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MU

Micron Technology, Inc.Close $1082.28EOD only

Max Pain

$1040.00

Next expiry Sep 28, 2026

Expected Move

±$26.82

2.5% from close

Price Gap

-42.28

Distance to max pain

IV Rank

Low premium

P/C OI

1.08

Balanced positioning

Consensus

7.0/10

Bullish tilt

Published snapshot: Sep 25, 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

Sep 25, 2026 close

MU Theta Report

Analysis based on market close May 13, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from May 13, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 33.9% from MP; +1 VIX 18; override: Base5 +2GEX/Flow +1GEXPin -1SpotDist +1VIX18

IV Environment

IV Regime

High

IV vs VIX

Avg IV 111% >> VIX 18, extreme skew 2D puts IV 261%.

Favorable?

Yes

Term structure: Front-end skew extreme; ATM IV peaks at 9D (102%), then declines to 85% by 310D.

⚠️2D put IV 261% vs call 202% - extreme put skew suggests fear of downside.

📈Term structure downward sloping after 9D; longer-dated IV still elevated but normal.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+48.5M)

Gamma flip: ~$620.00 — Approx — based on put OI concentration of 15,576 (22.9% below spot)

OI concentrations: Put OI $405-$650 (floor), Call OI $900-$1000 (wall). Max pain: $600 (2D), $650 (9D).

Verdict: Moderate pin risk; gamma flip at $620 and put concentration below spot create potential for pinning.

Premium Opportunities

Put credit spread

Sell 2026-07-17 $710.00/$580.00 put spread

Sell 710/580 put spread, capturing elevated IV and skew with limited risk.

Credit: $40.63-$49.66

Max loss: $80.34

BE: $660.34

Mgmt: Manage near 670.5 invalidation; exit if price breaks support.

Risk Alerts

!High put skew may indicate hedging demand; spot below gamma flip could accelerate selling.

!Call wall at $900-$1000 may cap rallies; watch for volume near those strikes.

How to Use These Reports

This theta reflects the market close on May 13, 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.