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AMZN

Amazon.com, Inc.Close $248.28EOD only
Max Pain
$240.00
Next expiry Apr 22, 2026
Expected Move
±$4.70
1.9% from close
Price Gap
-8.28
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
0.58
Slightly call-heavy
Consensus
6.0/10
Range bias
Published snapshot: Apr 20, 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
Apr 20, 2026 close
AMZN Earnings Report
Analysis based on market close April 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

High-confidence pinning into 2026-04-29 AMZN earnings; market flow favors holding spot inside $245–$255 range into 4/29 expiry.

Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 20; override: Flow and GEX alignment with pinning; VIX ~20 supportive
Most important: Large short-dated put and call flow concentrated around $247.5–$255 with net premium bias supports pinning into 4/29.
📌Pinning likely around $245–$255 given concentrated 4/29 put/call flow
⚡Front-week IV elevated; expect moderate post-event crush on 4/29
🧭75% historical beat rate nudges bullish bias but not guaranteed

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above

Earnings Overview

Next earnings: 2026-04-29 (8 days)explicit

Expected moves:

  • 2026-04-22 (1d): ±$4.03 (1.6%)
  • 2026-04-24 (3d): ±$6.67 (2.7%)
  • 2026-04-27 (6d): ±$7.95 (3.2%)

IV Setup

Term structure: Front-week IV elevated (~27–36%) vs longer-dated; spike in very short-dated IV on far OTM call (295) is idiosyncratic.

Crush estimate: Moderate crush expected (~6–12%) for 4/29 front-week, larger for nearest-expiry front-week strikes.

Skew: Put-heavy prints near 247.5–255 produce mild put skew; call OI walls visible 255 and 275–300.

Historical Context

Beat rate: 75% (3/4 quarters)

Avg move vs expected: Historical beat rate 75%; realized moves typically match or slightly exceed expected 1–3 day moves around earnings.

Directional bias: Slight bullish/pinning bias given past beats and current bullish flow into 4/29.

Key Levels

1EM guardrails: 2d $245.89/$253.94; 1w $241.96/$257.86
2Max pain pins: $245 (2026-04-22); $235 (2026-04-24); $240 (2026-04-27)

Flow Highlights

Concentrated 4/29 put volume at 247.5–255 and heavy 4/29 call volume at 255

Short-dated flow concentrated around mid-250s favors pinning into 4/29 and compresses realized move.

Net premium large positive and put_call_oi_ratio ~0.58 for front-week

Premium sellers dominant; gamma regime supports stability near pin levels ahead of 4/29.

Strategies

Defined-wing iron condor
Sell 2026-05-01 $235.00/$220.00 put wing and $265.00/$280.00 call wing
Credit: $4.78-$5.85
Max loss: $9.15
Max gain: $5.85
BE: 229.15 / 270.85
Trigger: Enter within entry range; trim or roll if spot breaches 245 or 255; close into front-week IV crush.
Collect premium around pinned 247.5–255 range with limited risk.
Outperforms: Sell May01 235/220 put wing and 265/280 call wing to profit if spot holds inside core range into 4/29.
Underperforms: Move outside short strikes invalidates range thesis.
Short strangle
Sell 2026-05-01 $230.00 put + sell $272.50 call
Credit: $4.65-$5.68
Max loss: Unlimited
Max gain: $5.68
BE: 224.32 / 278.18
Trigger: Tight monitors at guardrails, delta cuts or buybacks if flow flips or SPY shock.
Max premium capture from elevated front-week IV and pinning bias.
Outperforms: Sell May01 230 put and 272.5 call to harvest rich prem; higher tail risk if large gap.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Call diagonal
Sell 2026-05-01 $265.00 call / buy 2026-06-18 $260.00 call
Debit: $5.85-$7.15
Max loss: $7.15
Max gain: Variable
BE: Path-dependent
Trigger: Manage if spot <245 invalidates or rotate short leg after earnings.
Express slight bullish bias while monetizing high short IV.
Outperforms: Sell May01 265 call, buy Jun18 260 to own skewed upside with time premium sell.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Unexpected macro shock (SPY momentum) can overwhelm pinning
!Post-earnings IV crush can still produce option losses despite pinning
!Large structural call OI 275–300 could cap upside if flow flips

What to Watch

?4/29 short-dated prints and traded IV changes at 247.5–255
?Spot behavior vs $245/$253 intraday guardrails into 4/29
?Volume/OI shifts into weeklies after 4/29 for directional leakage
How to Use These Reports
This earnings reflects the market close on April 21, 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.