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AMD

Advanced Micro Devices, Inc.Close $303.46EOD only

Max Pain

$260.00

Next expiry Apr 24, 2026

Expected Move

±$12.90

4.3% from close

Price Gap

-43.46

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.06

Balanced positioning

Consensus

7.0/10

Consensus signal

Published snapshot: Apr 22, 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 22, 2026 close

AMD Flow Report

Analysis based on market close April 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 12.0% from MP; +0.5 VIX 19

Watch next session: Monitor 304–312.5 strikes activity and OI changes; Track gamma-flip ~300 and put OI decay; Watch VIX and SPY/QQQ direction

Flow Summary

Net premium: +$303.3M bullish

P/C volume ratio: 0.77

P/C OI ratio: 1.09

Dealer flow is net bullish with pinning gamma: call-heavy prints and +GEX imply dealers buying deltas, supporting spot, but distance from MP and heavy short-dated puts create drawdown risk if volatility spikes.

Notable Prints

AMD 2026-05-01 $305.00 Put

Vol: 5,294

OI: 104

Vol/OI: 50.9x

IV: 57.2%

Notional: ~$5.7M

Intent: Large outlier put buy (speculative/hedge)

Dual read: Unusual IV suggests block trade or multi-leg

Read-through: Persistent put demand into May

AMD 2026-04-24 $307.50 Put

Vol: 5,336

OI: 254

Vol/OI: 21.0x

IV: 50.7%

Notional: ~$3.0M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

AMD 2026-04-24 $302.50 Put

Vol: 15,873

OI: 780

Vol/OI: 20.4x

IV: 51.0%

Notional: ~$5.1M

Intent: Put buying (downside protection/speculation)

Dual read: Could be part of put spread or hedge

Read-through: Concentrated downside interest near support

AMD 2026-04-24 $305.00 Put

Vol: 15,953

OI: 818

Vol/OI: 19.5x

IV: 50.6%

Notional: ~$6.8M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

AMD 2026-05-01 $310.00 Put

Vol: 2,230

OI: 220

Vol/OI: 10.1x

IV: 57.7%

Notional: ~$3.0M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Concentrated short-dated call buys Apr24 at 305, 312.5, 322.5 and a smaller Jul450 position — heavy short-dated call activity that can create pinning pressure near clustered strikes.

Put additions: Material short-dated puts around 302.5–310 (Apr24/May01) and larger May1 puts at 305/310, suggesting significant protective hedging.

GEX/DEX consistency: Positive GEX (+$88.1M) and DEX (+92.8M shares) align with net short-dated call flow, but hedging prints complicate a clean bullish read.

OI clusters: Largest OI: Apr24 305C (~5.2k), 312.5C (~1.8k); Apr24 puts concentrated 305–310 (600–800 each); put bulk sits just below spot.

Hedging evidence: Elevated short-dated put flow and IV (~50–58%) consistent with protective collars/hedges that could limit upside pinning or amplify downside moves if exercised.

Max pain context: Gamma flip and max-pain cluster sit near the 300 strike, which is below current spot; spot is roughly ~12% above estimated MP, so pinning pressure would require net short-dated call dominance to overcome hedges.

Signal vs Noise

~Signal: concentrated Apr24 strikes (305–312.5) plus positive GEX/DEX — short-dated call pressure is meaningful but not definitive.

~Signal: sizable put prints 302.5–310 indicate active protective hedging that could blunt or reverse short-dated call-driven pinning.

~Noise: isolated longer-dated strikes (Jul450) are directional but limited near-term impact.

Key Conclusions

📌Short-dated flow leans bullish with concentrated calls near 305–312.5, but this is qualified—substantial protective puts and high IV may counteract pinning.

⚠️Hedging risk is material: elevated put OI/IV could limit upside or exacerbate downside if spot moves toward clustered strikes—monitor net flow.

How to Use These Reports

This flow reflects the market close on April 23, 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.