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AMZN

Amazon.com, Inc.Close $266.32EOD only

Max Pain

$262.50

Next expiry May 26, 2026

Expected Move

±$4.14

1.6% from close

Price Gap

-3.82

Distance to max pain

IV Rank

Low premium

P/C OI

0.59

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 22, 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 22, 2026 close

AMZN Directional Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

AMZN bullish regime pinning strong GEX support. Upside bias 1w $271.92 2w $276.8. High confidence aligned GEX/flow.

Confidence:

9 / 10

Base5 +2 GEX/flow +1 GEXpin +0.5 spotMP +1 VIX17

Supports: Bullish flow positive GEX vol normal spot above MP VIX17
Conflicts: Gamma flip $200 resistance $275

📈Bullish flow and pinning

⚡Strong dealer GEX support

⚠️Gamma flip at $200 risk

Regime Classification

Vol Regime

Normal

Normal vol VIX16.7 no stress

Gamma Regime

Pinning

Pinning GEX+377.7M max pain $262

Flow Regime

Bullish

Bullish flow above avg premiums

Spot vs Max Pain

Above

Spot above max pain $262 by 1.5% bullish

Thesis duration: Multi-week — Multiple pin dates strong GEX bull flow multi-week structural

Price Range Forecast

Next 1 week

$260.72$271.92

Range 260.72-271.92 pinning at 262 supports upside

Next 2 weeks

$255.85$276.80

Range 255.85-276.8 resistance at 275

Key Levels

Max pain pins: $262 (2026-05-22); $262 (2026-05-26); $262 (2026-05-27)

EM guardrails: 1w $260.72/$271.92

Support: $262.50 · $255.85

Resistance: $275.00 · $276.80 · $290.00

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,870 (24.9% below spot)

Structural: Max pain $262 EM 1w $260.72/$271.92 support $262.5/$255.85 resistance $275/$276.8/$290 gamma flip $200

Dealer Positioning (GEX/DEX)

GEX: $+377.7M

DEX: +138.9M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 31,870 (24.9% below spot))

NTM gamma: GEX +$377.7M DEX +138.9M shares gamma flip $200 put OI strong positive gamma

IV Analysis

IV vs VIX: IV normal vs VIX fair

Term structure: Flat to contango typical

Skew: Skew neutral no actionable

Flow Analysis

Net premium: Net premium +$109M, put/call vol ratio 0.34, strong call buying and bullish sentiment.

Directional prints: 26.3 call 270 OTM 2026-05-26 — Vol/OI 13.7x, aggressive call buying, likely bullish anticipation. 26.7 call 267.5 OTM 2026-05-26 — Vol/OI 10.2x, heavy call accumulation, bullish flow. 31.3 call 272.5 OTM 2026-05-29 — Vol/OI 5.2x, notable call buying in weekly expiration, upside bias.

Unusual: 26.3 call 270 OTM 2026-05-26 — Vol/OI 13.7x, extremely high; likely bought, bullish. 26.7 call 267.5 OTM 2026-05-26 — Vol/OI 10.2x, unusual call activity, bullish. 27.7 put 262.5 OTM 2026-05-26 — Vol/OI 9.6x, unusual put buying, possibly hedging downside.

Risks & Catalysts

!Downside gamma flip near $200

!Failure to hold $262.5

!VIX spike to 20+

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-07-17 $270.00/$285.00 call spread Why now: Upside bias to 280+ via aggressive call buying; limited risk defined spread.	Upside capped at 285; downside if support fails below 262.5.
Put credit spread	Moderate	Sell 2026-06-26 $260.00/$250.00 put spread Why now: 260 put has high open interest, selling premium with hedge at 250.	Max loss at 250; downside gamma risk if support breaks.
Long call	Moderate-Strong	Buy 2026-07-17 $270.00 call Why now: Aggressive call buying and positive gamma exposure support upside.	Time decay if stock stalls; full premium at risk.
Cash-secured put	Moderate	Sell 2026-06-26 $250.00 cash-secured put Why now: Willing to buy stock at 250, premium yields ~1.2% yield over 5 weeks.	Stock can drop below 250; assignment obligates purchase.

Top Plays

Buy $270 Call

Buy 2026-07-17 $270.00 call

Captures unlimited upside if AMZN continues rally to 280+; high leverage.

Why this play: Direct upside exposure aligned with aggressive call buying and bullish gamma support.

Debit: $10.12-$12.38

Max loss: $12.38

BE: $282.38

Mgmt: Consider partial profits at 280-285; stop if AMZN breaks below 262.5.

Aggressive traders with high conviction in near-term rally.

Bull Call Spread 270/285

Buy 2026-07-17 $270.00/$285.00 call spread

Buy $270 call, sell $285 call; max profit $9 at 285, risk limited to net debit.

Why this play: Defined risk play targeting upside to 285; limits cost while participating in rally.

Debit: $4.90-$6.00

Max loss: $6.00

BE: $276.00

Mgmt: Exit near 285 or if stock drops below 262.5; roll if close to expiration.

Traders seeking capped risk with bullish view but want lower cost than long call.

Sell Put Spread 260/250

Sell 2026-06-26 $260.00/$250.00 put spread

Sell $260 put, buy $250 put; max gain $3.19, risk if AMZN falls below 260.

Why this play: Collects premium with bullish bias; high open interest at 260 supports resistance.

Credit: $2.61-$3.19

Max loss: $6.81

BE: $256.81

Mgmt: Close if stock drops below 262.5 or take profits at 50% of max gain.

Income-focused traders expecting AMZN to stay above 260 into June expiration.

Watchlist Triggers

Entry Triggers

IFIf AMZN holds above 262.5 support with volume, then buy 2026-07-17 $270 call (amzn_long_call_001). → Buy 2026-07-17 $270 call targeting 276.8 and 290.

Adjustment Triggers

ADJIf AMZN reaches 276.8, then take partial profits on long call and roll bull call spread up. → Sell 50% of long call; roll amzn_bull_call_001 to 280/295 spread.

Exit Triggers

EXITIf AMZN closes below 262.5, then exit all bullish positions. → Close amzn_long_call_001 and amzn_bull_call_001.

Tactical Summary

AMZN bullish with support at 262.5 and gamma flip at 200. Upside bias to 276.8. Use long call or 270/285 bull call spread on hold above support. Invalidation below 262.5. Manage profits near 276.8.

How to Use These Reports

This directional reflects the market close on May 22, 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.