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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 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

LITE earnings 58 days away (Aug 12). IV elevated, term structure steep. Historical beat rate 100% (5/5) but small sample. Flow shows large unusual call at 1020C and put skew. Near-term pin action key.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 19.7% from MP; +1 VIX 16
Most important: Unusual call volume at 1020C suggests bullish positioning; put wall at 810P provides support.
📊Put/call OI ratio 1.32 vs vol ratio 1.15; puts dominant in OI but calls active in volume.

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 6,305 (16.4% below spot)

Earnings Overview

Next earnings: 2026-08-12 (58 days)explicit

Expected moves:

  • 2026-06-18 (3d): ±$78.70 (8.2%)
  • 2026-06-26 (11d): ±$132.05 (13.8%)
  • 2026-07-02 (17d): ±$157.95 (16.5%)

IV Setup

Term structure: Steep: 3d ±8.2%, 11d ±13.8%, 17d ±16.5% IV rising with tenor.

Crush estimate: Post-event estimated ~50% IV crush; event far out, near-term may see expansion.

Skew: Put/call OI ratio 1.32; puts dominate, but 1020C unusual call.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not available; insufficient data.

Directional bias: Bullish based on 100% beat rate; but small sample (5 quarters).

Key Levels

1$800.00 gamma flip
2EM guardrails: 2d $878.54/$1035.94
3Max pain pins: $800 (2026-06-18); $880 (2026-06-26); $950 (2026-07-02)

Flow Highlights

Unusual 2340-contract call at LITE 1020C (exp 6/18) on low OI (108), volume/OI 21.7x.

Large directional bet or hedge; may reflect optimism ahead of earnings or gamma squeeze play.

Strategies

Call diagonal
Sell 2026-06-26 $1000.00 call / buy 2026-07-17 $950.00 call
Debit: $58.55-$71.56
Max loss: $71.56
Max gain: Variable
BE: Path-dependent
Trigger: Roll short leg if spot nears $1000; adjust to maintain neutral-delta.
Exploits steep term structure; sell near-term high IV, buy later lower IV; bullish bias supported by unusual 1020C flow.
Outperforms: Calendar spread profiting from accelerating front-month IV and bullish drift.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Long strangle
Buy 2026-08-21 $940.00 put + buy $1000.00 call
Debit: $263.38-$321.92
Max loss: $321.92
Max gain: Unlimited
BE: 618.08 / 1321.92
Trigger: Close before earnings or let run; wide wings reduce gamma risk.
Captures binary earnings move; 100% beat rate and unusal 1020C activity suggest upside potential.
Outperforms: Buy OTM put and call to benefit from large post-earnings swing.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Wide bid-ask spreads likely; low liquidity in deep OTM puts.
!Gamma flip at $800; spot at $958.5 above MP $800 for near-term.
!Earnings 58 days away; near-term IV may not reflect event correctly.

What to Watch

?6/18 expiration: pin action near $800 MP and $878-$1036 EM range.
?Unusual 1020C activity: follow-up volume or OI increase.
?Spot relative to key support $900 and resistance $1000-$1115.
How to Use These Reports
This earnings reflects the market close on June 15, 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.