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LITE

Lumentum Holdings Inc.Close $868.07EOD only

Max Pain

$907.50

Next expiry May 22, 2026

Expected Move

±$61.90

7.1% from close

Price Gap

+39.43

Distance to max pain

IV Rank

Low premium

P/C OI

1.40

Slightly put-heavy

Consensus

4.5/10

Bearish tilt

Published snapshot: May 20, 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

May 20, 2026 close

LITE Flow Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from May 19, 2026. A newer flow report is available for May 20, 2026.

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Flow Verdict

Confidence:

4.5 / 10

base 5; -1 GEX/flow contradict; +0.5 VIX 18

Watch next session: 800 gamma flip; 700-750 put levels

Flow Summary

Net premium: +$49.5M bullish

P/C volume ratio: 1.39

P/C OI ratio: 1.34

LITE is bearish with heavy put accumulation, negative gamma, and put ratios >1.4. Positive net premium but mixed flow. Bias confirmed if price stays below 800; invalidated if calls surge and reclaim 800.

Notable Prints

LITE 2026-05-22 $720.00 Put

Vol: 406

OI: 110

Vol/OI: 3.7x

IV: 124.0%

Notional: ~$70K

Intent: Bearish speculation

Dual read: Hedging long position

Read-through: Bearish

LITE 2026-06-18 $300.00 Put

Vol: 348

OI: 126

Vol/OI: 2.8x

IV: 183.7%

Notional: ~$9K

Intent: Lottery bet

Dual read: Tail risk hedge

Read-through: Extreme bearish

LITE 2026-05-22 $900.00 Call

Vol: 671

OI: 304

Vol/OI: 2.2x

IV: 103.7%

Notional: ~$2.3M

Intent: Bullish speculation

Dual read: Short squeeze bet

Read-through: Bullish

LITE 2026-05-22 $700.00 Put

Vol: 789

OI: 389

Vol/OI: 2.0x

IV: 124.3%

Notional: ~$114K

Intent: Bearish hedging

Read-through: Bearish

LITE 2026-09-18 $800.00 Put

Vol: 201

OI: 110

Vol/OI: 1.8x

IV: 91.7%

Notional: ~$2.8M

Intent: Long-term bearish

Dual read: Portfolio hedge

Read-through: Bearish

Institutional Positioning

Call additions: Institutions adding calls at 880-900 (vol/oi 1.7-2.2); net premium +$49.5M.

Put additions: Puts added at 700-720 (vol/oi 2.0-3.7), far OTM 300, and deep ITM Sep 800.

GEX/DEX consistency: GEX -$2.2M (short gamma) vs DEX +5.9M (long delta); conflict noted.

OI clusters: Put OI concentrated near 700-720 (3.9k), call OI at 880-900; gamma flip ~800.

Hedging evidence: Deep ITM Sep 800 put and OTM puts suggest hedging/speculation.

Max pain context: Spot below max pain (~800); pin expectation to that level.

Signal vs Noise

~High put/call ratio (1.39) and unusual prints with vol/oi >2 are signal.

~GEX/DEX conflict and mixed flow add noise.

~Low OI changes on smaller prints are noise.

Key Conclusions

🐻Put flow dominates despite net premium; hedging evident.

⚠️Dealers short gamma; VIX 18 amplifies moves.

📌Spot below MP, pin likely to 800.

How to Use These Reports

This flow reflects the market close on May 19, 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.