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AMZN

Amazon.com, Inc.Close $266.32EOD only
Max Pain
$262.50
Next expiry May 26, 2026
Expected Move
±$4.14
1.6% from close
Price Gap
-3.82
Distance to max pain
IV Rank
23
Low premium
P/C OI
0.59
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: May 22, 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
May 22, 2026 close
AMZN Earnings Report
Analysis based on market close May 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMZN in low-IV period 65 days from earnings; bullish flow with heavy call buying and put selling pinning spot near $265.

Confidence:
0 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.1% from MP; +1 VIX 17
Most important: Unusual call volume on 0DTE $265 (32x OI) and $267.5 indicates aggressive bullish positioning near key levels.
📈Call volume on 5/26 $265 strike 32x OI – aggressive bullish positioning.
⚠️Put floor at $200; call wall $300-$370 – wide range.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,931 (24.6% below spot)

Earnings Overview

Next earnings: 2026-07-30 (65 days)explicit

Expected moves:

  • 2026-05-27 (1d): ±$2.96 (1.1%)
  • 2026-05-29 (3d): ±$6.12 (2.3%)
  • 2026-06-01 (6d): ±$7.25 (2.7%)

IV Setup

Term structure: Low IV across expiries; 1d expected move ±1.1%, 6d ±2.7%, consistent with quiet earnings anticipation.

Crush estimate: N/A – earnings far out; no immediate crush.

Skew: Flat skew; puts and calls priced similarly.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: N/A – no comparable inter-earnings period data.

Directional bias: Bullish flow and net premium suggest upward bias.

Key Levels

1$200.00 gamma flip
2EM guardrails: 2d $262.33/$268.25; 1w $258.04/$272.54
3Max pain pins: $262 (2026-05-26); $265 (2026-05-27); $260 (2026-05-29)

Flow Highlights

Net premium $150M with put/call volume ratio 0.41; heavy call buying on 0DTE $265 and $267.5.

Traders aggressively buying calls and selling puts, pinning spot near $265 max pain.

Strategies

Bullish Call Diagonal
Sell 2026-06-05 $275.00 call / buy 2026-07-17 $270.00 call
Debit: $7.76-$9.49
Max loss: $9.49
Max gain: Variable
BE: Path-dependent
Trigger: Monitor invalidation at $262.5; roll if breached.
Low IV and bullish flow favor diagonal; net theta positive with upside delta.
Outperforms: Sell near-term call, buy later call; profits from time decay and upside.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Earnings Long Strangle
Buy 2026-08-21 $250.00 put + buy $300.00 call
Debit: $15.48-$18.92
Max loss: $18.92
Max gain: Unlimited
BE: 231.08 / 318.92
Trigger: Manage theta decay; adjust strikes as earnings approaches.
Low IV and far earnings date allow cheap premium; but earnings can cause large moves.
Outperforms: Long put and call, profits from volatility expansion.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Low IV reduces premium decay risk near term.
!Gamma flip at 200 highlights put OI concentration; spot above flips gamma positive.
!Pin risk: max pain at $262 today, $265 tomorrow.

What to Watch

?Spot action relative to $262-$265 max pain range.
?Open interest changes at $265 call/put wall.
?Earnings expectations as date approaches (65 days out).
How to Use These Reports
This earnings reflects the market close on May 26, 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.