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AMZN

Amazon.com, Inc.Close $238.55EOD only
Max Pain
$240.00
Next expiry Jun 15, 2026
Expected Move
±$4.50
1.9% from close
Price Gap
+1.45
Distance to max pain
IV Rank
52
Middle-high premium
P/C OI
0.65
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 12, 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 12, 2026 close
AMZN Earnings Report
Analysis based on market close June 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMZN 45 days out from earnings, bullish regime with heavy call buying. Max pain shifts down from $238 to $225 by 6/18, but call wall at $260. Unusual put volume on 6/15 may be hedging.

Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.6% from MP; +1 VIX 16
Most important: Heavy 6/15 put activity at $245 and $247.5 suggests short-term downside hedging despite bullish flow.
⚡6/15 $245 put volume 168x OI: unusual hedging or directional bet.
📈6/17 call buying at $252.5 and $260 shows bullish conviction.

Regime Classification

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

Earnings Overview

Next earnings: 2026-07-30 (45 days)explicit

Expected moves:

  • 2026-06-17 (2d): ±$5.14 (2.1%)
  • 2026-06-18 (3d): ±$6.34 (2.6%)
  • 2026-06-22 (7d): ±$7.48 (3.0%)

IV Setup

Term structure: Short-dated near 30% IV, earnings-dated ~35% IV, backwardation.

Crush estimate: Earnings IV crush ~10-15 pts post-7/30.

Skew: Put skew elevated on 6/17 due to $260 put activity.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Beat rate 80%, moves often match implied.

Directional bias: Slightly bullish bias post-earnings.

Key Levels

1EM guardrails: 2d $240.89/$251.16; 1w $238.54/$253.51
2Max pain pins: $238 (2026-06-15); $240 (2026-06-17); $225 (2026-06-18)

Flow Highlights

Massive 6/15 $245 put volume (46.8k vs OI 278)

Likely hedging or bearish bet, may pin spot near $245.

6/17 $252.5 and $260 calls active

Bullish sentiment on near-term upside.

Strategies

Bull Call Spread
Buy 2026-08-21 $245.00/$260.00 call spread
Debit: $5.74-$7.01
Max loss: $7.01
Max gain: $7.99
BE: $252.01
Trigger: Exit if stock closes below 237.5 invalidation; take profit near $260 or before earnings.
Heavy call buying and bullish IV skew support upside; best directional play with defined risk.
Outperforms: Long 245 call, short 260 call to capture upside up to $260 while reducing cost.
Underperforms: Loss of support weakens upside continuation thesis.
Iron Condor
Sell 2026-07-24 $240.00/$235.00 put wing and $260.00/$265.00 call wing
Credit: $2.70-$3.30
Max loss: $1.70
Max gain: $3.30
BE: 236.70 / 263.30
Trigger: Close if stock breaks beyond 235 or 265; monitor near max pain.
Range-bound between support 240 and resistance 260; theta decay and IV crush favor this non-directional play.
Outperforms: Sell put spread 240/235 and call spread 260/265 to collect credit.
Underperforms: Move outside short strikes invalidates range thesis.
Long Strangle
Buy 2026-08-21 $240.00 put + buy $250.00 call
Debit: $22.73-$27.78
Max loss: $27.78
Max gain: Unlimited
BE: 212.22 / 277.78
Trigger: Consider exiting before earnings to avoid IV crush; take partial profits on a strong move.
High IV and potential large move; lower cost than straddle but still captures outsize move.
Outperforms: Buy 240 put and 250 call to profit from a strong break in either direction.
Underperforms: Insufficient realized move reduces long-strangle edge.
Long straddle
Buy 2026-08-21 $245.00 put + buy $245.00 call
Debit: $26.95-$32.95
Max loss: $32.95
Max gain: Unlimited
BE: 212.05 / 277.95
High IV and potential 10-15 pt crush post-earnings; but symmetric payoff.
Outperforms: Buy volatility on earnings catalyst; captures large move.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Spot above $238 max pain today, could drift lower to $240 zone by 6/17.
!Call wall at $260 $350 caps upside momentum.
!Unusual put imbalances may indicate institutional hedging.

What to Watch

?Price action near $240 (6/17 max pain) and $250 resistance.
?Volume in 6/17 $245 put and $252.5 call.
?Any gamma flip from put OI build up.
How to Use These Reports
This earnings reflects the market close on June 15, 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.