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LITE

Lumentum Holdings Inc.Close $861.97EOD only
Max Pain
$860.00
Next expiry Jun 26, 2026
Expected Move
±$35.45
4.1% from close
Price Gap
-1.97
Distance to max pain
IV Rank
0
Low premium
P/C OI
1.33
Slightly put-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 25, 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 25, 2026 close
LITE Earnings Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

LITE earnings 47 days away; 100% beat rate; elevated IV; mixed flow with bullish call buying and put hedging.

Confidence:
6 / 10
base 5; +1 GEX/flow weakly aligned; -0.5 spot 4.4% from MP; +0.5 VIX 18
Most important: Watch near-term max pain $855 and call OI wall $900-$1000.
📊100% beat rate suggests consistent execution.
⚠️IV elevated 47 days out; theta decay significant.

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 2,307 (2.1% below spot)

Earnings Overview

Next earnings: 2026-08-12 (47 days)explicit

Expected moves:

  • 2026-07-02 (6d): ±$71.45 (8.7%)
  • 2026-07-10 (14d): ±$111.65 (13.7%)
  • 2026-07-17 (21d): ±$140.55 (17.2%)

IV Setup

Term structure: Front-end elevated; 6d ±8.7% annualized ~68%.

Crush estimate: Post-event IV likely compress ~50%.

Skew: Put OI ratio 1.30; downside protection active.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not calculable; limited data.

Directional bias: Bullish from 100% beat rate, but high expectations caution.

Key Levels

1$800.00 gamma flip
2EM guardrails: 1w $745.53/$888.43
3Max pain pins: $855 (2026-06-26); $885 (2026-07-02); $855 (2026-07-10)

Flow Highlights

Unusual call volume on LITE 2026-06-26 $820C (21x vol/oi)

Aggressive bullish positioning near support.

Put buying at $650P and $560P distant strikes

Hedging tail risk; bearish tilt in tails.

Strategies

Put Diagonal Hedge
Sell 2026-07-17 $770.00 put / buy 2026-08-21 $800.00 put
Debit: $57.46-$70.23
Max loss: $70.23
Max gain: Variable
BE: Path-dependent
Trigger: Monitor near-term IV; adjust if stock approaches $700.
Best liquidity, defined risk, aligns with put floor at $700.
Outperforms: Sell front-month put, buy later put for downside protection and IV skew.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Call Calendar Spread
Sell 2026-07-17 $880.00 call / buy 2026-08-21 $880.00 call
Debit: $51.52-$62.98
Max loss: $62.98
Max gain: Variable
BE: Path-dependent
Trigger: Exit if stock drops below $800; roll if IV widens. Liquidity warning: Liquidity constraints: short_call: Volume below 5.; long_call: Volume below 5.
Bullish bias from 100% beat rate, but liquidity weak and call wall caps upside.
Outperforms: Sell near-term call, buy later call to capture IV differential.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short Strangle
Sell 2026-08-21 $760.00 put + sell $880.00 call
Credit: $172.40-$210.71
Max loss: Unlimited
Max gain: $210.71
BE: 549.29 / 1090.71
Trigger: Close before earnings if IV collapses; set stop-losses. Liquidity warning: Liquidity constraints: short_call: Volume below 5.
High IV crush potential, but unlimited risk and poor liquidity.
Outperforms: Sell out-of-the-money put and call to collect premium from IV crush.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!High IV premium for long options; gamma risk from near-term expirations.
!Event far out; uncertainty elevated; hold positions may suffer theta decay.

What to Watch

?Earnings confirmation on 8/12; stock price relative to max pain $855.
?Call OI wall $900-$1000 may cap upside; put floor $700.
How to Use These Reports
This earnings reflects the market close on June 26, 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.