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LITE

Lumentum Holdings Inc.Close $957.24EOD only
Max Pain
$800.00
Next expiry Jun 18, 2026
Expected Move
±$78.70
8.2% from close
Price Gap
-157.24
Distance to max pain
IV Rank
42
Middle-high premium
P/C OI
1.32
Slightly put-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Jun 15, 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 15, 2026 close
LITE Earnings Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Earnings 57d away; elevated IV, heavy call flow at high strikes; 100% beat rate bullish but spot above MP adds caution

Confidence:
4 / 10
base 5; -1 GEX/flow contradict; -1 spot 9.4% from MP; +1 VIX 16
Most important: Call OI wall $1000-$1020; put floor $800; unusual call volume at $980 and $1020
🔔100% beat rate: LITE beat EPS 5/5 quarters. Spot 9.4% above June 18 max pain ($800), low near-term pin risk

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,412 (8.6% below spot)

Earnings Overview

Next earnings: 2026-08-12 (57 days)explicit

Expected moves:

  • 2026-06-18 (2d): ±$55.90 (6.4%)
  • 2026-06-26 (10d): ±$107.95 (12.3%)
  • 2026-07-02 (16d): ±$136.90 (15.6%)

IV Setup

Term structure: Upward sloping: 2d IV ~93%, Dec IV ~102%

Crush estimate: High post-earnings crush expected but far out

Skew: Slight put OI bias but heavy call buying at high strikes; skew positive

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not available; implied moves: 2d 6.4%, 10d 12.3%, 16d 15.6%

Directional bias: Bullish based on 100% beat rate and call accumulation

Key Levels

1$800.00 gamma flip
2EM guardrails: 2d $819.46/$931.26; 1w $767.41/$983.31
3Max pain pins: $800 (2026-06-18); $890 (2026-06-26); $950 (2026-07-02)

Flow Highlights

Aggressive call buying at $980 and $1020 strikes for June 18 expiry with vol/OI ratios >3

Speculative upside bets; potential gamma squeeze if spot nears $1000

Strategies

Bull Call Spread (1010/1020)
Buy 2026-08-21 $1010.00/$1020.00 call spread
Debit: $2.52-$3.08
Max loss: $3.08
Max gain: $6.92
BE: $1013.08
Trigger: Exit if spot breaks below 850 support; hold through earnings. Liquidity warning: Liquidity constraints: short_call: Volume below 5.
100% beat rate, heavy call flow, low risk relative to upside.
Outperforms: Capitalizes on bullish earnings momentum with defined risk.
Underperforms: Loss of support weakens upside continuation thesis.
Long Call 1210
Buy 2026-08-21 $1210.00 call
Debit: $52.20-$63.80
Max loss: $63.80
Max gain: Unlimited
BE: $1273.80
Trigger: Consider trailing stop; watch IV expansion. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.
Elevated call/put ratio (2.5x), large 1210 call block trades suggest institutional bullish bet on earnings beat.
Outperforms: Leveraged bet on continued bullish momentum.
Underperforms: Failure at support and IV crush weaken long-call thesis.
Long Strangle (720P / 1220C)
Buy 2026-08-21 $720.00 put + buy $1220.00 call
Debit: $110.11-$134.59
Max loss: $134.59
Max gain: Unlimited
BE: 585.41 / 1354.59
Trigger: Adjust strikes if spot approaches one leg; monitor IV crush. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.
Non-directional, benefits from large move, lower premium than straddle.
Outperforms: Volatility play anticipating big earnings swing.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Earnings far out; IV may decline before event
!Spot $865.6 well below $1000 strike walls; high strike calls may decay
!Put OI concentration at $800 may act as support

What to Watch

?Spot holding above $850 support
?Volume in June $980 and $1020 calls
?Any shift in put OI at $800
How to Use These Reports
This earnings reflects the market close on June 16, 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.