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LITE

Lumentum Holdings Inc.Close $957.24EOD only
Max Pain
$800.00
Next expiry Jun 18, 2026
Expected Move
±$78.70
8.2% from close
Price Gap
-157.24
Distance to max pain
IV Rank
42
Middle-high premium
P/C OI
1.32
Slightly put-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: Jun 15, 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 15, 2026 close
LITE Theta Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness4 / 10
Sizing: Moderate
Primary: Put credit spreads
Invalidation: Break below gamma flip at 800
Confidence:
4 / 10
base 5; -1 GEX/flow contradict; -1 spot 9.4% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
IV at 109% vs VIX 16.4 – extremely elevated
Favorable?
Yes

Term structure: Slight contango, front-month IV ~88%

🔥IV 109% vs VIX 16.4 – rich for premium selling

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Trending ($-3.2M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,412 (8.6% below spot)

OI concentrations: Call OI wall $1000-$1020; Put floor $600-$800; Max pain pins at $800, $890, $950

Verdict: Significant OI concentrations, moderate pin risk near expiration

Premium Opportunities

#1
Put credit spread
Sell 2026-08-21 $860.00/$840.00 put spread
Sell put spread below support, premium from elevated IV
Credit: $9.31-$11.38
Max loss: $8.62
BE: $848.62
Mgmt: Exit if spot breaks 850 or IV collapses Liquidity warning: Liquidity constraints: long_put: Volume below 5. Substitutions: long_put: resolved contract 2026-08-21 $850.00 missing; used 2026-08-21 $840.00.
#2
Iron condor
Sell 2026-07-17 $860.00/$850.00 put wing and $900.00/$910.00 call wing
Sell wings around expected range, collect elevated IV premium
Credit: $7.20-$8.80
Max loss: $1.20
BE: 851.20 / 908.80
Mgmt: Manage at 50% max gain or if spot nears wings Liquidity warning: Liquidity constraints: long_call: Volume below 5.

Risk Alerts

!Gamma flip at 800
!High IV may compress if spot stabilizes
How to Use These Reports
This theta reflects the market close on June 16, 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.