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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 15, 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 May 15, 2026. A newer directional report is available for May 19, 2026.

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Outlook

Bullish bias supported by dealer gamma and flow, but near-term resistance and market weakness suggest range-bound bullish drift. Overhead at 274-280, support at 260-254.

Confidence:

7.5 / 10

Bullish flow, GEX alignment, pinning, VIX offset by spot distance to MP.

Supports: Bullish flow, positive GEX, normal vol, moderate VIX.
Conflicts: Spot above MP, overhead resistance 274-280, SPY/QQQ down >1%.

🟢Positive GEX $324.8M supports pinning near $265

🟢Bullish premium flow consistent with net call buying

🔴Spot 12.4% above MP; broad market negative

Regime Classification

Vol Regime

Normal

IV normal vs VIX 18.43; expected move in line with recent realized vol.

Gamma Regime

Pinning

GEX +$324.8M; gamma flip ~$265. Pinning near $265 strikes.

Flow Regime

Bullish

Bullish; net call premium dominates.

Spot vs Max Pain

Above

Spot ~12.4% above MP $235; typical of strong trend but extended.

Thesis duration: Multi-week — Positive gamma and flow suggest sustained bias; near-term resistance creates multi-week range expansion.

Price Range Forecast

Next 2 days

$259.90$268.39

Near-term resistance but gamma support.

Next 1 week

$257.39$270.89

Gamma pinning and flow support drift to upper $270.89.

Next 2 weeks

$253.72$274.57

Breakout beyond $274 could reach $280.

Key Levels

Max pain pins: $235 (2026-05-15); $265 (2026-05-18); $265 (2026-05-20)

EM guardrails: 2d $259.90/$268.39; 1w $257.39/$270.89

Support: $253.72

Resistance: $274.57 · $275.00 · $280.00

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,783 (24.3% below spot)

Structural: Support: $259.90 (2d), $253.72 (2w). Resistance: $274.57 (2w), $275, $280. Gamma flip ~$265.

Dealer Positioning (GEX/DEX)

GEX: $+324.8M

DEX: +155.6M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 31,783 (24.3% below spot))

NTM gamma: Net long gamma $+324.8M; long delta +155.6M shares. Gamma flip at ~$265. Max pain $265 near May18/20 expiry.

IV Analysis

IV vs VIX: IV normal vs VIX 18.43; no dislocation.

Term structure: Flat to slightly backwardated; no event kinks near term.

Skew: Put skew elevated; call spreads benefit from bullish gamma.

Flow Analysis

Net premium: Net call premium of $186.5M; put/call volume ratio 0.50 indicates strong bullish flow.

Directional prints: 20.8 call 262.5 ITM 2026-05-18 — Volume 6763 vs OI 212; vol/OI 31.9x. Likely bought (bullish), could be sold. Preferred read: bought. 13.7 call 262.5 ITM 2026-05-15 — Volume 37671 vs OI 3307; vol/OI 11.4x. Likely bought, could be sold. Preferred read: bought. 19.9 call 265 OTM 2026-05-18 — Volume 8272 vs OI 999; vol/OI 8.3x. Likely bought, could be sold. Preferred read: bought.

Unusual: 19.8 call 267.5 OTM 2026-05-18 — Volume 6939 vs OI 925; vol/OI 7.5x. Unusual call flow. Likely bought, could be sold. Preferred read: bought. 20.2 put 260 OTM 2026-05-18 — Volume 7188 vs OI 1205; vol/OI 6.0x. Unusual put flow in bullish context. Likely sold (bearish), could be bought. Preferred read: sold (hedging). 29.2 call 262.5 ITM 2026-05-22 — Volume 2070 vs OI 421; vol/OI 4.9x. Unusual call. Likely bought, could be sold. Preferred read: bought.

Risks & Catalysts

!1. Broad market selloff (SPY/QQQ down >1%).

!2. Spot overextended 12.4% above MP.

!3. Resistance at $274-280 may cap upside.

!4. Gamma flip at $265 if triggered.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-26 $260.00/$280.00 call spread Why now: Flow bullish, dealer gamma supportive; capped overhead makes spread efficient.	Broad market selloff or failure to break above support at $260.
Put credit spread	Moderate	Sell 2026-06-05 $250.00/$240.00 put spread Why now: Bullish flow and gamma support higher lows; premium decay defined risk.	Sharp drop below $250 from market selloff.
Long call	Moderate-Strong	Buy 2026-07-17 $280.00 call Why now: Strong call flow and gamma; multi-week upside potential.	Time decay if stock stalls; resistance cap at $280.
Call diagonal	Moderate	Sell 2026-05-29 $277.50 call / buy 2026-07-17 $275.00 call Why now: Near-term premium rich; back-month call benefits from drift.	Volatility crush if stock gaps down; early assignment risk.

Top Plays

Bull Call Spread

Buy 2026-06-26 $260.00/$280.00 call spread

Buy $260 call, sell $280 call to target resistance.

Why this play: Optimal for bullish bias with overhead cap; defined risk.

Debit: $7.65-$9.35

Max loss: $9.35

BE: $269.35

Mgmt: Exit at 50% max gain or if spot < 253.72.

Traders seeking defined risk.

Put Credit Spread

Sell 2026-06-05 $250.00/$240.00 put spread

Sell $250 put, buy $240 put for defined risk.

Why this play: Collects premium at support; benefits from bullish gamma.

Credit: $1.12-$1.36

Max loss: $8.64

BE: $248.64

Mgmt: Close at 50% profit or spot < 253.72.

Income-focused traders.

Call Diagonal

Sell 2026-05-29 $277.50 call / buy 2026-07-17 $275.00 call

Sell front-month $277.50 call, buy back-month $275 call.

Why this play: Exploits near-term premium and drift; fits range-bound bias.

Debit: $6.78-$8.28

Max loss: $8.28

BE: Path-dependent

Mgmt: Roll short call if tested; exit if spot < 253.72.

Advanced traders expecting gradual rise.

Watchlist Triggers

Entry Triggers

IFAMZN holds above $253.72 and breaks above $260 → Enter Bull Call Spread: buy 2026-06-26 $260 call, sell $280 call at $7.65-$9.35

IFAMZN pulls back to $253.72 with a bullish engulfing candlestick pattern → Enter Put Credit Spread: sell 2026-06-05 $250 put, buy $240 put at $1.12-$1.36

Adjustment Triggers

ADJAMZN nears $274-$280 resistance with RSI below 50 → Take partial profits on Bull Call Spread or close Call Diagonal

Exit Triggers

EXITAMZN closes below $253.72 → Exit all positions

Tactical Summary

Bullish bias, range-bound drift toward $274-$280 resistance. Support at $253.72. Enter Bull Call Spread on bounce from support; Put Credit Spread on pullback with bullish engulfing. Exit if invalidation below $253.72. Adjust near resistance if RSI below 50.

How to Use These Reports

This directional reflects the market close on May 15, 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.