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ARM

Arm Holdings plcClose $256.73EOD only

Max Pain

$210.00

Next expiry May 22, 2026

Expected Move

±$8.38

3.3% from close

Price Gap

-46.73

Distance to max pain

IV Rank

High premium

P/C OI

1.24

Slightly put-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 20, 2026 close

End-of-day snapshot

This page reflects ARM options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 20, 2026 close

ARM Flow Report

Analysis based on market close March 31, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

Confidence:

7 / 10

base 5; +2 strong bullish net premium & call flow; +1 GEX pinning supports mean reversion; -1 high IV & P/C OI ratio shows long-term put positioning

Watch next session: $160C OI build in Apr 2/10 expiries; Any put flow at $152.50 or $140 to gauge downside pressure

Flow Summary

Net premium: +$9.6M bullish

P/C volume ratio: 0.63 — strongly call-dominant

P/C OI ratio: 1.32 — overall put-skewed positioning

Today's flow is aggressively bullish with significant call buying in near-term expiries, driving a large positive net premium. However, the open interest remains skewed to puts, indicating a longer-term cautious or hedged posture beneath the surface.

Notable Prints

ARM $162.50 Call 2026-04-02

Vol: 2,371

OI: 537

Vol/OI: 4.4x

IV: 52.4%

Notional: ~$359k (est. mid $0.1515)

Intent: Fresh directional bet for a quick move above $162.50 by Friday.

Dual read: Bought to open (bullish breakout) or sold as part of a spread (neutral/capped upside). High vol/oi suggests new position.

Read-through: Most significant near-dated bullish bet. Aims for a >7% move in 2 days, aligning with the upper bound of the expected move ($156.28).

ARM $165.00 Call 2026-04-10

Vol: 1,864

OI: 389

Vol/OI: 4.8x

IV: 52.2%

Notional: ~$242k (est. mid $0.13)

Intent: Directional call buying targeting a move to ~$165 over the next 10 days.

Dual read: Likely bought to open, given volume spike and elevated IV for a 9% OTM strike.

Read-through: Confirms bullish sentiment extends beyond the weekly expiry. Part of a cluster of call buying in the $160-$175 zone for April 10th.

ARM $175.00 Call 2026-04-10

Vol: 1,078

OI: 178

Vol/OI: 6.1x

IV: 54.1%

Notional: ~$70k (est. mid $0.065)

Intent: Low-cost, high-upside directional lottery ticket.

Dual read: Almost certainly bought to open. The high vol/oi and 16% OTM strike point to speculative long call flow.

Read-through: Indicates presence of aggressive, momentum-seeking buyers willing to bet on a >15% rally in 10 days.

ARM $152.50 Put 2026-04-02

Vol: 298

OI: 151

Vol/OI: 2.0x

IV: 54.3%

Notional: ~$89k (est. mid $0.30)

Intent: Near-dated hedge or speculative bet on a dip below spot.

Dual read: Could be protective put buying (bearish/hedging) or sold for premium (neutral/bullish). Proximity to spot suggests hedging.

Read-through: The only notable put flow in unusual activity. Serves as a counterpoint to the dominant call flow, possibly defining a near-term support/resistance level.

Institutional Positioning

Call additions: Concentrated in Apr 2 and Apr 10 expiries at strikes $152.50, $155, $160, $162.50, $165, $175.

Put additions: Minimal in today's unusual flow. Long-term OI heavily concentrated at $110 and $115 puts.

GEX/DEX consistency: Yes. Positive GEX (+$9.7M) and bullish net flow are aligned, supporting a pinning/mean-reverting regime near current spot.

OI clusters: Major Put Walls: $115 (10,326 OI), $110 (9,329 OI). Major Call Wall: $125 (8,339 OI), $160 (7,252 OI). Creates a broad support zone ~$110-$115 and a nearer-term magnet/resistance at $125-$160.

Hedging evidence: Strong evidence of long-term hedging via deep OTM puts ($80, $100, $110, $115). Today's $152.50P flow could be short-term hedging against a pullback from current levels.

Max pain context: Spot ($151.28) is well above near-term max pain ($132 for 3/27, $140 for 4/2). This creates a gravitational pull lower towards those strikes, conflicting with the bullish flow thesis.

Signal vs Noise

~The massive net negative premium at the $240 strike (-$2.04M) is almost certainly noise—likely a data artifact or a single, anomalous trade at a deeply OTM strike with no relevance to current price action.

~High volume in weekly $160C and $155C is likely part of the same bullish directional theme, not independent noise.

~The elevated P/C OI ratio (1.32) reflects legacy hedging from lower price levels, not necessarily new bearish positioning today.

Key Conclusions

🚀Strong, concentrated bullish flow in weekly and April expiries targeting moves to $160-$175.

⚖️Flow (bullish) conflicts with Max Pain (bearish pull to ~$140) and long-term OI (put-skewed). Battle between short-term momentum and longer-term gravity.

📌Positive GEX suggests pinning/mean reversion is likely, making sharp breaks away from spot difficult in the near term.

🛡️Institutions remain heavily hedged via deep OTM puts, capping catastrophic downside but not preventing a pullback to $140-$125.

How to Use These Reports

This flow reflects the market close on March 31, 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.