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MU

Micron Technology, Inc.Close $1048.51EOD only

Max Pain

$1050.00

Next expiry Jun 26, 2026

Expected Move

±$116.83

11.1% from close

Price Gap

+1.49

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.47

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 24, 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 24, 2026 close

MU Theta Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 16.7% from MP; +0.5 VIX 19

IV Environment

IV Regime

High

IV vs VIX

MU avg IV 107% vs VIX 19 — extremely elevated

Favorable?

Yes

Term structure: Atm IV rises from 78.55 (1D) to ~90 (7D) then stable; extreme put skew at front (put 349% vs call 122%)

⚠️Extreme put skew at front expiry (put IV 349% vs call 122%) suggests severe downside fear.

🟢GEX +$71.9M positive; dealers long gamma supporting pinning into max pain.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+71.9M)

Gamma flip: ~$1000.00 — Approx — based on put OI concentration of 16,893 (17.6% below spot)

OI concentrations: Put OI concentrated at $1000 (16.9k contracts, 17.6% below spot); max pain pins at $1040 (Jun 26), $1000 (Jul 2,10)

Verdict: Spot at ~1214 is above put concentration and max pain, reducing immediate pin risk; downside tail risk remains if support breaks.

Premium Opportunities

Call diagonal

Sell 2026-07-31 $1480.00 call / buy 2026-09-18 $1690.00 call

Sell near-term call, buy later-dated call to capture IV premium decay.

Debit: $25.58-$31.27

Max loss: $31.27

BE: Path-dependent

Mgmt: Monitor vol and spot; exit if spot nears short strike or vol collapses.

Put diagonal

Sell 2026-07-31 $1095.00 put / buy 2026-09-18 $1070.00 put

Sell near-term put, buy later-dated put to profit from volatility normalization.

Debit: $45.70-$55.85

Max loss: $55.85

BE: Path-dependent

Mgmt: Watch closely due to poor liquidity; exit if spot approaches invalidation. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.

Risk Alerts

!Event risk (potential earnings) driving extreme put skew

!IV crush after expiry could collapse premiums

!Downside tail risk from heavy put OI concentration at $1000

How to Use These Reports

This theta reflects the market close on June 25, 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.