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LRCX

Lam Research CorporationClose $310.53EOD only

Max Pain

$317.50

Next expiry Aug 21, 2026

Expected Move

±$8.82

2.8% from close

Price Gap

+6.97

Distance to max pain

IV Rank

Low premium

P/C OI

1.13

Slightly put-heavy

Consensus

4.0/10

Range bias

Published snapshot: Aug 20, 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

Aug 20, 2026 close

LRCX Theta 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.

You are viewing an older report from May 22, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Confidence:

8 / 10

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

IV Environment

IV Regime

High

IV vs VIX

IV 68% vs VIX 16.7, very elevated

Favorable?

Yes

Term structure: Steep contango from 13.7% to 54.5% in 7 days; front-week put IV at 308% unusually high

⚠️Front-week put IV 308% signals extreme fear, sell theta aggressively

📈Positive GEX $32.3M supports pinning at max pain

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+32.3M)

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 13,237 (21.4% below spot)

OI concentrations: Put OI 13,237 at $285 (21.4% below spot); call wall at $370

Verdict: High pin risk at $285 max pain with dealer gamma support

Premium Opportunities

Put credit spread

Sell 2026-06-18 $300.00/$290.00 put spread

Sell 300/290 put spread to capture elevated IV premium with defined risk.

Credit: $3.65-$4.46

Max loss: $5.54

BE: $295.54

Mgmt: Close at 50% max gain or if spot breaks 285 invalidation.

Call credit spread

Sell 2026-06-18 $320.00/$330.00 call spread

Sell 320/330 call spread to profit from resistance and falling IV.

Credit: $2.88-$3.52

Max loss: $6.48

BE: $323.52

Mgmt: Close at 50% max gain or if spot breaks above 310.

Risk Alerts

!Front-week IV spike may crash; avoid short-dated options

!Spot 7.1% from max pain; decay may not occur if spot stays elevated

How to Use These Reports

This theta 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.