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AMD

Advanced Micro Devices, Inc.Close $449.59EOD only

Max Pain

$420.00

Next expiry May 22, 2026

Expected Move

±$12.50

2.8% from close

Price Gap

-29.59

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.08

Balanced positioning

Consensus

7.0/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

AMD Flow Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.7% from MP; +1 VIX 17

Watch next session: Monitor $470 and $465 put strikes for hedging unwinds

Flow Summary

Net premium: +$646.9M bullish

P/C volume ratio: 0.51

P/C OI ratio: 1.09

Strong bullish flow with $647M net premium and low put/call volume ratio 0.51. Positive GEX $137.5M pins spot above MP. Unusual put prints at $470 and $465 interpreted as hedging, not directional bearish. Call accumulation at $472.5 and $480. High confidence in bullish bias.

Notable Prints

AMD 2026-05-22 $470.00 Put

Vol: 23,508

OI: 185

Vol/OI: 127.1x

IV: 15.2%

Notional: ~$4.5M

Intent: Bearish speculation or hedge

Read-through: Short-term downside bet

AMD 2026-05-22 $465.00 Put

Vol: 15,338

OI: 127

Vol/OI: 120.8x

IV: 8.6%

Notional: ~$153K

Intent: Bearish speculation

Read-through: Reinforces bearish outlook

AMD 2026-05-29 $477.50 Call

Vol: 4,607

OI: 125

Vol/OI: 36.9x

IV: 61.1%

Notional: ~$5.8M

Intent: Bullish directional bet

Read-through: Bullish into next week

AMD 2026-05-22 $460.00 Put

Vol: 14,036

OI: 437

Vol/OI: 32.1x

IV: 13.3%

Notional: ~$14K

Intent: Bearish hedge

Read-through: Short-term downside protection

AMD 2026-05-22 $457.50 Put

Vol: 2,791

OI: 117

Vol/OI: 23.9x

IV: 18.6%

Notional: ~$8K

Intent: Bearish speculation

Read-through: Negative outlook

Institutional Positioning

Call additions: Concentrated at 472.5C (29.4k vol) and 480C (66.4k vol) for 5/22, plus 477.5C for 5/29.

Put additions: Heavy put buying at 470P (23.5k vol), 465P (15.3k), 460P (14k), 457.5P (2.8k) for 5/22.

GEX/DEX consistency: Yes: GEX +$137.5M and DEX +101.8M shares align with bullish call flow and above-MP spot.

OI clusters: Largest OI: 480C (5,110), 472.5C (1,773), 470P (185, but small OI vs vol).

Hedging evidence: Puts at 470/465/460/457.5 may hedge long positions or spec downside.

Max pain context: Spot above MP; MP likely near 470-475, pinning expected toward expiry.

Signal vs Noise

~High vol/OI put ratios (127x at 470P, 120x at 465P) indicate aggressive puts; likely hedging or directional bets.

~Large call volume at 472.5C and 480C with vol/OI 16.6x and 13x show strong bullish flow.

~May 29 477.5C (36.9x) and 492.5C (18.5x) add bullish skew.

~Low OI jumps in puts vs high vol suggests new shorts, not unwinding.

Key Conclusions

📈Bullish call flow dominates ($646.9M net), but heavy put buying (470P vol/OI 127x) signals either downside hedging or bearish bets; high OI alignment suggests hedging.

How to Use These Reports

This flow reflects the market close on May 22, 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.