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MU

Micron Technology, Inc.Close $935.89EOD only

Max Pain

$925.00

Next expiry Jun 12, 2026

Expected Move

±$83.90

9.0% from close

Price Gap

-10.89

Distance to max pain

IV Rank

High premium

P/C OI

1.47

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 9, 2026 close

End-of-day snapshot

This page reflects MU options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 9, 2026 close

MU Directional Report

Analysis based on market close June 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish thesis supported by dealer long gamma pinning near $925 Max Pain and spot above MP. High vol offers option selling opportunities but event risk remains.

Confidence:

9 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; +0.5 spot 1.2% above MP; +0.5 VIX at 19.87. High vol adds uncertainty but within normal range.

Supports: Strong dealer gamma long, spot above Max Pain, positive GEX/flow alignment.
Conflicts: Mixed flow and high vol could trigger rapid repositioning.

📌Max Pain $925 pinning likely into expiry

⚡High vol regime with VIX 19.87 supports event premium

🛡️Gamma flip at $730 far below spot, strong downside protection

Regime Classification

Vol Regime

High

IV elevated due to event. VIX at 19.87 confirms above-average volatility.

Gamma Regime

Pinning

GEX +$21.7M, dealers long gamma pinning near $925. Gamma flip at $730.

Flow Regime

Mixed

Mixed flow; net premium context balanced.

Spot vs Max Pain

Above

Spot above Max Pain ($925) for nearest expiry, bullish alignment.

Thesis duration: Event-specific — Upcoming weekly expiry on 6/12 with Max Pain $925, supported by strong GEX. High vol and mixed flow suggest event-driven positioning.

Price Range Forecast

Next 2 days

$851.99$1019.79

Bias toward resistance $1000.

Next 1 week

$809.32$1062.47

Expiry pinning near $925.

Next 2 weeks

$753.09$1118.69

Broader range, potential breakout post-event.

Key Levels

Max pain pins: $925 (2026-06-12); $470 (2026-06-18); $900 (2026-06-26)

EM guardrails: 2d $851.99/$1019.79; 1w $809.32/$1062.47

Support: $925.00 · $753.09

Resistance: $1000.00 · $1118.69

Gamma flip: ~$730.00 — Approx — based on put OI concentration of 16,759 (22.0% below spot)

Structural: Support: $925 (Max Pain), $753; Resistance: $1000, $1118. Gamma flip $730.

Dealer Positioning (GEX/DEX)

GEX: $+21.7M

DEX: +97.4M shares

Gamma flip: ~$730 (Approx — based on put OI concentration of 16,759 (22.0% below spot))

NTM gamma: Dealers long gamma ($+21.7M GEX), pinning near $925. Gamma flip at $730 provides downside cushion.

IV Analysis

IV vs VIX: IV elevated vs VIX, event premium embedded.

Term structure: Contango with elevated front-month due to event.

Skew: Put skew elevated; consider selling puts near support.

Flow Analysis

Net premium: Net premium $1.066B positive; put/call vol ratio 0.94 (call bias) but OI ratio 1.47 (put-heavy), indicating aggressive short-dated call buying.

Directional prints: 108.6 call 910 ITM 2026-06-12 — Volume 6147 vs OI 536 (11.5x), heavy call buying; likely bullish positioning. 108.8 call 905 ITM 2026-06-12 — Volume 5276 vs OI 285 (18.5x), aggressive call accumulation; bullish. 105.3 call 920 ITM 2026-06-12 — Volume 4391 vs OI 565 (7.8x), sustained call buying; bullish.

Unusual: 110.1 call 895 ITM 2026-06-12 — Vol/OI 17.9x, extreme call volume; potentially aggressive bullish. 109.5 call 902.5 ITM 2026-06-12 — Vol/OI 13.9x, significant call accumulation; bullish. 109.3 put 905 OTM 2026-06-12 — Vol/OI 10.7x, unusual put volume amid net call buying; possible hedging.

Risks & Catalysts

!Event risk from earnings or macro

!Dealer gamma flip if spot breaks $730

!Mixed flow could signal distribution

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-26 $950.00/$970.00 call spread Why now: High IV offers cheap upside; expect move above $950 post-earnings.	Max loss limited to debit paid; theta decay if flat.
Put credit spread	Moderate	Sell 2026-06-26 $920.00/$910.00 put spread Why now: Sell put spread at 920/910 to collect elevated IV; spot above Max Pain.	If spot drops below 920, capped loss; assignment risk on short leg.
Call diagonal	Conditional	Sell 2026-06-26 $970.00 call / buy 2026-08-21 $950.00 call Why now: Term structure elevates near-term vol; bullish but cap upside for credit.	Upside capped; if stock surges, short call losses may exceed long call gains.

Top Plays

Bull call spread

Buy 2026-06-26 $950.00/$970.00 call spread

Buy 950/970 call spread to capture earnings move above 950.

Why this play: Highest upside leverage with cheap entry due to elevated IV; aligns with bullish thesis and call flow.

Debit: $7.58-$9.27

Max loss: $9.27

BE: $959.27

Mgmt: Exit if spot closes below 925 or near expiration if not ITM.

Traders seeking directional upside with defined risk.

Put credit spread

Sell 2026-06-26 $920.00/$910.00 put spread

Sell 920/910 put spread to benefit from spot staying above 920.

Why this play: Collects premium from high IV while staying above Max Pain; lower risk but limited profit.

Credit: $3.60-$4.40

Max loss: $5.60

BE: $915.60

Mgmt: Close if spot drops near 920 or if IV collapses.

Traders wanting income with bullish-neutral outlook.

Call diagonal

Sell 2026-06-26 $970.00 call / buy 2026-08-21 $950.00 call

Sell near-term 970 call, buy later 950 call for bullish-yet-capped view.

Why this play: Uses term structure to cheapen upside but caps gains; less direct.

Debit: $73.58-$89.93

Max loss: $89.93

BE: Path-dependent

Mgmt: Roll or adjust if spot moves above 970 or below 925.

Traders expecting moderate upside with time to expiration.

Watchlist Triggers

Entry Triggers

IFSpot above $925 and spread ask within 7.58-9.27 → Enter mu_bull_call_1 (buy 950/970 call spread)

Adjustment Triggers

ADJSpot drops to $920 → Close mu_put_credit_1 (sell 920/910 put spread) to avoid loss

Exit Triggers

EXITSpot closes below $925 → Exit all strategies: close mu_bull_call_1, mu_put_credit_1, mu_call_diag_1

Tactical Summary

Bullish bias supported by Max Pain at $925. Top play: bull call spread (950/970) for upside. Defensive: put credit spread (920/910). Enter above $925, exit below. Adjust if spot nears 920 or 970. Event risk from earnings on 2026-06-24.

How to Use These Reports

This directional reflects the market close on June 9, 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.