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AMZN

Amazon.com, Inc.Close $244.39EOD only

Max Pain

$240.00

Next expiry Jun 22, 2026

Expected Move

±$4.29

1.8% from close

Price Gap

-4.39

Distance to max pain

IV Rank

100

High premium

P/C OI

0.63

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

AMZN Directional Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias driven by strong dealer gamma ($+290M GEX), bullish flow, and spot above max pain. Target $250-$256 over 1-2 weeks.

Confidence:

8 / 10

Base 5 +2 GEX/flow aligned +1 GEX positive pinning -1 spot 11% above MP +1 VIX low = 8

Supports: Bullish flow, positive dealer gamma, spot above support, low VIX
Conflicts: Spot 11% above max pain, resistance at $250

📊GEX +$290M strongly positive, pinning near $240 max pain

📈QQQ +2.5%, tech momentum supportive

⚠️Spot 11% above MP, risk of pullback to $240

Regime Classification

Vol Regime

Normal

Vol is Normal; IV in line with recent range despite 2%+ QQQ move.

Gamma Regime

Pinning

GEX strongly positive at +$290M, indicating pinning near dealer hedges.

Flow Regime

Bullish

Flow is Bullish; net premium inflow supports upside.

Spot vs Max Pain

Above

Spot at ~$245 is above max pain $220 and $240 near-term pins, bullish bias.

Thesis duration: Event-specific — Dealer gamma pinning and bullish flow suggest near-term directional bias through OPEX.

Price Range Forecast

Next 1 week

$237.59$251.19

Dealer gamma and flow support move toward $251 resistance.

Next 2 weeks

$232.69$256.09

Broader resistance at $256; support at $233.

Key Levels

Max pain pins: $220 (2026-06-18); $240 (2026-06-22); $240 (2026-06-24)

EM guardrails: 1w $237.59/$251.19

Support: $232.69 · $220.00

Resistance: $250.00 · $256.09 · $260.00

Structural: Support: $232.69 (1w EM), $220 (OPEX max pain). Resistance: $250, $256.09 (2w EM), $260. Gamma flip: N/A.

Dealer Positioning (GEX/DEX)

GEX: $+290.0M

DEX: +119.2M shares

Gamma flip: N/A

NTM gamma: GEX +$290M strongly positive; DEX +119.2M shares long; no gamma flip risk below 30%.

IV Analysis

IV vs VIX: AMZN IV likely elevated vs VIX 16.4 given tech rally and OPEX, but still moderate.

Term structure: Term structure likely upward sloping with event kinks at weekly expirations.

Skew: Put skew elevated; consider call spreads to express bullish view.

Flow Analysis

Net premium: Net premium $240.7M with put/call volume ratio 0.39 indicates strong bullish call buying.

Directional prints: 70.6 call 225 ITM 2026-06-22 — 14.7x vol/OI, ITM call bought, likely directional bullish. 19.9 call 245 OTM 2026-06-22 — 12.9x vol/OI, OTM call bought, bullish speculation. 20.1 call 247.5 OTM 2026-06-22 — 8.8x vol/OI, OTM call bought, adds to bullish flow.

Unusual: 7.6 put 242.5 OTM 2026-06-18 — 13.1x vol/OI on 0DTE deep OTM put with negligible premium suggests sold/write, bullish or neutral. 40.9 call 255 OTM 2026-07-31 — 9.7x vol/OI on far OTM call with 40.9% IV, likely bought for upside. 20.6 put 242.5 OTM 2026-06-22 — 8.9x vol/OI on OTM put, neutral to bearish hedging.

Risks & Catalysts

!Pullback to max pain $220-$240 if momentum fades

!Volatility spike from macro

!Resistance at $250-$256 holds

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Strong	Buy 2026-07-02 $245.00/$252.50 call spread Why now: Defined risk bullish spread to capture upside to resistance with favorable risk/reward.	Max loss if stock below 250 strike at expiration; limited profit above 255.
Long call	Moderate	Buy 2026-07-02 $245.00 call Why now: Simple convexity play; high delta call to target 250-256 within 2 weeks.	Theta decay if move delays; full loss if stock declines below strike.
Bullish risk reversal	Moderate	Buy 2026-07-02 $250.00 call / sell 2026-07-02 $232.50 put Why now: Captures upside momentum while premium collected from put sale offsets call cost.	Unlimited loss if stock drops significantly; requires margin for short put.

Top Plays

Bull call spread

Buy 2026-07-02 $245.00/$252.50 call spread

Captures upside with limited loss

Why this play: Defined risk, best risk/reward for $250-$256 target

Debit: $2.57-$3.15

Max loss: $3.15

BE: $248.15

Mgmt: Exit near target or if spot breaks $232.69

Risk-averse bullish traders

Long call

Buy 2026-07-02 $245.00 call

Direct bullish exposure with unlimited upside

Why this play: Simple convexity, high delta to target

Debit: $5.20-$6.35

Max loss: $6.35

BE: $251.35

Mgmt: Take profits at $250-$256; cut loss below $232.69

Aggressive traders seeking leverage

Bullish risk reversal

Buy 2026-07-02 $250.00 call / sell 2026-07-02 $232.50 put

Synthetic long with put sale funding call

Why this play: Premium offset but high loss if reversed

Debit: $1.71-$2.10

Max loss: $232.50

BE: $232.50

Mgmt: Monitor delta; roll or close if spot nears short put strike

Experienced traders comfortable with assignment risk

Watchlist Triggers

Entry Triggers

IFSpot > $245 and holds above $232.69 → Enter bull call spread (buy 2026-07-02 $245/$252.5 call spread)

IFSpot > $245 and holds above $232.69 → Enter long call (buy 2026-07-02 $245 call)

IFSpot > $250 and holds above $232.69 → Enter bullish risk reversal (buy 2026-07-02 $250 call / sell 2026-07-02 $232.5 put)

Adjustment Triggers

ADJSpot drops to $232.69 → Close short put leg of risk reversal

Exit Triggers

EXITSpot reaches $250-$256 target → Take profits on all bullish positions

EXITDaily close below $232.69 → Exit all bullish trades

Tactical Summary

Bullish bias to $250-$256; invalidation at $232.69. Prefer bull call spread or long call on break above $245. Risk reversal if spot near $250. Manage positions on support break.

How to Use These Reports

This directional reflects the market close on June 18, 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.