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LRCX

Lam Research CorporationClose $388.92EOD only
Max Pain
$270.00
Next expiry Jun 18, 2026
Expected Move
±$23.25
6.0% from close
Price Gap
-118.92
Distance to max pain
IV Rank
100
High premium
P/C OI
1.14
Slightly put-heavy
Consensus
7.0/10
Bearish tilt
Published snapshot: Jun 15, 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 15, 2026 close
LRCX Earnings Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

LRCX earnings 43 days out; 100% beat rate; high IV; large call gamma pinning near $370.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 36.8% from MP; +1 VIX 16
Most important: Massive deep ITM call sweeps on 6/18 exp suggest aggressive hedging; major put open interest at $340 for Sep.
🛡️Large put buying on Sep $340 suggests hedged downside
📈100% beat rate supports upside

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 23,027 (21.5% below spot)

Earnings Overview

Next earnings: 2026-07-29 (43 days)explicit

Expected moves:

  • 2026-06-18 (2d): ±$17.65 (4.8%)
  • 2026-06-26 (10d): ±$36.58 (9.9%)
  • 2026-07-02 (16d): ±$43.55 (11.8%)

IV Setup

Term structure: Front-end elevated (2d ±4.8%, 10d ±9.9%, 16d ±11.8%), back-end steady.

Crush estimate: Moderate crush post-earnings; IV likely drop 5-10 points.

Skew: Put skew elevated; Sep $340 put volume spike.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: N/A (no data)

Directional bias: Bullish bias from 100% beat rate

Key Levels

1$290.00 gamma flip
2EM guardrails: 2d $351.69/$386.99; 1w $332.76/$405.91
3Max pain pins: $270 (2026-06-18); $330 (2026-06-26); $325 (2026-07-02)

Flow Highlights

Massive deep ITM call sweeps on 6/18 exp strikes $85-$195 (vol/OI ~3x+)

Likely hedging or synthetic long positions; suggests bullish conviction.

Sep $340 put volume 22858 vs OI 156 (vol/OI 146x)

Large put buying for earnings tail risk; bearish hedge.

Strategies

Bull call spread
Buy 2026-08-21 $370.00/$380.00 call spread
Debit: $4.12-$5.03
Max loss: $5.03
Max gain: $4.97
BE: $375.03
Trigger: Exit if price falls below $325.79 invalidation level.
100% beat rate and bullish bias; limited cost and risk; liquid.
Outperforms: Buy $370/$380 call spread for Aug expiration, capturing upside with defined risk.
Underperforms: Loss of support weakens upside continuation thesis.
Iron condor
Sell 2026-07-02 $325.00/$315.00 put wing and $370.00/$380.00 call wing
Credit: $5.20-$6.35
Max loss: $3.65
Max gain: $6.35
BE: 318.65 / 376.35
Trigger: Manage if price breaks wings; defined risk limits loss. Liquidity warning: Liquidity constraints: short_call: Volume below 5.
High IV premium and range-bound expectation from 100% beat rate.
Outperforms: Sell put wing $325/$315 and call wing $370/$380 near Jul 2 expiry.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Earnings move may exceed implied due to high IV and gamma pinning
!Unusual put activity on Sep $340 suggests downside risk
!Market context: QQQ -1.9%, SPY -0.6% adds caution

What to Watch

?Gamma flip level ~$290; max pain $270 (6/18), $330 (6/26), $325 (7/2)
?Net premium +$1.06B; large put OI at $220-$300
How to Use These Reports
This earnings 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.