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LRCX

Lam Research CorporationClose $302.24EOD only

Max Pain

$280.00

Next expiry May 22, 2026

Expected Move

±$9.50

3.1% from close

Price Gap

-22.24

Distance to max pain

IV Rank

High premium

P/C OI

1.05

Balanced positioning

Consensus

4/4

Partial coverage

Published snapshot: May 21, 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

May 21, 2026 close

LRCX Flow Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 7.1% from MP; +1 VIX 17

Watch next session: Hold above $300; Monitor $275 put activity

Flow Summary

Net premium: +$33.5M bullish

P/C volume ratio: 1.36

P/C OI ratio: 1.07

Positive GEX ($32.3M) and net premium support bullish bias, but high put volume ratio and elevated vol suggest caution. Gamma support at $240; break below could flip bias bearish. Watch call activity at $315 and $350.

Notable Prints

LRCX 2026-06-05 $275.00 Put

Vol: 672

OI: 167

Vol/OI: 4.0x

IV: 60.8%

Notional: ~$242K

Intent: Bearish hedge

Dual read: Speculative put

Read-through: Expects drop to 275

LRCX 2026-05-29 $350.00 Call

Vol: 419

OI: 138

Vol/OI: 3.0x

IV: 55.6%

Notional: ~$24K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

LRCX 2026-06-18 $380.00 Call

Vol: 559

OI: 209

Vol/OI: 2.7x

IV: 62.1%

Notional: ~$148K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

LRCX 2026-05-29 $265.00 Put

Vol: 576

OI: 245

Vol/OI: 2.4x

IV: 68.1%

Notional: ~$46K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

LRCX 2026-06-05 $315.00 Call

Vol: 562

OI: 263

Vol/OI: 2.1x

IV: 58.4%

Notional: ~$579K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Institutions added calls at 315 (6/5), 350 (5/29), 380 (6/18) – bullish skew near-term.

Put additions: Puts added at 275 (6/5), 265 (5/29), 305 (5/22 expiring), and deep OTM 71 (Jan 2027) – defensive hedging.

GEX/DEX consistency: GEX positive $32.3M, DEX +19M shares – consistent with gamma pinning and dealer long gamma.

OI clusters: Largest OI near 305 (today expiry), 315 (6/5 call), and 275 (6/5 put) – key levels.

Hedging evidence: Deep OTM put at 71 suggests tail hedge; high vol/oi ratio on 275 puts indicates institutional put buying.

Max pain context: Spot above max pain; gravity towards lower levels, but gamma flip at 240 suggests downside support if breached.

Signal vs Noise

~Real signal: consistent call additions at 315-380 and put hedges at 275-265 indicate institutional positioning for upside with downside protection.

~Noise: unusual deep OTM put at 71 (Jan 2027) likely noise due to far expiry and low liquidity; 305 put volume likely expiration hedging.

Key Conclusions

📊Institutions show mixed positioning: bullish call flow at 315-380 but defensive puts at 275-265 and tail hedge at 71.

🔒Positive GEX and DEX support pinning near current levels; gamma flip at 240 provides downside floor.

How to Use These Reports

This flow reflects the market close on May 22, 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.