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AMZN

Amazon.com, Inc.Close $253.79EOD only
Max Pain
$255.00
Next expiry Jun 5, 2026
Expected Move
±$3.64
1.4% from close
Price Gap
+1.21
Distance to max pain
IV Rank
30
Middle-high premium
P/C OI
0.64
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 4, 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 4, 2026 close
AMZN Earnings Report
Analysis based on market close June 5, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMZN 55 days from earnings, macro selloff elevated IV, gamma pinning at $255.

Confidence:
5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 3.5% from MP; +0.5 VIX 22
Most important: Spot below MP ($255) with heavy call OI; watch for pinning and macro recovery.
📉Elevated put skew (IV 52%+ on deep OTM puts) signals strong downside hedging.
📍Max pain at $255 with heavy call OI; pinning possible ahead of expiry.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Below

Earnings Overview

Next earnings: 2026-07-30 (55 days)explicit

Expected moves:

  • 2026-06-08 (3d): ±$5.29 (2.2%)
  • 2026-06-10 (5d): ±$8.12 (3.3%)
  • 2026-06-12 (7d): ±$9.62 (3.9%)

IV Setup

Term structure: Contango for short-dated expiries; near-term IV elevated (25-50%) due to macro selloff.

Crush estimate: Minimal near-term crush; earnings 55d away so no immediate IV contraction.

Skew: Put skew elevated; OTM puts IV >50%, calls ~25%, reflecting hedging demand.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Not available; beat rate 80% suggests consistent upside surprises.

Directional bias: Mild bullish bias historically; recent macro headwinds may weigh.

Key Levels

1EM guardrails: 2d $240.74/$251.32; 1w $237.90/$254.15
2Max pain pins: $255 (2026-06-05); $255 (2026-06-08); $255 (2026-06-10)

Flow Highlights

Heavy put buying at $230 (6/8) and $270 (6/10) with vol/OI >20x.

Bearish hedging or directional bets; tail risk protection.

Large call volume at $255 (6/8) with 13.6 vol/OI ratio, aligning with max pain.

Pinning/speculation at key level; call OI wall at $270+.

Strategies

Iron Condor
Sell 2026-06-26 $250.00/$245.00 put wing and $260.00/$265.00 call wing
Credit: $3.37-$4.12
Max loss: $0.88
Max gain: $4.12
BE: 245.88 / 264.12
Trigger: Monitor $240-$270; adjust if either wing tested. Close at 50% profit or before earnings.
Best for elevated IV and pinning; defined risk in range-bound expectation. Outranks long options due to lower cost and theta decay.
Outperforms: Sells wings around pin $255 to capture IV contraction and time decay.
Underperforms: Move outside short strikes invalidates range thesis.
Long Strangle
Buy 2026-08-21 $230.00 put + buy $280.00 call
Debit: $13.84-$16.91
Max loss: $16.91
Max gain: Unlimited
BE: 213.09 / 296.91
Trigger: Set profit target 50-100%; stop loss if IV drops. Roll if spot nears strikes.
Cheaper than straddle, still benefits from vol expansion if macro stabilizes. Outranks straddle due to lower risk.
Outperforms: OTM strangle positions for volatility spike without paying full premium.
Underperforms: Insufficient realized move reduces long-strangle edge.
Long Straddle
Buy 2026-08-21 $250.00 put + buy $250.00 call
Debit: $30.53-$37.32
Max loss: $37.32
Max gain: Unlimited
BE: 212.68 / 287.32
Trigger: Consider early exit if IV declines; hold through earnings if no pivot. Stop loss at 50% premium.
Captures max profit from large move, but expensive and high risk given pinning. Ranked last due to cost.
Outperforms: At-the-money straddle for directional move and vol expansion.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Macro selloff (QQQ -4.8%) could extend, pressuring AMZN below $240 support.
!Gamma pinning at $255 may limit upside but also trap price if macro worsens.
!Short-dated IV crush risk if market stabilizes; long-term IV elevated.

What to Watch

?Key levels: $255 pin, $250 resistance, $240 support.
?Macro: SPY/QQQ recovery or further decline.
?VIX trajectory; if VIX falls, IV may compress.
How to Use These Reports
This earnings reflects the market close on June 5, 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.