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MU

Micron Technology, Inc.Close $731.99EOD only

Max Pain

$695.00

Next expiry May 22, 2026

Expected Move

±$50.38

6.9% from close

Price Gap

-36.99

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.30

Slightly put-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 20, 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 20, 2026 close

MU Theta Report

Analysis based on market close May 20, 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 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

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.

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.