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LITE

Lumentum Holdings Inc.Close $946.90EOD only
Max Pain
$882.50
Next expiry May 29, 2026
Expected Move
±$84.20
8.9% from close
Price Gap
-64.40
Distance to max pain
IV Rank
24
Low premium
P/C OI
1.47
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: May 22, 2026 close
End-of-day snapshot

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

Published Snapshot
May 22, 2026 close
LITE Earnings Report
Analysis based on market close May 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

LITE earnings: 100% beat rate, expected move ±7.7%, but high IV and mixed flow with calls at $960-$1000 and deep OTM puts hedging.

Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 spot 0.9% from MP; +1 VIX 17
Most important: Confirm earnings date 5/29; watch $900 support and IV crush.
📈100% beat rate 5/5 quarters
⚠️Deep OTM put buying indicates hedging

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
At
Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,102 (12.2% below spot)

Earnings Overview

Expected moves:

  • 2026-05-29 (3d): ±$70.05 (7.7%)
  • 2026-06-05 (10d): ±$126.55 (13.9%)
  • 2026-06-12 (17d): ±$156.55 (17.2%)

IV Setup

Term structure: Front-end elevated, 3d expected move 7.7%

Crush estimate: Significant ~50% IV drop post-event

Skew: Put skew elevated, deep OTM puts active

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: 100% beat rate, avg move not available

Directional bias: Bullish per beat rate

Key Levels

1$800.00 gamma flip
2EM guardrails: 2d $840.76/$980.86; 1w $784.26/$1037.36
3Max pain pins: $902 (2026-05-29); $900 (2026-06-05); $950 (2026-06-12)

Flow Highlights

Unusual call buying at $960-$1000 strikes for 5/29

Bullish sentiment aiming above $960

Heavy deep OTM put volume at $590 and $665

Hedging or bearish tail risk positioning

Strategies

Bull Call Spread
Buy 2026-06-05 $925.00/$1000.00 call spread
Debit: $23.04-$28.16
Max loss: $28.16
Max gain: $46.84
BE: $953.16
Trigger: Exit at max gain or if stock breaks $900 support.
Strong beat rate supports bullish bias; defined risk and good liquidity.
Outperforms: Buy $925/$1000 call spread to capture upside with limited loss.
Underperforms: Loss of support weakens upside continuation thesis.
Long Straddle
Buy 2026-06-05 $925.00 put + buy $925.00 call
Debit: $113.85-$139.15
Max loss: $139.15
Max gain: Unlimited
BE: 785.85 / 1064.15
Trigger: Close before IV crush or set stop-loss at 50% premium loss.
100% beat rate suggests large move; premium high but decay risk.
Outperforms: Buy $925 straddle to profit from significant move.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Call diagonal
Sell 2026-06-05 $1010.00 call / buy 2026-07-17 $980.00 call
Debit: $65.88-$80.52
Max loss: $80.52
Max gain: Variable
BE: Path-dependent
Front-end IV elevated with expected 50% crush post-earnings; calendar captures term-structure flattening while maintaining bullish delta bias.
Outperforms: Sell rich near-term call vol before IV crush, own back-month call for directional upside and longer vol exposure.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!High IV with large expected move
!Flow contradictory: calls and OTM puts
!Stock near $902 max pain support

What to Watch

?Stock action relative to $900 support
?IV crush magnitude after event
?Earnings date confirmation
How to Use These Reports
This earnings reflects the market close on May 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.