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AMZN

Amazon.com, Inc.Close $256.52EOD only

Max Pain

$262.50

Next expiry Jun 3, 2026

Expected Move

±$3.85

1.5% from close

Price Gap

+5.98

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.63

Slightly call-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: Jun 2, 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 2, 2026 close

AMZN Flow Report

Analysis based on market close April 15, 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 15, 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 alignment (pinning consolidated); -0.5 spot 3.5% from MP; +0.5 VIX 18; override: deterministic confidence base (7.0) reflects consolidated GEX contribution and observed flow.

Watch next session: Whether call premium persists at the $250 strike and additional buying shows in the 4/24 and 5/01 expiries; Price action vs the 2d EM band ($243.43 - $253.57)

Flow Summary

Net premium: +$231.1M bullish

P/C volume ratio: 0.42

P/C OI ratio: 0.59

Flow is call-leaning but with large front-week put expiry activity creating two-way pinning. Net premium and concentrated call buys at $250, $230 and $260 indicate institutional upside accumulation, while very large same-day put volume at $245/$250 (expiry mechanics) signals sizable expiry hedging that enhances short-term pin behavior around $245-$250.

Notable Prints

AMZN260415C00250000

Vol: 102,445

OI: 7,745

Vol/OI: 13.2x

IV: 6.3%

Notional: ~$102K

Intent: Expiry-driven activity around the $250 pin

Dual read: Could be aggressive call buys (directional) or large-scale assignment/close-outs at expiry (pin-management). Last price $0.01 and IV 6.3% suggests many contracts were near-zero at trade, so part is expiry mechanics rather than fresh multi-day long exposure.

Read-through: Reinforces immediate pin risk at $250; if spot holds >$250 into next session it looks like dealers will be forced to hedge into further upside which supports bullish continuation.

AMZN260415P00245000

Vol: 17,814

OI: 5,795

Vol/OI: 3.1x

IV: 12.9%

Notional: ~$178K

Intent: Material front-week put flow at $245 into expiry

Dual read: Last $0.01 and large volume points to heavy expiry mechanics (pin-management and closing of short-dated positions) rather than a pure new bearish position, but the sheer size makes it influential on immediate dealer hedging.

Read-through: Significantly increases two-way pinning around $245-$250; dealers will hedge both sides into expiry, reducing short-term directional conviction and amplifying pin/gravity unless follow-through in longer-dated expiries occurs.

AMZN260501C00285000

Vol: 3,113

OI: 342

Vol/OI: 9.1x

IV: 47.6%

Notional: ~$374K

Intent: Long-dated directional call accumulation (5/01 $285 calls).

Dual read: May be calendar/spread leg (buying calls to pair with front-week selling) but vol/OI suggests genuine bullish positioning.

Read-through: Supports multi-week bullish exposure; dealer hedging could add supportive flow on rallies into May.

AMZN260417P00245000

Vol: 15,891

OI: 3,203

Vol/OI: 5.0x

IV: 28.4%

Notional: ~$1.8M

Intent: Tactical protective put buying for the 4/17 expiry at $245.

Dual read: Could be hedge overlay for option sellers rather than directional bearish bets, but volume is large for 2d puts and signals buyer intent.

Read-through: If followed by additional buying tomorrow it would cap immediate upside; absent follow-through, it could be one-off expiry hedging.

AMZN260501P00245000

Vol: 1,237

OI: 248

Vol/OI: 5.0x

IV: 46.2%

Notional: ~$971K

Intent: Medium-dated protective put buying at $245 for 5/01

Dual read: Could be a collar leg to newly opened calls, but standalone reads as downside insurance into late-April/early-May.

Read-through: Indicates buyers are willing to pay to protect below the $245-$240 area, reinforcing that band as tactical support.

AMZN260415P00250000

Vol: 9,823

OI: 2,058

Vol/OI: 4.8x

IV: 14.7%

Notional: ~$1.5M

Intent: Expiration put activity (ITM $250 put) representing front-week protective/closing activity or roll hedging.

Dual read: Could represent protective puts being bought by longs, but vol/OI and last price point to front-week hedges traded alongside call activity.

Read-through: Combined with heavy call expiry flow, this suggests two-way pinning near $250 rather than a pure directional liquidation; dealers will delta-hedge, supporting pin/gravitational behavior.

Institutional Positioning

Call additions: $250, $230, $260 and $280 strikes across near-term and May expiries

Put additions: Very large front-week put activity at $245/$250 (4/15 and 4/17) plus medium-dated $245 puts for 5/01 and 5/22; longer-dated structural protection resides near the $200 floor. Puts exist primarily as protection while calls dominate fresh premium flows.

GEX/DEX consistency: Yes Call-heavy premium and large GEX (+$413.7M) align; consolidated GEX contribution explains pinning behavior and dealer hedging that compresses price into the $245-$255 band.

OI clusters: Largest call OI clusters remain at $275-$300 (structural walls) with near-term concentration around $250 and $260; put OI concentrates at $200 and scattered 190-230 strikes. Heavy expiry OI/volume at $245-$250 creates a strong short-term magnet.

Hedging evidence: Clear: front-week high-volume puts and calls (4/15/4/17) are expiry-hedging and roll mechanics; medium-dated $245 puts and long-dated $200 puts show institutions are layering downside insurance beneath accumulated call exposure.

Max pain context: Max pain pins are near $240 (today) and $220 (4/17) but MP trend is rising. With spot above MP and dealers net long GEX, positioning references the $240-$250 pin zone as the active battleground.

Signal vs Noise

~AMZN260415C00250000 and other same-day prints: large volume likely contains expiry mechanics (assignment/close) and internal exchange/clearing flows — interpret as pin-management rather than fresh large multi-day bullish conviction alone.

~Front-week paired put/call activity (4/15–4/17) looks like expiration rolls/hedge adjustments; treat these as short-term hedging rather than directional re-rate unless follow-through volume persists.

~Very small last prints and low IV on some expiry contracts (e.g., last $0.01 for the 4/15 $250 call) indicate mechanical expiration execution or closes — do not treat each as a fresh directional buy without corroborating open interest increases in longer expiries.

~Some elevated far-dated IV (e.g., 5/01 calls/puts) could reflect calendar construction (spreads) rather than simple directional bets — check for opposing leg flow in the near term to rule out structured trades.

Key Conclusions

🐂Net flow is bullish and concentrated at $250 and nearby strikes; dealers' positive GEX (+$413.7M) supports pinning and creates a gravitational bias around $245-$255.

🧭Near-term support band to watch: $240.00 and $228.62 (deterministic supports). Resistance to respect: $250.00, $260.00, $268.38 — the $250 pin is the immediate level that will validate or stall upside.

⚠️Large same-day expiry prints are mixed signal/noise — treat 4/15 flows as pin-management and focus on follow-through in longer expiries (4/24, 5/01) for true directional conviction.

How to Use These Reports

This flow reflects the market close on April 15, 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.