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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 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

MU strong bullish setup with 100% beat rate, heavy call flow, and positive gamma. IV elevated but crush expected post-earnings.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.3% from MP; +1 VIX 17
Most important: Call OI wall at $800 and put floor at $400-$650; spot near $730.
📈Heavy call flow at 5/22 strikes suggests immediate upside bias
⚠️Spot above max pain increases pinning risk; watch $695 support

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 17,459 (15.3% below spot)

Earnings Overview

Next earnings: 2026-06-24 (35 days)explicit

Expected moves:

  • 2026-05-22 (2d): ±$50.38 (6.9%)
  • 2026-05-29 (9d): ±$82.82 (11.3%)
  • 2026-06-05 (16d): ±$107.65 (14.7%)

IV Setup

Term structure: Steep contango; 16d IV ~14.7% vs 2d 6.9%

Crush estimate: ~50-60% IV crush post-earnings based on historical patterns

Skew: Call skew elevated; heavy call buying at 5/22 strikes suggests upside bias

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Avg move vs expected not available; but 100% beat rate suggests upside tendency

Directional bias: Bullish bias historically; 4 consecutive beats

Key Levels

1$620.00 gamma flip
2EM guardrails: 2d $681.61/$782.36; 1w $649.16/$814.81
3Max pain pins: $695 (2026-05-22); $680 (2026-05-29); $660 (2026-06-05)

Flow Highlights

Unusual call volume at 5/22 $715, $722.5, $725, $727.5, $712.5 strikes; also 5/29 $730 call

Aggressive upside positioning ahead of earnings, likely anticipating positive catalyst

Strategies

Bullish Volatility Play
Sell 2026-06-18 $760.00 call / buy 2026-07-17 $790.00 call
Debit: $17.50-$21.39
Max loss: $21.39
Max gain: Variable
BE: Path-dependent
Trigger: Exit if spot breaches $695 invalidation; roll or close after earnings.
Combines bullish directional exposure with volatility crush capture; contango favors short-term premium decay.
Outperforms: Sell near-term call and buy deferred call to profit from term structure decay and potential upside.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Range-Bound Volatility Harvest
Sell 2026-06-26 $630.00/$565.00 put wing and $940.00/$1020.00 call wing
Credit: $24.59-$30.06
Max loss: $49.94
Max gain: $30.06
BE: 599.94 / 970.06
Trigger: Monitor IV crush; adjust wings if spot approaches strikes.
Neutral strategy collects premium from elevated IV while limiting tail risk; suitable if upside stalls.
Outperforms: Sells out-of-the-money put and call spreads to capture premium from IV crush.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!High IV may overstate expected move
!Gamma pinning at $695 could limit short-term upside
!Spot 5.3% above max pain increases pinning risk

What to Watch

?Price reaction around $695 max pain
?Call OI at $800 resistance
?Any shift in put/call ratio
How to Use These Reports
This earnings reflects the market close on May 20, 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.