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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 Earnings Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

LRCX setup: 100% beat rate, bullish call flow, but spot far from max pain and high VIX add caution.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 14.6% from MP; +1 VIX 18
Most important: 100% beat rate & $385/$460 call buying suggest upside, but put hedging tempers conviction.
🔮100% beat rate over 5 quarters – consistent delivery.
⚠️Heavy put buying at 342.5 & 357.5 signals hedging; net put flow elevated.
📊Net premium $88.6M positive but put/call OI ratio 1.14 – mixed.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$290.00 — Approx — based on put OI concentration of 22,917 (20.9% below spot)

Earnings Overview

Next earnings: 2026-07-29 (47 days)explicit

Expected moves:

  • 2026-06-18 (6d): ±$15.28 (4.2%)
  • 2026-06-26 (14d): ±$43.20 (11.8%)
  • 2026-07-02 (20d): ±$27.38 (7.5%)

IV Setup

Term structure: Upward sloping: 6d IV ~69%, 14d ~70%, longer 75-85%.

Crush estimate: Moderate post-earnings crush expected (47d away).

Skew: Steep put skew; deep OTM puts active, esp. $140 put.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not available; expected moves: 6d ±4.2%, 14d ±11.8%, 20d ±7.5%.

Directional bias: 100% beat rate (5/5 quarters) suggests consistent upside.

Key Levels

1$290.00 gamma flip
2EM guardrails: 1w $351.53/$382.08
3Max pain pins: $320 (2026-06-12); $250 (2026-06-18); $310 (2026-06-26)

Flow Highlights

Unusual put volume at $342.5 (6/18) with 15.8x OI

Bearish hedge or downside speculation.

Large call buying at $460 (7/17) with 12.7x OI

Bullish bet on upside beyond current range.

Deep OTM $140 put (12/18) with 6.2x OI

Tail risk hedge, possibly institutional.

Strategies

Bull Call Spread
Buy 2026-08-21 $340.00/$450.00 call spread
Debit: $35.71-$43.64
Max loss: $43.64
Max gain: $66.36
BE: $383.64
Trigger: Exit below $323.61; profit near $450.
100% beat rate and bullish flow; after-earnings expiry captures drift.
Outperforms: Bullish spread with defined risk.
Underperforms: Loss of support weakens upside continuation thesis.
Short Strangle
Sell 2026-07-17 $340.00 put + sell $380.00 call
Credit: $44.69-$54.62
Max loss: Unlimited
Max gain: $54.62
BE: 285.38 / 434.62
Trigger: Monitor delta; roll/hedge near strikes.
High IV and term structure favor premium; mixed sentiment managed.
Outperforms: Sells OTM options for premium.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Iron Condor
Sell 2026-07-10 $350.00/$345.00 put wing and $375.00/$380.00 call wing
Credit: $3.58-$4.37
Max loss: $0.63
Max gain: $4.37
BE: 345.63 / 379.37
Trigger: Keep delta neutral; close if illiquid. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25.; long_call: Volume below 5.
Term structure suggests range; liquidity pass false reduces appeal.
Outperforms: Sells wings for limited move profit.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Spot ~$365, 14% above max pain ($320); reversion risk.
!Earnings in 47 days; IV may expand, raising premium cost.
!High VIX (17.7) and put/call OI ratio >1 suggest mixed sentiment.

What to Watch

?EM guardrails: $351.53 support, $382.08 resistance.
?Resistance at $370 and $410.01; support at $323.61.
?Gamma flip at $290; large put OI below.
How to Use These Reports
This earnings 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.