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AMZN

Amazon.com, Inc.Close $259.34EOD only
Max Pain
$265.00
Next expiry May 20, 2026
Expected Move
±$3.68
1.4% from close
Price Gap
+5.66
Distance to max pain
IV Rank
6
Low premium
P/C OI
0.59
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: May 19, 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 19, 2026 close
AMZN Theta Report
Analysis based on market close May 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 15, 2026. A newer theta report is available for May 19, 2026.

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Theta Verdict

Attractiveness7.5 / 10
Sizing: Moderate
Primary: Neutral
Invalidation: Break below 253 or above 280
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 12.4% from MP; +0.5 VIX 18

IV Environment

IV Regime
Normal
IV vs VIX
IV 39% vs VIX 18.4, elevated.
Favorable?
Yes

Term structure: Steep upward slope, low near-term vol.

📈Positive dealer gamma $+324.8M supports pinning.
⚠️0DTE skew extreme (call IV 113%, put IV 134%), caution.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+324.8M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,783 (24.3% below spot)

OI concentrations: Max pain 235; call wall 280-370; put floor 200.

Verdict: Spot above max pain, positive gamma pinning; risk of upward drift.

Premium Opportunities

#1
Put credit spread
Sell 2026-06-18 $255.00/$250.00 put spread
Sell 255/250 put spread to earn premium while defining max loss.
Credit: $1.28-$1.57
Max loss: $3.43
BE: $253.43
Mgmt: Close at 50% profit or if spot breaks below invalidation level.
#2
Iron condor
Sell 2026-06-18 $250.00/$240.00 put wing and $280.00/$285.00 call wing
Sell 250/240 put wing and 280/285 call wing; benefits if price stays between 250-280.
Credit: $2.60-$3.18
Max loss: $6.82
BE: 246.82 / 283.18
Mgmt: Adjust wings if spot approaches strikes; exit early if IV collapses.
#3
Cash-secured put
Sell 2026-06-18 $250.00 cash-secured put
Sell 250 put to collect premium; willing to buy shares at strike.
Credit: $3.44-$4.21
Max loss: $245.79
BE: $245.79
Mgmt: Roll down if spot drops; buy back if spot rises significantly.

Risk Alerts

!Spot 12.4% above max pain
!Vix 18.4, IV 39% high
!0DTE skew extreme
How to Use These Reports
This theta reflects the market close on May 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.