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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

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 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.1% from MP; +1 VIX 17

Watch next session: Spot action near gamma flip $800; Put/call volume ratio drop; Open interest shifts at key strikes

Flow Summary

Net premium: +$67.7M bullish

P/C volume ratio: 1.70

P/C OI ratio: 1.48

LITE nets $67.7M premium with +6.1M DEX, signaling bullish flow. Elevated put volumes appear defensive. Positive gamma supports stability above $800. Next session: watch spot hold above $800.

Notable Prints

LITE 2026-06-05 $700.00 Put

Vol: 486

OI: 148

Vol/OI: 3.3x

IV: 98.9%

Notional: ~$224K

Intent: Bearish

Read-through: Bearish

LITE 2026-05-22 $920.00 Put

Vol: 600

OI: 208

Vol/OI: 2.9x

IV: 44.2%

Notional: ~$11K

Intent: Bearish

Read-through: Bearish

LITE 2026-05-22 $980.00 Call

Vol: 657

OI: 238

Vol/OI: 2.8x

IV: 43.0%

Notional: ~$7K

Intent: Bullish

Read-through: Bullish

LITE 2026-06-18 $770.00 Put

Vol: 464

OI: 173

Vol/OI: 2.7x

IV: 90.2%

Notional: ~$1.1M

Intent: Bearish

Read-through: Bearish

LITE 2026-05-22 $930.00 Put

Vol: 323

OI: 121

Vol/OI: 2.7x

IV: 41.7%

Notional: ~$15K

Intent: Bearish

Read-through: Bearish

Institutional Positioning

Call additions: Calls added at $980 (weekly), $1050 (June), $920 (June); bullish bets on upside.

Put additions: Puts added across $700-$950, notably $700, $920, $930, $875, $950; broad bearish or hedging.

GEX/DEX consistency: GEX+$635K, DEX+6.1M bullish, but put flow dominates; mixed signal.

OI clusters: Highest put OI at $920 (208), $950 (211), $700 (148); call OI thin.

Hedging evidence: Deep OTM puts ($700, $750, $770) added with high IV; tail risk hedging.

Max pain context: MP near $920-$950; spot above, pinning to higher levels.

Signal vs Noise

~Weekly low-IV puts ($920, IV 44%) are noise; focus on longer-dated $700 put (IV 99%) for hedging signal.

~High volume weekly $980 call (low premium) is noise; June $1050 call (IV 74%) is real bullish signal.

~Elevated put/call ratios vs positive GEX; put flow likely hedging, not directional.

Key Conclusions

🛡️Deep OTM put adds signal tail hedging, not bearish conviction.

🐂Long-dated call adds at $1050 show bullish upside positioning.

⚠️Put/call bearish but GEX/DEX positive; conflicting signals demand caution.

📌Spot above MP; pinning risk to downside if selloff triggers hedging.

How to Use These Reports

This flow reflects the market close on May 22, 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.