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MU

Micron Technology, Inc.Close $1020.76EOD only
Max Pain
$640.00
Next expiry Jun 18, 2026
Expected Move
±$67.97
6.7% from close
Price Gap
-380.76
Distance to max pain
IV Rank
100
High premium
P/C OI
1.48
Slightly put-heavy
Consensus
6.5/10
Consensus signal
Published snapshot: Jun 16, 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 16, 2026 close
MU Earnings Report
Analysis based on market close June 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

MU earnings in 7 days; high IV and strong put skew despite 100% beat rate.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 58.1% from MP; +0.5 VIX 18
Most important: Large OTM put activity suggests downside hedging; watch for pinning near $950.
⚠️Large put buying in 6/26 $600 despite 4.7% expected move; risk of downside.
📊100% beat rate historically but IV crush may offset gains.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$900.00 — Approx — based on put OI concentration of 12,589 (13.7% below spot)

Earnings Overview

Next earnings: 2026-06-24 (7 days)explicit

Expected moves:

  • 2026-06-18 (1d): ±$49.53 (4.7%)
  • 2026-06-26 (9d): ±$163.38 (15.7%)
  • 2026-07-02 (15d): ±$193.75 (18.6%)

IV Setup

Term structure: Front-week IV ~82%, back-week >170%; steep contango.

Crush estimate: Expect ~60-70% IV crush post-event based on historical.

Skew: Put skew extreme for 6/26 OTM puts with IV >170%.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Historical moves (4Q) averaged 4.8% vs implied ~4.7%.

Directional bias: Bullish from 100% beat rate but current setup dominated by hedging.

Key Levels

1$900.00 gamma flip
2EM guardrails: 2d $993.66/$1092.71; 1w $879.81/$1206.56
3Max pain pins: $660 (2026-06-18); $950 (2026-06-26); $910 (2026-07-02)

Flow Highlights

Notable $600 put 6/26: 13,888 vol vs 1,920 OI; $625 put: 11,411 vol vs 453 OI.

Large speculation on downside below $600; positioning for miss or volatility.

Strategies

Call Calendar MU
Sell 2026-06-26 $1000.00 call / buy 2026-07-24 $1000.00 call
Debit: $47.23-$57.72
Max loss: $57.72
Max gain: Variable
BE: Path-dependent
Trigger: Close after IV crush or near front-week expiration.
Steep contango, IV crush expected 60-70% after earnings on 6/24.
Outperforms: Sell front-week call, buy back-week call to capitalize on volatility drop.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!High IV environment (+100% back week).
!Gamma pinning near $950-$1050.
!Spot 58% from MP creates wide range risk.
!Large put OI on 6/26 could amplify move if triggered.

What to Watch

?Earnings on 6/24.
?Key level $950 (max pain 6/26).
?$1100 call wall resistance.
?Put OI concentration at $530-$900.
How to Use These Reports
This earnings reflects the market close on June 17, 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.