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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 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness3 / 10
Sizing: Conservative
Primary: Wait for better setup
Invalidation: Spot closes below $870 support or above $1300 resistance
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 94.3% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
IV (130%) >> VIX (16), extreme premium.
Favorable?
No

Term structure: Front-end ATM IV spikes to 99-120%, then decays to ~94% by Dec. Irregular term structure.

⚠️IV elevated, but pinning gamma and high put OI ratio (1.45) add risk.
📈GEX +$47.1M positive, supports nearby levels.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+47.1M)

Gamma flip: ~$900.00 — Approx — based on put OI concentration of 8,489 (17.3% below spot)

OI concentrations: Put OI heavy $560-$900, call wall $1200. Max pain pins: 18Jun $560, 26Jun $925, 2Jul $905.

Verdict: Moderate pin risk; put floor may act as support, call wall as resistance.

Premium Opportunities

#1
Call diagonal
Sell 2026-07-10 $1320.00 call / buy 2026-07-17 $1240.00 call
Sells near-term high IV call, buys later-term lower IV call, profiting from IV contraction.
Debit: $27.61-$33.74
Max loss: $33.74
BE: Path-dependent
Mgmt: Exit if underlying breaches invalidation level $870 or IV expands unexpectedly.
#2
Put diagonal
Sell 2026-07-10 $980.00 put / buy 2026-07-17 $1060.00 put
Sells near-term high IV put, buys later-term put, capturing IV crush.
Debit: $43.90-$53.65
Max loss: $53.65
BE: Path-dependent
Mgmt: Close if put OI shifts or support breaks.
#3
Iron condor
Sell 2026-07-10 $940.00/$845.00 put wing and $1380.00/$1520.00 call wing
Sells OTM call and put spreads, collecting premium from elevated IV.
Credit: $38.79-$47.41
Max loss: $92.59
BE: 892.59 / 1427.41
Mgmt: Monitor delta; adjust if spot approaches wings.

Risk Alerts

!High put-call OI ratio (1.45) suggests heavy put positioning, risk of pinning.
How to Use These Reports
This theta reflects the market close on June 15, 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.