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MU

Micron Technology, Inc.Close $762.10EOD only
Max Pain
$700.00
Next expiry May 22, 2026
Expected Move
±$27.20
3.6% from close
Price Gap
-62.10
Distance to max pain
IV Rank
58
Middle-high premium
P/C OI
1.30
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: May 21, 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 21, 2026 close
MU Earnings Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

High-confidence setup with strong GEX pinning and bullish flow. Spot 8.9% above max pain, historical beat rate 100%.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.9% from MP; +1 VIX 17
Most important: Massive call buying at $755 and $760 expiries; put floor at $620.
📈Call flow dominant: $755-$760 strikes heavily traded; implied move ±3.6% for 1d.

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 17,472 (18.6% below spot)

Earnings Overview

Next earnings: 2026-06-24 (34 days)explicit

Expected moves:

  • 2026-05-22 (1d): ±$27.20 (3.6%)
  • 2026-05-29 (8d): ±$71.77 (9.4%)
  • 2026-06-05 (15d): ±$102.18 (13.4%)

IV Setup

Term structure: Upward sloping: 1d ±3.6%, 8d ±9.4%, 15d ±13.4%.

Crush estimate: Moderate crush expected; IV >60% across fronts.

Skew: Put-skewed OI (PCR 1.30) but heavy call flow; puts concentrated at $620.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Not available; beat rate 100% (4/4 quarters).

Directional bias: Bullish bias given consistent beats and upward trend.

Key Levels

1$620.00 gamma flip
2EM guardrails: 2d $734.90/$789.30; 1w $690.32/$833.87
3Max pain pins: $700 (2026-05-22); $680 (2026-05-29); $660 (2026-06-05)

Flow Highlights

5071 contracts of MU 2026-05-29 $755 Call traded vs 230 OI (22x).

Aggressive short-delta call buying targeting upside beyond expiration.

Strategies

Bull Call Spread
Buy 2026-06-26 $795.00/$920.00 call spread
Debit: $31.50-$38.50
Max loss: $38.50
Max gain: $86.50
BE: $833.50
Trigger: Exit if MU < $700; roll if IV spikes.
Best fits bullish bias with defined risk, high beat rate, IV crush resilience.
Outperforms: Buy $795 call, sell $920 call, net ~$31.5-$38.5. Captures upside limited outlay.
Underperforms: Loss of support weakens upside continuation thesis.
Long Strangle
Buy 2026-06-26 $690.00 put + buy $920.00 call
Debit: $75.47-$92.23
Max loss: $92.23
Max gain: Unlimited
BE: 597.77 / 1012.23
Trigger: Stop-loss at $60; take profit 200% gain.
Lower cost asymmetric bet on large move; liquidity pass.
Outperforms: Buy $690 put $920 call. Profit from outsized earnings swing.
Underperforms: Insufficient realized move reduces long-strangle edge.
Long Straddle
Buy 2026-06-26 $795.00 put + buy $795.00 call
Debit: $153.97-$188.18
Max loss: $188.18
Max gain: Unlimited
BE: 606.82 / 983.18
Trigger: Hedge with wings; exit after first day. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
Direct play on high IV, 100% beat rate, but costly.
Outperforms: Buy $795 put and call. Benefits from any large move.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Short strangle
Sell 2026-06-26 $735.00 put + sell $800.00 call
Credit: $122.76-$150.04
Max loss: Unlimited
Max gain: $150.04
BE: 584.96 / 950.04
Earnings beat rate 100%, IV >86% on 36d expiry; capitalize on crush with defined range
Outperforms: Sell premium into elevated IV with bullish skew; post-earnings crush
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!IV crush post-earnings could compress premium quickly.
!Theta decay accelerates for weekly expiries.
!Gap risk on earnings miss despite high beat rate.

What to Watch

?Gamma flip at $620 (put wall).
?Max pain pinning near $700.
How to Use These Reports
This earnings reflects the market close on May 21, 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.