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AMZN

Amazon.com, Inc.Close $270.13EOD only
Max Pain
$235.00
Next expiry May 15, 2026
Expected Move
±$5.46
2.0% from close
Price Gap
-35.13
Distance to max pain
IV Rank
63
High premium
P/C OI
0.59
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: May 13, 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 13, 2026 close
AMZN Theta Report
Analysis based on market close May 14, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short call spreads or put credit spreads around support/resistance
Invalidation: Breach of $254.6 support or $280 resistance
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 13.7% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
IV 38.5% vs VIX 17.3 — elevated
Favorable?
Yes

Term structure: Front-end elevated, back-end normal

📈IV elevated relative to VIX, favorable for premium selling

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+326.2M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,795 (25.2% below spot)

OI concentrations: Put OI wall at $200, Call OI wall $300-$370. Max pain pins at $235, $265, $268

Verdict: Spot above nearest max pain ($268), reducing severe pin risk, but gamma flip at $200 may accelerate selloff if breached

Premium Opportunities

#1
Call credit spread
Sell 2026-05-22 $275.00/$277.50 call spread
Sells call spread above resistance to profit from mean reversion.
Credit: $0.52-$0.63
Max loss: $1.87
BE: $275.63
Mgmt: Close if spot exceeds $275 or IV contracts sharply.
#2
Put credit spread
Sell 2026-05-22 $255.00/$252.50 put spread
Sells put spread below support to capture theta with buffer.
Credit: $0.25-$0.31
Max loss: $2.19
BE: $254.69
Mgmt: Exit if spot approaches $254.6 or volatility spikes.
#3
Iron condor
Sell 2026-05-22 $255.00/$252.50 put wing and $275.00/$277.50 call wing
Neutral strategy selling both call and put spreads.
Credit: $0.77-$0.94
Max loss: $1.56
BE: 254.06 / 275.94
Mgmt: Adjust wings if spot breaches $255 or $275.

Risk Alerts

!Spot 13.7% above max pain, watch for mean reversion
!Gamma flip at $200 could accelerate selloff
!High call OI wall at $300-$370 may cap upside
How to Use These Reports
This theta reflects the market close on May 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.