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LITE

Lumentum Holdings Inc.Close $964.50EOD only
Max Pain
$900.00
Next expiry May 22, 2026
Expected Move
±$40.70
4.2% from close
Price Gap
-64.50
Distance to max pain
IV Rank
10
Low premium
P/C OI
1.40
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: May 21, 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 21, 2026 close
LITE Flow Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Flow Verdict

BiasMixed
Confirmation: Continued pinning near 800 support with call buying at 1000-1010
Invalidation: Break above 950 or below 800 with volume
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 7.2% from MP; +1 VIX 17

Flow Summary

Net premium: +$121.6M bullish

P/C volume ratio: 1.38

P/C OI ratio: 1.40

LITE displays mixed options flow: heavy put volume at 855/870 signals hedging, while net premium and call accumulation at 1000/1010 reflect upside bets. High VIX and gamma pinning near 800 suggest range-bound action. Watch for directional trigger from these key strikes.

Notable Prints

#1
LITE 2026-05-22 $855.00 Put
Vol: 841
OI: 123
Vol/OI: 6.8x
IV: 100.9%
Notional: ~$121K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#2
LITE 2026-05-22 $1010.00 Call
Vol: 620
OI: 118
Vol/OI: 5.2x
IV: 77.4%
Notional: ~$363K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#3
LITE 2026-05-22 $795.00 Put
Vol: 354
OI: 104
Vol/OI: 3.4x
IV: 127.8%
Notional: ~$16K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#4
LITE 2026-05-29 $570.00 Put
Vol: 382
OI: 117
Vol/OI: 3.3x
IV: 150.7%
Notional: ~$11K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#5
LITE 2026-05-22 $870.00 Put
Vol: 955
OI: 365
Vol/OI: 2.6x
IV: 92.4%
Notional: ~$124K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Calls added at 950, 1000, 1010, 1150 (weekly and longer-dated).

Put additions: Puts added at 795, 855, 870 (weekly); 570, 580 (next week).

GEX/DEX consistency: GEX +$1.5M, DEX +6.1M shares, consistent with bullish gamma and delta; high put volume suggests hedging.

OI clusters: Put OI cluster at 800 (5,965 contracts); call OI clusters at 950, 1000, 1010, 1150.

Hedging evidence: Heavy put buying at 795-870 and 570-580; put/call OI ratio 1.40 indicates downside hedging.

Max pain context: Spot ~7.2% above MP (~$800); gamma pinning expected near $800.

Signal vs Noise

~High volume/OI on 855p (6.8x) and 870p (2.6x) is real hedging flow.
~Call volume at 1000 (2.6x OI) is bullish signal.
~Far OTM puts (570, 580) with low OI may be noise.
~Net premium positive despite bearish volume ratio is signal of call premium dominance.

Key Conclusions

📈Institutions adding calls at 950-1150; net premium +$121M; GEX/DEX positive.
⚠️Heavy put buying and elevated put/call OI ratio (1.40) indicate significant downside hedging.
📌Spot 7.2% above MP ($800); gamma flip at 800 may pin; mixed flow suggests caution.
How to Use These Reports
This flow reflects the market close on May 21, 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.