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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 12, 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 6.7% from MP; +1 VIX 18

IV Environment

IV Regime

High

IV vs VIX

Average IV (123.8%) is 7x VIX (17.7%), extreme discrepancy.

Favorable?

Yes

Term structure: Term structure downward sloping in ATM IV but near-term put IV extreme (359% at 0 DTE). High near-term skew.

⚡Put IV of 359% on 0 DTE indicates extreme hedging demand; high premium for sellers.

📈Dealer GEX +$52.7M positive; long gamma supports pinning and dampens vol.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+52.7M)

Gamma flip: ~$730.00 — Approx — based on put OI concentration of 16,791 (25.6% below spot)

OI concentrations: Put floor $500-$800 (16.8k OI at 730 gamma flip), Call wall $1050-$1200. Max pain pins: $920 (6/12), $500 (6/18), $900 (6/26).

Verdict: Spot ~$981 is 6.7% above today's max pain ($920). High put OI below spot acts as support, but risk of pinning to $920 if sold.

Premium Opportunities

Call credit spread

Sell 2026-07-10 $1000.00/$1020.00 call spread

Sell $1000/$1020 call spread to capture elevated premium with defined risk.

Credit: $7.07-$8.64

Max loss: $11.36

BE: $1008.64

Mgmt: Close if spot nears $1000; hold to expiry for full decay. Monitor gamma if spot drops sharply.

Risk Alerts

!Gamma flip at $730: if spot drops 25%, massive dealer hedging could accelerate move.

!Spot 6.7% above max pain; potential mean reversion toward $920.

!Near-term IV extreme; vega exposure high if vol collapses.

How to Use These Reports

This theta reflects the market close on June 12, 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.