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AMZN

Amazon.com, Inc.Close $265.29EOD only

Max Pain

$265.00

Next expiry May 27, 2026

Expected Move

±$2.96

1.1% from close

Price Gap

-0.29

Distance to max pain

IV Rank

Low premium

P/C OI

0.58

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 26, 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 26, 2026 close

AMZN Flow Report

Analysis based on market close April 8, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 8, 2026. A newer flow report is available for May 26, 2026.

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Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.6% from MP

Watch next session: Large change in volume/OI at $220 put or $222.50 call (intra-day build or liquidation); New call buying or OI buildup inside the $235-$250 call wall

Flow Summary

Net premium: +$134.9M bullish

P/C volume ratio: 0.57 — call-dominant (call flow > put flow today)

P/C OI ratio: 0.59 — moderate call lean in positioning

Broadly bullish flow: sizeable net premium ($134.9M) and a call-dominant P/C volume ratio (0.57) point to directional call demand. Dealers are long gamma (GEX +$386.4M), creating pinning behavior around near-term strikes ($220/$217.50/$222.50), while large structural call OI from $235–$300 remains a longer-term resistance band.

Notable Prints

AMZN 2026-04-10 $220 Put

Vol: 19,210

OI: 305

Vol/OI: 63.0x

IV: 33.0%

Notional: ~$3.01M

Intent: Protective put buying / short-dated hedge ahead of close-week expiry

Dual read: Buyer of puts (directional hedge/bearish) OR seller capturing premium (market-making) — but high vol/OI favors fresh buying

Read-through: Concentrated short-dated put demand 1% below spot increases dealer delta hedging that supports spot into expiry and reinforces the documented pin at $220

AMZN 2026-04-10 $215 Put

Vol: 20,776

OI: 685

Vol/OI: 30.3x

IV: 38.2%

Notional: ~$1.06M

Intent: Protective/defensive hedges — short-dated downside protection several dollars below spot

Dual read: Likely buy-to-open protective puts (hedge) OR taking liquidity on a roll; skewed IV suggests hedging demand

Read-through: Adds to short-dated downside insurance; contributes to dealer pinning/buying flow between $215–$220

AMZN 2026-04-10 $225 Put

Vol: 6,110

OI: 189

Vol/OI: 32.3x

IV: 30.2%

Notional: ~$2.64M

Intent: ITM put activity consistent with hedging/rolls or sized institutional protection

Dual read: Could be protective/income trades (sold calls with bought puts) or straight put buys; elevated notional and ITM status suggest real protection

Read-through: ITM put flow around $225 is supportive of short-dated downside protection but also creates dealer hedging that stabilizes price near $222–$225

AMZN 2026-04-10 $217.50 Put

Vol: 7,908

OI: 306

Vol/OI: 25.8x

IV: 35.4%

Notional: ~$0.70M

Intent: Short-dated hedges/insurance clustered just below spot

Dual read: Fresh put buying or closing of previous short puts; given cluster, reads as additional hedging

Read-through: Reinforces near-term support band and dealer pinning at $217.50–$220

AMZN 2026-04-13 $225 Call

Vol: 6,933

OI: 612

Vol/OI: 11.3x

IV: 27.3%

Notional: ~$0.91M

Intent: Directional call buying or spread leg (bullish continuation into next weekly)

Dual read: Fresh call buys (bullish) or sellers looking to roll upside exposure (neutral); lower IV implies cheaper calls bought for directional exposure

Read-through: Some call demand into the next weekly confirming bullish tilt, but size is moderate compared with the large structural call OI further out

Institutional Positioning

Call additions: $250 and higher concentrated (structural call OI at $250/$275/$300) and net premium flows show buying at $250 and $220/$210 strikes in near-term

Put additions: Short-dated puts concentrated at $220, $217.50, $215 (multiple large vols) — looks like protective/expiry hedging rather than long-dated directional put accumulation

GEX/DEX consistency: Yes — positive GEX (+$386.4M) and DEX (+125.0M shares) align with bullish flow and near-term pinning around $220/$217.50

OI clusters: Near-term OI clusters: calls at $220 (20,076 OI), $217.50 (18,737 OI), $225 (13,853 OI); puts concentrated at $190, $202.50, $205 but recent volume focused on $215/$220 area — larger structural call wall sits at $235–$300

Hedging evidence: Clear evidence of short-dated hedges (protective puts at $220/$217.50/$215). Minimal signs of broad-scale collars, more one-way put protection into April expiries.

Max pain context: Max pain near-term sits at $207.50–$210 but MP is 'Above' spot trend and MP across expiries is rising; dealers' positive GEX suggests pinning near $220 despite MP being lower

Signal vs Noise

~Concentrated volume in the 4/10 expiries (Apr 10) looks like expiry-centric hedging/rolls — not necessarily a fresh multi-week bearish bet

~High vol/OI at $220 and $215 puts consistent with short-dated protective buys ahead of expiry (dividend not listed) — common expiration hedging noise

~Large structural call OI at $235-$300 is longer-term positioning and acts as resistance; today's short-dated put flow is more likely hedging than a repositioning of that long-call base

~Dealer gamma pinning explains stickiness around $217.50–$222.50; not all put prints imply directional bearish conviction

Key Conclusions

🐂Net premium +$134.9M and P/C volume 0.57 show clear call-dominant flow today, aligning with a bullish tape.

📌Near-term dealer pinning concentrated at $220, $217.50 and $222.50 (GEX clusters) — expect chop around these levels into Apr 10 expiry.

🛡️Significant short-dated put buying (4/10 strikes $220/$215/$217.50) looks like protective hedging — this actually supports USD buying from dealers as they hedge, reducing downside volatility.

⛔Structural call OI wall at $235–$300 remains a multi-week resistance band; any rally will likely slow in that area unless call OI is lifted.

👀Watch $220 put volume/OI and any fresh buildup at $235 calls — those moves will confirm continuation or risk of resistance flip.

How to Use These Reports

This flow reflects the market close on April 8, 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.