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LRCX

Lam Research CorporationClose $389.04EOD only

Max Pain

$347.50

Next expiry Jun 26, 2026

Expected Move

±$34.45

8.9% from close

Price Gap

-41.54

Distance to max pain

IV Rank

100

High premium

P/C OI

1.32

Slightly put-heavy

Consensus

7.0/10

Downside lean

Published snapshot: Jun 18, 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 18, 2026 close

LRCX Flow Report

Analysis based on market close June 18, 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 14.4% from MP; +1 VIX 16

Watch next session: $340 gamma flip; Unusual put activity decay; Net premium direction

Flow Summary

Net premium: +$271.7M bullish

P/C volume ratio: 1.34

P/C OI ratio: 1.32

LRCX shows heavy put buying in long-dated tails, but positive GEX and large net premium suggest bullish positioning. Dealers are long gamma, supporting near-term stability. Bias is Bullish, but caution on deep OTM puts.

Notable Prints

LRCX 2026-08-21 $240.00 Put

Vol: 12,986

OI: 653

Vol/OI: 19.9x

IV: 85.4%

Notional: ~$5.1M

Intent: Bearish hedge or speculation on deep downside

Dual read: Could be selling puts for premium in high IV

Read-through: Expects significant drop or hedging tail risk

LRCX 2026-06-26 $370.00 Put

Vol: 2,788

OI: 323

Vol/OI: 8.6x

IV: 71.0%

Notional: ~$2.5M

Intent: Protective put or bearish bet near ATM

Dual read: Short put to collect premium with pinning

Read-through: Hedging against near-term drop

LRCX 2026-12-18 $140.00 Put

Vol: 4,034

OI: 653

Vol/OI: 6.2x

IV: 88.5%

Notional: ~$1.6M

Intent: Long-term bearish hedge

Dual read: Sold put for premium on low probability

Read-through: Expects severe decline or insurance

LRCX 2026-06-18 $410.00 Call

Vol: 2,409

OI: 989

Vol/OI: 2.4x

IV: 46.1%

Notional: ~$7K

Intent: Lottery ticket OTM call

Dual read: Sold call for premium, low chance of ITM

Read-through: Bullish but small position

LRCX 2026-06-26 $420.00 Call

Vol: 219

OI: 106

Vol/OI: 2.1x

IV: 70.5%

Notional: ~$140K

Intent: Bullish speculation on rally

Dual read: Covered call writing

Read-through: Expects upside above 420

Institutional Positioning

Call additions: Light; small OTM call buys at 410/420, but low volume suggests retail.

Put additions: Heavy; large put sweeps at 240, 140, 370, 300 strikes, often with vol/OI >6, indicating institutional hedging.

GEX/DEX consistency: Mixed; GEX +$21.2M positive, DEX +21.9M long delta, but heavy put flow contradicts bullish delta positioning.

OI clusters: Puts: 240 (22,654 OI), 140 (653), 370; Calls: 410 (989). Gamma flip at 340 suggests key support.

Hedging evidence: Strong; multiple long-dated puts (2026-2027) added, indicating downside hedge/ speculation, not short-term directional.

Max pain context: Spot above MP (~340-360?), pinning gamma at 340; puts building below that level.

Signal vs Noise

~Large put volume with low OI (e.g., $240 put 19.9x, $140 put 6.2x) is real hedging, not noise.

~Modest OTM call volume (e.g., $410 call 2.4x) likely retail, not institutional signal.

~VIX 16 and QQQ +2.5% indicate broad strength, but LRCX-specific put flow stands out as bearish signal.

~Spot 14.4% from MP suggests pinning effect, but heavy put flow undermines that; treat as bearish divergence.

Key Conclusions

🛡️Institutions piling into puts across expirations, signaling significant downside hedging; LRCX vulnerable below $340 gamma flip.

⚖️Positive GEX vs heavy put flow creates a tension; put dominance likely to overwhelm gamma pin above $340.

📉Unusual put sweeps at $240 (2028) and $140 (2026) imply bearish outlook extending years; not short-term noise.

How to Use These Reports

This flow reflects the market close on June 18, 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.