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MU

Micron Technology, Inc.Close $935.89EOD only

Max Pain

$925.00

Next expiry Jun 12, 2026

Expected Move

±$83.90

9.0% from close

Price Gap

-10.89

Distance to max pain

IV Rank

High premium

P/C OI

1.47

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 9, 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 9, 2026 close

MU Flow Report

Analysis based on market close June 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.2% from MP; +0.5 VIX 20

Watch next session: Monitor call volume at $900+ strikes

Flow Summary

Net premium: +$1.1B bullish

P/C volume ratio: 0.94

P/C OI ratio: 1.47

Dominant bullish call flow with positive net premium and positive gamma. Despite high put OI and tech weakness, aggressive out-of-the-money call buying signals upside conviction.

Notable Prints

MU 2026-06-12 $905.00 Call

Vol: 5,276

OI: 285

Vol/OI: 18.5x

IV: 108.8%

Notional: ~$30.1M

Intent: Bullish opening

Dual read: Part of spread

Read-through: Bullish sentiment

MU 2026-06-12 $895.00 Call

Vol: 2,846

OI: 159

Vol/OI: 17.9x

IV: 110.1%

Notional: ~$17.4M

Intent: Bullish opening

Dual read: Part of spread

Read-through: Bullish sentiment

MU 2026-06-12 $902.50 Call

Vol: 2,270

OI: 163

Vol/OI: 13.9x

IV: 109.5%

Notional: ~$12.5M

Intent: Bullish opening

Dual read: Part of spread

Read-through: Bullish sentiment

MU 2026-06-12 $910.00 Call

Vol: 6,147

OI: 536

Vol/OI: 11.5x

IV: 108.6%

Notional: ~$33.2M

Intent: Bullish opening

Dual read: Part of spread

Read-through: Bullish sentiment

MU 2026-06-12 $905.00 Put

Vol: 3,530

OI: 330

Vol/OI: 10.7x

IV: 109.3%

Notional: ~$10.2M

Intent: Bearish hedge

Dual read: Part of spread

Read-through: Bearish warning

Institutional Positioning

Call additions: Aggressive call buying at 895-920 strikes, especially 905C (18.5x OI) and 910C (11.5x OI), indicating bullish bias.

Put additions: Notable put activity at 905P (10.7x OI) and 907.5P (7.8x OI) suggests protective hedging.

GEX/DEX consistency: GEX +$21.7M and DEX +97.4M shares are aligned, reinforcing bullish gamma/delta support.

OI clusters: Largest OI concentrations at 975C (664), 920C (565), 910C (536), indicating resistance above.

Hedging evidence: Put additions at strikes near spot show downside hedging, likely by institutions capping risk.

Max pain context: Spot ~936 is well above MP (est ~900); pinning pressure may pull spot lower toward gamma flip at 730.

Signal vs Noise

~Signal: High call volume on weekly expirations (18.5x OI on 905C) indicates strong bullish flow.

~Signal: Positive GEX and DEX confirm institutional delta hedging supporting spot.

~Noise: Elevated put/call OI ratio (1.47) is misleading due to heavy put OI from prior weeks, not current flow.

~Noise: Volatility above 100% IV on many prints is typical for upcoming earnings; not abnormal.

Key Conclusions

🐂Institutions are aggressively adding calls at 895-920, indicating bullish conviction near spot.

🛡️Simultaneous put buying at 905 and 907.5 suggests hedging, capping upside risk.

⚠️Spot well above MP and gamma flip at 730; risk of reversion toward 910 zone.

How to Use These Reports

This flow reflects the market close on June 9, 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.