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LRCX

Lam Research CorporationClose $366.81EOD only
Max Pain
$250.00
Next expiry Jun 18, 2026
Expected Move
±$15.27
4.2% from close
Price Gap
-116.81
Distance to max pain
IV Rank
100
High premium
P/C OI
1.14
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 12, 2026 close
End-of-day snapshot

This page reflects LRCX options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 12, 2026 close
LRCX Directional Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

Bullish bias: strong gamma pinning, high vol, but spot far from max pain. Confidence 8/10.

Confidence:
8 / 10
Base5; +2 GEX/flow; +1 GEX pin; -1 MP dist; +1 VIX18.
Supports: GEX, pinning, VIX, 1w range support.
Conflicts: Spot 14.6% above MP, mixed flow.
🔵+$25.3M GEX pinnings near $351-$382.
⚠️Spot 14.6% above MP ($320) risks mean reversion.

Regime Classification

Vol Regime
High
IV high vs typical; premium stories supported.
Gamma Regime
Pinning
+$25.3M GEX; flip at ~$290 (20.9% below spot).
Flow Regime
Mixed
Mixed net premium; GEX/flow aligned positively.
Spot vs Max Pain
Above
Spot 14.6% above max pain ($320).
Thesis duration: Multi-week — Multi-week due to extended price ranges and no event catalyst.

Price Range Forecast

Next 1 week
$351.53$382.08
GEX pinning, support $351.53.
Next 2 weeks
$323.61$410.01
Wider range $323-$410, test resistance $370.

Key Levels

Max pain pins: $320 (2026-06-12); $250 (2026-06-18); $310 (2026-06-26)
EM guardrails: 1w $351.53/$382.08
Support: $323.61
Resistance: $370.00 · $410.01
Gamma flip: ~$290.00 — Approx — based on put OI concentration of 22,917 (20.9% below spot)
Structural: MP $320/$250/$310; EM guardrails $351/$382; sup $323; res $370/$410; flip ~$290.

Dealer Positioning (GEX/DEX)

GEX: $+25.3M

DEX: +23.6M shares

Gamma flip: ~$290 (Approx — based on put OI concentration of 22,917 (20.9% below spot))

NTM gamma: NTM GEX +$25.3M; flip $290 (22.9K puts).

IV Analysis

IV vs VIX: IV high vs VIX18; premium rich.

Term structure: Steep with OPEX kinks Jun18/Jun26.

Skew: Put elevated; short put spread at support $323.

Flow Analysis

Net premium: Net premium $88.6M with put/call volume ratio 1.03, indicating slight put bias or neutral.

Directional prints: 71.7 put 342.5 OTM 2026-06-18 — Vol/OI 15.8 suggests aggressive put buying, bearish downside bet. 75.7 call 460 OTM 2026-07-17 — Vol/OI 12.7 suggests aggressive call buying, bullish speculation. 69.3 call 385 OTM 2026-06-18 — Vol/OI 10.7 suggests bullish call buying.

Unusual: 85.3 put 140 OTM 2026-12-18 — Deep OTM put vol/OI 6.2, likely hedging long exposure. 69.3 put 357.5 OTM 2026-06-18 — Near the money put vol/OI 9.9, possibly protective. 79.3 call 450 OTM 2026-09-18 — Long dated call vol/OI 3.5, speculative bullish.

Risks & Catalysts

!MP mean reversion $320
!Gamma flip below $290
!Mixed flow
!Macro vol

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bull call spreadModerate-Strong
Buy 2026-08-21 $360.00/$430.00 call spread
Why now: High IV provides premium for OTM call sale, net debit affordable, theta decay post-earnings.
Delta risk if spot falls; max loss limited to debit paid.
Put credit spreadModerate-Weak
Sell 2026-08-21 $330.00/$290.00 put spread
Why now: High IV elevates put premiums, defined risk below support.
Spot can break below short put; use defined wings. Liquidity constraints: short_put: Volume below 5.

Top Plays

#1
Bull call spread
Buy 2026-08-21 $360.00/$430.00 call spread
Captures upside move with defined risk and cost, selling OTM call reduces net debit.
Why this play: Directly aligns with bullish bias, high IV boosts premium received from short call, theta decay post-earnings favors this debit spread. Liquidity pass ensures execution.
Debit: $22.50-$27.50
Max loss: $27.50
BE: $387.50
Mgmt: Exit at 50% max gain or at expiration. Roll if spot nears short strike.
Bullish traders seeking leveraged upside with capped risk.
#2
Put credit spread
Sell 2026-08-21 $330.00/$290.00 put spread
Sells put premium with defined risk below support, profits from sideways to bullish movement.
Why this play: Also benefits from bullish bias and high IV, but liquidity fail makes execution less reliable. Effective as alternative if call spread not available.
Credit: $12.56-$15.35
Max loss: $24.65
BE: $314.65
Mgmt: Close if spot falls below short strike, or at 50% max profit. Liquidity warning: Liquidity constraints: short_put: Volume below 5.
Income-focused traders comfortable with lower upside potential.

Watchlist Triggers

Entry Triggers
IFIF LRCX spot breaks and holds above 370 resistance, THEN → enter bull call spread 360/430 for net debit 22.5-27.5
Adjustment Triggers
ADJIF LRCX spot reaches 410.01, THEN → close 50% of bull call spread or roll short call up
Exit Triggers
EXITIF LRCX spot closes below 323.61 support, THEN → exit bull call spread at max loss of 27.5

Tactical Summary

Bullish bias with strong gamma pinning, spot far from max pain. Key support 323.61, resistance 370 then 410.01. Preferred entry on break above 370 via bull call spread (360/430). Invalidation below 323.61. Multi-week duration, risk of mean reversion to $320 and gamma flip below $290.
How to Use These Reports
This directional 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.