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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

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 Flow Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 6, 2026. A newer flow report is available for May 21, 2026.

View latest report

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.9% from MP

Watch next session: $400C OI buildup (35,037 OI); Gamma pinning near $380-$390; Put flow at $375-$380

Flow Summary

Net premium: +$225.5M bullish

P/C volume ratio: 0.51 — extreme call dominance

P/C OI ratio: 1.20 — put OI lean (contradicts volume flow)

Massive call buying with $225.5M net premium bullish, but open interest shows puts dominate overall positioning. This suggests institutions are actively buying calls while maintaining longer-term put hedges.

Notable Prints

MU 2026-04-10 $380 Call

Vol: 21,050

OI: 2,565

Vol/OI: 8.2x

IV: 81.3%

Notional: ~$246.7M (21,050 contracts × $11.72 avg price × 100)

Intent: Fresh directional call buying near spot

Dual read: Bought (bullish breakout bet) or sold/covered (neutral)

Read-through: Most significant near-term flow, aligns with bullish regime

MU 2026-05-01 $400 Call

Vol: 22,756

OI: 3,605

Vol/OI: 6.3x

IV: 72.5%

Notional: ~$44.4M (22,756 contracts × $19.50 avg price × 100)

Intent: Directional call buying for May expiration

Dual read: Bought (bullish extension) or spread leg

Read-through: Targeting $400 breakout beyond near-term max pain

MU 2026-04-10 $425 Call

Vol: 12,892

OI: 2,121

Vol/OI: 6.1x

IV: 82.7%

Notional: ~$17.9M (12,892 contracts × $1.39 avg price × 100)

Intent: Lottery ticket call buying

Dual read: Bought (high-risk bullish) or sold (premium collection)

Read-through: Low-cost speculation on move to $425 (+12.5% from spot)

MU 2026-04-10 $380 Put

Vol: 7,355

OI: 951

Vol/OI: 7.7x

IV: 79.3%

Notional: ~$101.1M (7,355 contracts × $13.75 avg price × 100)

Intent: Hedge or protective put buying

Dual read: Bought (bearish protection) or sold (covered put writing)

Read-through: Likely hedging against $380 breakdown, complements call flow

MU 2026-04-10 $570 Call

Vol: 2,313

OI: 164

Vol/OI: 14.1x

IV: 115.6%

Notional: ~$2,313 (2,313 contracts × $0.01 avg price × 100)

Intent: Noise or nominal position

Dual read: Bought (extreme lottery) or closing trade

Read-through: Minimal notional value, likely irrelevant for directional signals

Institutional Positioning

Call additions: $380-$400 calls across April/May expirations, with $400C seeing $79.1M net premium

Put additions: Protective puts at $300-$350 (large OI clusters), with $380P active hedging

GEX/DEX consistency: Yes — positive GEX of $+24.0M aligns with bullish flow and pinning regime

OI clusters: $400 call wall (35,037 OI), $300 put floor (17,349 OI), $200 put floor (17,192 OI)

Hedging evidence: Clear put OI concentration below spot ($200-$350) suggests institutional downside protection

Max pain context: Near-term max pain at $360, but spot at $377.76 above with call flow targeting $400+

Signal vs Noise

~$570C 2026-04-10: Minimal notional value (~$2,313), likely noise or closing trade

~Deep OTM puts at $40-$120: Far from spot (-70% to -89%), likely legacy positions or hedging unrelated to current flow

~$800C/P flow: Net negative premium but small size, likely spread legs or adjustments

Key Conclusions

🐂Massive $225.5M net premium bullish with extreme call volume dominance (P/C 0.51)

📌Gamma pinning regime with positive GEX ($+24.0M) creating magnet near $380-$415

🛡️Institutional put OI at $200-$350 provides downside buffer despite bullish flow

How to Use These Reports

This flow reflects the market close on April 6, 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.