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AMZN

Amazon.com, Inc.Close $268.46EOD only
Max Pain
$260.00
Next expiry May 22, 2026
Expected Move
±$3.56
1.3% from close
Price Gap
-8.46
Distance to max pain
IV Rank
16
Low premium
P/C OI
0.58
Slightly call-heavy
Consensus
9.0/10
Bullish tilt
Published snapshot: May 21, 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 21, 2026 close
AMZN Theta Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Credit spreads
Invalidation: Spot closes below $260 or GEX turns negative
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.3% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 36% vs VIX 17: rich premiums
Favorable?
Yes

Term structure: Front-end dip then rise; slight inversion 1d-5d

📈IV rich vs VIX: attractive for sellers
⚠️Short-term IV dip may signal low demand

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+389.3M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,873 (25.5% below spot)

OI concentrations: Max pain $260-$262; put OI heavy at $200

Verdict: Pinning likely near $260; short premium risky due to pin

Premium Opportunities

#1
Put credit spread
Sell 2026-06-12 $260.00/$255.00 put spread
Sells $260 put, buys $255 put, net credit with high IV.
Credit: $1.11-$1.36
Max loss: $3.64
BE: $258.64
Mgmt: Exit at 50% profit or if spot nears $260.
#2
Cash-secured put
Sell 2026-06-12 $260.00 cash-secured put
Sells $260 put, obligated to buy shares; premium $4.21 cushion.
Credit: $3.44-$4.21
Max loss: $255.79
BE: $255.79
Mgmt: Roll if tested or accept assignment; monitor pin risk.

Risk Alerts

!Spot 3.3% above max pain: elevated pin risk
!VIX 17 low, IV rich: premium selling may face vol expansion
How to Use These Reports
This theta reflects the market close on May 21, 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.