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MU

Micron Technology, Inc.Close $996.00EOD only

Max Pain

$970.00

Next expiry Jun 5, 2026

Expected Move

±$42.05

4.2% from close

Price Gap

-26.00

Distance to max pain

IV Rank

100

High premium

P/C OI

1.53

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 4, 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

Jun 4, 2026 close

MU Flow Report

Analysis based on market close June 5, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 11.8% from MP; +0.5 VIX 22

Watch next session: Spot rejection at $610; Put gamma acceleration

Flow Summary

Net premium: -$1.3B bearish

P/C volume ratio: 1.35

P/C OI ratio: 1.52

Heavy put flow and negative GEX reinforce bearish bias. Spot below gamma flip and max pain. Deep OTM call buying appears speculative, not hedging. VIX at 22 supports downside pressure.

Notable Prints

MU 2026-06-05 $895.00 Call

Vol: 8,777

OI: 146

Vol/OI: 60.1x

IV: 26.2%

Notional: ~$9K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MU 2026-06-05 $905.00 Call

Vol: 9,894

OI: 195

Vol/OI: 50.7x

IV: 31.3%

Notional: ~$10K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MU 2026-06-05 $915.00 Call

Vol: 6,345

OI: 129

Vol/OI: 49.2x

IV: 42.2%

Notional: ~$25K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MU 2026-06-05 $910.00 Call

Vol: 12,798

OI: 296

Vol/OI: 43.2x

IV: 41.0%

Notional: ~$13K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

MU 2026-06-05 $940.00 Call

Vol: 22,566

OI: 602

Vol/OI: 37.5x

IV: 55.5%

Notional: ~$45K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Short-dated OTM calls at 895-950 strikes, likely speculative noise.

Put additions: Significant put OI at $500 (6/12) and tail $40 put (7/10); high put/call ratios.

GEX/DEX consistency: GEX -$48.8M, DEX +103M shares. Inconsistent: dealers long delta short gamma near expiry.

OI clusters: Put OI concentration at $610 (29.4% below spot); call OI thin.

Hedging evidence: Tail hedges via $40 put (IV 389%) and $500 put accumulation.

Max pain context: Spot below MP; expected pin near MP? Not clear from data.

Signal vs Noise

~Negative net premium and high put/call ratios are real bearish signals.

~Zero-day OTM call buying with high volume is noise.

~Extreme OTM put hedges indicate institutional caution.

Key Conclusions

🐻Bearish flow: net -$1.25B premium, put/call >1.3.

⚠️Tail hedges and put accumulation signal downside protection.

How to Use These Reports

This flow reflects the market close on June 5, 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.