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LRCX

Lam Research CorporationClose $374.80EOD only
Max Pain
$370.00
Next expiry Jun 26, 2026
Expected Move
±$23.27
6.2% from close
Price Gap
-4.80
Distance to max pain
IV Rank
15
Low premium
P/C OI
1.07
Balanced positioning
Consensus
4.5/10
Range bias
Published snapshot: Jun 24, 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 24, 2026 close
LRCX Theta Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short put spreads
Invalidation: Break below $370 support or below gamma flip at $340
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.6% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Avg IV 84% vs VIX 19 => extremely elevated
Favorable?
Yes

Term structure: Short-term put IV extremely high (134% on 1D), term structure steeply inverted for puts; premium selling favorable but watch gamma risk due to pinning

🔺Put IV at 135% on 1D expiration signals extreme fear
📈Positive gamma and bullish flow support premium selling

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+19.7M)

Gamma flip: ~$340.00 — Approx — based on put OI concentration of 22,678 (15.4% below spot)

OI concentrations: Put OI 22,678 at $340 (15% below spot); call OI wall at $460-$460

Verdict: Spot ~$402 above max pain ($370) but near put OI concentration; pin risk moderate. Dealer gamma positive reduces downside pin.

Premium Opportunities

#1
Call calendar
Sell 2026-07-24 $420.00 call / buy 2026-08-21 $420.00 call
Sell near-term call, buy back-month, capturing time decay and vol crush.
Debit: $14.96-$18.29
Max loss: $18.29
BE: Path-dependent
Mgmt: Close before earnings or roll if spot moves above short strike.
#2
Put credit spread
Sell 2026-07-31 $380.00/$375.00 put spread
Sell $380 put, buy $375 put. Max gain $2.67, risk below $370.
Credit: $2.18-$2.67
Max loss: $2.33
BE: $377.33
Mgmt: Exit if spot breaks $370 support. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.; long_put: Open interest below 25. Substitutions: long_put: resolved contract 2026-07-31 $377.50 missing; used 2026-07-31 $375.00.
#3
Cash-secured put
Sell 2026-07-31 $375.00 cash-secured put
Sell $375 put, collect $30.83 premium, potential entry at $344.17.
Credit: $25.22-$30.83
Max loss: $344.17
BE: $344.17
Mgmt: Roll if spot approaches $370; accept stock if below. Liquidity warning: Liquidity constraints: short_put: Open interest below 25. Substitutions: short_put: resolved contract 2026-07-31 $377.50 missing; used 2026-07-31 $375.00.

Risk Alerts

!Extreme IV in short-term puts
!Spot 8.6% from max pain
!High vol regime
How to Use These Reports
This theta reflects the market close on June 25, 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.