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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 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

AMZN bullish bias driven by dealer long gamma ($340M GEX) and positive flow. Spot above max pain, VIX low. Near-term upside towards 2d range high $268 and 1w high $272. Support at $262.5. Main risk is resistance at $268 and potential pinning.

Confidence:

9 / 10

Base 5, +2 GEX/flow alignment, +1 gamma pinning, +0.5 spot near MP, +1 VIX under 20. Total 9.5 matching input.

Supports: GEX +$340M, bullish flow, spot above MP, VIX 17, resistance break potential.
Conflicts: Resistance at $268 (2d high) and $275, gamma pinning at $262.

📈Bullish gamma & flow alignment: +$340M GEX, spot above MP.

⚠️Resistance at $268 may slow momentum near-term.

Regime Classification

Vol Regime

Normal

Normal volatility. IV consistent with VIX 17, no expansion.

Gamma Regime

Pinning

Positive gamma, pinning near $262-$265. Gamma flip far at ~$200, low risk.

Flow Regime

Bullish

Bullish flow, net premium positive, call volume dominant.

Spot vs Max Pain

Above

Spot above max pain ($262), indicating bullish tilt.

Thesis duration: Event-specific — Expiry week dynamics with pinning and bullish dealer positioning favor short-term directional move.

Price Range Forecast

Next 2 days

$262.33$268.25

Support $262.33, resistance $268.25. Upside likely.

Next 1 week

$258.04$272.54

Extended upside to $272.54. Watch $268 break.

Next 2 weeks

$251.52$279.07

Key resistance at $279.07. Downside support $251.52.

Key Levels

Max pain pins: $262 (2026-05-26); $265 (2026-05-27); $260 (2026-05-29)

EM guardrails: 2d $262.33/$268.25; 1w $258.04/$272.54

Support: $262.50 · $251.52

Resistance: $275.00 · $279.07

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,931 (24.6% below spot)

Structural: Support: 262.5, 251.52; Resistance: 275, 279.07; Gamma flip ~$200; EM guardrails 2d: 262.33-268.25, 1w: 258.04-272.54; Max pain pins: $262 (26 May), $265 (27 May), $260 (29 May).

Dealer Positioning (GEX/DEX)

GEX: $+340.3M

DEX: +135.7M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 31,931 (24.6% below spot))

NTM gamma: GEX +$340.3M, DEX +135.7M shares. Long gamma supports spot moves, flip far below at ~$200.

IV Analysis

IV vs VIX: IV normal relative to VIX 17, no excessive premium.

Term structure: Flat term structure typical of normal vol regime.

Skew: Skew neutral, no actionable vol opportunity noted.

Flow Analysis

Net premium: Strong net call premium ($150M) with P/C volume ratio 0.41, bullish.

Directional prints: 21 call 262.5 ITM 2026-05-27 — Vol/OI 31.6X; aggressive call buying, bullish bet. 19.6 call 265 ITM 2026-05-27 — Vol/OI 11.2X; notable call volume, likely bought.

Unusual: 3.9 call 265 ITM 2026-05-26 — Vol/OI 32X; massive 0DTE OTM call volume. 2.2 put 265 OTM 2026-05-26 — Vol/OI 21.4X; high 0DTE put volume, likely sold. 8 call 267.5 OTM 2026-05-26 — Vol/OI 10.4X; unusual call volume on 0DTE.

Risks & Catalysts

!Resistance at $268 may cap near-term upside.

!Gamma pinning could keep price near $262.

!Broader market selloff as VIX rises.

!Unexpected negative news or earnings miss.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-08-21 $260.00/$275.00 call spread Why now: Strong call flow and positive GEX support upside; caps cost if thesis wrong.	Max loss if AMZN < $260 at expiry.
Put credit spread	Moderate	Sell 2026-08-21 $250.00/$245.00 put spread Why now: Support at $262.5; selling 250/245 put spread captures premium above key level.	Max loss if AMZN < $245 at expiry.
Long call	Moderate	Buy 2026-08-21 $260.00 call Why now: Unusual call volume and dealer long gamma favor upside; long call provides leverage.	Max loss is premium; time decay if flat.

Top Plays

Bull Call Spread

Buy 2026-08-21 $260.00/$275.00 call spread

Buy 260/275 call spread to benefit from bullish momentum with limited cost.

Why this play: Best risk/reward capturing upside with strong call flow and dealer gamma support.

Debit: $6.62-$8.09

Max loss: $8.09

BE: $268.09

Mgmt: Exit at 50% max gain or if stock breaks below support at 262.5.

Risk-conscious bulls

Put Credit Spread

Sell 2026-08-21 $250.00/$245.00 put spread

Sell 250/245 put spread to collect premium expecting stock to stay above 250.

Why this play: Conservative play earning premium above key support, less direct upside but lower risk.

Credit: $1.44-$1.76

Max loss: $3.24

BE: $248.24

Mgmt: Close at 50% max profit or if stock approaches 250.

Income seekers

Long Call

Buy 2026-08-21 $260.00 call

Buy 260 call for unlimited upside potential leveraging bullish flow and dealer positioning.

Why this play: Maximum leverage from unusual call volume and long gamma, but higher cost and time decay.

Debit: $19.89-$24.31

Max loss: $24.31

BE: $284.31

Mgmt: Trail stop or take profits at resistance levels near 268/272.

Aggressive momentum traders

Watchlist Triggers

Entry Triggers

IFIF price holds above 262.5 support with bullish momentum → THEN buy 260/275 call spread near 6.62-8.09 (bs1)

IFIF price stays above 262.5 → THEN sell 250/245 put spread near 1.44-1.76 (bs2)

IFIF price breaks above 268 resistance → THEN buy 260 call near 19.89-24.31 (bs3)

Exit Triggers

EXITIF price breaks below 262.5 → THEN exit all long positions and adjust

Tactical Summary

AMZN bullish near-term: support 262.5, resistance 268/272. Dealer long gamma and positive flow favor upside. Top picks: Bull Call Spread (bs1), Put Credit Spread (bs2), Long Call (bs3). Key risk: breakdown below 262.5.

How to Use These Reports

This directional reflects the market close on May 26, 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.