thetaOwl
HomeOptionsMUReports

MU

Micron Technology, Inc.Close $877.55EOD only
Max Pain
$900.00
Next expiry Oct 26, 2026
Expected Move
±$26.02
3.0% from close
Price Gap
+22.45
Distance to max pain
IV Rank
11
Low premium
P/C OI
1.03
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: Oct 23, 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 23, 2026 close
MU Theta Report
Analysis based on market close June 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 10, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Put Credit Spreads around max pain
Invalidation: Spot breaks below $730 (gamma flip) or above $920 (max pain)
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.1% from MP

IV Environment

IV Regime
High
IV vs VIX
IV 122.78% vs VIX 22.22, 5.5x elevated
Favorable?
Yes

Term structure: Term hump at 16d (113.17%); put skew extreme at 30d (419%)

⚠️IV far above VIX, elevated single-stock premium
📊Term structure peaks at 16d; put skew extreme at 30d

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+6.6M)

Gamma flip: ~$730.00 — Approx — based on put OI concentration of 16,818 (18.2% below spot)

OI concentrations: Call wall $1000-$1050; Put floor $450-$790; Gamma flip ~$730

Verdict: Spot ~$892, max pain $920 for 2d, pin risk at $920; gamma flip at $730 supports downside

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $720.00/$710.00 put spread
Sell $720/$710 put spread for defined risk.
Credit: $2.43-$2.97
Max loss: $7.03
BE: $717.03
Mgmt: Close at 50% max profit or before earnings.
#2
Short strangle
Sell 2026-07-17 $720.00 put + sell $920.00 call
Sell $720 put and $920 call for wide premium.
Credit: $136.94-$167.37
Max loss: Unlimited
BE: 552.63 / 1087.37
Mgmt: Stop-loss at 2x premium; tighten before earnings.

Risk Alerts

!High put/call OI ratio (1.43) suggests hedging
!Extreme 30d put IV (419%) indicates deep OTM put premium
How to Use These Reports
This theta reflects the market close on June 10, 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.