Home Options AMZNReports

AMZN

Amazon.com, Inc.Close $244.19EOD only

Max Pain

$245.00

Next expiry Jun 10, 2026

Expected Move

±$3.94

1.6% from close

Price Gap

+0.81

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.67

Slightly call-heavy

Consensus

6.5/10

Neutral tilt

Published snapshot: Jun 9, 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

Jun 9, 2026 close

AMZN Directional Report

Analysis based on market close June 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Mixed signals: positive dealer gamma and proximity to max pain $245 suggest pinning, but tech weakness (QQQ -1.15%) and mixed flow create downside risk. Confidence 6.5 reflects neutral-leaning-bearish through OPEX.

Confidence:

6.5 / 10

Base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.3% from MP; +0.5 VIX 20.

Supports: Positive dealer gamma ($84.4M), spot near max pain $245, moderate VIX.
Conflicts: Mixed flow, negative market context (SPY -0.29%, QQQ -1.15%).

📌Max pain pin at $245 for June 10 expiration; gamma hedging contains price.

🟢Dealers long $84.4M gamma, providing stability and mean reversion potential.

🔻Tech weakness (-1.15% QQQ) pressures AMZN; external risk.

Regime Classification

Vol Regime

Normal

VIX at 19.87 near low end of typical range, indicating normal implied vol environment.

Gamma Regime

Pinning

Positive GEX of $84.4M suggests dealer gamma hedging provides pinning effect near key strikes.

Flow Regime

Mixed

Mixed flow shows no clear directional bias; conflicting bets.

Spot vs Max Pain

Spot trading near max pain level $245, with gamma pinning expected to hold price close.

Thesis duration: Event-specific — Proximity to monthly option expiration on June 12 creates event-specific pinning dynamics.

Price Range Forecast

Next 2 days

$240.25$248.13

Gamma pinning at $245; downside protected but tech weakness could test support $240.25.

Next 1 week

$235.92$252.47

OPEX pinning at $250; resistance at $250/$255.82, support $235.92.

Next 2 weeks

$232.57$255.82

Broader weakness may push to $232.57 support; resistance at $255.82.

Key Levels

Max pain pins: $245 (2026-06-10); $250 (2026-06-12); $250 (2026-06-15)

EM guardrails: 2d $240.25/$248.13; 1w $235.92/$252.47

Support: $232.57

Resistance: $245.00 · $250.00 · $255.82

Structural: Max pain pins: $245 (06/10), $250 (06/12), $250 (06/15). EM guardrails: 2d $240.25/$248.13; 1w $235.92/$252.47. Support: $232.57; Resistance: $245, $250, $255.82. No gamma flip.

Dealer Positioning (GEX/DEX)

GEX: $+84.4M

DEX: +108.9M shares

Gamma flip: N/A

NTM gamma: Dealers long $84.4M gamma (positive). No nearby gamma flip. Positive gamma suggests dealer hedging provides floor near put strikes.

IV Analysis

IV vs VIX: AMZN IV likely inline with VIX; no premium/discount indicated.

Term structure: No explicit data; typical flattening near expiration.

Skew: Skew unknown; opportunity in selling premium near pinning strikes.

Flow Analysis

Net premium: Net premium -$43.8M; put/call vol 0.61, net selling.

Directional prints: 56 put 270 ITM 2026-06-12 — Vol/OI 61.8, elevated; possible put buying (bearish) or selling; net negative premium favors bearish. 56.7 call 225 ITM 2026-06-12 — Vol/OI 31, high; possible call buying (bullish) or selling; net negative suggests call selling (bearish). 30.9 put 237.5 OTM 2026-06-10 — Vol/OI 20.8, high; possible put buying (bearish) or selling; net negative favors bearish.

Unusual: 56 put 270 ITM 2026-06-12 — Vol/OI 61.8, extreme; large put volume, likely aggressive put buying (bearish). 56.7 call 225 ITM 2026-06-12 — Vol/OI 31, high; large call volume, could be call buying or selling; net negative suggests selling. 30.9 put 237.5 OTM 2026-06-10 — Vol/OI 20.8, high; notable put volume, likely put buying (bearish).

Risks & Catalysts

!Break below $240 support from continued tech selling.

!Failure of gamma pinning if spot deviates from max pain.

!Unexpected macro event spiking volatility.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bear put spread	Moderate	Buy 2026-06-26 $240.00/$232.50 put spread Why now: Net put selling flow and dealer gamma near max pain $245 suggest downside vulnerability; defined-risk bear put spread captures decline with capped loss.	Break above resistance or unexpected volatility spike widens spread.
Call credit spread	Weak	Sell 2026-06-26 $257.50/$265.00 call spread Why now: Low put/call vol ratio and net option selling favor premium collection; call credit spread defines risk while profiting from flat/lower price.	Upside breakout above short strike from macro catalyst. Liquidity constraints: short_call: Open interest below 25.

Top Plays

Bear Put Spread

Buy 2026-06-26 $240.00/$232.50 put spread

Defined-risk bearish position targeting decline below $240 support.

Why this play: Aligned with bearish thesis; net put flow and dealer gamma support downside; liquidity pass.

Debit: $2.08-$2.54

Max loss: $2.54

BE: $237.46

Mgmt: Exit if price breaks above $245 invalidation.

Traders expecting moderate decline before OPEX.

Call Credit Spread

Sell 2026-06-26 $257.50/$265.00 call spread

Premium collection with defined risk, but liquidity concern.

Why this play: Collects premium in neutral/bearish outlook, but liquidity fails; secondary choice.

Credit: $1.14-$1.39

Max loss: $6.11

BE: $258.89

Mgmt: Close at 50% profit or if price approaches $257.50. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Traders seeking premium income with capped risk.

Watchlist Triggers

Entry Triggers

IFAMZN closes below $240 → Buy 240/232.5 bear put spread at 2.08-2.54

Exit Triggers

EXITAMZN rises above $245 → Exit bear put spread

Tactical Summary

Neutral/bearish bias, gamma pin at $245. Preferred bear put spread defined risk. Call credit spread skipped due to liquidity.

How to Use These Reports

This directional reflects the market close on June 9, 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.