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AMZN

Amazon.com, Inc.Close $246.03EOD only
Max Pain
$255.00
Next expiry Jun 8, 2026
Expected Move
±$5.29
2.1% from close
Price Gap
+8.97
Distance to max pain
IV Rank
51
Middle-high premium
P/C OI
0.64
Slightly call-heavy
Consensus
5.0/10
Range bias
Published snapshot: Jun 5, 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
Jun 5, 2026 close
AMZN Theta Report
Analysis based on market close June 8, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short Strangle
Invalidation: Break above $255 or below $233
Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.9% from MP; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
IV 40% vs VIX 19, elevated relative to VIX
Favorable?
Yes

Term structure: Term structure flat near 30-35% for near expiries, longer out 36-38%

📊Max pain pin cluster $250-$255, call wall $260-$350
⚠️No put OI concentration below spot, limited downside support

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+33.9M)

OI concentrations: Max pain pins at $250 (0d), $252 (2d), $255 (4d); call OI wall $260-$350. No significant put OI within 30% below.

Verdict: Moderate pin risk with multiple pin levels, call wall may resist above $260.

Premium Opportunities

#1
Short strangle
Sell 2026-07-17 $235.00 put + sell $260.00 call
Sell OTM put and call to capture high IV and theta decay.
Credit: $9.56-$11.69
Max loss: Unlimited
BE: 223.31 / 271.69
Mgmt: Close at 50% max gain or adjust if breach invalidation levels.
#2
Put credit spread
Sell 2026-07-17 $235.00/$230.00 put spread
Sell put spread for defined risk bullish bias.
Credit: $1.24-$1.51
Max loss: $3.49
BE: $233.49
Mgmt: Manage at invalidation level $233.15.
#3
Call calendar
Sell 2026-07-17 $260.00 call / buy 2026-08-21 $260.00 call
Sell near-term call, buy later call to profit from IV crush.
Debit: $5.40-$6.60
Max loss: $6.60
BE: Path-dependent
Mgmt: Exit before earnings or at IV drop.

Risk Alerts

!Positive GEX but net negative premium indicates mixed dealer positioning
!Spot below max pain; potential upward drift to pin
!Weak put OI below spot increases downside exposure for short puts
How to Use These Reports
This theta reflects the market close on June 8, 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.