thetaOwl
HomeOptionsAMDReports

AMD

Advanced Micro Devices, Inc.Close $503.57EOD only
Max Pain
$500.00
Next expiry Jul 22, 2026
Expected Move
±$27.93
5.5% from close
Price Gap
-3.57
Distance to max pain
IV Rank
25
Middle-high premium
P/C OI
1.22
Slightly put-heavy
Consensus
7.5/10
Bullish tilt
Published snapshot: Jul 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
Jul 20, 2026 close
AMD Theta Report
Analysis based on market close June 5, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 5, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness3 / 10
Sizing: Conservative
Primary: Neutral/Wait
Invalidation: Spot breaks below 410 or VIX above 25
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 6.7% from MP; +0.5 VIX 22

IV Environment

IV Regime
High
IV vs VIX
AMD IV ~93% vs VIX 21.5, elevated stock-specific risk
Favorable?
No

Term structure: Steep near-term skew, OTM puts 175% IV; front-month ATM 17.9% indicates panic pricing

⚠️High IV but short gamma and negative spot momentum make selling risky

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-29.1M)

OI concentrations: Call wall $600, put floor $300; no meaningful OI near spot

Verdict: Low pin risk near spot; stock below $500 max pain; potential upward drift

Premium Opportunities

#1
Call diagonal
Sell 2026-06-26 $520.00 call / buy 2026-08-21 $610.00 call
Sell Jun call / buy Aug call to capture time decay & vol premium.
Debit: $10.19-$12.46
Max loss: $12.46
BE: Path-dependent
Mgmt: Trail invalidation $413.46; exit if spot breaks below or IV spikes.
#2
Put diagonal
Sell 2026-06-26 $435.00 put / buy 2026-08-21 $420.00 put
Sell Jun put / buy Aug put to profit from time decay & vol contraction on downside.
Debit: $18.76-$22.93
Max loss: $22.93
BE: Path-dependent
Mgmt: Manage near invalidation; roll if spot rallies above short strike.

Risk Alerts

!Dealer short gamma -$29.1M (unstable)
!Net premium -$120M (more calls sold)
!Spot 6.7% below max pain, trending
How to Use These Reports
This theta reflects the market close on June 5, 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.