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AMD

Advanced Micro Devices, Inc.Close $521.54EOD only
Max Pain
$490.00
Next expiry Jun 5, 2026
Expected Move
±$31.35
6.0% from close
Price Gap
-31.54
Distance to max pain
IV Rank
79
High premium
P/C OI
1.12
Slightly put-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Jun 2, 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 2, 2026 close
AMD Theta Report
Analysis based on market close April 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 17, 2026. A newer theta report is available for May 26, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Conservative
Primary: Short-dated defined-risk premium sell: iron-condor or put-credit-spread (30–10 delta wings), collect front-week skew; cap risk with defined wings and buy protection
Invalidation: Spot moving below gamma flip ~$200, sudden IV collapse to sub-30% across term structure, or sustained >2% daily move against sold wing deltas
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 19.7% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
ATM IV ~56–58% on front–mid tenors; ultra-steep very short-dated dislocation with 0d/1d ATM IV ~110% vs VIX 17
Favorable?
Yes

Term structure: Front-week shows extreme skew and elevated 0–7d IV, 7–28d rich then flattens into mid-dated levels ~54–58%

⚠️GEX +$90M and concentrated put OI near $232–240 create pin pressure
✅Steep short-dated put/call IV gap favors short-dated defined-risk premium capture if wings bought as protection

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+90.3M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 28,406 (28.2% below spot)

OI concentrations: Put OI concentrated ~28% below spot with max-pain strikes clustered $232/$235/$240

Verdict: High pin risk at those strikes; dealer flow likely to defend/pin in near term

Premium Opportunities

#1
Iron condor
Sell 2026-05-08 $255.00/$215.00 put wing and $305.00/$340.00 call wing
Sell balanced wings into 21 DTE post-earnings to collect rich premiums with defined risk both sides.
Credit: $9.33-$11.40
Max loss: $28.60
BE: 243.60 / 316.40
Mgmt: Trim or buy wings if spot approaches $232–$240 pin zone or IV collapses; close on >2% daily adverse moves or break below $200.
#2
Put credit spread
Sell 2026-05-08 $255.00/$225.00 put spread
Sell $255/$225 spread to harvest skewed front-mid IV with defined downside cap.
Credit: $4.44-$5.43
Max loss: $24.57
BE: $249.57
Mgmt: Reduce size or hedge if spot falls toward $232–$240 or IV drops below 30%; exit on sustained >2% adverse daily moves.

Risk Alerts

!Pinning around $232–240 may trap sellers into directional moves
!Rapid IV compression or spot break below $200 invalidates short-premium setups
!Event or earnings-sized move can spike puts and overwhelm GEX cushioning
How to Use These Reports
This theta reflects the market close on April 17, 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.