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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 Theta Report
Analysis based on market close April 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Sell short-dated premium: 1–2 week put-credit spreads or short iron-condors around 250-260/230-245 wings
Invalidation: Close below 243 with rising IV and dealer GEX turning negative or sustained volume through 240-245 zone
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.0% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Stock ATM IV ~56-65% (term avg ~64.7) vs VIX 18.9 — equity IV rich to index
Favorable?
Yes

Term structure: Steep short-dated skew and elevated front-week IV (favorable for selling 1–2W premium); mid-dated ATM elevated; long-dated IV compressed (less attractive to sell longer tenors)

⚠️Put OI and max-pain clustered 240-250 => concentrated pin risk
📊Dealer GEX +64.4M supports pinning pressure near 245-250

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+64.4M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 17,830 (27.3% below spot)

OI concentrations: Put OI concentrated 240-250 (~17.8k contracts; ~27% below spot); max-pain clusters at 245-250

Verdict: High pin risk in 240-250 band; greatest gamma/pin sensitivity in front-week expiries and on heavy flow through 240-245

Premium Opportunities

#1
Put credit spread
Sell 2026-05-15 $250.00/$240.00 put spread
Sell 1–2 week put spread to harvest rich ATM IV while capping downside; favorable theta and margin profile
Credit: $2.14-$2.61
Max loss: $7.39
BE: $247.39
Mgmt: Close or flip if close <243, IV spikes +10pts, or dealer GEX turns negative
#2
Iron condor
Sell 2026-05-15 $250.00/$240.00 put wing and $310.00/$320.00 call wing
Collect front-month premium both wings; benefits if stock grinds inside 240–310 range
Credit: $3.58-$4.37
Max loss: $5.63
BE: 245.63 / 314.37
Mgmt: Trim or roll if sustained flow through 240–245 or IV jumps
#3
Covered call
Buy shares + sell 2026-06-18 $310.00 call
Long stock + sell longer-dated call to collect richer term premium and ride larger directional view
Credit: $11.25-$13.75
Max loss: Stock downside to $0 less call premium
BE: $261.20
Mgmt: Re-assess around earnings and if close <250 or large IV move

Risk Alerts

!Sustained IV spike >+10 pts vs snapshot
!Close <243 with heavy flow through 240-245
!Dealer GEX flips negative or rapid net premium unwind
How to Use These Reports
This theta reflects the market close on April 20, 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.