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LRCX

Lam Research CorporationClose $374.80EOD only
Max Pain
$370.00
Next expiry Jun 26, 2026
Expected Move
±$23.27
6.2% from close
Price Gap
-4.80
Distance to max pain
IV Rank
15
Low premium
P/C OI
1.07
Balanced positioning
Consensus
4.5/10
Range bias
Published snapshot: Jun 24, 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 24, 2026 close
LRCX Earnings Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Bullish flow and 100% beat rate, but high IV and large expected moves warrant caution.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.6% from MP; +0.5 VIX 19
Most important: Gamma flip at $340 and put floor $240-340 are key risk zones.
📊100% beat rate over 5 quarters; strong fundamental momentum.
⚠️Aug $360 put volume 44x OI signals downside hedging.
🎯Spot above MP; pinning likely at $370 this week.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$340.00 — Approx — based on put OI concentration of 22,678 (15.4% below spot)

Earnings Overview

Next earnings: 2026-07-29 (34 days)explicit

Expected moves:

  • 2026-06-26 (1d): ±$14.70 (3.7%)
  • 2026-07-02 (7d): ±$36.62 (9.1%)
  • 2026-07-10 (15d): ±$51.50 (12.8%)

IV Setup

Term structure: Contango: 1d ±3.7%, 7d ±9.1%, 15d ±12.8%.

Crush estimate: Significant post-earnings crush expected; IV likely drops 10-15 points.

Skew: Put OI concentrated at $340 (floor); call wall at $460.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: 100% beat rate suggests moves may be smaller than implied.

Directional bias: Bullish bias given consistent beats and positive flow.

Key Levels

1$340.00 gamma flip
2EM guardrails: 2d $387.12/$416.52; 1w $365.20/$438.45
3Max pain pins: $370 (2026-06-26); $350 (2026-07-02); $350 (2026-07-10)

Flow Highlights

Massive Aug $360 put volume (5120 vs OI 115) suggests hedging/directional bet.

Bearish sentiment on longer timeframe; likely hedging against downside.

Strong call activity at $402.5-$440 strikes for near-term expirations.

Bullish positioning ahead of earnings, but may be covered calls.

Strategies

Long Strangle
Buy 2026-07-31 $365.00 put + buy $480.00 call
Debit: $37.15-$45.40
Max loss: $45.40
Max gain: Unlimited
BE: 319.60 / 525.40
Trigger: Exit before earnings if IV drops; set stop-loss to limit premium decay. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
Only eligible strategy; captures large move with lower premium than straddle.
Outperforms: Buys $365 put and $480 call to profit from significant post-earnings volatility.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!IV elevated (VIX 19) and 15d expected move 12.8%.
!Gamma flip at $340; spot above MP could trigger pinning.
!Put OI floor at $240-$340 provides support but wide range.

What to Watch

?Spot level vs $370 max pain and $340 gamma flip.
?Earnings date: 2026-07-29; pre-earnings positioning shifts.
?Unusual put volume in Aug expiry for directional clues.
How to Use These Reports
This earnings reflects the market close on June 25, 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.