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LITE

Lumentum Holdings Inc.Close $921.56EOD only
Max Pain
$800.00
Next expiry Jun 18, 2026
Expected Move
±$89.65
9.7% from close
Price Gap
-121.56
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
1.31
Slightly put-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 12, 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 12, 2026 close
LITE Earnings Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

LITE 61d to earnings, 100% beat rate, high confidence with strong flow & low VIX.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 18
Most important: Aggressive call buying and pinning at $900 suggest bullish bias.
🔥Unusual call volume at $960/$940.
⚖️Net premium positive but put OI ratio high.
⚠️Front-week IV high; premium decay risk.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,159 (13.2% below spot)

Earnings Overview

Next earnings: 2026-08-12 (61 days)explicit

Expected moves:

  • 2026-06-18 (6d): ±$89.65 (9.7%)
  • 2026-06-26 (14d): ±$133.75 (14.5%)
  • 2026-07-02 (20d): ±$160.60 (17.4%)

IV Setup

Term structure: Steep backwardation: front-week IV very high, decay to later expirations.

Crush estimate: No immediate crush; front-week IV may drop post-expiry.

Skew: Call skew up; flow at $940-$960 calls; put OI at low strikes.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Beat rate 100%; avg move likely above expected.

Directional bias: Bullish bias from consistent beats.

Key Levels

1$800.00 gamma flip
2EM guardrails: 1w $831.91/$1011.21
3Max pain pins: $900 (2026-06-12); $800 (2026-06-18); $875 (2026-06-26)

Flow Highlights

Heavy call buying at $960/$940 strikes, vol/OI >4.

Aggressive bullish bets.

$1080 call for 6/18 with 87.8 IV.

Long-dated bullish bet or hedge.

Strategies

Short Strangle
Sell 2026-06-26 $900.00 put + sell $950.00 call
Credit: $100.85-$123.26
Max loss: Unlimited
Max gain: $123.26
BE: 776.74 / 1073.26
Trigger: Monitor pinning; close if IV spikes or breach $750/$1050.
Best due to high front-week IV, steep backwardation, and bullish bias; premium collection near pinning at $900.
Outperforms: Sells OTM put and call to capture IV crush; skewed strikes reduce directional risk.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Call Diagonal
Sell 2026-06-26 $950.00 call / buy 2026-07-24 $920.00 call
Debit: $57.60-$70.40
Max loss: $70.40
Max gain: Variable
BE: Path-dependent
Trigger: Roll if price approaches sold strike; manage gamma risk near earnings. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.
Bullish bias and consistent beats support long call; sell near-term premium via backwardation.
Outperforms: Buy back-month call, sell front-month call at higher strike to finance bullish position.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Bull Call Spread
Buy 2026-08-21 $900.00/$950.00 call spread
Debit: $18.41-$22.50
Max loss: $22.50
Max gain: $27.50
BE: $922.50
Trigger: Exit if $900 support breaks; take partial profits above $950. Liquidity warning: Liquidity constraints: short_call: Volume below 5.
Simple bullish play leveraging high beat rate and aggressive call buying; defined risk.
Outperforms: Buy $900 call, sell $950 call to profit from upward move with limited capital.
Underperforms: Loss of support weakens upside continuation thesis.
Long strangle
Buy 2026-08-21 $900.00 put + buy $950.00 call
Debit: $262.17-$320.43
Max loss: $320.43
Max gain: Unlimited
BE: 579.57 / 1270.43
High IV but strangle cheaper than straddle; historic beats drive big moves.
Outperforms: Bet on large move with cheap premium.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!High IV contraction risk.
!Gamma pinning near $900.
!Put floor $600-$850 if breached.

What to Watch

?$900 max pain, $800 gamma flip, $1000 call wall.
?EM guardrails $831.91/$1011.21.
?Near-term IV and volume.
How to Use These Reports
This earnings reflects the market close on June 12, 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.