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MU

Micron Technology, Inc.Close $1087.99EOD only
Max Pain
$560.00
Next expiry Jun 18, 2026
Expected Move
±$90.20
8.3% from close
Price Gap
-527.99
Distance to max pain
IV Rank
100
High premium
P/C OI
1.45
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 15, 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
Jun 15, 2026 close
MU Earnings Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Elevated IV, mixed flow, 100% beat rate historically.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 59.5% from MP; +1 VIX 16
Most important: Unusual call buying at $1240 post-earnings; high IV premium.
🚀Bullish call buying at $1240 for post-earnings
⚠️High IV requires large move; crush risk
📉QQQ down 1.9% signals headwinds

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$730.00 — Approx — based on put OI concentration of 16,761 (28.5% below spot)

Earnings Overview

Next earnings: 2026-06-24 (8 days)explicit

Expected moves:

  • 2026-06-18 (2d): ±$67.98 (6.7%)
  • 2026-06-26 (10d): ±$168.63 (16.5%)
  • 2026-07-02 (16d): ±$195.65 (19.2%)

IV Setup

Term structure: Pre-earnings IV ~90%, post-earnings IV ~125%.

Crush estimate: Estimated crush to ~70-80% after event.

Skew: Slight put skew on 6/26 (puts ~126% vs calls ~123%).

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Not available.

Directional bias: Mixed; aggressive calls and puts.

Key Levels

1$730.00 gamma flip
2EM guardrails: 2d $952.79/$1088.74; 1w $852.14/$1189.39
3Max pain pins: $640 (2026-06-18); $935 (2026-06-26); $910 (2026-07-02)

Flow Highlights

Large call vol on 6/26 $1240C (3662 vol, 18x OI)

Bullish bet on post-earnings upside.

Heavy put activity on 6/18 $1035-$1045 and 6/26 $810

Hedging or straddle positioning.

Strategies

Short Strangle
Sell 2026-06-18 $825.00 put + sell $1050.00 call
Credit: $20.49-$25.05
Max loss: Unlimited
Max gain: $25.05
BE: 799.95 / 1075.05
Trigger: Close at 50% max gain or before earnings if IV collapses
Highest premium capture with 90% IV crush to 70-80%
Outperforms: Sells OTM put and call to profit from IV contraction and time decay
Underperforms: Break outside short strikes invalidates short-vol thesis.
Call Diagonal
Sell 2026-06-18 $1050.00 call / buy 2026-06-26 $1050.00 call
Debit: $46.19-$56.46
Max loss: $56.46
Max gain: Variable
BE: Path-dependent
Trigger: Exit if underlying breaches short strike or after IV crush
Exploits post-earnings IV crush on short leg while maintaining upside exposure
Outperforms: Sells front-month call IV high, buys back-month call lower IV decay
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Put Calendar
Sell 2026-06-18 $825.00 put / buy 2026-06-26 $825.00 put
Debit: $14.25-$17.41
Max loss: $17.41
Max gain: Variable
BE: Path-dependent
Trigger: Close if put IV collapses or near expiration
Captures high near-term put IV with limited risk and bearish skew
Outperforms: Sells front-month put, buys back-month put to profit from volatility term structure
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Gamma pinning risk near $935 max pain for 6/26
!Sector weakness: QQQ down 1.9%
!High IV premium may decay rapidly post-earnings

What to Watch

?Earnings guidance and revenue
?Semiconductor sector sentiment
?Post-earnings IV crush timing
How to Use These Reports
This earnings reflects the market close on June 16, 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.