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AMD

Advanced Micro Devices, Inc.Close $447.58EOD only
Max Pain
$415.00
Next expiry May 22, 2026
Expected Move
±$24.20
5.4% from close
Price Gap
-32.58
Distance to max pain
IV Rank
56
Middle-high premium
P/C OI
1.08
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: May 20, 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 20, 2026 close
AMD Theta Report
Analysis based on market close May 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short Put Spreads
Invalidation: Spot breaks below $415
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 7.9% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV (84.5%) extremely high vs VIX (17.4), indicating rich premiums
Favorable?
Yes

Term structure: Near-term puts elevated (150% IV), fear priced; longer-term flatter

📊Put skew severe in 0-2 DTE, but bullish flow suggests pinning

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+66.9M)

OI concentrations: Max pain $415; next pin $400; strong put OI below $415

Verdict: Pinning likely at $415 with bullish dealer flow, but risk of drop below if broken

Premium Opportunities

#1
Put credit spread
Sell 2026-06-18 $430.00/$420.00 put spread
Captures rich IV from bullish dealer flow and pinning at $415.
Credit: $3.91-$4.78
Max loss: $5.22
BE: $425.22
Mgmt: Exit if spot breaks below $415 invalidation. Consider rolling if IV contracts.

Risk Alerts

!Extreme put skew in ultra short-term (2 DTE) could cause rapid IV crush if spot holds
!No gamma flip support; spot 7.9% above MP increases gap risk
How to Use These Reports
This theta reflects the market close on May 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.