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AMZN

Amazon.com, Inc.Close $234.11EOD only
Max Pain
$235.00
Next expiry Jun 24, 2026
Expected Move
±$3.69
1.6% from close
Price Gap
+0.89
Distance to max pain
IV Rank
8
Low premium
P/C OI
0.63
Slightly call-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Jun 23, 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 23, 2026 close
AMZN Earnings Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AMZN earnings 36d out; 80% beat rate but mixed flow and near max pain. IV not fully priced.

Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.3% from MP; +0.5 VIX 19
Most important: Max pain pinning $235-$238; call wall $250+ caps upside. Unusual put activity suggests hedging.
🛡️Unusual put buying at $237.5 and $240 shows hedging.
🧱Call OI wall at $250-$350 may cap upside.
📈80% historical beat rate but stock near max pain.

Regime Classification

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

Earnings Overview

Next earnings: 2026-07-30 (36 days)explicit

Expected moves:

  • 2026-06-26 (2d): ±$5.81 (2.5%)
  • 2026-06-29 (5d): ±$6.84 (2.9%)
  • 2026-07-01 (7d): ±$9.00 (3.8%)

IV Setup

Term structure: Steep contango: 2d ±2.5%, 5d ±2.9%, 7d ±3.8%.

Crush estimate: ~50% IV crush post-earnings based on implied move vs historical.

Skew: Put skew elevated near-dated, reflecting hedging demand.

Historical Context

Beat rate: 80% (4/5 quarters)

Avg move vs expected: Historical avg move ~2.8% vs 7d implied 3.8%, modest overpricing.

Directional bias: Slight bullish bias (80% beat rate) but post-earnings moves mixed.

Key Levels

1EM guardrails: 2d $228.46/$240.08; 1w $227.43/$241.11
2Max pain pins: $235 (2026-06-24); $238 (2026-06-26); $235 (2026-06-29)

Flow Highlights

Heavy put buying at $237.5 (85x OI) and $240 (83x OI) expiring 6/24.

Hedging or bearish positioning near current levels.

Large call buying at $242.5 (22x OI) and $240 (10x OI) expiring 6/24.

Speculative upside bets, but OI low; mixed sentiment.

Strategies

Iron Condor
Sell 2026-08-21 $230.00/$220.00 put wing and $250.00/$255.00 call wing
Credit: $4.86-$5.94
Max loss: $4.06
Max gain: $5.94
BE: 224.06 / 255.94
Trigger: Close at 50% max gain or adjust if $250 breached.
Captures IV crush and range-bound move near max pain.
Outperforms: Sells wings at 7d implied move boundaries with 50% crush edge.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar
Sell 2026-07-10 $250.00 call / buy 2026-08-21 $250.00 call
Debit: $6.32-$7.72
Max loss: $7.72
Max gain: Variable
BE: Path-dependent
Trigger: Monitor $250 call wall; exit if underlying breaks above.
Premium decay play; front-month elevated IV vs back-month.
Outperforms: Sells near-term call before earnings, buys longer-dated.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Max pain $235 may pin price.
!Call OI wall $250-$350 caps upside.
!Mixed flow and negative net premium suggest uncertainty.
!VIX 18.6 – moderate fear, not extreme.

What to Watch

?Price action around max pain $235-$238.
?Put/call volume ratio shifts.
?Unusual option activity as earnings approach.
?Broader tech (QQQ) and VIX direction.
How to Use These Reports
This earnings reflects the market close on June 24, 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.