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AMZN

Amazon.com, Inc.Close $271.85EOD only

Max Pain

$260.00

Next expiry May 29, 2026

Expected Move

±$5.46

2.0% from close

Price Gap

-11.85

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 27, 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 27, 2026 close

AMZN Theta 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 theta report is available for May 26, 2026.

View latest report

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.5% from MP; +0.5 VIX 18

IV Environment

IV Regime

Normal

IV vs VIX

Avg IV 43.8% vs VIX 18.17 — equity-IV materially richer than market vol; near-term ATM IVs: 2026-04-17 ATM 28.1%, 2026-05-01 ATM 47.0%.

Favorable?

Yes

Term structure: Near-term (2–9d) IV is compressed (28.1%–30.3%) while the 16–37d window is rich (47.0% → 38.9%) — steep front-to-mid curve: good for selling multi-week premium and for calendars/diagonals.

💰High avg IV (43.8%) and heavy net premium flow (+$231.1M) favor sellers collecting theta.

📈Back-month vol (May 01 ATM 47.0%) is rich vs immediate weeklies — consider selling near-term vs buying back-month.

⚠️Very low 0d/2d ATM IV (10.5% / 28.1%) around expirations can make weeklies cheap; avoid naked through earnings.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+413.7M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 37,325 (19.5% below spot)

OI concentrations: Max pain $240.00; GEX concentration pins: +$49.1M at $250.00 (+0.6% from spot), +$22.1M at $245.00 (-1.4%), +$12.2M at $255.00 (+2.6%), +$9.7M at $240.00 (-3.4%). GEX sign: +$413.7M (positive, pinning). Largest OI: $275C (205,814), $300C (140,547), $250C (123,412); Put floor OI: $200 put (37,325).

Verdict: Favorable — strong positive GEX and concentrated magnets near $245–$250 create a pinning environment that supports defined-risk short-put structures; pinning helps credit positions but watch short call strikes and large call walls above $260.

Premium Opportunities

Risk Alerts

!Earnings on 2026-04-29 (14d) — avoid selling naked that crosses this date; prefer expirations that expire before earnings or defined-risk structures.

!Max pain/support at $240.00 — a decisive close below $240.00 invalidates bullish put-selling thesis and may accelerate downside despite positive GEX.

!Unusual activity: concentrated volume in short-dated $250 calls and $245 puts (see UA) — can create localized pin pressure or fast repricing; manage short call exposure near $250.

!GEX is large positive (+$413.7M) — while it pins now, a rapid flip in positioning or directional flow could unwind pinning and produce trend acceleration.

!IV term steepness: near-term cheap vs May rich — calendar/diagonal trades carry vega risk if back-month IV collapses unexpectedly.

!theta_opportunities_fixed_version_note

How to Use These Reports

This theta 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.