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MU

Micron Technology, Inc.Close $803.63EOD only

Max Pain

$600.00

Next expiry May 15, 2026

Expected Move

±$54.83

6.8% from close

Price Gap

-203.63

Distance to max pain

IV Rank

100

High premium

P/C OI

1.27

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 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

May 13, 2026 close

MU Theta Report

Analysis based on market close May 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 29.3% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

Avg IV 109.7% vs VIX 17.3 – extremely high relative vol

Favorable?

Yes

Term structure: Near-term contango: 1 DTE 78% < 8 DTE 97%; then declining to 84% at 12mo

📊Put OI ratio 1.29 strong put wall $400–$650

⚠️Spot 29% above MP, risk of pinning lower

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+29.0M)

Gamma flip: ~$620.00 — Approx — based on put OI concentration of 17,513 (20.1% below spot)

OI concentrations: Put floor $400–$650; call wall $900; gamma flip at $620 (put OI)

Verdict: Moderate pin risk – spot above MP but put floor may hold

Premium Opportunities

Put credit spread

Sell 2026-06-26 $665.00/$540.00 put spread

Sell $665/$540 put spread 41 days out.

Credit: $28.04-$34.27

Max loss: $90.73

BE: $630.73

Mgmt: Exit below $620.

Covered call

Buy shares + sell 2026-07-17 $1050.00 call

Buy shares, sell $1050 call 41dte.

Credit: $44.17-$53.98

Max loss: Stock downside to $0 less call premium

BE: $722.03

Mgmt: Roll if near $1050.

Iron condor

Sell 2026-06-26 $695.00/$590.00 put wing and $990.00/$1080.00 call wing

Sell $695/$590 put & $990/$1080 call wings.

Credit: $40.43-$49.42

Max loss: $55.58

BE: 645.58 / 1039.42

Mgmt: Monitor extremes; exit if breached. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Risk Alerts

!Gamma flip at $620 if broken could trigger selloff

!High put/call OI ratio (1.29) raises expiration risk

How to Use These Reports

This theta reflects the market close on May 14, 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.