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LITE

Lumentum Holdings Inc.Close $945.08EOD only
Max Pain
$900.00
Next expiry Jun 5, 2026
Expected Move
±$41.70
4.4% from close
Price Gap
-45.08
Distance to max pain
IV Rank
23
Low premium
P/C OI
1.42
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 4, 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
Jun 4, 2026 close
LITE Earnings Report
Analysis based on market close June 5, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

No upcoming earnings event; implied moves from weekly options suggest elevated IV (~80%) but no scheduled catalyst.

Confidence:
4 / 10
base 5; -1 GEX/flow contradict; -0.5 spot 4.0% from MP; +0.5 VIX 22
Most important: No earnings date; high VIX and broad selloff drive risk.
🛡️Unusual put buying at $870 (vol/OI 5.9) suggests near-term hedging.
📈High call volume at $950 (3.0x OI) but OTM; speculative.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,232 (7.4% below spot)

Earnings Overview

Expected moves:

  • 2026-06-12 (7d): ±$97.75 (11.3%)
  • 2026-06-18 (13d): ±$132.30 (15.3%)
  • 2026-06-26 (21d): ±$165.40 (19.2%)

IV Setup

Term structure: Flat ~80% IV across expirations (7d 81.6%, 13d 81.1%, 21d 80.0%).

Crush estimate: N/A (no event)

Skew: Put-heavy OI ratio 1.38; spot below max pain $900.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Beat rate 100% over 5 quarters but next date unknown.

Directional bias: Neutral (historical bias not applicable).

Key Levels

1$800.00 gamma flip
2EM guardrails: 1w $765.91/$961.41
3Max pain pins: $900 (2026-06-05); $935 (2026-06-12); $790 (2026-06-18)

Flow Highlights

Large put volume at $870 (5.9x OI) with 1080 contracts.

Near-term hedging or bearish bet near current price.

High call volume at $950 (3.0x OI) with 1551 contracts.

Speculative OTM call buying amid selloff.

Strategies

Short strangle
Sell 2026-06-12 $795.00 put + sell $960.00 call
Credit: $36.59-$44.72
Max loss: Unlimited
Max gain: $44.72
BE: 750.28 / 1004.72
Trigger: Monitor $800 support and $890 resistance; roll untested side or close at 50% max gain.
Only eligible candidate; captures high IV (80%) with no event risk.
Outperforms: Sells OTM put and call to collect premium; benefits from time decay and IV contraction.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Broad market selloff (QQQ -4.8%) pressures LITE.
!Put-heavy OI floor at $800; break below accelerates.

What to Watch

?VIX above 21; QQQ price action.
?Max pain $900 vs spot ~$864; pinning incentive.
How to Use These Reports
This earnings reflects the market close on June 5, 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.