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AMZN

Amazon.com, Inc.Close $232.11EOD only
Max Pain
$235.00
Next expiry Jul 27, 2026
Expected Move
±$3.78
1.6% from close
Price Gap
+2.89
Distance to max pain
IV Rank
23
Low premium
P/C OI
0.62
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jul 24, 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
Jul 24, 2026 close
AMZN Theta Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 9, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Iron Condor
Invalidation: Break below $240 or above $255
Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.3% from MP; +0.5 VIX 20

IV Environment

IV Regime
Normal
IV vs VIX
IV 40% vs VIX 20% – rich premiums
Favorable?
Yes

Term structure: Contango with short-term spikes; favorable for premium selling

📊IV at 40% offers attractive premium selling opportunity.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+84.4M)

OI concentrations: Call OI wall $260-$350; put OI light below $232

Verdict: Pin risk near $245-$250 max pain; positive GEX cushions

Premium Opportunities

#1
Iron condor
Sell 2026-07-10 $245.00/$240.00 put wing and $250.00/$255.00 call wing
Sell put wing at $245/$240 and call wing at $250/$255; benefits from IV contraction and theta decay.
Credit: $3.80-$4.65
Max loss: $0.35
BE: 240.35 / 254.65
Mgmt: Set auto-close at 50% max gain; monitor pin risk near max pain.
#2
Call calendar
Sell 2026-07-17 $260.00 call / buy 2026-08-21 $260.00 call
Sell Jul 17 call, buy Aug 21 call at $260; profits from IV drop after earnings.
Debit: $5.26-$6.44
Max loss: $6.44
BE: Path-dependent
Mgmt: Exit before earnings to avoid pin; roll if up 20%.
#3
Put credit spread
Sell 2026-07-10 $240.00/$235.00 put spread
Sell $240/$235 put spread for ~$2.03 credit with 0.21 delta.
Credit: $1.66-$2.03
Max loss: $2.97
BE: $237.97
Mgmt: Manage at 2x credit; stop loss if AMZN breaks $240.

Risk Alerts

!Expiration week may amplify pinning
!No gamma flip within 30% below spot
How to Use These Reports
This theta reflects the market close on June 9, 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.