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MU

Micron Technology, Inc.Close $940.76EOD only
Max Pain
$995.00
Next expiry Aug 19, 2026
Expected Move
±$27.93
3.0% from close
Price Gap
+54.24
Distance to max pain
IV Rank
24
Low premium
P/C OI
1.21
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Aug 18, 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
Aug 18, 2026 close
MU Theta Report
Analysis based on market close May 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 20, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: N/A
Invalidation: Spot below $620
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.3% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV 100% vs VIX 17.4 – rich premiums
Favorable?
Yes

Term structure: Contango 95% to 81%, but put skew extreme (300% on 6/5)

⚠️High IV with pinning; attractive but watch gamma flip
📈GEX +$35.9M positive; pinning to $695 max pain

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+35.9M)

Gamma flip: ~$620.00 — Approx — based on put OI concentration of 17,459 (15.3% below spot)

OI concentrations: Call wall $800; put floor $400-$650; 17,459 puts 15.3% below spot

Verdict: Pin at $695, but gamma flip at $620 risks downside

Premium Opportunities

#1
Put credit spread
Sell 2026-06-26 $710.00/$685.00 put spread
Sell $710/$685 put spread, collect up to $12.24 credit, max loss $12.76.
Credit: $10.01-$12.24
Max loss: $12.76
BE: $697.76
Mgmt: Close at 50% profit or if spot breaches $695.
#2
Call diagonal
Sell 2026-06-26 $780.00 call / buy 2026-07-17 $730.00 call
Sell June 26 $780 call, buy July 17 $730 call, net debit up to $42.13.
Debit: $34.47-$42.13
Max loss: $42.13
BE: Path-dependent
Mgmt: Adjust or close if spot falls below $695.

Risk Alerts

!Gamma squeeze if spot holds above $695
!Monitor spot vs gamma flip $620
How to Use These Reports
This theta reflects the market close on May 20, 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.