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MU

Micron Technology, Inc.Close $487.48EOD only

Max Pain

$432.50

Next expiry Apr 24, 2026

Expected Move

±$26.52

5.4% from close

Price Gap

-54.98

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.23

Slightly put-heavy

Consensus

6.0/10

Bullish tilt

Published snapshot: Apr 22, 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

Apr 22, 2026 close

MU Flow Report

Analysis based on market close April 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 9.5% from MP; +0.5 VIX 19

Watch next session: Monitor spot move toward MP and intraday delta bleed; Short-dated put volume/oi change near 472–495 strikes; GEX gamma decay into 04-24 expiries

Flow Summary

Net premium: +$608.5M bullish

P/C volume ratio: 0.62

P/C OI ratio: 1.24

Flow is net bullish/pinning: dealer gamma and large call flow support upside and pin risk, but concentrated short-dated puts and spot above MP create meaningful invalidation downside.

Notable Prints

MU 2026-04-24 $480.00 Put

Vol: 18,268

OI: 620

Vol/OI: 29.5x

IV: 55.8%

Notional: ~$12.8M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MU 2026-05-01 $412.50 Put

Vol: 1,517

OI: 155

Vol/OI: 9.8x

IV: 86.6%

Notional: ~$667K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MU 2026-04-24 $487.50 Put

Vol: 1,878

OI: 196

Vol/OI: 9.6x

IV: 53.9%

Notional: ~$2.7M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MU 2026-04-24 $495.00 Put

Vol: 882

OI: 106

Vol/OI: 8.3x

IV: 54.8%

Notional: ~$1.7M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MU 2026-04-24 $472.50 Put

Vol: 2,267

OI: 276

Vol/OI: 8.2x

IV: 57.2%

Notional: ~$986K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy short‑dated call buying at 490 exp 2026-04-24 and long‑dated 800C 2027; size concentrated in 490C OI.

Put additions: Large near‑dated put prints clustered 472.5–495 strikes exp 2026-04-24 and 04‑01 May puts ~412–397; net put OI > call OI.

GEX/DEX consistency: GEX +$68.5M and DEX +72.7M are suggestive of bullish flow and potential pinning near spot, but they are not definitive — intraday/retail noise, execution timing and horizon uncertainty reduce confidence.

OI clusters: Largest OI clusters around 490C (2.9k OI) and put wall ~480s (put OI cluster ≈16.9k, ~19% below spot).

Hedging evidence: Protective puts/collars visible near 472–495 and short‑dated hedges; elevated IV (50s–90s) supports paid protection but could reflect hedging or directional bets — interpret magnitude with caution.

Max pain context: Spot sits above max pain; short‑dated pinning bias toward ~480–490 is indicated but not guaranteed.

Signal vs Noise

~Signal: concentrated short‑dated put OI cluster ~480s and heavy 490C activity imply institutional engagement.

~Signal: GEX/DEX are large and aligned with flows, lending conditional support to short‑dated pinning.

~Noise: isolated lower‑OI long‑dated calls and scattered high‑IV prints likely retail/directional noise.

Key Conclusions

📌Short‑dated pinning pressure around 480–490 driven by concentrated put OI and heavy 490C flows, but timing and strength are uncertain.

⚠️Elevated IV and sizeable protective puts signal hedging/risk aversion; downside may be cushioned but is not ruled out — monitor gamma and flow shifts.

How to Use These Reports

This flow reflects the market close on April 23, 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.