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MU

Micron Technology, Inc.Close $698.74EOD only

Max Pain

$700.00

Next expiry May 22, 2026

Expected Move

±$58.15

8.3% from close

Price Gap

+1.26

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.31

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 19, 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

May 19, 2026 close

MU Theta Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Theta Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.2% from MP; +0.5 VIX 18

IV Environment

IV Regime

High

IV vs VIX

Avg IV 100% vs VIX 18 - premium rich

Favorable?

Yes

Term structure: Short-term IV elevated, decaying into contango after 30 DTE

📈Avg IV 100% vs VIX 18 - premium rich

⏳Term structure decays after 30 DTE, theta favorable

📌Dealer long gamma $11.3M, pinning $700

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+11.3M)

Gamma flip: ~$620.00 — Approx — based on put OI concentration of 17,414 (11.3% below spot)

OI concentrations: Put OI concentrated at $660-700, call wall at $800

Verdict: High pin risk at $700, $660, with put dominance. Spot near $700 increases pin probability.

Premium Opportunities

Put credit spread

Sell 2026-06-26 $690.00/$675.00 put spread

Sell $690/$675 put spread to capture elevated IV and put skew, targeting 0.30 delta short strike.

Credit: $7.06-$8.63

Max loss: $6.37

BE: $681.37

Mgmt: Exit at 50% max profit or if MU breaks below $650 support; manage IV crush risk by closing before earnings.

Risk Alerts

!Spot close to OPEX max pain $700

!Elevated put skew indicates downside hedging

!Potential IV crush if vol contracts, hurting put spread premiums

How to Use These Reports

This theta reflects the market close on May 19, 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.