thetaOwl
HomeOptionsLRCXReports

LRCX

Lam Research CorporationClose $302.28EOD only
Max Pain
$275.00
Next expiry Sep 25, 2026
Expected Move
±$7.67
2.5% from close
Price Gap
-27.28
Distance to max pain
IV Rank
1
Low premium
P/C OI
1.20
Slightly put-heavy
Consensus
4.0/10
Range bias
Published snapshot: Sep 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
Sep 21, 2026 close
LRCX Theta Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 23, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Premium selling
Invalidation: Spot breaks below $340 gamma flip
Confidence:
6 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.4% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV 85% vs VIX 19.5; premiums rich
Favorable?
Yes

Term structure: Near-term backwardated (87.7->79.1), then slight contango

📈High IV premium opportunity; near-term IV above 87%

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+1.7M)

Gamma flip: ~$340.00 — Approx — based on put OI concentration of 22,657 (8.4% below spot)

OI concentrations: Put OI 22.7k at $340, call wall $418-$460; max pain $370, $350

Verdict: Spot near MP $370; pin likely; gamma flip at $340 a risk

Premium Opportunities

#1
Iron condor
Sell 2026-07-24 $360.00/$350.00 put wing and $380.00/$390.00 call wing
Sell 360/350 put wing and 380/390 call wing to capture premium from elevated IV.
Credit: $7.94-$9.71
Max loss: $0.29
BE: 350.29 / 389.71
Mgmt: Monitor IV compression; exit if spot approaches wings. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Volume below 5.
#2
Put credit spread
Sell 2026-08-21 $360.00/$350.00 put spread
Sell 360/350 put spread to collect premium with defined risk.
Credit: $4.77-$5.83
Max loss: $4.17
BE: $354.17
Mgmt: Invalidate if spot breaks below $370; adjust or close.

Risk Alerts

!High IV may contract quickly
!Gamma flip zone at $340; watch for breakdown
How to Use These Reports
This theta reflects the market close on June 23, 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.