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LITE

Lumentum Holdings Inc.Close $946.90EOD only

Max Pain

$882.50

Next expiry May 29, 2026

Expected Move

±$84.20

8.9% from close

Price Gap

-64.40

Distance to max pain

IV Rank

Low premium

P/C OI

1.47

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 22, 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 22, 2026 close

LITE Flow Report

Analysis based on market close May 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6 / 10

base 5; -1 GEX/flow contradict; +1 spot 0.9% from MP; +1 VIX 17

Watch next session: $1000 call activity; $850 put defense

Flow Summary

Net premium: +$46.5M bullish

P/C volume ratio: 1.77

P/C OI ratio: 1.41

Aggressive call buying at $960-$1100 strikes drives positive net premium. Heavy put OI at $850 and below signals hedging. Bullish tilt with mixed flow. High VIX (17) and spot near MP add caution.

Notable Prints

LITE 2026-05-29 $960.00 Call

Vol: 497

OI: 157

Vol/OI: 3.2x

IV: 93.8%

Notional: ~$845K

Intent: Bullish speculation

Read-through:

LITE 2026-06-12 $590.00 Put

Vol: 332

OI: 105

Vol/OI: 3.2x

IV: 113.5%

Notional: ~$71K

Intent: Bearish bet

Read-through:

LITE 2026-05-29 $1000.00 Call

Vol: 2,219

OI: 724

Vol/OI: 3.1x

IV: 95.6%

Notional: ~$1.8M

Intent: Aggressive call

Read-through:

LITE 2026-05-29 $950.00 Call

Vol: 514

OI: 211

Vol/OI: 2.4x

IV: 91.9%

Notional: ~$987K

Intent: Bullish

Read-through:

LITE 2026-06-05 $665.00 Put

Vol: 442

OI: 214

Vol/OI: 2.1x

IV: 113.3%

Notional: ~$150K

Intent: Bearish hedge

Read-through:

Institutional Positioning

Call additions: High-strike calls 960/1000/1100 volume elevated; OI building 950-1000.

Put additions: Puts added at 590, 665, 850, 890; 850 put OI 657 (12.2% below spot).

GEX/DEX consistency: Inconsistent: GEX -$1.3M (short gamma), DEX +5.8M (long delta).

OI clusters: Call OI at 950-1000; Put OI heavy at 850, 890, 590.

Hedging evidence: Put buying at 590/665/850/890 signals downside hedging.

Max pain context: Spot near MP; put OI concentration suggests pin near 850.

Signal vs Noise

~Put/call volume ratio 1.77 is real hedging flow.

~Net premium +$46M but mixed with put-heavy ratio.

~Negative GEX vs positive DEX indicates dealer hedging.

~Unusual prints at high strikes (3.2x vol/oi) are likely part of spreads.

Key Conclusions

⚠️Put-heavy flow and negative gamma suggest downside risk, but call accumulation at 950-1000 adds ambiguity.

🛡️Hedging evident via put buying below spot; potential collar activity between 850 and 1000.

📊High put OI at 850 (12.2% below spot) acts as put wall; spot may drift lower.

How to Use These Reports

This flow reflects the market close on May 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.