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AMZN

Amazon.com, Inc.Close $270.64EOD only

Max Pain

$265.00

Next expiry Jun 1, 2026

Expected Move

±$3.83

1.4% from close

Price Gap

-5.64

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.57

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 29, 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 29, 2026 close

AMZN Flow Report

Analysis based on market close April 13, 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 13, 2026. A newer flow report is available for May 26, 2026.

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Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.2% from MP; +0.5 VIX 19

Watch next session: Follow volumes and OI change at $240/$245 calls (pin-level) — continued add would confirm dealer pinning; Watch put flow and OI at $232-$235 (exp 4/15) — a surge would shift bias toward downside

Flow Summary

Net premium: +$498.7M bullish

P/C volume ratio: 0.51 — call-dominant

P/C OI ratio: 0.60 — moderate call lean in positioning

Large, concentrated call premium and heavy call volume around near-term strikes (notably $240-$250) is driving a bullish flow. Dealers show strong positive GEX ($+571.4M) which supports pinning behavior around $240; puts are present but smaller in premium and OI, indicating protective rather than directional large-scale hedging.

Notable Prints

AMZN 2026-04-13 $240 Call

Vol: 84,579

OI: 8,114

Vol/OI: 10.4x

IV: 3.0%

Notional: ~$676.6K (84,579 * $0.08 * 100)

Intent: Expiration-related call accumulation / closing pin activity (dealer pinning or buyers chasing the pin)

Dual read: Aggressive directional call buying (bullish) OR market-maker/closing activity tied to expiring structures (neutral to mechanical)

Read-through: Extreme same-day call volume at-the-money reinforces the pin at $240 and is consistent with the pre-computed GEX concentration (+$196.6M at $240); supports short-term bullish/pinning regime rather than a conviction breakout.

AMZN 2026-04-13 $240 Put (ITM)

Vol: 8,766

OI: 838

Vol/OI: 10.5x

IV: 7.2%

Notional: ~$219.2K (8,766 * $0.25 * 100)

Intent: Protective/expiration-driven activity (ITM puts same strike as heavy call flow)

Dual read: Protective put buying (hedge) OR part of complex expirations (e.g., conversions, pin-protection) with neutral net directional effect

Read-through: Paired heavy activity in both calls and puts at $240 same day indicates expiration pin mechanics and dealer hedging rather than a pure new directional conviction.

AMZN 2026-04-15 $235 Put (OTM)

Vol: 7,272

OI: 714

Vol/OI: 10.2x

IV: 28.5%

Notional: ~$5.1M (approx. premium flow shows $3.88M puts at $240/$235 cluster; per-last price $0.70 => 7,272 * $0.70 *100 ≈ $509K on this print alone; but premium flow aggregates larger)

Intent: Short-dated put buying — looks like protective purchases ahead of near-term expirations or tactical hedge

Dual read: Directional hedge (buyers protecting long stock) OR speculative short-dated downside bet (if more puts continue to accumulate)

Read-through: Significant put volume at $235 (exp 4/15) is the primary downside focal point to watch — if OI builds it could counter the bullish pin; currently OI still modest vs call clusters.

AMZN 2026-04-20 $250 Call

Vol: 2,050

OI: 452

Vol/OI: 4.5x

IV: 27.9%

Notional: ~$158K (2,050 * $0.77 * 100)

Intent: Fresh directional call buying targeting a move above the $246-$250 band into next-week EM

Dual read: Bullish directional purchase OR opening of a vertical leg where the short leg is elsewhere

Read-through: Adds a slightly longer-dated bullish tilt beyond immediate pin — suggests some participants betting on continuation above current near-term range.

AMZN 2026-04-13 $235 Put (OTM)

Vol: 29,375

OI: 6,426

Vol/OI: 4.6x

IV: 17.6%

Notional: ~$881K (29,375 * $0.03 * 100)

Intent: High-volume near-expiry put activity — likely expiration rolls or liquidation of short positions given low last price

Dual read: Either aggressive defensive buying (if buys are net) or sellers closing/rolling positions (if sells are net)

Read-through: Large absolute volume but small last-premium implies mechanical expiry activity; treat as mixed signal unless OI rises materially.

Institutional Positioning

Call additions: Concentrated call premium and flows across strikes: heavy premium aggregated at $190 and $220 ($154.6M and $115.4M call premium respectively) and strong near-term call premium at $240/$250 ($33.15M and $37.31M). Top OI clusters shown at $275/$300/$250 and near-term OI clusters at $245/$240 indicate institutions are net adding call exposure across short and longer expirations.

Put additions: Smaller, tactical put activity concentrated at near-term strikes $235, $232.50, $215 and some protective interest at $230; overall put premium is much smaller (P/C volume ratio 0.51 and P/C OI 0.60) suggesting puts are more hedges than directional large-scale positioning.

GEX/DEX consistency: Yes — positive Total GEX $571.4M and concentrated GEX at $240 (+$196.6M) align with bullish/pinning flow; dealer positioning (DEX +151.0M shares) supports buy-side delta exposure that dealers need to hedge by selling into gains or buying into weakness around the pin.

OI clusters: Largest OI clusters sit in calls between $250-$300 (structural call wall $260-$300) with near-term call OI clusters at $245 (9,726) and $240 (8,114). Put clusters are smaller: $235 (6,426), $217.50 (5,991), $215 (4,559). These create a short-term pin around $240-$245 and a medium-term resistance wall in $260-$300.

Hedging evidence: Some protective short-dated puts (notably $235/$232.50) and a handful of ITM expiries — but no broad-scale collar activity visible. The structure reads as defensive puts amid aggressive call accumulation (i.e., institutions adding calls while buying limited protection).

Max pain context: Max pain now near-term $232.50 (4/13) and moving higher across expirations (trend rising toward ~$245). Spot is above MP and the pre-computed MP trend (rising) fits the call-dominant flow and dealer pinning at $240.

Signal vs Noise

~Large same-day ($240 exp 4/13) call and put prints likely include expiration mechanics (pinning, flows to/from expiring structures) — interpret with caution as they can be mechanical rather than fresh directional conviction.

~Very low last-price trades (e.g., $235 4/13 puts at $0.03) show huge volume but are likely expiration rolls or option-to-equity conversions; they produce misleading vol/OI ratios if treated as pure buys.

~High activity in near-zero IV calls (ATM same-day IVs 3–7%) suggests closing/assignment activity by market participants and market makers adjusting gamma — not necessarily new directional risk appetite.

~Some medium-dated call volume (e.g., 4/20 $250) looks like genuine directional buying and less like noise; differentiate by watching OI builds rather than single-session volumes.

Key Conclusions

🐂Net premium strongly bullish: +$498.7M with P/C vol 0.51 and P/C OI 0.60 — calls dominate both flow and positioning.

📍Pin around $240: GEX concentration +$196.6M at $240 and massive same-day ATM activity confirm dealer pinning behavior.

🧭Key supports: $235.00, $240.00, $232.50 (near-term put OI and GEX pinning provide buying pressure inside next-week EM bounds).

⛔Watch $232-$235 put flow (exp 4/15): sustained OI build there would undercut the bullish thesis.

🧾Much of today's extreme vol/OI ratios are expiration-driven — separate mechanical expiry flows from true directional positioning by tracking OI changes into tomorrow.

🚧Structural call wall at $260-$300 remains a medium-term resistance area; institutions hold concentrated call OI there that can slow rallies above the 1–2 week expected move.

How to Use These Reports

This flow reflects the market close on April 13, 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.