thetaOwl
HomeOptionsMUReports

MU

Micron Technology, Inc.Close $878.84EOD only
Max Pain
$920.00
Next expiry Oct 19, 2026
Expected Move
±$29.65
3.4% from close
Price Gap
+41.16
Distance to max pain
IV Rank
24
Low premium
P/C OI
0.97
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: Oct 16, 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
Oct 16, 2026 close
MU Theta Report
Analysis based on market close June 4, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 4, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Sell put spreads or iron condors
Invalidation: Spot breaks below $505 support or VIX spikes above 20
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 15

IV Environment

IV Regime
High
IV vs VIX
IV at 118% vs VIX 15.4, extremely high premium
Favorable?
Yes

Term structure: Term structure in backwardation near-term, normal contango longer-term

📈IV 118% offers rich premium; VIX 15.4 low
⚠️Term structure steep; short-dated skew extreme

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+13.0M)

Gamma flip: ~$765.00 — Approx — based on put OI concentration of 25,226 (23.2% below spot)

OI concentrations: Max pain pins: $970 (1d), $920 (1w), $460 (2w); Call wall $1200, Put floor $505-$850

Verdict: Spot above max pain; strong pinning pressure near $970

Premium Opportunities

#1
Iron condor
Sell 2026-06-26 $970.00/$965.00 put wing and $1140.00/$1150.00 call wing
Collects time decay from both sides with defined risk
Credit: $4.61-$5.64
Max loss: $4.36
BE: 964.36 / 1145.64
Mgmt: Exit at 50% max profit or DTE Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
#2
Put credit spread
Sell 2026-06-26 $970.00/$965.00 put spread
Captures premium with defined risk on downside
Credit: $2.11-$2.58
Max loss: $2.42
BE: $967.42
Mgmt: Roll if spot breaks $970 Liquidity warning: Liquidity constraints: long_put: Open interest below 25.

Risk Alerts

!High put skew indicates tail risk; monitor gamma flip at $765
How to Use These Reports
This theta reflects the market close on June 4, 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.