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AMZN

Amazon.com, Inc.Close $259.34EOD only

Max Pain

$265.00

Next expiry May 20, 2026

Expected Move

±$3.68

1.4% from close

Price Gap

+5.66

Distance to max pain

IV Rank

Low premium

P/C OI

0.59

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects AMZN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

AMZN Directional Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Outlook

Bullish directional thesis driven by strong GEX/flow alignment, positive dealer gamma, and normal vol. Anticipate upward drift toward max pain levels ($260-$265) over next 2 days to 1 week, supported by pinning dynamics. Broad market weakness is a key conflict, but VIX 18 and bullish flow provide confidence.

Confidence:

8.5 / 10

Base 5: +2 GEX/flow aligned (net bullish), +1 GEX positive (pinning), +0.5 VIX 18 (elevated premium). Total 8.5.

Supports: Positive GEX $204.2M; bullish flow; normal vol; VIX 18; support at $246.29.
Conflicts: Spot below resistance $265; broad market weakness (-0.67% SPY); gamma flip at $200 far below.

📈Bullish flow with positive GEX - upward bias.

🛡️Gamma pinning near $260-$265 (max pain).

⚠️Market weakness may cap gains near resistance.

📅Max pain $265 for May 20 expiry; potential pin.

Regime Classification

Vol Regime

Normal

Normal; VIX 18, typical for AMZN.

Gamma Regime

Pinning

Pinning; GEX +$204.2M, positive gamma with flip at ~$200.

Flow Regime

Bullish

Bullish; net premium positive and P/C ratio favors calls.

Spot vs Max Pain

Below

Below; spot under max pain ($265), supports upward drift.

Thesis duration: Event-specific — Max pain pins for specific expiries (May 20, 22, 26) create event-driven window for 2 days to 1 week.

Price Range Forecast

Next 2 days

$255.66$263.02

Rise toward resistance $263.02, supported by gamma pinning.

Next 1 week

$251.56$267.11

Target $267.11, with max pain $265 as intermediate pin.

Next 2 weeks

$246.29$272.39

Could test $272.39 but resistance at $265 and $275 may cap.

Key Levels

Max pain pins: $265 (2026-05-20); $260 (2026-05-22); $265 (2026-05-26)

EM guardrails: 2d $255.66/$263.02; 1w $251.56/$267.11

Support: $246.29

Resistance: $265.00 · $272.39 · $275.00

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,926 (22.9% below spot)

Structural: Support: $246.29 (2w low). Resistance: $265 (max pain May 20), $272.39 (2w high), $275. Key gamma flip at $200. EM guardrails: 2d $255.66-$263.02, 1w $251.56-$267.11.

Dealer Positioning (GEX/DEX)

GEX: $+204.2M

DEX: +128.6M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 31,926 (22.9% below spot))

NTM gamma: Dealers long gamma ($+204.2M) with flip near $200 (put OI heavy). Positive GEX supports near-term upside.

IV Analysis

IV vs VIX: Normal; AMZN IV likely in line with VIX 18, not rich or cheap.

Term structure: Presumed flat near term; no event kinks except max pain pin expiries.

Skew: Put skew elevated due to put OI concentration; call skew relatively flat. No clear vol arbitrage.

Flow Analysis

Net premium: Net premium $175.6M call-heavy; P/C vol ratio 0.41, bullish.

Directional prints: 24.4 call 260 OTM 2026-05-20 — Vol 43708 vs OI 972 (45x), likely bought. Bullish directional bet. 32 call 257.5 ITM 2026-05-22 — Vol 4108 vs OI 102 (40x), likely bought. Bullish directional.

Unusual: 24.4 call 260 OTM 2026-05-20 — Vol/OI 45x, extreme. Likely opening bought. Bullish. 32 call 257.5 ITM 2026-05-22 — Vol/OI 40x, high. Likely opening bought. Bullish. 25.2 call 257.5 ITM 2026-05-20 — Vol/OI 24x, elevated. Likely bought. Bullish.

Risks & Catalysts

!Downside risk from broad market selloff (SPY -0.67%).

!Gamma flip at $200 could accelerate selloff if spot breaks below.

!Resistance at $265 may cap upside, especially if volume low.

!Max pain pin may cause price to gravitate away from current levels.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-12 $260.00/$275.00 call spread Why now: Defined-risk debit spread captures upside with limited capital at risk.	Max loss is debit paid; upside capped at short strike. Time decay works against if no move.
Put credit spread	Moderate	Sell 2026-06-12 $245.00/$235.00 put spread Why now: Premium sale with tail hedge; aligns with bullish drift and low vol environment.	Max loss if spot drops below long put strike; short puts collect time decay.
Long call	Moderate-Strong	Buy 2026-06-12 $270.00 call Why now: High volume call flow and positive GEX support a direct long call for upside leverage.	Full loss if spot settles below strike at expiration; time decay accelerates near expiry.

Top Plays

Bull Call Spread $260/$275

Buy 2026-06-12 $260.00/$275.00 call spread

Captures upside drift from $260 to $275 with limited risk.

Why this play: Best defined-risk play for upside to $265, aligns with max pain and flow.

Debit: $4.69-$5.73

Max loss: $5.73

BE: $265.73

Mgmt: Monitor spot; exit near $265 or if invalidated below $246.

Moderate bullish view, risk-averse.

Long Call $270

Buy 2026-06-12 $270.00 call

Direct long call for maximum upside exposure if rally continues.

Why this play: High-return play on strong call flow and GEX support, but elevated theta/vega risk.

Debit: $3.38-$4.12

Max loss: $4.12

BE: $274.12

Mgmt: Set stop at invalidation $246; consider rolling if spot stalls.

Aggressive bullish, short-term momentum.

Put Credit Spread $245/$235

Sell 2026-06-12 $245.00/$235.00 put spread

Selling put spread to collect premium in bullish drift environment.

Why this play: Premium collection with tail protection, but limited upside and lower probability.

Credit: $1.24-$1.52

Max loss: $8.48

BE: $243.48

Mgmt: Close at 50% profit or at expiration; adjust if spot nears short strike.

Income-focused, expects spot to stay above $245.

Watchlist Triggers

Entry Triggers

IFIF AMZN holds above $246.29 (support) → THEN buy Bull Call Spread $260/$275 (June12) at $4.69-$5.73

IFIF AMZN stays above $245 and bullish drift continues → THEN sell Put Credit Spread $245/$235 (June12) at $1.24-$1.52

IFIF AMZN breaks above $260 with momentum → THEN buy Long Call $270 (June12) at $3.38-$4.12

Exit Triggers

EXITIF AMZN breaks below $246.29 → THEN exit all bullish positions

Tactical Summary

Bullish drift toward $260-$265 expected. Enter defined-risk plays on support holds. Manage downside risk below $246.29.

How to Use These Reports

This directional reflects the market close on May 19, 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.