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MU

Micron Technology, Inc.Close $698.74EOD only
Max Pain
$700.00
Next expiry May 22, 2026
Expected Move
±$58.15
8.3% from close
Price Gap
+1.26
Distance to max pain
IV Rank
50
Middle-high premium
P/C OI
1.31
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: May 19, 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
May 19, 2026 close
MU Earnings Report
Analysis based on market close May 19, 2026
DirectionalTheta GangFlowEarningsConsensus

Consensus-supported lens with chain history and key metrics in the rail.

Earnings Verdict

MU earnings setup: high IV, 100% beat rate, call activity near resistance. Event Jun 24.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.2% from MP; +0.5 VIX 18
Most important: Gamma pinning near $700 May expiry, but earnings 36d out keeps vols elevated.
📈100% historical beat rate; call flow suggests upside expectation.
⚠️High IV and put OI suggest hedging; 36d to earnings gives time decay risk.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
At
Gamma flip: ~$620.00 — Approx — based on put OI concentration of 17,414 (11.3% below spot)

Earnings Overview

Next earnings: 2026-06-24 (36 days)explicit

Expected moves:

  • 2026-05-22 (3d): ±$58.15 (8.3%)
  • 2026-05-29 (10d): ±$41.60 (6.0%)
  • 2026-06-05 (17d): ±$107.65 (15.4%)

IV Setup

Term structure: Near-term IV elevated (3d 8.3%), earnings week peak 15.4%.

Crush estimate: Post-earnings crush ~50-70%.

Skew: Put OI > Call OI by 30%; put skew pronounced.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Beat 4/4 quarters; avg move not provided.

Directional bias: Bullish historical bias.

Key Levels

1$620.00 gamma flip
2EM guardrails: 2d $640.59/$756.89; 1w $657.14/$740.34
3Max pain pins: $700 (2026-05-22); $660 (2026-05-29); $660 (2026-06-05)

Flow Highlights

Unusual $430 Put: 11,385 vol, 8.9 vol/oi at $0.15 - deep OTM hedge or lottery.

Indicates tail risk hedging or speculative put buying.

Call activity $690-$717.5 with vol/oi >7x - aggressive bullish positioning near resistance.

Signals bullish sentiment but at elevated implied vol.

Strategies

Call Calendar Spread
Sell 2026-06-26 $700.00 call / buy 2026-07-17 $700.00 call
Debit: $15.12-$18.48
Max loss: $18.48
Max gain: Variable
BE: Path-dependent
Trigger: Set invalidation at $650; consider early close if spot drops below support.
Captures elevated near-term IV while limiting exposure to crush; bullishly positioned at $700 resistance.
Outperforms: Sell front-week call, buy back-week call to profit from term structure and post-earnings rally.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short Strangle
Sell 2026-06-26 $675.00 put + sell $720.00 call
Credit: $126.02-$154.03
Max loss: Unlimited
Max gain: $154.03
BE: 520.97 / 874.03
Trigger: Monitor closely; roll or close before earnings to avoid gap risk.
Extracts premium from high IV but carries unlimited risk; less favorable given binary event.
Outperforms: Sell OTM put and call to collect premium; profit if spot stays within 675-720.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!IV crush post-earnings
!Gamma flip at $620 (11% below spot)
!Call resistance at $700-$800

What to Watch

?Earnings reaction (Jun 24)
?IV crush magnitude
?Support at $650, resistance $700
How to Use These Reports
This earnings reflects the market close on May 19, 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.