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AMZN

Amazon.com, Inc.Close $238.55EOD only

Max Pain

$240.00

Next expiry Jun 15, 2026

Expected Move

±$4.50

1.9% from close

Price Gap

+1.45

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.65

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 12, 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 12, 2026 close

AMZN Directional Report

Analysis based on market close June 11, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 11, 2026. A newer directional report is available for June 12, 2026.

View latest report

Outlook

AMZN strongly bullish near-term with dealer gamma pinning at $245 (2026-06-12) and bullish flow. Spot below max pain suggests drift upward into expiry. Key resistance $245 and $250. Maintain bullish bias while above support $228.66.

Confidence:

9 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; +0.5 spot 1.4% from MP; +0.5 VIX 19.

Supports: Bullish flow, positive GEX ($+92.4M), spot below MP, positive DEX (+108.5M shares).
Conflicts: Resistance at $245 and $250; potential exhaustion after +3.38% QQQ rally; elevated IV may revert.

🚀Flow strongly bullish with dealer gamma support.

📍Max pain at $245 (June 12) encourages upward drift.

⚠️Resistance at $245 and $250; watch for rejection.

Regime Classification

Vol Regime

Normal

Normal vol: IV moderate, not elevated vs recent range.

Gamma Regime

Pinning

Pinning gamma: GEX $+92.4M, positive gamma near $245, dealers hedge to pin.

Flow Regime

Bullish

Bullish flow: net premium strongly positive, call buying dominant.

Spot vs Max Pain

Below

Spot below MP ($245), upward bias to pin.

Thesis duration: Event-specific — Max pain expiry tomorrow (2026-06-12) focuses price on $245; structural beyond less defined.

Price Range Forecast

Next 2 days

$237.12$245.89

Drift to $245 MP, resistance at $245.

Next 1 week

$233.18$249.83

Upside bias but resistance zone $245-$250 may cap.

Next 2 weeks

$228.66$254.36

Range-bound with upside bias; support $228.66.

Key Levels

Max pain pins: $245 (2026-06-12); $248 (2026-06-15); $248 (2026-06-17)

EM guardrails: 2d $237.12/$245.89; 1w $233.18/$249.83

Support: $228.66

Resistance: $245.00 · $250.00 · $254.36

Structural: MP pins $245 (Jun12), $248 (Jun15), $248 (Jun17). EM guardrails: 2d $237.12/$245.89; 1w $233.18/$249.83. Support $228.66, resistance $245, $250, $254.36.

Dealer Positioning (GEX/DEX)

GEX: $+92.4M

DEX: +108.5M shares

Gamma flip: N/A

NTM gamma: Dealer long gamma ($+92.4M GEX), positive DEX (+108.5M shares). No flip risk; gamma positive pinning at $245.

IV Analysis

IV vs VIX: IV modestly rich vs VIX 19.4 due to expiry, not extreme.

Term structure: Front-end elevated for Jun12; back-end flatter.

Skew: Skew flat with slight call premium; no clear vol arbitrage.

Flow Analysis

Net premium: Net bullish premium of $53.6M with put/call volume ratio 0.51 indicates aggressive call buying.

Directional prints: 29.2 call 240 ITM 2026-06-12 — Vol/OI 9.2, huge volume of 40,722 vs OI 4,446. Likely bought, bullish bet on short-term upside. 30.1 call 242.5 OTM 2026-06-12 — Vol/OI 8.7, volume 27,702 vs OI 3,192. Likely bought, aggressive bullish positioning at higher strike.

Unusual: 70.7 call 220 ITM 2026-06-15 — Vol/OI 13.8, IV 70.7% high. Likely bought, deep ITM call with unusually high premium. 33.8 call 237.5 ITM 2026-06-18 — Vol/OI 11.8, volume 1,925 vs OI 163. Likely bought, noteworthy IV jump. 27.5 call 240 ITM 2026-06-15 — Vol/OI 11.0, volume 3,953 vs OI 358. Likely bought, consistent OTM call buying.

Risks & Catalysts

!Failure to hold above $245 MP leads to pin failure and selloff.

!Vol contraction post-expiry could hurt long gamma positions.

!QQQ reversal after large cap rally.

!Rejection at $250 resistance.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-08-21 $270.00/$295.00 call spread Why now: Defined-risk upside capture using out-of-the-money call spread aligned with earnings	Max loss limited to net debit; potential for early assignment or IV crush post-earnings
Bullish risk reversal	Moderate-Strong	Buy 2026-08-21 $270.00 call / sell 2026-08-21 $215.00 put Why now: Bullish flow and gamma pin suggest upside; risk reversal offers cheap convexity	Unlimited upside potential, but short put exposes if stock drops sharply; manage put delta
Long call	Strong	Buy 2026-08-21 $270.00 call Why now: Aggressive call buying flow and low put/call ratio indicate bullish sentiment	Time decay and IV contraction before earnings; full loss if stock drops below strike
Cash-secured put	Moderate	Sell 2026-08-21 $215.00 cash-secured put Why now: Bullish bias and defined entry price; premium receipt offsets cost if assigned	Stock could drop below strike, resulting in assignment at potentially unfavorable price
Put credit spread	Moderate-Strong	Sell 2026-08-21 $215.00/$195.00 put spread Why now: Bullish flow and gamma pin at $245 support selling puts; credit spread limits risk	Loss if stock drops below short put; max loss is width of strikes minus credit received

Top Plays

Bullish Risk Reversal

Buy 2026-08-21 $270.00 call / sell 2026-08-21 $215.00 put

Buy $270 call, sell $215 put for upside with premium offset.

Why this play: Cheap convexity aligns with bullish flow and gamma pin; limited downside via put sale.

Debit: $1.06-$1.29

Max loss: $215.00

BE: $215.00

Mgmt: Monitor support at $228.66; roll if breached.

Traders seeking low-cost bullish exposure with defined risk.

Bull Call Spread

Buy 2026-08-21 $270.00/$295.00 call spread

Buy $270 call, sell $295 call for capped risk and gain.

Why this play: Defined-risk earnings play with upside to $295; captures earnings drift.

Debit: $3.53-$4.32

Max loss: $4.32

BE: $274.32

Mgmt: Exit if stock falls below $228.66 or near expiration.

Risk-averse bulls targeting earnings move.

Put Credit Spread

Sell 2026-08-21 $215.00/$195.00 put spread

Sell $215 put, buy $195 put to profit from bullish view.

Why this play: Collects premium with limited risk; bullish on support holding.

Credit: $2.83-$3.46

Max loss: $16.54

BE: $211.54

Mgmt: Manage if stock approaches $215; roll or close.

Income-focused bulls expecting limited downside.

Watchlist Triggers

Entry Triggers

IFAMZN holds above $228.66 support with bullish momentum → Enter Bullish Risk Reversal (buy 2026-08-21 $270 call, sell 2026-08-21 $215 put) near 1.17 credit.

IFAMZN breaks above $245 resistance → Enter Bull Call Spread (buy 2026-08-21 $270 call, sell 2026-08-21 $295 call) near 3.92 debit.

Exit Triggers

EXITAMZN closes below $228.66 invalidation level → Exit all bullish positions immediately.

Tactical Summary

Maintain bullish bias above $228.66. Primary: Bullish Risk Reversal for cheap upside. Secondary: Bull Call Spread on $245 break. Exit if support fails. Manage risk ahead of earnings.

How to Use These Reports

This directional reflects the market close on June 11, 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.