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AMZN

Amazon.com, Inc.Close $248.00EOD only
Max Pain
$250.00
Next expiry Oct 26, 2026
Expected Move
±$4.42
1.8% from close
Price Gap
+2.00
Distance to max pain
IV Rank
26
Middle-high premium
P/C OI
0.69
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Oct 23, 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
Oct 23, 2026 close
AMZN Theta Report
Analysis based on market close June 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 10, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness3 / 10
Sizing: Conservative
Primary: Wait for pin event resolution
Invalidation: Pin risk materializes: spot rallies through $250
Confidence:
5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning)

IV Environment

IV Regime
Normal
IV vs VIX
IV 42% vs VIX 22% – elevated 20pts
Favorable?
No

Term structure: 0dte IV 6.57% spikes to 34.17% at 2dte (pinning event risk); contango thereafter, flattening ~35-40%

⚠️IV high but 2dte spike signals pinning event risk
📈Dealer long gamma supports move toward max pain $245-$250

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+11.1M)

OI concentrations: Call OI wall $250-$350; max pain $245/$250; no put OI below spot

Verdict: Pinning risk elevated – dealer gamma positive, spot below max pain, bias upward to $250

Premium Opportunities

#1
Put credit spread
Sell 2026-06-12 $227.50/$225.00 put spread
Sells put spread below spot, capturing elevated IV premium with defined risk.
Credit: $0.11-$0.13
Max loss: $2.37
BE: $227.37
Mgmt: Monitor spot near $227.50; roll if approaching invalidation level.
#2
Iron condor
Sell 2026-06-12 $227.50/$225.00 put wing and $245.00/$247.50 call wing
Sells both wings to collect premium, expecting AMZN to stay within 227.50-245.00.
Credit: $0.36-$0.45
Max loss: $2.05
BE: 227.05 / 245.45
Mgmt: Manage call wing if spot reaches $245; consider adjusting to call credit spread.

Risk Alerts

!Pin risk: dealer long gamma may push spot to $250 resistance
!Near-dated IV spike increases premium selling risk
!Spot below max pain, potential sharp move higher
How to Use These Reports
This theta reflects the market close on June 10, 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.