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MU

Micron Technology, Inc.Close $1133.99EOD only

Max Pain

$970.00

Next expiry Jun 26, 2026

Expected Move

±$162.10

14.3% from close

Price Gap

-163.99

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.39

Slightly put-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

MU Flow Report

Analysis based on market close June 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 21.1% from MP; +1 VIX 17

Watch next session: $1000 support; $1200 resistance; unusual prints at $1180P and $1195C

Flow Summary

Net premium: +$2.7B bullish

P/C volume ratio: 1.01

P/C OI ratio: 1.48

MU sees mixed flow with large net call premium (+$2.73B) but elevated put/call OI (1.48). High gamma pinning at $1000 and positive delta exposure. Unusual prints show aggressive put buying at $1180 and $1000, alongside call speculation at $1190-1195. VIX at 17, vol high. Market awaits directional catalyst.

Notable Prints

MU 2026-06-26 $1180.00 Put

Vol: 2,810

OI: 109

Vol/OI: 25.8x

IV: 138.9%

Notional: ~$17.8M

Intent: Bearish speculation

Dual read: Hedge

Read-through: Expect drop

MU 2026-06-26 $1195.00 Call

Vol: 4,636

OI: 191

Vol/OI: 24.3x

IV: 142.1%

Notional: ~$40.9M

Intent: Bullish speculation

Read-through: Expect rise

MU 2026-07-31 $1000.00 Put

Vol: 3,044

OI: 146

Vol/OI: 20.9x

IV: 105.2%

Notional: ~$21.1M

Intent: Bearish position

Dual read: Protective put

Read-through: Longer-term bearish

MU 2026-08-21 $980.00 Put

Vol: 4,086

OI: 276

Vol/OI: 14.8x

IV: 101.0%

Notional: ~$35.5M

Intent: Bearish

Dual read: Hedge

Read-through: Continued weakness

MU 2026-07-02 $1040.00 Put

Vol: 1,171

OI: 108

Vol/OI: 10.8x

IV: 122.6%

Notional: ~$3.9M

Intent: Bearish

Read-through: Near-term drop

Institutional Positioning

Call additions: Speculative upside at 1190/1195/1480 calls.

Put additions: Heavy hedging at 1000/1150/1180/1200 puts; tail risk at 655.

GEX/DEX consistency: GEX positive (+34.6M) aligns with pinning; DEX positive (+88.9M shares) suggests long delta, but put activity signals caution.

OI clusters: Put OI concentrated at 1000-1200; call OI at 1190-1195 and 1480.

Hedging evidence: Large put buys (e.g., 1180P, 1000P, 655P) across expirations; likely hedging downside.

Max pain context: Spot 21.1% above max pain; bullish momentum but extended.

Signal vs Noise

~Heavy put buying across strikes likely hedging but may include speculative positioning.

~High-volume call buying at 1190/1195 is speculative but consistent with upside bias.

~Far OTM put at 655P is tail hedge, notable but low probability.

~Mixed flow (PCR vol ~1) vs high OI ratio (1.48) indicates put bias building.

Key Conclusions

🛡️Institutions appear to be hedging downside with puts, though some speculative activity possible.

🎯Positive GEX (+34.6M) suggests dealer pinning; spot likely sticky near current levels.

🔥Call speculation at 1190-1195 indicates bullish bets, but put volume dominates.

How to Use These Reports

This flow reflects the market close on June 22, 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.