

IV: 47.8%

Notional: ~$3.52M

Intent: Directional call buying (short-dated bullish speculative or tactical upside exposure into the week)

Dual read: Bought calls (bullish) or dealer sold/overwritten (could be part of call-writing), but volume >> OI suggests fresh buys

Read-through: Reinforces the large net premium at $250 and short-term upside skew toward $250-$260; dealers accumulate positive gamma near those strikes.

AMD 2026-04-17 $245 Put

Vol: 9,013

OI: 2,331

Vol/OI: 3.9x

IV: 48.5%

Notional: ~$4.15M

Intent: Protective put buying or short-dated hedging (clients buying downside insurance just below spot)

Dual read: Protective/hedge (bearish intent) or dealers opening short put positions vs call sells (neutral/vol trade)

Read-through: Large put flow at $245 signals some market participants are buying downside insurance around current price — a logical hedge against fast mean reversion toward the $220 pain zone.

AMD 2026-04-17 $242.50 Put

Vol: 6,417

OI: 1,068

Vol/OI: 6.0x

IV: 49.0%

Notional: ~$2.31M

Intent: Short-term protective buying (close-to-spot puts) or tactical bearish positioning

Dual read: Bought puts (downside protection) or selling pressure packaged with other legs (part of larger structure)

Read-through: Pairs with $245P flow — reveals concentrated short-dated downside hedging just inside expected move; increases dealer hedge delta in this band.

AMD 2026-04-24 $245 Put

Vol: 1,714

OI: 330

Vol/OI: 5.2x

IV: 49.4%

Notional: ~$1.34M

Intent: Shorter-dated continuation of protective buying or roll from 4/17 puts

Dual read: Dedicated put buys (hedge) or positioning roll into next expiry

Read-through: Shows follow-through demand for downside protection into the next weekly expiry — not just a one-day blip.

Institutional Positioning

Call additions: $250 (largest premium aggregation), plus meaningful flow at $260 and $270 — concentrated short-dated call accumulation around $250-$260

Put additions: $200 cluster remains the largest put OI (21,125 OI) and short-dated $240-$245 puts saw fresh volume (4/17 and 4/24), indicating protective hedging near spot

GEX/DEX consistency: Yes — positive Total GEX $77.9M and DEX +77.4M shares align with call-dominant net premium; dealer positioning is net long gamma and positioned to pin into near-term levels (250/245/240)

OI clusters: Largest OI clusters: $250 call (20,023), $210 call (23,889 aggregated across expiries), $200 put (21,125). These create a resistance band near $250 and a structural put floor below $200 that can act as a long-term magnet.

Hedging evidence: Clear short-dated protective put activity at $242.50-$245 and large standing put OI at $200 — evidence of both tactical downside hedging and longer-term downside protection; limited explicit collar structures shown in provided flow.

Max pain context: Max pain is flat at $220 across near expirations. Spot ($246.83) sits ~12% above MP; dealer positive GEX and concentrated call flow near $250 create a competing near-term pin attempt between $245-$250 while $220 remains a structural magnet over a longer horizon.

Signal vs Noise

~Large multi-expiry $200 put OI is structural/long-dated positioning rather than immediate directional trade — not a single-session bearish signal.

~Some short-dated put prints (4/17 and 4/24) look like protective hedges against near-term downside rather than outright directional short bets.

~High OI strikes at $210 and $200 reflect legacy positions and gamma management; treat activity around those strikes as dealer inventory adjustments rather than fresh directional conviction.

~The long-dated $450 calls (8/21) are small notional and likely speculative/volatility-driven, not core positioning.

Key Conclusions

🐂Large net premium (+$106.2M) and concentrated call premium at $250 indicate short-term bullish pressure into the next expiries.

⚖️Flow is mixed: short-dated call buying vs substantial structural put OI (notably $200) — dealers net long gamma (GEX +$77.9M) creating pinning dynamics near 240–250.

🛡️Significant protective put flow at $242.50–$245 (4/17 and 4/24) shows participants buying downside insurance around spot — watch for more put demand as a sign of risk-off.

📌Key technical/pin band to watch: support cluster at $240 and $245 (dealer pin/gamma buying) vs resistance around $250 and then $260 (call OI and positive GEX concentrations).

🔎If $250 call flow continues and spot holds above $245, dealers’ positive gamma will compress intraday moves and make a push toward the $250 pin more likely.

How to Use These Reports

This flow reflects the market close on April 13, 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.