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MU

Micron Technology, Inc.Close $981.61EOD only
Max Pain
$500.00
Next expiry Jun 18, 2026
Expected Move
±$100.92
10.3% from close
Price Gap
-481.61
Distance to max pain
IV Rank
100
High premium
P/C OI
1.46
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 12, 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
Jun 12, 2026 close
MU Theta Report
Analysis based on market close June 11, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 11, 2026. A newer theta report is available for June 12, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short premium near max pain
Invalidation: Spot below $730 gamma flip or above $1050 resistance
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.5% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Extremely elevated vs VIX (121% vs 19.44)
Favorable?
Yes

Term structure: Front-end IV spiked to 87-112%, put IV extreme at 321% (1d); longer-term IV 90-110%

🎯Max pain pins at $918, $500, $900; spot above at $1047
⚠️Put IV 321% on 1d reflects high downside demand
📈GEX +$57.8M positive; dealer hedging supports pinning

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+57.8M)

Gamma flip: ~$730.00 — Approx — based on put OI concentration of 16,831 (26.7% below spot)

OI concentrations: Call OI wall at $1050; put OI floor $500-$800; multiple max pain pins

Verdict: At $1047, spot near call wall; pin risk elevated for weekly expirations

Premium Opportunities

#1
Put credit spread
Sell 2026-07-10 $895.00/$760.00 put spread
Sell put spread at $895/$760 to collect elevated premium, betting spot holds above support.
Credit: $35.50-$43.39
Max loss: $91.61
BE: $851.61
Mgmt: Close if spot breaches $917.5 invalidation; adjust as earnings exit approaches.
#2
Iron condor
Sell 2026-07-10 $895.00/$695.00 put wing and $1220.00/$1390.00 call wing
Sell put spread at $895/$695 and call spread at $1220/$1390, profiting from range-bound.
Credit: $67.32-$82.28
Max loss: $117.72
BE: 812.72 / 1302.28
Mgmt: Monitor pin risk; close early if spot approaches either wing. Liquidity warning: Liquidity constraints: long_put: Volume below 5.; short_call: Open interest below 25.; long_call: Volume below 5.

Risk Alerts

!Spot above max pain ($918) near call resistance ($1050)
!Gamma flip at $730: sharp drop could trigger dealer hedging
!Front-week put IV at 321% signals tail risk
How to Use These Reports
This theta reflects the market close on June 11, 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.