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AMZN

Amazon.com, Inc.Close $227.01EOD only
Max Pain
$237.50
Next expiry Jun 26, 2026
Expected Move
±$4.15
1.8% from close
Price Gap
+10.49
Distance to max pain
IV Rank
17
Low premium
P/C OI
0.62
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 25, 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 25, 2026 close
AMZN Theta Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness9 / 10
Sizing: Moderate
Primary: Cash-secured puts
Invalidation: Break below $220 or above $250
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.2% from MP; +0.5 VIX 18

IV Environment

IV Regime
Normal
IV vs VIX
avg_iv 40.8% vs VIX 18.4; stock IV elevated relative to VIX.
Favorable?
Yes

Term structure: Front-week IV ~30%, spike ~44% on Jul 1; suggest event risk.

📊IV spike on Jul 1 indicates potential event risk; caution near that expiry.
💰GEX +$161.8M positive gamma aligns with max pain pinning at $230-$232.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+161.8M)

OI concentrations: Max pain $230-$232; call OI wall $250-$320.

Verdict: Positive gamma and bullish flow support pinning near max pain; puts are overpriced.

Premium Opportunities

#1
Cash-secured put
Sell 2026-07-02 $230.00 cash-secured put
Cash-secured put selling overpriced volatility with 34 days to earnings.
Credit: $3.11-$3.80
Max loss: $226.20
BE: $226.20
Mgmt: Close at 50% profit or roll if spot nears $230 before expiration.
#2
Put credit spread
Sell 2026-07-02 $230.00/$227.50 put spread
Put credit spread capturing elevated put premium with downside buffer.
Credit: $0.80-$0.98
Max loss: $1.52
BE: $229.02
Mgmt: Manage at 50% profit; exit if $230 broken.
#3
Iron condor
Sell 2026-07-02 $230.00/$227.50 put wing and $245.00/$247.50 call wing
Iron condor exploiting expected pinning action around max pain.
Credit: $0.95-$1.16
Max loss: $1.34
BE: 228.84 / 246.16
Mgmt: (Manage at 50% profit; adjust wings if $230 or $245 breached.) Liquidity warning: Liquidity constraints: short_call: Wide spread (65%).; long_call: Wide spread (79%).

Risk Alerts

!Monitor IV spike on Jul 1 expiration.
!Call wall $250 may cap upside.
!Positive gamma reduces downside risk unless spot breaks support at $230.
How to Use These Reports
This theta reflects the market close on June 26, 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.