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MU

Micron Technology, Inc.Close $971.00EOD only

Max Pain

$820.00

Next expiry Jun 5, 2026

Expected Move

±$107.40

11.1% from close

Price Gap

-151.00

Distance to max pain

IV Rank

100

High premium

P/C OI

1.47

Slightly put-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: May 29, 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 29, 2026 close

MU Flow Report

Analysis based on market close April 13, 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 13, 2026. A newer flow report is available for May 26, 2026.

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Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 9.4% from MP; +0.5 VIX 19

Watch next session: Additional premium into $420/$450/$415 calls (would reinforce bullish institutional stacking); Volume and prints at $400–$390 put strikes (would indicate defensive hedging or a shift toward downside protection)

Flow Summary

Net premium: +$345.6M bullish

P/C volume ratio: 0.73 — call-dominant (call-biased but not extreme)

P/C OI ratio: 1.14 — put OI larger overall, but today's flow favors calls

Heavy institutional call premium concentrated at $420, $450 and $415 (top premium flow). Dealers are net short gamma but overall GEX is positive ($+49.7M) creating pinning dynamics. The day reads as fresh directional call accumulation layered against existing put-heavy structural positioning (put OI clusters around $300-$400).

Notable Prints

MU260417C00417500 CALL $417.50 (exp 2026-04-17) ITM

Vol: 7,006

OI: 497

Vol/OI: 14.1x

IV: 68.6%

Notional: ~$12.9M

Intent: Fresh directional call buying (bullish, near-term upside exposure into the 4/17 expiry).

Dual read: Could be either long-call accumulation (bullish) or selling into strength by a dealer taking the other side as short-dated covered call activity (neutral); but vol/OI skew and large premium point to buyer-initiated activity.

Read-through: Large ITM call activity centered just below spot (+2% ITM) signals institutional conviction for continued near-term upside and contributes to pinning pressure around $415-$420 given dealer delta-hedging.

MU260417C00412500 CALL $412.50 (exp 2026-04-17) ITM

Vol: 3,929

OI: 942

Vol/OI: 4.2x

IV: 69.6%

Notional: ~$8.3M

Intent: Near-term directional call accumulation/roll-up into ITM calls (bullish).

Dual read: Could represent clients rolling up/upgrading risk or dealers adjusting inventory; still sizable notional implies meaningful buyer activity.

Read-through: Reinforces the $417.50 call print — clustered ITM call buying inside the spot increases dealer short-delta and supports upward pinning into the next expiration.

MU260508P00300000 PUT $300.00 (exp 2026-05-08) OTM

Vol: 5,251

OI: 195

Vol/OI: 26.9x

IV: 82.6%

Notional: ~$976k

Intent: Long-dated downside speculative protection or structured hedge (tail insurance) — buyers of deep OTM puts.

Dual read: Could be replacement tail-hedge buys by institutional managers or a large options seller opening offsetting structures; size and high IV favor buyer-initiated protection.

Read-through: Not likely to move near-term price mechanics given deep OTM location (30% from spot) but indicates some players buying cheap long-tail insurance — consistent with overall risk management despite bullish flow.

MU260417P00412500 PUT $412.50 (exp 2026-04-17) OTM

Vol: 4,934

OI: 257

Vol/OI: 19.2x

IV: 67.6%

Notional: ~$3.6M

Intent: Short-dated protective put buys or buy-to-open hedges (defensive), possibly paired with call buys as collars.

Dual read: Could be protective buying by longs or speculative short-dated directional puts; given simultaneous large call activity it reads as two-way hedging and expiration positioning.

Read-through: Shows active short-dated hedging around the current spot — dealers will delta-hedge both sides and this contributes to the pinning/gamma dynamics into 4/17.

Institutional Positioning

Call additions: $420.00, $450.00, $415.00 (heavy premium flow into these strikes; $420 net call premium $45,528,198; $450 net $41,124,828; $415 net $24,232,780).

Put additions: $400.00 and deeper strikes remain large in OI ($400 put OI=15,924) and activity in short-dated $412.50/$417.50 puts suggests protective hedging into expiry.

GEX/DEX consistency: Yes — positive Total GEX $49.7M and DEX +69.6M shares align with bullish flow and pinning behavior (near-term GEX concentration at $450, $415, $430).

OI clusters: Major OI concentration: $400.00 CALL(s)/PUT(s) and $450.00 CALL (15,192 OI) and $300/$250 put clusters (17,536 and 16,768 OI). These create a call-wall bias above and a deep put-floor below; near-term pin zone sits between $415-$450.

Hedging evidence: Yes — clear evidence of short-dated protective puts (4/17 $412.50/$417.50/$420) and large existing long-dated put OI at $300/$250 consistent with portfolio tail hedges. Minimal evidence of widespread collars in flow today but paired short-dated puts and calls imply two-sided hedging.

Max pain context: Max pain is centered near $390–$400 for the next expirations while spot is above; dealer positive GEX + call premium inflows create a pinning tension with MP lower — watch for roll/expiry flows pushing towards the MP levels if call demand eases.

Signal vs Noise

~Concentrated activity in 4/17 strikes (large vol at $412.50/$417.50/$420) is likely amplified by imminent expiry flows and fast roll/hedge activity — interpret short-dated prints as partly expiry-related.

~Deep OTM long-dated puts ($300/$340/$275) look like tail-hedges or speculative insurance — they are unlikely to be primary directional drivers for near-term price action.

~High volume at $450 calls (large OI and vol) can be market-maker inventory adjustments or structured call-sell programs; confirm with continued premium inflows before treating as fresh directional conviction.

Key Conclusions

🐂Net premium is strongly bullish today (+$345.6M) with concentrated call buying at $420/$450/$415 — dealers will be short-delta and that supports near-term upside/pinning.

📌Pinning risk: positive GEX ($+49.7M) and GEX concentration at $415/$420/$450 create a magnet in the $415–$450 band; watch expiries for how the pin resolves.

🛡️Short-dated protective put activity at $412.50–$420 indicates hedging alongside call buys — flow looks like buy-side longs adding upside while protecting downside into expiry.

⚖️Structural OI split: large put floors at $250–$300 vs call walls $450–$500 — market structure supports rallies up to the call wall and strong support if a pullback reaches the put clusters.

👀Watch for additional premium into $420 and $450; continued inflows reinforce bullish thesis — a move back under $400 with put premium picking up would invalidate the current read.

How to Use These Reports

This flow reflects the market close on April 13, 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.