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LITE

Lumentum Holdings Inc.Close $821.76EOD only
Max Pain
$900.00
Next expiry Jun 12, 2026
Expected Move
±$73.15
8.9% from close
Price Gap
+78.24
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
1.31
Slightly put-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Jun 9, 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 9, 2026 close
LITE Flow Report
Analysis based on market close June 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Flow Verdict

BiasMixed
Confirmation: Call volume dominance and large prints continue.
Invalidation: Large put sweeps or spot below 800.
Confidence:
3 / 10
base 5; -1 GEX/flow contradict; -1 spot 5.2% from MP

Watch next session: 800; 900

Flow Summary

Net premium: +$40.1M bullish

P/C volume ratio: 0.91

P/C OI ratio: 1.29

Large net call premium and unusual call buying at 850-960 despite negative gamma and bearish OI suggest mixed positioning. Spot below MP but call flows support near-term buying interest.

Notable Prints

#1
LITE 2026-06-12 $960.00 Call
Vol: 321
OI: 202
Vol/OI: 1.6x
IV: 105.6%
Notional: ~$144K
Intent: Lottery upside bet
Dual read: Tail hedge vs speculation

Read-through: Low probability high reward

#2
LITE 2026-06-12 $850.00 Call
Vol: 191
OI: 120
Vol/OI: 1.6x
IV: 101.5%
Notional: ~$611K
Intent: Bullish speculation
Dual read: Hedging vs directional bet

Read-through: Expects rise above 850

#3
LITE 2026-06-12 $900.00 Call
Vol: 3,163
OI: 2,077
Vol/OI: 1.5x
IV: 98.3%
Notional: ~$4.3M
Intent: Large bullish position
Dual read: Accumulation vs short covering

Read-through: Strong upside conviction

Institutional Positioning

Call additions: Calls being added at 850-960 strikes (unusual prints, high IV)

Put additions: Puts OI concentrated 6.2% below spot at ~800, possible hedging

GEX/DEX consistency: Mixed: GEX negative (-$2.8M) but DEX long (+7M shares), suggests delta hedging from short gamma

OI clusters: Put OI cluster ~800 (gamma flip), call OI likely at 850-900+ but less concentrated

Hedging evidence: Put OI concentration points to downside hedging via puts

Max pain context: Spot below MP, pinning likely toward MP as expiration nears

Signal vs Noise

~Unusual call prints with moderate vol/oi ratio may be noise in high vol regime
~Negative GEX vs positive DEX highlights hedging friction as real signal

Key Conclusions

⚡Spot below MP with negative gamma suggests potential pin to max pain by expiry
🛡️Put OI concentration at 800 acts as gamma flip level; dealers hedge aggressively below
How to Use These Reports
This flow reflects the market close on June 10, 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.