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MU

Micron Technology, Inc.Close $1048.51EOD only

Max Pain

$1050.00

Next expiry Jun 26, 2026

Expected Move

±$116.83

11.1% from close

Price Gap

+1.49

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.47

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 24, 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 24, 2026 close

MU Directional Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish tilt: dealer long gamma/delta, VIX 19 moderate; offset by spot far from MP and mixed flow.

Confidence:

7.5 / 10

Base 5 +2 GEX/flow +1 GEX -1 spot +0.5 VIX = 7.5

Supports: GEX +$71.9M, DEX +94.7M, VIX 19.
Conflicts: Spot 16.7% above MP, mixed flow.

🔶Dealer long gamma $71.9M supports mean-reversion

⚠️Spot 16.7% above MP reduces pin probability

📊VIX 19 provides supportive vol backdrop

Regime Classification

Vol Regime

High

High vol from event uncertainty, VIX 19.

Gamma Regime

Pinning

GEX +$71.9M positive; flip at $1000.

Flow Regime

Mixed

Mixed premium, no directional bias.

Spot vs Max Pain

Above

Spot 16.7% above max pain $1040.

Thesis duration: Multi-week — Dealer positioning supports range-bound upside.

Price Range Forecast

Next 2 days

$1186.11$1241.01

Upside to $1241

Next 1 week

$1146.71$1280.41

Drift to $1280

Next 2 weeks

$1120.81$1306.31

Range $1120-$1306, gamma flip $1000

Key Levels

Max pain pins: $1040 (2026-06-26); $1000 (2026-07-02); $1000 (2026-07-10)

EM guardrails: 2d $1186.11/$1241.01; 1w $1146.71/$1280.41

Support: $1120.81

Resistance: $1250.00 · $1306.31

Gamma flip: ~$1000.00 — Approx — based on put OI concentration of 16,893 (17.6% below spot)

Structural: Max pain $1040 (6/26), $1000 (7/2,7/10). EM guardrails: 2d $1186/$1241, 1w $1147/$1280. Support $1121, resistance $1250/$1306. Gamma flip ~$1000.

Dealer Positioning (GEX/DEX)

GEX: $+71.9M

DEX: +94.7M shares

Gamma flip: ~$1000 (Approx — based on put OI concentration of 16,893 (17.6% below spot))

NTM gamma: GEX +$71.9M, DEX +94.7M shares, gamma flip ~$1000.

IV Analysis

IV vs VIX: IV rich vs VIX 19, elevated event premium.

Term structure: Term structure steep with event kinks around weekly expiries.

Skew: Put skew elevated; consider calendar spreads.

Flow Analysis

Net premium: Net premium $3.4B positive: strong call buying dominates; put volume ratio 1.07 slightly bearish, OI ratio 1.49 heavy put OI likely hedging.

Directional prints: 90.3 call 1400 OTM 2026-07-02 — Vol 17346 vs OI 1237 (14x), large new call buying at high strike, bullish upside bet. 78 call 1235 OTM 2026-06-26 — Vol 4585 vs OI 265 (17.3x), new call buying near the money, bullish. 88.8 put 1200 OTM 2026-07-02 — Vol 7115 vs OI 133 (53.5x), large new put buying, likely hedge or bearish speculation.

Unusual: 179.1 put 675 OTM 2026-07-02 — Vol 25389 vs OI 273 (93x), extreme depth OTM, bought puts, bearish tail risk. 257.8 put 675 OTM 2026-06-26 — Vol 26087 vs OI 1275 (20.5x), massive volume, next-day expiry, extremely high IV, bought puts. 192.5 put 605 OTM 2026-07-02 — Vol 3669 vs OI 169 (21.7x), deep OTM put bought, bearish.

Risks & Catalysts

!Spot far from MP reduces pin probability

!Gamma flip at $1000 could accelerate

!Mixed flow lacks directional conviction

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Long call	Moderate-Strong	Buy 2026-07-17 $1210.00 call Why now: Net premium $3.4B positive, unusual call buying at 1400 strike, bullish tilt in thesis.	Time decay acceleration and volatility crush on negative catalysts.
Bull call spread	Moderate	Buy 2026-07-17 $1210.00/$1400.00 call spread Why now: Defined-risk bullish expression; lower capital outlay than outright call, still benefits from upward move.	Max profit capped at spread width; underlying must rise above short strike.
Put credit spread	Moderate	Sell 2026-07-10 $1090.00/$1015.00 put spread Why now: Bullish tilt, high implied vol, premium collection with capital efficiency.	Unexpected downside move beyond short put; gamma flip at $1000 could accelerate.
Call diagonal	Moderate-Weak	Sell 2026-07-10 $1240.00 call / buy 2026-07-24 $1260.00 call Why now: High IV skew near-term, back-month vol slightly lower; benefit from time decay on short leg.	Directional move too fast or large can hurt; skew can invert.

Top Plays

Long call

Buy 2026-07-17 $1210.00 call

Unlimited upside bet on MU with high leverage; aligns with large call flow.

Why this play: Directly exploits heavy unusual call buying at $1400 strike and bullish thesis.

Debit: $101.61-$124.19

Max loss: $124.19

BE: $1334.19

Mgmt: Monitor gamma risk; consider partial profits on rapid rally.

Aggressive traders seeking maximum upside exposure.

Bull call spread

Buy 2026-07-17 $1210.00/$1400.00 call spread

Captures upside to $1400 with limited capital; reduces risk of outright call.

Why this play: Defined-risk bullish play with lower cost; still benefits from upside.

Debit: $57.83-$70.68

Max loss: $70.68

BE: $1280.68

Mgmt: Exit if stock invalidates below $1120.81; roll if near expiration.

Traders wanting defined risk and moderate capital outlay.

Put credit spread

Sell 2026-07-10 $1090.00/$1015.00 put spread

Sells puts below support to profit from theta decay and bullish trend.

Why this play: Collects premium with bullish bias; high IV supports premium income.

Credit: $15.50-$18.95

Max loss: $56.05

BE: $1071.05

Mgmt: Close if stock breaks below $1090; avoid overshoot.

Income-focused traders expecting slow upward drift.

Watchlist Triggers

Entry Triggers

IFMU holds above $1120.81 support and bullish momentum intact → Buy 2026-07-17 $1210.00 call (Long call)

IFMU breaks above $1250 resistance with volume → Buy 2026-07-17 $1210.00/$1400.00 call spread (Bull call spread)

Exit Triggers

EXITMU closes below $1120.81 invalidation level → Close all bullish positions (Long call, Bull call spread, Put credit spread)

Tactical Summary

Bullish bias; support $1121, resistance $1250/$1306. Enter long call if holds above $1121, bull call spread on break above $1250. Invalid below $1120.81. Monitor $1000 gamma flip for acceleration. Manage put credit spread if below $1090. Multi-week duration.

How to Use These Reports

This directional 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.