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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 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 15, 2026. A newer earnings report is available for May 20, 2026.

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Earnings Verdict

MU earnings 40 days out; high IV, bearish flow, but 100% beat rate.

Confidence:
3.5 / 10
base 5; -1 GEX/flow contradict; -1 spot 15.9% from MP; +0.5 VIX 18; override: Adjusted for GEX/flow contradict and spot vs MP.
Most important: Implied move ±10.7% in 7 days; spot near resistance.
⚡$50 put lottery with 510% IV signals extreme tail speculation.
📈100% historical beat rate supports bullish bias.
🛡️Put OI wall $400-$620 acts as floor.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$620.00 — Approx — based on put OI concentration of 17,343 (14.4% below spot)

Earnings Overview

Next earnings: 2026-06-24 (40 days)explicit

Expected moves:

  • 2026-05-22 (7d): ±$77.70 (10.7%)
  • 2026-05-29 (14d): ±$101.45 (14.0%)
  • 2026-06-05 (21d): ±$122.88 (17.0%)

IV Setup

Term structure: Upward sloping, 7d 10.7% -> 21d 17%.

Crush estimate: Large crush expected; implied moves high.

Skew: Put skew elevated; heavy put OI below spot.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: 100% beat rate but avg move not specified.

Directional bias: Mixed; beat rate bullish but flow bearish.

Key Levels

1$620.00 gamma flip
2EM guardrails: 1w $646.96/$802.36
3Max pain pins: $625 (2026-05-15); $690 (2026-05-22); $640 (2026-05-29)

Flow Highlights

Put heavy net premium $290M; PC vol ratio 1.15.

Hedging or bearish sentiment.

Unusual put at $615 5/22, vol/OI 74.5.

Large downside positioning.

Call buying at $735-740 OTM for 5/15.

Short-term bullish bets.

Strategies

Call Calendar
Sell 2026-05-22 $730.00 call / buy 2026-06-26 $730.00 call
Debit: $46.62-$56.98
Max loss: $56.98
Max gain: Variable
BE: Path-dependent
Trigger: Exit near earnings or if spot <$623.
Upward term; high near-term IV; liquid.
Outperforms: Sell near call, buy back-month; profits from time decay and IV drop.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short Strangle
Sell 2026-06-26 $700.00 put + sell $740.00 call
Credit: $140.04-$171.16
Max loss: Unlimited
Max gain: $171.16
BE: 528.84 / 911.16
Trigger: Monitor spot; roll if tested.
High premium; IV crush; liquid.
Outperforms: Sell OTM put and call; profits from IV contraction.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Iron Condor
Sell 2026-06-26 $710.00/$700.00 put wing and $740.00/$745.00 call wing
Credit: $7.60-$9.29
Max loss: $0.71
Max gain: $9.29
BE: 700.71 / 749.29
Trigger: Execution may suffer due to low liquidity. Liquidity warning: Liquidity constraints: long_call: Open interest below 25.
Defined risk; low liquidity.
Outperforms: Sell put and call wings; profits from range.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!High IV crush post-earnings.
!Spot near resistance $826.
!Put OI concentration below spot may cap upside.

What to Watch

?Earnings date 6/24; pre-earnings drift.
?5/22 $615 put activity.
?Spot break above $800 resistance.
How to Use These Reports
This earnings reflects the market close on May 15, 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.