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MU

Micron Technology, Inc.Close $803.63EOD only
Max Pain
$600.00
Next expiry May 15, 2026
Expected Move
±$54.83
6.8% from close
Price Gap
-203.63
Distance to max pain
IV Rank
100
High premium
P/C OI
1.27
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: May 13, 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 13, 2026 close
MU Earnings Report
Analysis based on market close May 14, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

MU earnings 41 days out, IV elevated, 100% beat rate, bullish flow tilt, but high IV and gamma flip risk.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 29.3% from MP; +1 VIX 17
Most important: Call $795 and $785 activity shows strong near-term bullish bias; but spot 29% above MP, watch for mean reversion.
🚨11x call volume at $795 expiry tomorrow
📊100% beat rate over last 4 quarters, but earnings far out
⚠️Spot 29% above MP ($600), risk of pinning

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$620.00 — Approx — based on put OI concentration of 17,513 (20.1% below spot)

Earnings Overview

Next earnings: 2026-06-24 (41 days)explicit

Expected moves:

  • 2026-05-15 (1d): ±$35.82 (4.6%)
  • 2026-05-22 (8d): ±$93.77 (12.1%)
  • 2026-05-29 (15d): ±$118.80 (15.3%)

IV Setup

Term structure: Short-dated IV elevated (1d ±4.6%), term structure upward sloping.

Crush estimate: Significant crush post-earnings, IV may drop 30-50%.

Skew: Put skew elevated at lower strikes, put floor at $400-$650.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Avg move in line with implied, but only 4 quarters data.

Directional bias: Bullish, given 100% beat rate.

Key Levels

1$620.00 gamma flip
2EM guardrails: 2d $740.19/$811.84; 1w $682.24/$869.79
3Max pain pins: $600 (2026-05-15); $668 (2026-05-22); $610 (2026-05-29)

Flow Highlights

Unusual call volume at $795 (vol/OI 11.1) and $785 call (5.9) near expiration.

Aggressive bullish positioning, expecting upward move.

Large put volume at $785 and $825, with vol/OI 7.0 and 6.4.

Hedging or bearish bets at key levels.

Strategies

Short Strangle
Sell 2026-06-26 $740.00 put + sell $820.00 call
Credit: $145.93-$178.36
Max loss: Unlimited
Max gain: $178.36
BE: 561.64 / 998.36
Trigger: Close if price nears strikes or IV spikes further; typical exit before earnings to avoid gap risk.
Captures rich premium from elevated IV (93-95%) and term structure, with high probability of decay before earnings.
Outperforms: Sells OTM put and call to profit from time decay and vol crush, given bearish vol outlook.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Bull Call Spread
Buy 2026-06-26 $750.00/$800.00 call spread
Debit: $19.51-$23.84
Max loss: $23.84
Max gain: $26.16
BE: $773.84
Trigger: Exit if support at $657 breaks or rally stalls near resistance.
Aligns with bullish flow and 100% beat rate, but defined risk mitigates high IV.
Outperforms: Buys $750 call, sells $800 call to profit from upside with limited cost and risk.
Underperforms: Loss of support weakens upside continuation thesis.
Long Strangle
Buy 2026-06-26 $740.00 put + buy $820.00 call
Debit: $145.93-$178.36
Max loss: $178.36
Max gain: Unlimited
BE: 561.64 / 998.36
Trigger: Set stop-loss if IV declines; hold only if earnings catalyst expected.
Lower premium than straddle, captures potential outsized move if earnings surprise.
Outperforms: Buys OTM put and call to profit from large move regardless of direction.
Underperforms: Insufficient realized move reduces long-strangle edge.
Long straddle
Buy 2026-06-26 $800.00 put + buy $800.00 call
Debit: $183.24-$223.96
Max loss: $223.96
Max gain: Unlimited
BE: 576.04 / 1023.96
MU 100% beat rate and bullish flow. High IV but straddle captures volatility.
Outperforms: Buy ATM straddle to profit from earnings move regardless of direction.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!High IV amplifies moves.
!100% beat rate may not continue.
!Spot far above gamma flip level ($620).
!Call wall at $900-$900 may cap upside.

What to Watch

?Support $657, resistance $894.
?Max pain $600 (weekly).
?Gamma flip $620.
?Earnings catalysts in 41 days.
How to Use These Reports
This earnings reflects the market close on May 14, 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.