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AMZN

Amazon.com, Inc.Close $265.29EOD only

Max Pain

$265.00

Next expiry May 27, 2026

Expected Move

±$2.96

1.1% from close

Price Gap

-0.29

Distance to max pain

IV Rank

Low premium

P/C OI

0.58

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 26, 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 26, 2026 close

AMZN Directional Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 6, 2026. A newer directional report is available for May 26, 2026.

View latest report

Outlook

Neutral with downside gravity toward $210-$208. Confidence: 4.5/10. Spot above max pain by 3.8% creates a pull, but positive GEX +$217.9M pins near-term and net premium -$11.9M shows mixed flow. The strongest signals are GEX pinning at $210/$212.5 and max pain ladder rising from $205 to $245.

Confidence:

4.5 / 10

base 5; -1 GEX/flow contradict (GEX positive vs net premium negative); +1 GEX positive (pinning); -0.5 spot 3.8% from MP

Supports: GEX +$217.9M (pinning), max pain $205-$208, EM guardrail $208.36
Conflicts: Net premium -$11.9M (bearish flow), spot 3.8% above MP

📊GEX pinning at $210/$212.5

📉Net premium -$11.9M

Regime Classification

Vol Regime

Normal

IV 38.9% vs VIX not provided — normal vol regime

Gamma Regime

Pinning

GEX +$217.9M concentrated near spot — pinning regime

Flow Regime

Mixed

Net prem -$11.9M with P/C vol 0.85 — mixed flow regime

Spot vs Max Pain

Above

Spot $212.79 vs MP $205-$208 — above regime

Thesis duration: Multi-week — Max pain ladder trends up from $205 to $245 across expirations, GEX sign stable positive, flow regime consistent across expirations

Price Range Forecast

Next 2 days

$208.36$217.22

GEX pinning at $210/$212.5; >$217.22 breaks upside

Next 1 week

$205.34$220.24

Max pain $205-$208 pulls; >$220.24 invalidates

Next 2 weeks

$200.86$224.71

Max pain ladder rising; <$200.86 breaks

Key Levels

Max pain pins: $205 (2026-04-06); $208 (2026-04-08); $208 (2026-04-10)

EM guardrails: 2d $208.36/$217.22; 1w $205.34/$220.24

Support: $210.00 · $208.36 · $205.00

Resistance: $215.00 · $217.22 · $220.00

Structural: Call OI wall $225-$300 caps upside; put floor $200-$205

Dealer Positioning (GEX/DEX)

GEX: $+217.9M

DEX: +112.5M shares

Gamma flip: N/A

NTM gamma: Positive GEX concentrated at $210/$212.5/$215; dealer hedging buys dips below $210, sells rallies above $215

IV Analysis

IV vs VIX: IV 38.9% — no VIX provided

Term structure: Humped — 4/8 35.7% > 4/13 32.4% > 5/1 44.2% (earnings kink)

Skew: 4/8 vs 4/13 ~3 vol-pt differential

Flow Analysis

Net premium: -$11.9M bearish; P/C vol 0.85

Directional prints: call 212.5 ITM 2026-04-08 — vol 9,755 vs OI 1,296 (7.5x) — likely call selling for income put 210 OTM 2026-04-08 — vol 7,709 vs OI 528 (14.6x) — likely put buying for protection

Unusual: 64.9 call 197.5 ITM 2026-04-10 — vol 1,083 vs OI 166 (6.5x) — high IV 64.9% suggests speculative buying

Risks & Catalysts

!Gamma pin breaks below $210

!Earnings 4/30 vol crush risk

!Net premium -$11.9M indicates institutional selling

!VIX not provided — unknown broad market context

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Iron condor	Moderate-Strong	$210/$205P x $215/$220C 4/13	GEX pin breaks
CSP / put spread	Moderate-Strong	Sell $210/$205 put spread 4/13	Spot below $205
Covered call	Moderate	Own stock, sell $215 call 4/13	Upside capped
Cash-secured put	Moderate	Sell $210 put 4/13	Assignment below $210
Long calls	Moderate-Weak	Buy $215 call 4/13	IV 34.0% expensive
Long puts / bear put spreads	Moderate	Buy $210/$205 put spread 4/13	GEX pin holds
Calendar/diagonal	Moderate-Strong	Sell 4/8 $212.5 call (IV 35.9%), buy 4/13 $215 call (IV 30.9%)	Spot moves past $215
PMCC / LEAPS diagonal	Moderate	Buy 2027-03-19 $245 call, sell 4/13 $215 call	Time decay on long leg
Short stock	Weak	Avoid — GEX positive	Pinning risk

Top Plays

Iron Condor

$210/$205P x $215/$220C 4/13

Sells premium within GEX pin and EM bounds

Credit: $0.85-$1.05

Max loss: $4.15

BE: $205.85

Mgmt: Close at 50% max profit; adjust if spot breaches $210 or $215

Neutral traders seeking defined risk

Put Spread

Sell $210/$205 put spread 4/13

Defined-risk bullish bet on GEX pin at $210

Credit: $0.45-$0.55

Max loss: $4.55

BE: $209.55

Mgmt: Take profit at 70% max profit; stop if spot closes below $208

Bullish traders with limited risk tolerance

Calendar Spread

Sell 4/8 $212.5 call, buy 4/13 $215 call

Sells 35.9% IV, buys 30.9% IV for +5 vol-pt edge

Debit: $1.65-$1.85

Max loss: $1.85

BE: $214.15

Mgmt: Close before 4/8 expiry; roll if spot >$215

Vol traders expecting pin and time decay

Watchlist Triggers

Entry Triggers

IFSpot tags $210, holds 30 min → Sell $210/$205 put spread 4/13

IFIV term structure flattens (4/8 IV < 33%) → Enter iron condor $210/$205P x $215/$220C 4/13

Exit Triggers

EXITSpot closes below $205 → Exit all short premium positions

EXITVIX spikes >40 (if data available) → Take profit on iron condor

Tactical Summary

Neutral with downside gravity to $210-$208. Invalidation: <$205. Regime favors short premium around the pin. Top plays: iron condor for neutral, put spread for bullish, calendar for vol edge. Iron condor best for defined risk, put spread for bullish bets, calendar for experienced vol traders.

How to Use These Reports

This directional reflects the market close on April 6, 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.