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LITE

Lumentum Holdings Inc.Close $821.76EOD only
Max Pain
$900.00
Next expiry Jun 12, 2026
Expected Move
±$73.15
8.9% from close
Price Gap
+78.24
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
1.31
Slightly put-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Jun 9, 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 9, 2026 close
LITE Earnings Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

No upcoming earnings event; options flow suggests mixed sentiment with large call and put activity.

Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 8.7% from MP; +0.5 VIX 20
Most important: Unusual volume in 6/12 $900 call and 7/17 $850 put indicate directional divergence.
📈6/12 $900 call volume 8.7x OI signals aggressive bullish bet.
📉7/17 $850 put volume 7.8x OI suggests hedging or bearish stance.

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 6,178 (2.6% below spot)

Earnings Overview

Expected moves:

  • 2026-06-12 (3d): ±$73.15 (8.9%)
  • 2026-06-18 (9d): ±$112.95 (13.7%)
  • 2026-06-26 (17d): ±$146.55 (17.8%)

IV Setup

Term structure: Elevated IV (95-120%); term structure upward sloping from 3d to 17d.

Crush estimate: N/A (no earnings catalyst).

Skew: Put skew elevated; heavy put OI concentration near $600-$700.

Historical Context

Beat rate: 100% (5/5 quarters)

Directional bias: Neutral; no catalyst.

Key Levels

1$800.00 gamma flip
2EM guardrails: 2d $748.61/$894.91; 1w $708.81/$934.71
3Max pain pins: $900 (2026-06-12); $790 (2026-06-18); $910 (2026-06-26)

Flow Highlights

Large volume on 6/12 $900 call (4306 vs 493 OI).

Aggressive near-term bullish bet.

Large volume on 7/17 $850 put (3118 vs 400 OI).

Protective positioning or bearish view further out.

Strategies

Long strangle
Buy 2026-06-12 $795.00 put + buy $855.00 call
Debit: $41.27-$50.44
Max loss: $50.44
Max gain: Unlimited
BE: 744.56 / 905.44
Trigger: Monitor IV; adjust strikes if price approaches extremes.
Unusual option volume suggests potential large move; liquidity pass ensures execution.
Outperforms: Captures volatility without requiring catalyst; benefits from realized move.
Underperforms: Insufficient realized move reduces long-strangle edge.
Iron condor
Sell 2026-06-26 $800.00/$780.00 put wing and $860.00/$870.00 call wing
Credit: $12.11-$14.80
Max loss: $5.20
Max gain: $14.80
BE: 785.20 / 874.80
Trigger: Exit if price breaches outer wings; consider rolling if IV expands. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Open interest below 25.
Neutral bias and high IV favor premium collection; defined risk with support/resistance levels.
Outperforms: Sells premium within defined range; profits from time decay and IV contraction.
Underperforms: Move outside short strikes invalidates range thesis.
Call calendar
Sell 2026-06-26 $850.00 call / buy 2026-07-17 $850.00 call
Debit: $30.78-$37.62
Max loss: $37.62
Max gain: Variable
BE: Path-dependent
Trigger: Close if short call ITM; roll to higher strike if needed. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.
Backwardation in term structure allows premium capture with upside tail risk hedge.
Outperforms: Sells near-term call, buys longer-dated call; profits from IV differential.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short strangle
Sell 2026-06-26 $780.00 put + sell $870.00 call
Credit: $92.03-$112.48
Max loss: Unlimited
Max gain: $112.48
BE: 667.52 / 982.48
High IV and neutral outlook make premium sales attractive; defined risk via stop-loss.
Outperforms: Sell OTM puts and calls to collect elevated IV premium.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Gamma flip risk near $800 support.
!Call wall at $1000 may cap upside.

What to Watch

?QQQ/tech weakness.
?VIX trajectory.
?Open interest at $800 and $900.
How to Use These Reports
This earnings reflects the market close on June 9, 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.