thetaOwl
HomeOptionsAMZNReports

AMZN

Amazon.com, Inc.Close $246.00EOD only
Max Pain
$240.00
Next expiry Jun 17, 2026
Expected Move
±$3.69
1.5% from close
Price Gap
-6.00
Distance to max pain
IV Rank
80
High premium
P/C OI
0.65
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 16, 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 16, 2026 close
AMZN Directional Report
Analysis based on market close June 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

AMZN below max pain $242 with positive gamma pinning. VIX 18.4 normal vol. Bias moderately bullish short-term, targeting $241.26 resistance.

Confidence:
5.5 / 10
Base 5; +1 GEX pinning; -1 mixed flow; +0.5 VIX.
Supports: GEX pinning, DEX long, support $227.25
Conflicts: Mixed flow, resistance $247.75
📌GEX $33.2M pinning $242 max pain
⚖️Mixed premium flow, no clear edge
📈DEX +117.6M shares, dealer long bias

Regime Classification

Vol Regime
Normal
Normal vol relative to VIX 18.4; no compression.
Gamma Regime
Pinning
Positive gamma $33.2M, pinning at $242, no flip risk.
Flow Regime
Mixed
Mixed premium flow; P/C not strongly directional.
Spot vs Max Pain
Below
Spot below max pain $242; mean reversion likely.
Thesis duration: Event-specific — Max pain expiry 6/17 creates pinning; gamma supports near-term action.

Price Range Forecast

Next 2 days
$233.74$241.26
Pinning at $242 drives grind higher.
Next 1 week
$231.69$243.31
Expiration unwind may dip, but support holds.
Next 2 weeks
$227.25$247.75
Structural support $227.25; resistance $247.75 if momentum.

Key Levels

Max pain pins: $242 (2026-06-17); $225 (2026-06-18); $245 (2026-06-22)
EM guardrails: 2d $233.74/$241.26; 1w $231.69/$243.31
Support: $227.25
Resistance: $242.50 · $247.75 · $250.00
Structural: Support $227.25, resistance $242.5 & $247.75. Max pain $242 pinning for 6/17 expiry.

Dealer Positioning (GEX/DEX)

GEX: $+33.2M

DEX: +117.6M shares

Gamma flip: N/A

NTM gamma: Positive gamma $33.2M, no flip. DEX +117.6M shares reinforcing floor. NTM gamma bullish.

IV Analysis

IV vs VIX: AMZN IV near VIX 18.4, not rich/cheap.

Term structure: Modest contango; front-month slight event lift.

Skew: Slightly put-heavy skew; no standout arb. Calendar spreads benefit from event decay.

Flow Analysis

Net premium: Net premium -$227.9M (P/C vol 0.72, OI 0.64 indicates call-heavy flow but net negative premium suggests bearish via call selling or put buying).

Directional prints: 60.6 put 265 ITM 2026-06-22 — Vol/OI 33.6x, OI 189, IV 60.6%; bought puts (bearish) vs sold (bullish); preferred read bearish. 33.4 put 222.5 OTM 2026-06-26 — Vol/OI 32.9x, OI 105, IV 33.4%; speculative put buying (bearish) vs selling; preferred read bearish.

Unusual: 18 call 242.5 OTM 2026-06-17 — Vol/OI 66.7x, OI 744, expiry day; closing (sold) vs opening (bought) at near-zero; preferred read bearish closing. 60.6 put 265 ITM 2026-06-22 — Vol/OI 33.6x, OI 189, IV 60.6%; bought puts (bearish) vs sold (bullish); preferred read bearish. 33.4 put 222.5 OTM 2026-06-26 — Vol/OI 32.9x, OI 105, IV 33.4%; speculative put buying (bearish) vs selling; preferred read bearish.

Risks & Catalysts

!Break below $233.74 triggers gamma unwind
!Mixed flow allows sudden reversal
!Resistance $242.5 caps upside if not breached

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bull call spreadModerate
Buy 2026-07-10 $235.00/$240.00 call spread
Why now: Call-heavy flow and positive gamma pin near $240 support upside; limited to $242.5 resistance makes spread efficient.
Loss limited to net debit if stock drops below $237.5. Substitutions: long_call: resolved contract 2026-07-10 $237.50 missing; used 2026-07-10 $235.00.; short_call: resolved contract 2026-07-10 $242.50 missing; used 2026-07-10 $240.00.
Put credit spreadModerate
Sell 2026-07-10 $235.00/$230.00 put spread
Why now: Call-heavy flow and gamma support at $235; selling put at support captures time decay.
Max loss if stock closes below $230; width of spread $5.
Long callModerate-Weak
Buy 2026-07-17 $240.00 call
Why now: Call-flow dominance and positive gamma near max pain; cheap premium for near-term bounce.
Time decay if stock stays flat; full loss if below $240.

Top Plays

#1
Bull Call Spread
Buy 2026-07-10 $235.00/$240.00 call spread
Buy 235/240 call spread to capture short-term upside with defined risk.
Why this play: Best fits call-heavy flow and positive gamma pin near $240; efficient with limited risk up to $242.5 resistance.
Debit: $2.23-$2.72
Max loss: $2.72
BE: $237.72
Mgmt: Exit if AMZN breaks below $233.74 or nears $242.5 resistance.
Traders seeking limited-risk bullish exposure near support.
#2
Put Credit Spread
Sell 2026-07-10 $235.00/$230.00 put spread
Sell 235/230 put spread to profit from time decay and support.
Why this play: Leverages call flow and gamma support at $235; collects premium with defined risk.
Credit: $1.71-$2.09
Max loss: $2.91
BE: $232.91
Mgmt: Close early if AMZN moves below $235; invalid if $227.25 breached.
Neutral-to-bullish traders comfortable with small downside buffer.
#3
Long Call
Buy 2026-07-17 $240.00 call
Buy 240 call for near-term bullish bet.
Why this play: Captures upside potential but faces resistance and high premium cost; lower rank due to risk/reward.
Debit: $7.02-$8.58
Max loss: $8.58
BE: $248.58
Mgmt: Hold until expiration or set stop at $227.25.
Aggressive traders expecting breakout above $242.5.

Watchlist Triggers

Entry Triggers
IFAMZN holds above $233.74 and breaks above $235 → Buy 235/240 call spread (July 10)
IFAMZN stays above $235 support → Sell 235/230 put spread (July 10)
IFAMZN breaks above $240 with volume → Buy 240 call (July 17)
Exit Triggers
EXITAMZN breaks below $233.74 → Exit all bullish positions
EXITAMZN breaks below $227.25 → Exit all positions

Tactical Summary

AMZN moderately bullish short-term targeting $241.26 with call-heavy flow and gamma pin near $242. Key support $227.25, resistance $242.5. Enter bull call on pullback to $235, put credit spread on hold above $235, or long call on breakout above $240. Exit if break below $233.74 or $227.25.
How to Use These Reports
This directional reflects the market close on June 17, 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.