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AMZN

Amazon.com, Inc.Close $265.01EOD only

Max Pain

$260.00

Next expiry May 22, 2026

Expected Move

±$5.47

2.1% from close

Price Gap

-5.01

Distance to max pain

IV Rank

Low premium

P/C OI

0.58

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 20, 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 20, 2026 close

AMZN Directional Report

Analysis based on market close May 20, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish with strong flow and gamma pinning near $260, capped by resistance. Confidence 9.

Confidence:

9 / 10

GEX/flow +2, gamma pin +1, spot proximity +0.5, VIX +1.

Supports: Bullish flow, GEX, MP proximity, VIX.
Conflicts: Resistance $270, pinning, no catalyst.

📈Bullish $444.5M GEX

📌Pin $260 range-bound

🚧Resistance $270.49

Regime Classification

Vol Regime

Normal

Normal vol, VIX 17.44.

Gamma Regime

Pinning

Pinning, positive GEX $444.5M, dealers hedge to $260.

Flow Regime

Bullish

Bullish flow with positive net premium.

Spot vs Max Pain

Above

Spot $264.46 above MP $260, bullish bias.

Thesis duration: Event-specific — Expiration day pinning at $260.

Price Range Forecast

Next 2 days

$259.54$270.49

Pin $260, resistance $270.49.

Next 1 week

$257.86$272.16

Support $257.86, resistance $272.16.

Next 2 weeks

$252.09$277.94

Support $252.09, resistance $277.94.

Key Levels

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

EM guardrails: 2d $259.54/$270.49; 1w $257.86/$272.16

Support: $260.00 · $252.09

Resistance: $275.00 · $277.94 · $290.00

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,906 (24.5% below spot)

Structural: Support $260, $252.09; resistance $275, $277.94, $290. Guardrails: 2d $259.54/$270.49; 1w $257.86/$272.16.

Dealer Positioning (GEX/DEX)

GEX: $+444.5M

DEX: +137.1M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 31,906 (24.5% below spot))

NTM gamma: Long gamma $444.5M, delta +137.1M shares, flip ~$200 far below spot.

IV Analysis

IV vs VIX: AMZN IV normal vs VIX 17.44.

Term structure: Slight contango, weekly expiration kinks.

Skew: Put skew elevated; call overwriting opportunity.

Flow Analysis

Net premium: Net premium +$143M, P/C vol 0.37, strong call bias.

Directional prints: 26.2 call 262.5 ITM 2026-05-26 — Vol/OI 27.1x, aggressive call buying for next week. Likely bought. 4.8 call 265 ITM 2026-05-20 — Vol/OI 11.3x, high volume at low premium on expiry. Likely bought.

Unusual: 10.2 put 262.5 OTM 2026-05-20 — Vol/OI 22x, massive put volume near zero premium. Likely sold. 9 call 267.5 OTM 2026-05-20 — Vol/OI 11.8x, large OTM call volume on expiry. Likely bought or closed. 85 put 222.5 OTM 2026-05-22 — Vol/OI 3.5x, deep OTM put with extreme IV. Likely bought as tail hedge.

Risks & Catalysts

!Pin risk at $260.

!Resistance $270.49/$275.

!Vol crush post-expiry.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-07-17 $260.00/$280.00 call spread Why now: Defined-risk debit spread to capture upside with resistance cap.	Risk if stock blows past $275 or drops.
Bullish risk reversal	Moderate-Strong	Buy 2026-07-17 $280.00 call / sell 2026-07-17 $245.00 put Why now: Bullish thesis with strong call flow; cheap upside via put sale.	Uncapped downside if stock drops below put strike.
Long call	Strong	Buy 2026-07-17 $270.00 call Why now: Aggressive flow and bullish bias.	Time decay and vol crush if stock stalls.
Cash-secured put	Moderate	Sell 2026-07-17 $245.00 cash-secured put Why now: Bullish thesis with strong support near $250.	Assignment risk if stock drops below $250.

Top Plays

Bull Call Spread

Buy 2026-07-17 $260.00/$280.00 call spread

Buy $260/$280 call spread to profit from bullish move while capping loss.

Why this play: Best risk/reward; defined risk, captures upside gamma near $260 resistance.

Debit: $8.08-$9.87

Max loss: $9.87

BE: $269.87

Mgmt: Exit near $275 or if AMZN drops below $260.

Moderate bullish traders seeking limited risk.

Bullish Risk Reversal

Buy 2026-07-17 $280.00 call / sell 2026-07-17 $245.00 put

Buy $280 call, sell $245 put to finance upside with defined downside risk.

Why this play: Cheap upside via put sale; strong call flow supports bullish bias.

Debit: $2.20-$2.69

Max loss: $245.00

BE: $245.00

Mgmt: Roll put if AMZN dips near $250; take profit on call at $280+.

Aggressive traders comfortable with short put risk.

Long Call

Buy 2026-07-17 $270.00 call

Buy $270 call to leverage bullish momentum with volatility.

Why this play: Aggressive directional play; high premium but unlimited upside aligned with flow.

Debit: $9.99-$12.21

Max loss: $12.21

BE: $282.21

Mgmt: Trail stop loss; exit if AMZN falls below $260.

High-risk, high-reward traders with strong conviction.

Watchlist Triggers

Entry Triggers

IFIf AMZN holds above $260 support → Enter bull call spread $260/$280 (s1) for defined upside

IFIf AMZN breaks above $270.49 (2d guardrail) → Enter long call $270 (s3) for aggressive momentum

Adjustment Triggers

ADJIf AMZN drops below $260 → Close bull call spread; consider cash-secured put $245 (s4) for premium at support

Exit Triggers

EXITIf AMZN reaches $275 resistance → Take profit on bull call spread (max gain near $10)

EXITIf AMZN falls below $252.09 → Exit all bullish positions

Tactical Summary

AMZN bullish with gamma pinning near $260; support $260/$252.09, resistance $275/$277.94/$290. Trade $260/$280 call spread for defined risk, or $270 call for aggression. Use $245 cash-secured put if support holds. Key guardrails 2d: $259.54/$270.49; 1w: $257.86/$272.16.

How to Use These Reports

This directional reflects the market close on May 20, 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.