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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 14, 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 14, 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 (GEX +$80.4M); +1 GEX positive pinning at 450/500; -1 spot 17.9% above MP; +0.5 VIX 18.4

Watch next session: New call OI or premium flow at $470-$500 (would extend dealer pinning and bullish gamma); Put accumulation or heavy buys around $420-$430 (would signal defensive positioning and threaten the bullish thesis)

Flow Summary

Net premium: +$1.4B bullish

P/C volume ratio: 0.63 — call‑dominant on volume

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

Large, concentrated call premium across strikes $430–$500 is driving a strong bullish flow regime despite heavier put open interest historically. Dealers are long gamma (GEX +$80.4M), producing pinning behavior around call-heavy strikes (notably $450 and $500). The mismatch — call-heavy premium today against slightly higher historical put OI — suggests institutions are adding directional upside exposure or buying synthetic/structured upside while dealers hedge into the tape.

Notable Prints

MU 2026-04-17 $432.50 Call

Vol: 6,137

OI: 591

Vol/OI: 10.4x

IV: 73.8%

Notional: ~$21.88M

Intent: Aggressive directional call accumulation (short-dated, ITM flow indicates bullish delta demand ahead of near-term moves)

Dual read: Could be outright buy-to-open (bullish) or a large dealer sell (overwriting) hedged with stock/synthetics (neutral); volume/OI ratio and size favor active buying.

Read-through: Largest notional print — consistent with institutional bullish positioning that is helping drive positive GEX and pinning toward higher strikes.

MU 2026-04-17 $450.00 Put

Vol: 24,814

OI: 2,746

Vol/OI: 9.0x

IV: 70.4%

Notional: ~$17.37M

Intent: Large directional or hedging activity around the $450 strike; given heavy call premium at nearby strikes, likely put selling (collecting premium) or a closing hedge into strong call flow.

Dual read: Could be protective buying by institutions (bearish) OR heavy put selling by market participants offsetting call buying (neutral to bullish overall).

Read-through: Very high flow into 4/17 puts at $450 suggests expiration-level positioning; combined with call flow it points to complex hedging/roll activity around this near‑spot strike.

MU 2026-04-24 $482.50 Call

Vol: 2,199

OI: 172

Vol/OI: 12.8x

IV: 70.7%

Notional: ~$3.31M

Intent: Directional upside buy (OTM calls at a near‑term weekly horizon), positioning for extension into the 1-week expected move.

Dual read: Fresh long calls (bullish) or complex structured buys (e.g., spreads) executed as package trades (neutral to bullish).

Read-through: Placement at $482.50 (+~3.6% from spot) signals participants pricing for continued upside toward the 1-week EM bound ($511.56).

MU 2026-04-17 $457.50 Call

Vol: 3,107

OI: 245

Vol/OI: 12.7x

IV: 69.8%

Notional: ~$5.56M

Intent: Short-dated ITM call buying — tactical bullish exposure into the April 17 expiration.

Dual read: Likely buy-to-open (bullish) though could be a dealer adjustment or exercise/assignment rotation (neutral).

Read-through: Concentrated buying right around near-term expiries adds to dealer gamma positioning and short-term pin risk between $450–$470.

MU 2026-04-17 $427.50 Put

Vol: 1,270

OI: 105

Vol/OI: 12.1x

IV: 74.9%

Notional: ~$0.33M

Intent: Small protective put purchases or speculative short-dated downside exposure.

Dual read: Could be genuine downside protection (hedge) or cheap speculative buys (noise given small notional).

Read-through: Size is modest vs other prints — not a material directional shift but consistent with two‑sided hedging into expirations.

Institutional Positioning

Call additions: $430-$500 calls heavily accumulated (notable premium flow at $430, $440, $450, $460, $480, $500) — large premium flows show institutions adding upside exposure across 4/17–4/24 expiries.

Put additions: Put OI remains concentrated at $300, $400 and $250 historically, but near-term put buying/flow centered at $450 and $420–$430 appears more expiration-driven than a structural bearish build.

GEX/DEX consistency: Yes — positive GEX (+$80.4M) and DEX (+78.1M shares) align with bullish call-heavy premium; dealer pinning evident at $450 and $500 concentrations.

OI clusters: Major OI clusters: $450 call OI 18,093; $400 call OI 35,554 (aggregate across expiries); $500 call OI 15,830; puts concentrated at $300 (18,033) and $400 (17,619) but those are further from spot; near‑spot OI creates a pin around $450 and resistance wall potential at $500.

Hedging evidence: Some evidence of large-scale hedging and expiration management: big short-dated put volume at $450 and elevated activity across ITM calls suggests collars/rolls and dealer delta-hedging rather than pure one‑way bearish accumulation.

Max pain context: Max pain pins are below spot ($395/$400 near-term) and trending lower, but current flow and positive GEX are producing short-term pinning up towards call-cluster strikes ($450/$500) — spot sits 17.9% above the nearest MP ($395), so dealer pin dynamics favor higher strikes in the very near term.

Signal vs Noise

~Large 4/17 activity (many prints at April expiration) likely includes expiration rolls and hedges — some high put volumes at $450 may be closing or adjustment trades, not fresh directional conviction.

~High premium at $450–$500 is partly driven by concentrated institutional buying and dealer hedging; individual spreads or package trades (not visible in single-leg prints) could explain some unusual vol/OI ratios.

~Long-dated $260 put (8/21) is far OTM (44% from spot) and likely tail hedging or structured protection — treat as portfolio insurance rather than near-term bearish signal.

Key Conclusions

🐂Flow is clearly bullish: $1.4B net premium with P/C vol 0.63 and GEX +$80.4M — dealers are long gamma and pinning toward higher strikes ($450/$500).

📌Near-term pinning risk centered at $450 (large call OI, GEX +$8.9M) — watch expirations through 4/17 that can keep price anchored into that band.

⚠️High short-dated put flow at $450 could be expiration management (rolls/hedge) — if it becomes persistent put buying into the tape, it would threaten the bullish thesis.

🎯Key resistances to watch: $470.00, $480.00, $500.00 (call OI/GEX concentration); supports: $450.00, $430.00, $420.00 (put/OI/dealer hedging within ±10% of spot).

🔎Top prints (notably the $432.50 call and $450 put flows) indicate institutional positioning and hedging into the April expiries — next-session OI changes at $470–$500 will be decisive for directional bias.

How to Use These Reports

This flow reflects the market close on April 14, 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.