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MU

Micron Technology, Inc.Close $762.10EOD only
Max Pain
$700.00
Next expiry May 22, 2026
Expected Move
±$27.20
3.6% from close
Price Gap
-62.10
Distance to max pain
IV Rank
58
Middle-high premium
P/C OI
1.30
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: May 21, 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 21, 2026 close
MU Theta Report
Analysis based on market close May 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness3 / 10
Sizing: Conservative
Primary: Hedged neutral strategies
Invalidation: Break below $710 max pain or above $800 call wall
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.8% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV significantly above VIX, especially put skew (217% at 0DTE)
Favorable?
No

Term structure: 0DTE ATM low (15%), puts extreme; weeklies 74%, longer tenors stable 80-85%

⚠️Extreme put skew indicates hedging demand; high pinning risk at $710

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+59.3M)

Gamma flip: ~$620.00 — Approx — based on put OI concentration of 17,533 (17.4% below spot)

OI concentrations: Max pain $710 (0DTE), $690 (week), $670 (2 weeks); put OI floor $400-$650; call wall $800-$1000

Verdict: High pinning risk; spot above MP but GEX positive; caution on short premium

Premium Opportunities

#1
Put diagonal
Sell 2026-05-29 $690.00 put / buy 2026-06-26 $590.00 put
Short near-term put, long longer-dated put to capture skew premium.
Debit: $6.80-$8.31
Max loss: $8.31
BE: Path-dependent
Mgmt: Monitor invalidation at $710; roll if breached.
#2
Put credit spread
Sell 2026-05-29 $702.50/$690.00 put spread
Sell put spread below support to collect premium with defined risk.
Credit: $2.50-$3.05
Max loss: $9.45
BE: $699.45
Mgmt: Exit if spot breaks below $710.

Risk Alerts

!Gamma flip at $620 (17.4% below spot)
!VIX at 17, potential vol expansion
!Extreme skew in front-month puts
How to Use These Reports
This theta reflects the market close on May 22, 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.