thetaOwl
HomeOptionsMUReports

MU

Micron Technology, Inc.Close $426.56EOD only
Max Pain
$390.00
Next expiry Apr 17, 2026
Expected Move
±$26.45
6.2% from close
Price Gap
-36.56
Distance to max pain
IV Rank
24
Low premium
P/C OI
1.14
Slightly put-heavy
Consensus
6.5/10
Consensus signal
Published snapshot: Apr 13, 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
Apr 13, 2026 close
MU AI Consensus Report
Analysis based on market close April 13, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Conviction
6.5

out of 10

6.5 because multiple signals align on a bullish pin (flow, GEX, concentrated call interest), but conviction is capped by high front‑end IV and the non‑negligible tail risk that a single downside shock or earnings/binary event could quickly remove dealer gamma support and reverse positioning — that event risk keeps the score from being higher.

Where Perspectives Agree

Market positioning is net-bullish with a dealer short-gamma pin toward the mid-$400s that creates a magnet and makes rallies self‑reinforcing; current flow and option positioning favor upside pressure into the $450 area.

Where They Diverge

Elevated front‑end IV and expensive protection conflict with the selling‑to‑collect theta play — high premium inflow supports bullishness, but elevated volatility makes defined‑risk premium selling costly and increases the probability of large, IV‑driven mean reversion. Also, the pinned/bullish directional thesis is materially undermined by a realized downside shock (gamma flip) — one narrative expects slow grinding upside while the other warns of rapid deleveraging if the pin fails.

Top Trade
via theta

Sell May 01 2026 400/395 put spread for a net credit (theta persona)

Key Risk

Closing and staying below $415 (failure to hold the $415/$425 band) would flip dealer positioning: gamma support collapses, dealers stop buying into dips and positional short‑covering unwinds, rapidly accelerating downside toward the $395 cluster and reopening the path to lower gaps.

Read the AI Analyst Consensus for MU for 2026-04-13. This synthesis report combines directional, theta, flow, and earnings perspectives into one conviction view with setup, trigger, and invalidation context.