GEX Option Sentiment
Amazon (AMZN) is pushing into a key gamma resistance zone, testing 180–185 — where the highest positive NET GEX and stacked call walls are sitting. These zones often act as friction areas where dealers may hedge more aggressively, slowing upside or even causing a fade. Support is reinforced near 165–167 by the HVL and PUT wall.
* Key Resistance: 180 / 185 → Top of call wall stack
* Support Zone: 165.29 → HVL and highest PUT support
* IVR/IVX: IVR 59.9, IVX avg 53.8 → Elevated, with room for continuation
* Options Flow: Bullish skew with only 6.1% in puts → Dealers tilted long
* Bias: Bullish, but approaching resistance = expect stall/fade or measured breakout
Option Play Idea If price consolidates above 180, consider 185C or 190C lottos with tight stop below 176 (gamma slip zone). If rejected below 180 with weakness, consider a put vertical 180/170 for premium capture into support.
Price Action + SMC Structure Trend structure has turned bullish after reclaiming structure with BOS and higher lows. Current rally is testing the supply zone and previous CHoCH area around 179–180. SMC bias is green across timeframes with strong DMI and RSI confirmation.
* Market Structure: Bullish Hold, but in premium zone — we’re near resistance
* Entry Confirmation: Price must hold above 175.93
* Targets:
* T1: 187.7
* T2: 195.58
* Invalidation: Break below 173.32
* Volume Watch: Thin volume in trend → Watch for strength continuation or stall
My Thoughts This is a high-conviction continuation setup — but it’s happening directly below a heavy gamma wall and supply zone. That means timing and confirmation are everything. I wouldn’t chase the move blindly here — instead, wait for a clear breakout and retest of 180 or a pullback to 175 for a safer entry.
We’re likely to see volatility increase into earnings and dealer hedging shift fast — especially with IV already climbing. Be tactical, and don’t overstay the move.
This analysis is for educational purposes only and does not constitute financial advice. Always do your own due diligence and manage risk accordingly.