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LITE

Lumentum Holdings Inc.Close $945.08EOD only

Max Pain

$900.00

Next expiry Jun 5, 2026

Expected Move

±$41.70

4.4% from close

Price Gap

-45.08

Distance to max pain

IV Rank

Low premium

P/C OI

1.42

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 4, 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 4, 2026 close

LITE Flow Report

Analysis based on market close June 5, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

4 / 10

base 5; -1 GEX/flow contradict; -0.5 spot 4.0% from MP; +0.5 VIX 22

Watch next session: Monitor call OI changes; Check gamma flip level

Flow Summary

Net premium: +$12.1M bullish

P/C volume ratio: 0.83

P/C OI ratio: 1.38

Heavy OTM call buying (950C vol 1551) and put activity amid market selloff. Net premium positive but mixed OI ratio and high VIX keep bias neutral. Key level: $800 gamma flip.

Notable Prints

LITE 2026-06-05 $870.00 Put

Vol: 1,080

OI: 183

Vol/OI: 5.9x

IV: 35.0%

Notional: ~$810K

Intent: Bearish hedge

Dual read: May be closing

Read-through: Expects decline

LITE 2026-06-05 $970.00 Call

Vol: 447

OI: 104

Vol/OI: 4.3x

IV: 83.6%

Notional: ~$2K

Intent: Bullish lottery

Dual read: Possible close

Read-through: Low cost bet

LITE 2026-07-17 $850.00 Put

Vol: 790

OI: 211

Vol/OI: 3.7x

IV: 94.5%

Notional: ~$8.2M

Intent: Downside protection

Dual read: Part of spread

Read-through: Hedging or bearish

LITE 2026-06-05 $890.00 Put

Vol: 743

OI: 212

Vol/OI: 3.5x

IV: 74.0%

Notional: ~$1.4M

Intent: Bearish directional

Dual read: Possible closing

Read-through: Expects further drop

LITE 2026-06-05 $920.00 Call

Vol: 580

OI: 167

Vol/OI: 3.5x

IV: 65.0%

Notional: ~$3K

Intent: Lottery ticket

Dual read: Could be closing

Read-through: Unlikely profit

Institutional Positioning

Call additions: Aggressive call buying at 950 (3x OI), 920, 960, 970, 980, 990, July 1300. Net premium +$12M.

Put additions: Significant put volume at 870 (5.9x OI), 890 (3.5x), July 850 (3.7x) for downside hedge.

GEX/DEX consistency: GEX -$7M vs DEX +6.8M shares – dealers short gamma but long delta, mixed flow call selling.

OI clusters: Put OI concentrated at 870, 850; call OI dispersed 920-1300. Max pain below spot.

Hedging evidence: Heavy put buying on QQQ -4.8% day; put OI ratio 1.38 indicates ongoing hedging.

Max pain context: Spot well below max pain; gamma flip near 800 suggests downside pin.

Signal vs Noise

~High put volume on near-term 870/890 real hedging amid tech selloff.

~Huge call volume at 950 (1551) notable but OTM calls may be speculative noise.

~Put/call volume ratio 0.83 bullish on surface but OI ratio 1.38 bearish – divergence is noise.

Key Conclusions

🛡️Smart money hedging downside via puts, but also speculating OTM calls – mixed signals.

⚡GEX negative suggests gamma squeeze potential if rally, but high vol regime warns false moves.

🔻Hedging evidence points to expectation further tech downside.

How to Use These Reports

This flow reflects the market close on June 5, 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.