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LRCX

Lam Research CorporationClose $409.54EOD only
Max Pain
$370.00
Next expiry Jun 26, 2026
Expected Move
±$32.23
7.9% from close
Price Gap
-39.54
Distance to max pain
IV Rank
16
Low premium
P/C OI
1.09
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 22, 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 22, 2026 close
LRCX Earnings Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

High conviction set-up with aggressive bull flow, 100% beat rate, spot at MP, 36d to go.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.4% from MP; +0.5 VIX 19
Most important: Massive 14.6x vol/OI on $400C 6/26 and positive net premium indicate strong bullish positioning ahead of earnings.
📈14.6x volume on $400C 6/26 signals aggressive bullish bet.
🛡️Put floor at $340 and $370 max pain offer support.
⚠️QQQ dropped 3.3% today; sector weakness risks long positions.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
At
Gamma flip: ~$340.00 — Approx — based on put OI concentration of 22,657 (8.4% below spot)

Earnings Overview

Next earnings: 2026-07-29 (36 days)explicit

Expected moves:

  • 2026-06-26 (3d): ±$27.25 (7.3%)
  • 2026-07-02 (9d): ±$40.72 (11.0%)
  • 2026-07-10 (17d): ±$51.90 (14.0%)

IV Setup

Term structure: Front-end elevated (88-92% for 6/26), decaying to ~75% by Dec.

Crush estimate: Expected IV crush post-earnings ~30-40% from front-month levels.

Skew: Put skew elevated below $340; call wall at $400-$460.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not explicitly provided; 100% beat rate suggests positive surprises.

Directional bias: Bullish bias on earnings beats.

Key Levels

1$340.00 gamma flip
2EM guardrails: 2d $344.08/$398.58; 1w $330.60/$412.05
3Max pain pins: $370 (2026-06-26); $350 (2026-07-02); $350 (2026-07-10)

Flow Highlights

Unusual 14.6x vol/OI on 6/26 $400C (8,848 vol vs 608 OI).

Aggressive short-dated bullish positioning, betting on near-term rally to $400+.

Net premium +$48.5M with call volume outpacing puts (P/C vol 0.89).

Overall bullish sentiment in options flow.

Strategies

Bull Call Spread on LRCX
Buy 2026-07-31 $380.00/$395.00 call spread
Debit: $5.38-$6.57
Max loss: $6.57
Max gain: $8.43
BE: $386.57
Trigger: Monitor near $370 invalidation; consider early exit if price surpasses $395. Liquidity warning: Liquidity constraints: short_call: Volume below 5.
Aligned with aggressive bull flow and 100% beat rate; defined risk and lower cost.
Outperforms: Leverages upside earnings move with limited risk.
Underperforms: Loss of support weakens upside continuation thesis.
Long Straddle on LRCX
Buy 2026-07-31 $370.00 put + buy $370.00 call
Debit: $71.73-$87.67
Max loss: $87.67
Max gain: Unlimited
BE: 282.33 / 457.67
Trigger: Set stop loss if IV contracts or price stays near $370. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
High implied vol and expected move; profits from significant move either direction.
Outperforms: Captures volatility expansion and large earnings move.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Time decay is moderate but accelerates near earnings.
!Volatility crush post-earnings could be significant.
!Broader market weakness (QQQ -3.3%) poses headwind.
!Pin risk at max pain $370 can cap upside near-term.

What to Watch

?Sustained call buying above $400 resistance.
?Price action around $340 put floor and $370 max pain.
?Volume on 7/2 and 7/10 options for earnings positioning.
?VIX level and QQQ recovery for sector sentiment.
How to Use These Reports
This earnings reflects the market close on June 23, 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.