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LRCX

Lam Research CorporationClose $298.22EOD only
Max Pain
$280.00
Next expiry Sep 18, 2026
Expected Move
±$17.33
5.8% from close
Price Gap
-18.22
Distance to max pain
IV Rank
9
Low premium
P/C OI
1.16
Slightly put-heavy
Consensus
4.0/10
Range bias
Published snapshot: Sep 11, 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
Sep 11, 2026 close
LRCX Theta Report
Analysis based on market close June 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 15, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Premium Selling
Invalidation: Spot below $290 put wall or IV drop below 60
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 44.0% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
IV 86.6% >> VIX 16.2
Favorable?
Yes

Term structure: Front-end elevated (3d put IV 282%); contango from 11d

📉Put skew extreme: 3d put IV 282% vs call 203%
📍Max pain $270-325 far below spot, low pin risk
🛡️GEX +$18.5M positive, dealer hedging supports

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+18.5M)

Gamma flip: ~$290.00 — Approx — based on put OI concentration of 22,917 (25.4% below spot)

OI concentrations: Put OI 22.9K at ~$290 (25.4% below spot); call walls $365-412

Verdict: Low pin risk: wide MP-spot gap, strong GEX positive

Premium Opportunities

#1
Put credit spread
Sell 2026-07-10 $340.00/$310.00 put spread
Sells out-of-the-money put spread to capture elevated put premium with defined risk.
Credit: $4.43-$5.42
Max loss: $24.58
BE: $334.58
Mgmt: Close at 50% profit or if spot breaches $341.25.
#2
Iron condor
Sell 2026-08-21 $330.00/$290.00 put wing and $520.00/$540.00 call wing
Sells both put and call wings in post-earnings expiry for time decay and IV contraction.
Credit: $11.84-$14.47
Max loss: $25.53
BE: 315.53 / 534.47
Mgmt: Use GTC limit at midpoint; close at 50% profit or if spot nears wings. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Open interest below 25.

Risk Alerts

!Spot 44% above max pain
!Front-week put skew extreme
How to Use These Reports
This theta reflects the market close on June 15, 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.