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LITE

Lumentum Holdings Inc.Close $921.56EOD only
Max Pain
$800.00
Next expiry Jun 18, 2026
Expected Move
±$89.65
9.7% from close
Price Gap
-121.56
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
1.31
Slightly put-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 12, 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 12, 2026 close
LITE Theta Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short put spread
Invalidation: Spot below $800 or above $1000
Confidence:
6 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 18

IV Environment

IV Regime
High
IV vs VIX
IV at 102.6% vs VIX 17.7 – elevated
Favorable?
Yes

Term structure: 0DTE IV skewed (calls 101.9%, puts 177.6%); weeks out ~88-92%, gradually rising to ~98-100%

📈IV avg 102.6% offers rich premium
⚠️0DTE put skew 177.6% signals tail risk

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+4.0M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,159 (13.2% below spot)

OI concentrations: Put OI 6,159 at $800 (13.2% below spot); call wall $1000; max pain $900

Verdict: Spot above max pain; pinning pull to $900 possible; gamma flip at $800 as downside floor

Premium Opportunities

#1
Call credit spread
Sell 2026-07-17 $1130.00/$1230.00 call spread
Exploits elevated IV via OTM call spread, capitalizing on call wall at $1000.
Credit: $14.36-$17.55
Max loss: $82.45
BE: $1147.55
Mgmt: Set stop if spot breaches $1000; avoid holding to expiration. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Volume below 5.
#2
Put diagonal
Sell 2026-07-10 $895.00 put / buy 2026-08-21 $910.00 put
Sells high-IV short put, buys longer-dated put for protection; profits from time decay if spot stays above $895.
Debit: $62.51-$76.40
Max loss: $76.40
BE: Path-dependent
Mgmt: Close near-term leg if spot drops below $900; roll if needed. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.
#3
Call diagonal
Sell 2026-07-10 $1090.00 call / buy 2026-08-21 $910.00 call
Sells near-term call at $1090, buys deep ITM call; benefits from time decay and directional move.
Debit: $112.95-$138.05
Max loss: $138.05
BE: Path-dependent
Mgmt: Monitor theta decay; adjust strikes if spot moves above $1000. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Risk Alerts

!Extreme put skew on 0DTE expiration
!Gamma flip at $800 may trigger rapid move
!Call wall at $1000 resists upside
How to Use These Reports
This theta reflects the market close on June 12, 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.