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AMD

Advanced Micro Devices, Inc.Close $469.45EOD only
Max Pain
$440.00
Next expiry Aug 21, 2026
Expected Move
±$11.57
2.5% from close
Price Gap
-29.45
Distance to max pain
IV Rank
24
Low premium
P/C OI
1.19
Slightly put-heavy
Consensus
7.5/10
Bullish tilt
Published snapshot: Aug 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
Aug 20, 2026 close
AMD Theta Report
Analysis based on market close May 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 22, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Premium selling
Invalidation: Spot breaks below support at $418.54
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.7% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
Extremely high relative to VIX
Favorable?
Yes

Term structure: Front-month ATM IV depressed but skew extreme; term structure steep with near-term IV elevated

⚠️Front-month put IV 203% reflects extreme downside fear
📈Positive GEX $137.5M and bullish flow support premium selling

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+137.5M)

OI concentrations: Max pain $422 for May 22; call wall $600, put floor $255

Verdict: High

Premium Opportunities

#1
Iron condor
Sell 2026-06-18 $420.00/$410.00 put wing and $520.00/$530.00 call wing
Captures time decay and volatility contraction within wide wings.
Credit: $4.48-$5.47
Max loss: $4.53
BE: 414.53 / 525.47
Mgmt: Close at 50% max gain or if wings tested.
#2
Put credit spread
Sell 2026-06-18 $420.00/$410.00 put spread
Sells premium above support to profit from IV crush.
Credit: $2.45-$3.00
Max loss: $7.00
BE: $417.00
Mgmt: Exit if spot closes below invalidation $422.5
#3
Call credit spread
Sell 2026-06-18 $520.00/$530.00 call spread
Sells call premium to cap upside risk.
Credit: $2.03-$2.48
Max loss: $7.52
BE: $522.48
Mgmt: Close at 50% gain or if call wing tested.

Risk Alerts

!0 DTE contract close to expiry
!High put skew indicates tail risk
!No earnings event, but high IV suggests special situation
How to Use These Reports
This theta 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.