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LITE

Lumentum Holdings Inc.Close $711.96EOD only
Max Pain
$780.00
Next expiry Jul 31, 2026
Expected Move
±$74.80
10.5% from close
Price Gap
+68.04
Distance to max pain
IV Rank
6
Low premium
P/C OI
1.44
Slightly put-heavy
Consensus
4.0/10
Bullish tilt
Published snapshot: Jul 27, 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
Jul 27, 2026 close
LITE Theta Report
Analysis based on market close June 11, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 11, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: N/A
Invalidation: Spot close below $800 or IV drop below 80%.
Confidence:
5 / 10
base 5; -1 GEX/flow contradict; +0.5 spot 1.2% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Avg IV 104% vs VIX 19.4, elevated.
Favorable?
No

Term structure: Mild contango 1d→7d, flattening; extreme put skew 149% vs call 102% on 1d.

🔴Negative GEX (-$307K) amplifies spot moves; hedgers may exacerbate trends.
🟣Put IV (149%) far exceeds call IV (102%) on 1d expiry, signaling extreme downside fear.
🟢Max pain pins at $900 (6/12) and $880 (6/26) suggest potential pinning action.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-307K)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,161 (10.1% below spot)

OI concentrations: Max pain $900 (Jun12), $800 (Jun18), $880 (Jun26); put OI 6,161 at $800.

Verdict: Negative GEX and concentrated OI increase pin risk; spot likely reversion to $900.

Premium Opportunities

Risk Alerts

!Negative GEX amplifies moves.
!Extreme put skew implies tail risk.
!Spot below max pain may push higher.
How to Use These Reports
This theta reflects the market close on June 11, 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.