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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 10, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

AMZN is poised for a near-term bounce toward $245 max pain, supported by strong positive dealer gamma ($+11.1M GEX) that stabilizes price. However, broader market weakness (SPY -1.58%, QQQ -2.0%) and elevated VIX (22.22) cap upside beyond $250. Thesis: slightly bullish into pin, vulnerable to macro.

Confidence:

5 / 10

Base 5; GEX/flow contradict (-1) but GEX positive pinning (+1). Net 5, but macro risks warrant caution.

Supports: Gamma pinning at $245; positive GEX ($+11.1M); high DEX (+109M shares); support at $227.12.
Conflicts: Broad market selloff (SPY -1.58%, QQQ -2.0%); VIX elevated at 22.22; mixed flow; resistance at $245, $250.

📌Max pain $245 pins spot; positive gamma supports drift higher.

⚠️Market selloff creates headwinds; VIX 22.22 suggests fear.

📊Dealer gamma $+11.1M, no flip risk; near-term floor active.

Regime Classification

Vol Regime

Normal

Vol is Normal; IV near typical levels, not elevated despite market volatility.

Gamma Regime

Pinning

Gamma is Pinning; positive GEX $+11.1M with high DEX +109M shares; dealers hedge to stabilize near $245 max pain.

Flow Regime

Mixed

Flow is Mixed; net premium balanced with both put and call buying; no directional conviction.

Spot vs Max Pain

Below

Spot is Below Max Pain ($245); upward drift expected toward the pin.

Thesis duration: Event-specific — Gamma pinning strongest for today's expiry (2026-06-10); subsequent expiries also pin near $250, but near-term OPEX drives short-term bounce thesis.

Price Range Forecast

Next 2 days

$232.25$243.75

Gamma support pushes toward $245; resistance at $245.00.

Next 1 week

$230.82$245.18

Drift to $245; resistance at $245 and $250; support $230.82.

Next 2 weeks

$227.12$248.88

Broad macro uncertainty caps upside; range-bound $227-$249.

Key Levels

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

EM guardrails: 2d $232.25/$243.75; 1w $230.82/$245.18

Support: $227.12

Resistance: $245.00 · $248.88 · $250.00

Structural: Support: 227.12; Resistance: 245.00, 248.88, 250.00

Dealer Positioning (GEX/DEX)

GEX: $+11.1M

DEX: +109.0M shares

Gamma flip: N/A

NTM gamma: Positive gamma ($+11.1M GEX) with high DEX (+109M shares); no flip risk; provides pinning support near $245.

IV Analysis

IV vs VIX: IV is relatively cheap vs VIX (22.22), suggesting company-specific calm; vol premium opportunity via short puts.

Term structure: Term structure is flat with slight contango; event kinks near OPEX; front-month expiry dominant.

Skew: Put skew elevated due to market fear; consider selling OTM put spreads in near term to capture premium.

Flow Analysis

Net premium: Net premium -$75M; put/call ratio 0.74 (call-heavy), net bearish from put premium.

Directional prints: 6.9 put 237.5 OTM 2026-06-10 — Vol/OI 32.5x on $237.50 put, 55k volume. Likely bought as bearish hedge or speculation. Preferred read: bearish put buying. 54.8 call 220 ITM 2026-06-12 — Vol/OI 39.0x on $220 call, 6k volume, high IV. Could be bullish buy or bearish sell. Net bearish flow favors sold. Preferred read: bearish call selling.

Unusual: 8.2 call 240 OTM 2026-06-10 — Vol/OI 44.7x on $240 call, 47k volume, near zero premium. Likely closing/opening. Unusual activity with low IV. 54.8 call 220 ITM 2026-06-12 — Vol/OI 39.0x on $220 call, 6k volume, high IV. Unusual as ITM call with large relative volume. 16.4 call 242.5 OTM 2026-06-10 — Vol/OI 34.3x on $242.50 call, 54k volume, near zero premium. Unusual high volume for OTM call.

Risks & Catalysts

!Broader market selloff (SPY -1.58%, QQQ -2.0%) could accelerate downside.

!Elevated VIX at 22.22 signals macro stress.

!Mixed flow with sell-side buying lacks directional conviction.

!Resistance at $245 and $250 may cap upside reversal.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-26 $247.50/$252.50 call spread Why now: Captures defined upside with limited downside; aligns with short-term bullish lean.	Macro selloff could cap upside; max loss if price stays below long strike.
Put credit spread	Moderate	Sell 2026-06-26 $230.00/$220.00 put spread Why now: Collects premium with defined risk; favors low volatility bias into pin.	Unexpected drop below short strike; elevated VIX raises tail risk.

Top Plays

Bull Call Spread

Buy 2026-06-26 $247.50/$252.50 call spread

Defined-risk upside play capturing move to $252.50 with limited downside.

Why this play: Aligns with near-term bounce to $245 max pain supported by dealer gamma.

Debit: $1.07-$1.30

Max loss: $1.30

BE: $248.80

Mgmt: Exit at 50% max gain or on break below invalidation level $227.12.

Traders bullish into earnings pin with controlled risk.

Put Credit Spread

Sell 2026-06-26 $230.00/$220.00 put spread

Neutral-to-bullish premium capture with wide safety buffer.

Why this play: Collects premium in low vol bias while defined risk suits cautious macro outlook.

Credit: $1.75-$2.14

Max loss: $7.86

BE: $227.86

Mgmt: Manage at 50% max profit or if SPY breaks support.

Traders expecting minimal downside despite macro stress.

Watchlist Triggers

Entry Triggers

IFIF AMZN holds above $227.12 and rallies toward $245 → THEN enter Bull Call Spread (buy 247.50/252.50 call spread) for defined-risk upside.

IFIF AMZN remains above $227.12 with stable macro → THEN enter Put Credit Spread (sell 230/220 put spread) for premium collection.

Exit Triggers

EXITIF AMZN breaks below $227.12 → THEN exit all bullish positions, including Bull Call Spread, to limit losses.

EXITIF AMZN breaks below $227.12 → THEN exit Put Credit Spread to avoid downside risk.

Tactical Summary

Slightly bullish bias into earnings pin but capped by macro weakness. Key level $227.12 is invalidation. Prioritize Bull Call Spread (rank 1) for defined upside to $245 max pain. Put Credit Spread (rank 2) for premium if support holds. Manage risk strictly if $227.12 breaks.

How to Use These Reports

This directional reflects the market close on June 10, 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.