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LRCX

Lam Research CorporationClose $371.33EOD only
Max Pain
$370.00
Next expiry Jun 26, 2026
Expected Move
±$27.25
7.3% from close
Price Gap
-1.33
Distance to max pain
IV Rank
14
Low premium
P/C OI
1.09
Balanced positioning
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 23, 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 23, 2026 close
LRCX Earnings Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

LRCX 35 days to earnings, high confidence due to strong flow and 100% beat rate. Watch max pain $370.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.3% from MP; +0.5 VIX 19
Most important: Large call sweep at $385 signals bullish positioning near resistance.
🚨Large $385 call sweep (17.8x OI ratio) signals bullish stance.
⚠️Deep OTM $250 puts active; tail risk hedge or bearish spec.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$340.00 — Approx — based on put OI concentration of 22,668 (9.3% below spot)

Earnings Overview

Next earnings: 2026-07-29 (35 days)explicit

Expected moves:

  • 2026-06-26 (2d): ±$23.28 (6.2%)
  • 2026-07-02 (8d): ±$38.07 (10.2%)
  • 2026-07-10 (16d): ±$49.82 (13.3%)

IV Setup

Term structure: Elevated front-end, backwardation from 2d to 8d (>6% to 10% implied moves). Long-dated IV elevated.

Crush estimate: Expected moderate crush post-earnings (30-50% of implied vol).

Skew: Put skew elevated at longer tenors; near-term puts priced for downside.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Past 5 quarterly moves averaged +7% vs implied ±6%, consistent upside.

Directional bias: Bullish

Key Levels

1$340.00 gamma flip
2EM guardrails: 2d $351.52/$398.07; 1w $336.72/$412.87
3Max pain pins: $370 (2026-06-26); $350 (2026-07-02); $350 (2026-07-10)

Flow Highlights

Sweep of 7,144 contracts of 6/26 $385 calls (17.8x OI).

Aggressive bullish bet near high gamma zone; likely institutional positioning.

Large 7/17 $250 put volume (5,970 vs 968 OI).

Deep OTM put buying for tail risk hedge, bearish but remote.

Strategies

Bullish Call Spread
Buy 2026-07-31 $375.00/$445.00 call spread
Debit: $20.74-$25.36
Max loss: $25.36
Max gain: $44.64
BE: $400.36
Trigger: Exit if price drops below $370 invalidation level. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.; short_call: Open interest below 25.
Directly profits from expected bullish move, limited risk, aligns with call sweep and max pain.
Outperforms: Buy $375 call, sell $445 call to capture upside to resistance.
Underperforms: Loss of support weakens upside continuation thesis.
Long Strangle
Buy 2026-07-31 $340.00 put + buy $400.00 call
Debit: $47.07-$57.53
Max loss: $57.53
Max gain: Unlimited
BE: 282.47 / 457.53
Trigger: Adjust if price moves beyond strikes. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
Captures high IV and potential large move, but less efficient given bullish bias.
Outperforms: Buy $340 put and $400 call to benefit from volatility expansion.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!High IV may contract sharply post-earnings.
!Call OI wall $400-$460 caps short-term upside.
!Put floor $240-$340 provides downside support.

What to Watch

?Earnings on 7/29.
?Price action near $370 max pain and $385 call strike.
?Call OI buildup at $400 level.
How to Use These Reports
This earnings reflects the market close on June 24, 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.