thetaOwl
HomeOptionsAMZNReports

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 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Conservative
Primary: Favor short premium on longer-dated options
Invalidation: Spot closes below $262 max pain
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.5% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 35.6% vs VIX 16.7 (2.1x)
Favorable?
Yes

Term structure: Upward sloping; 0DTE ATM IV 7.7%, 1w+ IV >24%

💹IV at 2.1x VIX, rich premiums
⚠️Expiration day pin risk at $262

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+364.2M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 31,870 (24.9% below spot)

OI concentrations: Max pain $262; Call wall $290-$370; Put floor $200

Verdict: Spot above $262; high pin risk on expiration

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $245.00/$240.00 put spread
Sell $245/$240 put spread, collect $1.07 credit, risk $3.93.
Credit: $0.88-$1.07
Max loss: $3.93
BE: $243.93
Mgmt: Monitor spot near $262 pin; adjust if below $250.
#2
Iron condor
Sell 2026-07-17 $245.00/$235.00 put wing and $300.00/$310.00 call wing
Sell $245/$235 put wing and $300/$310 call wing, collect $2.94.
Credit: $2.41-$2.94
Max loss: $7.06
BE: 242.06 / 302.94
Mgmt: Manage call side if spot above $290; monitor pin at $262.

Risk Alerts

!Expiration day: increased gamma and assignment risk
!Potential pin towards $262 if spot weakens
!Call IV spike suggests upside skew; monitor for reversal
How to Use These Reports
This theta reflects the market close on May 22, 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.