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MU

Micron Technology, Inc.Close $766.58EOD only
Max Pain
$565.00
Next expiry May 15, 2026
Expected Move
±$65.50
8.5% from close
Price Gap
-201.58
Distance to max pain
IV Rank
90
High premium
P/C OI
1.29
Slightly put-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: May 12, 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 12, 2026 close
MU Flow Report
Analysis based on market close May 13, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Flow Verdict

BiasBullish
Confirmation: Strong net call volume, positive gamma (+48.5M), and unusual call prints at 795 and 990 suggest bullish positioning.
Invalidation: Sustained price decline below gamma flip at $620 or shift to heavy put volume.
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 33.9% from MP; +1 VIX 18

Watch next session: Monitor gamma flip level; Watch for put accumulation at high strikes; Check VIX direction

Flow Summary

Net premium: +$1.6B bullish

P/C volume ratio: 0.71

P/C OI ratio: 1.27

Bullish flow driven by heavy call volume and positive gamma grip. Despite spot trading far above max pain, confident positioning via call buying suggests upside conviction. Key risk is distance from max pain and elevated put OI.

Notable Prints

#1
MU 2026-05-15 $805.00 Put
Vol: 3,612
OI: 173
Vol/OI: 20.9x
IV: 94.9%
Notional: ~$10.3M
Intent: Bearish
Dual read: Opening

Read-through: Drop

#2
MU 2026-05-15 $795.00 Put
Vol: 3,973
OI: 205
Vol/OI: 19.4x
IV: 93.6%
Notional: ~$9.2M
Intent: Bearish
Dual read: Opening

Read-through: Drop

#3
MU 2026-07-17 $65.00 Put
Vol: 1,496
OI: 113
Vol/OI: 13.2x
IV: 181.3%
Notional: ~$6K
Intent: Tail
Dual read: Opening

Read-through: Crash

#4
MU 2026-05-22 $800.00 Put
Vol: 1,694
OI: 224
Vol/OI: 7.6x
IV: 101.0%
Notional: ~$8.8M
Intent: Bearish
Dual read: Opening

Read-through: Drop

#5
MU 2026-05-15 $795.00 Call
Vol: 6,844
OI: 1,051
Vol/OI: 6.5x
IV: 92.9%
Notional: ~$21.4M
Intent: Bullish
Dual read: Opening

Read-through: Rally

Institutional Positioning

Call additions: Adds at 795/805/990; OI rising; net premium bullish.

Put additions: Adds at 800-820; large OI at 620 (22.9% below spot).

GEX/DEX consistency: Both positive; consistent with bullish flow.

OI clusters: Put 800 (1709 OI), call 805 (1694), call 795 (1051); put wall at 620 (15,576).

Hedging evidence: Put buying near spot likely hedges longs; put wall at 620 is downside protection.

Max pain context: Spot above MP; GEX positive suggests pinning near 800-805.

Signal vs Noise

~Bullish call flow aligns with +GEX/+DEX.
~Heavy put volume near spot may be noise from hedging.
~Put wall at 620 is signal for downside risk.
~Far OTM put (65) is noise.

Key Conclusions

📈Bullish flow & positive GEX/DEX: pinning likely near 800-805.
⚠️Put OI wall at 620 (15,576) is a key downside support if broken.
🛡️Hedging via put additions near spot suggests cautious positioning.
How to Use These Reports
This flow reflects the market close on May 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.