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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 14, 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 14, 2026. A newer flow report is available for May 26, 2026.

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Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.3% from MP; +0.5 VIX 18.4

Watch next session: New call OI or premium flow at $250-$255 (would reinforce pin expectation at $250); Short-dated put flow around $245-$250 (would signal increased protective demand and weaken bullish thesis)

Flow Summary

Net premium: +$813.3M bullish

P/C volume ratio: 0.32 — heavy call-dominant volume (unusually call-heavy)

P/C OI ratio: 0.59 — moderate call lean in positioning (calls > puts in OI)

Large, concentrated call buying across near-spot strikes (notably $250, $225, $260) is driving a strongly bullish flow regime. Dealers are long gamma (Total GEX +$414.9M), which supports pinning near $250 and compresses realized moves; short-dated unusual put prints look like protective hedges or expiration activity rather than a structural bearish flip.

Notable Prints

AMZN 2026-04-15 $245 Put

Vol: 24,359

OI: 115

Vol/OI: 211.8x

IV: 24.5%

Notional: ~$1.07M

Intent: Short-dated protective put buying / expiration hedge (buyers buying downside insurance into expiry)

Dual read: Could be aggressive directional short (put-sell) overlapped with complex structures, but IV low and 1d expiry makes protective buy most likely

Read-through: Short-dated demand for downside protection concentrated ~2% below spot — noise for longer-term directional read but increases dealer delta hedging near $245-$250 today.

AMZN 2026-05-08 $260 Call

Vol: 39,462

OI: 647

Vol/OI: 61.0x

IV: 44.6%

Notional: ~$28.0M

Intent: Fresh directional call buying (multi-week upside exposure into May)

Dual read: Could be long-call speculation or part of a buy-write/call-spread, but size and tenor favor directional bullish exposure

Read-through: Material bullish position with real notional (~$28M) — institutional-sized exposure adding to dealer positive GEX and reinforcing upside magneting toward $250-$260 band.

AMZN 2026-04-17 $250 Put

Vol: 11,760

OI: 243

Vol/OI: 48.4x

IV: 29.6%

Notional: ~$4.21M

Intent: Short-dated protective put accumulation / roll into near expiry (ITM by spot, looks like protection)

Dual read: Could be put buying (bearish) or closing/rolling of sold-put positions; timing suggests protective hedging ahead of expiry

Read-through: Adds transient hedging demand at-the-money — increases dealer hedging flows but not a durable directional reversal signal given dominant call premium flow.

AMZN 2026-04-15 $240 Put

Vol: 22,530

OI: 564

Vol/OI: 40.0x

IV: 30.1%

Notional: ~$225.3k

Intent: Expiration-focused put buying (cheap, further OTM protection into same expiry)

Dual read: Could be cheap speculative long puts or part of hedged structures; size small in notional so likely tactical hedge

Read-through: Reinforces short-dated downside insurance but limited notional — likely expiration-related hedging rather than shift in medium-term sentiment.

AMZN 2026-04-15 $255 Call

Vol: 17,615

OI: 558

Vol/OI: 31.6x

IV: 26.5%

Notional: ~$440.4k

Intent: Short-dated call buying (speculative push higher into expiry)

Dual read: Could be directional buy or opening leg of call spreads; delta modest so likely speculative/upside push

Read-through: Short-dated call demand complements larger multi-week call accumulation; supports pin/pressure above spot into $250-$255 region for expiry.

Institutional Positioning

Call additions: $225, $240, $245, $250, $255, $260 — heavy premium flow concentrated at $250 (Net premium $129.6M at $250) and notable premium at $225 and $260

Put additions: Short-dated puts concentrated at $245 and $250 (exp 4/15-4/17) — likely protective or expiration-related; larger structural put OI remains down around $200-$190 but outside near-term range

GEX/DEX consistency: Yes — Total GEX +$414.9M and DEX +167.9M shares align with bullish flow and pinning dynamics, increasing dealer delta buybacks as price rises toward $250

OI clusters: $275-$300 call wall (structural calls); near-term concentrated call OI at $230-$250 (notably $230 OI 38,706; $245 OI 24,144; $250 OI 23,770) which create pinning/friction in the $245-$250 area

Hedging evidence: Evidence of short-dated protective hedges: concentrated put volume at $245 and $250 into 4/15-4/17 expiries and smaller put OI at $240 — looks like expiration and risk-management hedging rather than systemic long-term protection

Max pain context: Max pain near-term is rising (MP at $230 then trending higher to $245 across expirations). Current spot is above MP, but heavy call premium and GEX concentration at $250 act as a pin magnet pushing realized price toward $250 in the short run.

Signal vs Noise

~Heavy prints in 2026-04-15 and 2026-04-17 expiries (e.g., $245P, $240P, $255C) are likely expiration hedges/rolls and not definitive medium-term directional signals.

~Some very high vol/oi ratios (e.g., 211x on the $245 4/15 put) reflect low OI bases and expiry concentration — read as tactical hedging rather than institutional directional flip.

~Large long-dated call flow (e.g., 5/08 $260) is directional; smaller short-dated put prints are likely protective and should not be overinterpreted as trend reversal.

Key Conclusions

🐂Net premium +$813.3M and P/C volume 0.32 indicate clear call dominance concentrated at $250-$260 strikes.

📌Dealers long gamma (Total GEX +$414.9M) creates a pinning bias into $245-$250 (GEX concentration +$49.4M at $250).

🛡️Short‑dated put prints at $245/$250 are likely protective/expiry hedges — they increase dealer hedging but don't overturn the bullish position flow.

⚖️Material institutional call notional in 5/08 $260 (~$28M) is a meaningful directional exposure adding to upside skew.

📈Key short-term levels: support concentrated at $250/$245/$240 (pin/GEX clusters); resistance from call walls at $265-$300 could create supply if AMZN approaches that band.

How to Use These Reports

This flow reflects the market close on April 14, 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.