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MU

Micron Technology, Inc.Close $1087.99EOD only
Max Pain
$560.00
Next expiry Jun 18, 2026
Expected Move
±$90.20
8.3% from close
Price Gap
-527.99
Distance to max pain
IV Rank
100
High premium
P/C OI
1.45
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Jun 15, 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 15, 2026 close
MU Theta Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Premium selling
Invalidation: Spot breaks below gamma flip at 730 or above resistance at 1216
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 59.5% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
IV avg 129.7% vs VIX 16.4, very rich
Favorable?
Yes

Term structure: Steep skew; near-term put IV elevated (341% vs call 347% at 2d), indicating downside hedging demand

📊Put-call OI ratio 1.48, put-heavy
⚠️Near-term IV spikes on put side suggest event risk

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+31.4M)

Gamma flip: ~$730.00 — Approx — based on put OI concentration of 16,761 (28.5% below spot)

OI concentrations: Max pain for 6/18: $640 (far below spot). Put floor $530-$900. Call wall $1200.

Verdict: Low near-term pin risk; reversion to max pain unlikely

Premium Opportunities

#1
Iron condor
Sell 2026-07-10 $1000.00/$975.00 put wing and $1050.00/$1070.00 call wing
Captures premium within a high-probability range with defined risk.
Credit: $19.17-$23.43
Max loss: $1.57
BE: 976.57 / 1073.43
Mgmt: Exit if spot breaks below 975 or above 1050.
#2
Short strangle
Sell 2026-07-17 $980.00 put + sell $1070.00 call
Sells calls and puts for maximum theta decay.
Credit: $184.63-$225.66
Max loss: Unlimited
BE: 754.34 / 1295.66
Mgmt: Monitor gamma flip at 730; consider rolling if breached.
#3
Put credit spread
Sell 2026-07-17 $1000.00/$980.00 put spread
Sells put spread to collect premium with defined risk.
Credit: $9.45-$11.55
Max loss: $8.45
BE: $988.45
Mgmt: Exit at 50% max gain or if spot falls below 825.

Risk Alerts

!Downside tail risk from high put IV skew
!Gamma flip at 730 triggers dealer hedging
!Spot 59.5% from max pain
How to Use These Reports
This theta reflects the market close on June 16, 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.