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AMZN

Amazon.com, Inc.Close $250.56EOD only

Max Pain

$240.00

Next expiry Apr 20, 2026

Expected Move

±$4.03

1.6% from close

Price Gap

-10.56

Distance to max pain

IV Rank

100

High premium

P/C OI

0.59

Slightly call-heavy

Consensus

6.0/10

Neutral tilt

Published snapshot: Apr 17, 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

Apr 17, 2026 close

AMZN Flow Report

Analysis based on market close April 10, 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 10, 2026. A newer flow report is available for April 17, 2026.

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Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 12.2% from MP

Watch next session: Rate of call net premium into $240–$250 (watch net premium at $250 strike); Any renewed short-dated put buying at $235–$245 (esp. expiries 4/13–4/17)

Flow Summary

Net premium: +$349.5M bullish

P/C volume ratio: 0.44 — call-dominant (strong flow skew to calls)

P/C OI ratio: 0.59 — moderate call lean in positioning (OI supports call bias)

Heavy call-dominant premium and a large positive dealer GEX (+$361.9M) point to bullish institutional flow with pinning characteristics around $240. Flow is concentrated in the $235–$255 corridor (notably $240 and $250), while top structural call OI sits higher at $260–$300, creating a stretched call wall above spot.

Notable Prints

AMZN 2026-04-13 $235 Put

Vol: 24,030

OI: 330

Vol/OI: 72.8x

IV: 25.4%

Notional: ~$2.14M

Intent: Large short-dated put trade — dual read: could be directional bearish put buying (protective) or seller-initiated (liquidity for call buyers). Given call-heavy net premium, more likely short-dated put selling by dealers facilitating call demand, but needs confirmation.

Dual read: Bought (protective/bearish) or sold as part of structured flow (supporting call purchases)

Read-through: Extremely high vol/OI flags urgent risk transfer into the 4/13 expiry; if these were buys it would be bearish near-term, but context (overall call dominance, large call premium) suggests this may be put-selling/flow soak by dealers — watch delta/print sweep data next session.

AMZN 2026-04-15 $245 Call

Vol: 9,054

OI: 671

Vol/OI: 13.5x

IV: 28.0%

Notional: ~$760K

Intent: Directional call buying (fresh long calls or call spreads opening) concentrated into the 4/15 expiry.

Dual read: Could be buys (bullish) or openings for covered/synthetic structures, but net premium and P/C skew support bullish buy interpretation.

Read-through: Reinforces the call-lean concentrated in the 3–5 day window; supports short-term upside and dealer pinning at nearby strikes ($240–$245).

AMZN 2026-04-17 $240 Put

Vol: 4,195

OI: 697

Vol/OI: 6.0x

IV: 29.4%

Notional: ~$1.99M

Intent: Protective/hedge buying or put-heavy spread leg around $240; ITM put with meaningful size suggests tangible hedging demand or a roll into later expiries.

Dual read: Bought puts (protective) or part of two‑leg hedges/collars opened against larger call positions.

Read-through: Shows institutions are not complacent; while flow is bullish, there is active short-term downside protection clustered at the $240 neighborhood — consistent with pinning rather than runaway upside.

AMZN 2026-04-24 $230 Put

Vol: 5,313

OI: 522

Vol/OI: 10.2x

IV: 31.8%

Notional: ~$1.35M

Intent: Long-dated-ish put buying or protective collars for positions with medium-term risk control.

Dual read: Bought puts (protective) or structured purchase as part of a roll from nearer expiries; could also be directional bearish interest into late-April.

Read-through: Adds a defensive layer below spot at $230; not large enough to offset call skew but notable as a lower-bound insurance demand.

AMZN 2026-04-15 $250 Call

Vol: 5,078

OI: 279

Vol/OI: 18.2x

IV: 29.2%

Notional: ~$147K

Intent: Short-dated directional call buys/speculative positioning targeting a fast move to $250 into 4/15.

Dual read: Fresh long calls (bullish) or selling interest for overwriting; context favors buying.

Read-through: Small-dollar but high vol/OI suggests momentum-chasing or tactical upside targeting — watch delta prints for buy/sell aggressiveness.

Institutional Positioning

Call additions: $235–$255 calls concentrated in very near-dated expiries (notably $240 and $250) with significant premium flow at $250 (Net ~$73.84M) and large call OI clusters at $250, $275, $300.

Put additions: Protective activity at $240 and $230 (notable put volume at 4/17 $240 ITM and 4/24 $230), plus short-dated activity at $235 (4/13) that may be hedging or liquidity provision.

GEX/DEX consistency: Yes — positive GEX ($+361.9M) and DEX (+145.7M shares) align with bullish/pinning flow; GEX concentration (+$14.7M) centered on $240 supports a dealer-driven pin.

OI clusters: Large OI clusters create a call wall: $275 (205,676), $300 (139,024), $250 (multi-expiry entries: 123,652 and larger traded blocks). Near-term dealer pin cluster at $240 (7,027 OI) and puts clustered at $215–$225 on the downside.

Hedging evidence: Some short-dated protective put activity (4/17 $240 ITM, 4/17 $245 ITM) and medium-dated $230 puts indicate localized hedging; limited collar evidence but put buying coexists with heavy call accumulation — consistent with directional positions with insurance.

Max pain context: Max pain is below spot in the very near term ($212 on 4/10, rising to $225 on 4/13 and $220 on 4/15) but MP trend is rising across expiries; dealers appear to be pinning nearer-term expiries around $240 while structural MP evolves higher.

Signal vs Noise

~The 4/13 $235 put spike (vol/oi 72.8x) may be an expiration soak/roll or liquidity sweep rather than a pure directional bet — verify aggressor side before treating as bearish.

~Large structural call OI at $260–$300 is long-dated/structural and can reflect buy-and-hold or write/covered activity — not an immediate short-term breakout signal.

~Some high-volume near-term chain prints (e.g., heavy $240 call volume in chain) are consistent with dealer gamma hedging and market-maker inventory adjustments given the positive GEX; these can look directional in isolation but behave as pinning.

~Trades with elevated vol/OI but small notional (e.g., 4/15 $250C notional ~ $147K) are likely tactical/speculative rather than institutional-sized directional bets.

Key Conclusions

🐂Net premium +$349.5M and P/C vol 0.44 point to clear institutional call accumulation centered at $240–$250.

📌Dealer pinning concentrated at $240 (GEX +$14.7M at $240) makes $240 the near-term magnet — expect range-bound behavior unless prints shift materially.

🛡️Active short-dated protective put prints (4/17 $240 ITM and 4/13 $235 spike) show risk management — bullish positions are paired with insurance.

🔍The largest unusual put print (4/13 $235) is ambiguous — confirm aggressor side; if buys, it's short-term bearish; if sells, it likely funded call demand.

🚧Structural call OI wall at $275–$300 could cap large rallies; meaningful upside requires absorption of that call supply or roll activity.

How to Use These Reports

This flow reflects the market close on April 10, 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.