thetaOwl
HomeOptionsAMZNReports

AMZN

Amazon.com, Inc.Close $254.98EOD only
Max Pain
$252.50
Next expiry Sep 23, 2026
Expected Move
±$3.38
1.3% from close
Price Gap
-2.48
Distance to max pain
IV Rank
3
Low premium
P/C OI
0.68
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Sep 22, 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
Sep 22, 2026 close
AMZN Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 24, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short Strangle
Invalidation: Spot breaks below $228 or above $241
Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.3% from MP; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
IV 41% vs VIX 19% - elevated
Favorable?
Yes

Term structure: Front-end elevated, backwardated near term

📈IV high relative to VIX, good premium sell
📍Max pain $235 pinning spot

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+104.4M)

OI concentrations: Max pain $235, $238; call wall $250-$350

Verdict: Spot at max pain, high pinning likelihood

Premium Opportunities

#1
Short strangle
Sell 2026-07-24 $220.00 put + sell $245.00 call
Sell $220 put & $245 call, 36 DTE, captures theta & IV crush.
Credit: $7.58-$9.27
Max loss: Unlimited
BE: 210.73 / 254.27
Mgmt: Manage if spot breaches guardrails $228/$241.

Risk Alerts

!Dealer net short premium may cause hedging pressure
!Gamma flip if spot moves past guardrails
How to Use These Reports
This theta reflects the market close on June 24, 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.