thetaOwl
HomeOptionsLRCXReports

LRCX

Lam Research CorporationClose $371.33EOD only
Max Pain
$370.00
Next expiry Jun 26, 2026
Expected Move
±$27.25
7.3% from close
Price Gap
-1.33
Distance to max pain
IV Rank
14
Low premium
P/C OI
1.09
Balanced positioning
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 23, 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 23, 2026 close
LRCX Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness9 / 10
Sizing: Moderate
Primary: Iron Condor
Invalidation: Spot breaks below $340 or above $400
Confidence:
6 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.3% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Avg IV 83.5% vs VIX 18.6 — elevated 4.5x, rich premiums.
Favorable?
Yes

Term structure: Front-end high (85.85% at 2DTE), declining to 77.27% at 16d, slight inversion in weeklies, contango later.

💹IV well above VIX, attractive for premium sellers.
⚠️Gamma pinning at $370; expiry risk elevated.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+4.2M)

Gamma flip: ~$340.00 — Approx — based on put OI concentration of 22,668 (9.3% below spot)

OI concentrations: Max pain $370 (2d), $350 (weekly); call wall $400-460; put floor $240-340; gamma flip $340.

Verdict: Pinning likely near $370 front week; structural support below $340.

Premium Opportunities

#1
Iron condor
Sell 2026-07-31 $325.00/$295.00 put wing and $460.00/$510.00 call wing
Sells OTM put and call wings to collect rich premium.
Credit: $12.92-$15.79
Max loss: $34.21
BE: 309.21 / 475.79
Mgmt: Close at 50% max gain or before earnings. Liquidity warning: Liquidity constraints: short_put: Volume below 5.; long_put: Volume below 5.; short_call: Open interest below 25.; long_call: Wide spread (54%).
#2
Put calendar
Sell 2026-07-17 $340.00 put / buy 2026-08-21 $340.00 put
Sells front put, buys back put to capitalize on vol normalization.
Debit: $13.84-$16.91
Max loss: $16.91
BE: Path-dependent
Mgmt: Monitor $370 pin; roll if spot approaches.
#3
Call diagonal
Sell 2026-07-24 $430.00 call / buy 2026-09-18 $330.00 call
Sells near call, buys deep call for short-term premium with long-term upside.
Debit: $59.65-$72.90
Max loss: $72.90
BE: Path-dependent
Mgmt: Adjust if stock breaks above $400. Liquidity warning: Liquidity constraints: short_call: Volume below 5.; long_call: Volume below 5.

Risk Alerts

!High IV (83.5%) vs VIX (18.6) may revert.
!Pinning at $370 could cause sharp moves.
!Put/call OI ratio 1.07 imbalance.
How to Use These Reports
This theta reflects the market close on June 24, 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.