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MU

Micron Technology, Inc.Close $1211.38EOD only

Max Pain

$1000.00

Next expiry Jun 26, 2026

Expected Move

±$159.15

13.1% from close

Price Gap

-211.38

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.48

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 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

Jun 22, 2026 close

MU Flow Report

Analysis based on market close June 23, 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 1.6% from MP; +0.5 VIX 19

Watch next session: Spot action near $800 gamma flip; Unusual put activity

Flow Summary

Net premium: +$769.8M bullish

P/C volume ratio: 1.06

P/C OI ratio: 1.49

Despite broad market selloff, MU shows strong positive gamma ($17.6M) and net call premium ($770M), suggesting bullish positioning near support. High confidence pinned structure favors upside resolution.

Notable Prints

MU 2026-07-02 $550.00 Put

Vol: 4,049

OI: 250

Vol/OI: 16.2x

IV: 180.6%

Notional: ~$539K

Intent: Bearish hedge/speculation

Dual read: Institutional downside protection

Read-through: Extreme OTM put, reflects fear

MU 2026-06-26 $1065.00 Put

Vol: 1,258

OI: 130

Vol/OI: 9.7x

IV: 153.9%

Notional: ~$9.3M

Intent: Bearish or hedging

Dual read: Possible part of spread

Read-through: ATM put, high volume

MU 2026-06-26 $1055.00 Call

Vol: 1,825

OI: 202

Vol/OI: 9.0x

IV: 154.7%

Notional: ~$12.2M

Intent: Bullish speculation

Dual read: Could be collar component

Read-through: OTM call buying

MU 2026-06-26 $1045.00 Call

Vol: 1,342

OI: 154

Vol/OI: 8.7x

IV: 155.2%

Notional: ~$9.6M

Intent: Bullish

Dual read: Covered call writing?

Read-through: Volume above OI suggests buying

MU 2026-06-26 $1070.00 Put

Vol: 3,052

OI: 367

Vol/OI: 8.3x

IV: 153.9%

Notional: ~$23.7M

Intent: Bearish hedge

Dual read: Part of straddle

Read-through: High put volume

Institutional Positioning

Call additions: Concentrated near-term OTM calls at $1045-$1115 expiring 6/26

Put additions: Near-term puts at $1065/$1070 and Aug $1150 put added

GEX/DEX consistency: Consistent: GEX +$17.6M, DEX +86.5M shares both positive

OI clusters: Largest OI near $1050-$1080 calls and $1065-$1070 puts for 6/26

Hedging evidence: Near-term puts on downside and Aug $1150 put hedging tail risk

Max pain context: Spot above MP; pinning gamma supports spot near $1060-$1070

Signal vs Noise

~High vol/oi ratio prints (16.2x, 9.7x) are real directional bets

~Mixed flow (calls and puts) reflects hedging, not pure directional view

~Extreme put OI ratio (1.49) may be stale; focus on new premium

Key Conclusions

📉Massive put volume at $550 (16.2x OI) likely a buy-write or structured hedge, not bearish

📈Calls at $1045-$1080 show institutional upside appetite near expiry

⚠️High VIX (19.5) and mixed flow suggest elevated uncertainty; gamma flip at $800 is warning

How to Use These Reports

This flow reflects the market close on June 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.