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LITE

Lumentum Holdings Inc.Close $875.36EOD only

Max Pain

$800.00

Next expiry Jun 18, 2026

Expected Move

±$55.90

6.4% from close

Price Gap

-75.36

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.32

Slightly put-heavy

Consensus

4.0/10

Consensus signal

Published snapshot: Jun 16, 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 16, 2026 close

LITE Theta Report

Analysis based on market close June 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

3.5 / 10

base 5; -1 GEX/flow contradict; -1 spot 8.7% from MP; +0.5 VIX 18

IV Environment

IV Regime

High

IV vs VIX

Very high (110% vs 18.4 VIX)

Favorable?

Term structure: Steep near-term contango, front-month IV 71% decaying to 89% at 9 days; elevated skew

📉IV elevated but gamma risk extreme near expiry

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Trending ($-3.3M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,751 (8.0% below spot)

OI concentrations: Concentrated put OI at $800 (7K) and call wall at $1000-$1020; max pain pins at $800, $890, $940

Verdict: Moderate pin risk due to tight OI concentration gap around spot; theta decay high but gamma flip at $800

Premium Opportunities

Call diagonal

Sell 2026-07-17 $900.00 call / buy 2026-08-21 $950.00 call

Sell near-term call, buy later call to capture theta decay and IV drop post-earnings.

Debit: $31.46-$38.45

Max loss: $38.45

BE: Path-dependent

Mgmt: Exit if spot breaks below $850 invalidation. Consider rolling if IV collapses.

Put diagonal

Sell 2026-07-17 $790.00 put / buy 2026-08-21 $900.00 put

Sell front-month put, buy later put to benefit from put skew normalization.

Debit: $94.10-$115.01

Max loss: $115.01

BE: Path-dependent

Mgmt: Manage delta exposure; exit if spot rises above $850. Liquidity warning: Liquidity constraints: long_put: Volume below 5.

Risk Alerts

!Negative dealer gamma ($-3.3M) amplifies spot moves

!High IV (avg ~110%) with looming max-pain expiry

!Put/Call OI ratio 1.31 suggests bearish skew

!Spot 8% above max pain, vulnerable to pinning

How to Use These Reports

This theta reflects the market close on June 17, 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.