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MU

Micron Technology, Inc.Close $1043.19EOD only
Max Pain
$660.00
Next expiry Jun 18, 2026
Expected Move
±$49.53
4.8% from close
Price Gap
-383.19
Distance to max pain
IV Rank
100
High premium
P/C OI
1.44
Slightly put-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Jun 17, 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 17, 2026 close
MU Theta Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Put Credit Spreads
Invalidation: Spot breaks below $800 gamma flip
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 71.8% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV avg 113% vs VIX 17, elevated
Favorable?
Yes

Term structure: Steeply downward sloping with extreme put skew at front

⚠️Put IV 240% for 8dte, extreme skew
📈Dealers long gamma +$30M, pinning

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+30.3M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 11,734 (29.5% below spot)

OI concentrations: Heavy put concentration $600-$900, max pain $660/$970, 29.5% below spot

Verdict: Elevated pin risk; spot may drift toward gamma flip $800

Premium Opportunities

#1
Put credit spread
Sell 2026-07-10 $990.00/$980.00 put spread
Exploits extreme put skew and high IV with defined risk bullish bias.
Credit: $2.81-$3.44
Max loss: $6.56
BE: $986.56
Mgmt: Exit before earnings if liquidity concerns persist; manage pin risk. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.
#2
Iron condor
Sell 2026-07-10 $990.00/$980.00 put wing and $1400.00/$1410.00 call wing
Neutral range-bound expectation with limited risk.
Credit: $3.87-$4.73
Max loss: $5.27
BE: 985.27 / 1404.73
Mgmt: Close early if spot approaches wings; profit target 50% of max gain. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.
#3
Call diagonal
Sell 2026-07-10 $1350.00 call / buy 2026-08-21 $1230.00 call
Term structure and IV crush edge with long-term upside.
Debit: $93.49-$114.26
Max loss: $114.26
BE: Path-dependent
Mgmt: Leg out short before earnings; hold long leg for earnings move.

Risk Alerts

!Extreme put skew in weekly options
!Spot far from max pain $660
How to Use These Reports
This theta reflects the market close on June 18, 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.