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AMZN

Amazon.com, Inc.Close $249.27EOD only
Max Pain
$252.50
Next expiry Sep 25, 2026
Expected Move
±$4.89
2.0% from close
Price Gap
+3.23
Distance to max pain
IV Rank
1
Low premium
P/C OI
0.68
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Sep 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
Sep 23, 2026 close
AMZN Theta Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 25, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short put spreads
Invalidation: Break below $214 support
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.4% from MP; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
IV avg 43.4% vs VIX 18.9, elevated premium
Favorable?
Yes

Term structure: Short-term elevated, humped peak at 7d, backwardation from 15d onward

📊Call skew elevated: puts cheaper than calls, premium selling tilt toward put side less attractive

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-12.3M)

OI concentrations: Max pain $238 (6/26), $235 (6/29), $238 (7/1); call OI $250-$320 wall

Verdict: Spot below MP; upside pin risk if rally to MP, but heavy call OI above $250 caps

Premium Opportunities

#1
Put credit spread
Sell 2026-07-24 $215.00/$205.00 put spread
Sell 215/205 put spread to capture elevated IV premium.
Credit: $1.89-$2.32
Max loss: $7.68
BE: $212.68
Mgmt: Close at 50% profit or at invalidation $214.
#2
Covered call
Buy shares + sell 2026-07-31 $245.00 call
Buy stock and sell $245 call premium.
Credit: $4.68-$5.72
Max loss: Stock downside to $0 less call premium
BE: $221.29
Mgmt: Roll up if stock rallies near strike.
#3
Call credit spread
Sell 2026-07-24 $245.00/$250.00 call spread
Sell 245/250 call spread to collect time decay.
Credit: $0.86-$1.06
Max loss: $3.94
BE: $246.06
Mgmt: Exit early if IV spikes or spot approaches 245.

Risk Alerts

!High IV premium but short gamma (-$12.3M) increases risk of sharp moves on spot movements; monitor gamma flip near expiration
How to Use These Reports
This theta reflects the market close on June 25, 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.