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SMCI

Super Micro Computer, Inc.Close $32.79EOD only

Max Pain

$30.50

Next expiry May 15, 2026

Expected Move

±$2.17

6.6% from close

Price Gap

-2.29

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.83

Slightly call-heavy

Consensus

6.0/10

Neutral tilt

Published snapshot: May 12, 2026 close

End-of-day snapshot

This page reflects SMCI options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 12, 2026 close

SMCI Flow Report

Analysis based on market close May 13, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 3.2% from MP; +1 VIX 18

Watch next session: Monitor $33.50 and $36 calls for continuation.

Flow Summary

Net premium: -$5.1M bearish

P/C volume ratio: 0.38

P/C OI ratio: 0.82

Call-dominated flow with net premium negative suggests call selling or spreads. Low put/call ratio and positive gamma favor bullish. Unusual prints: large OTM call buying, deep ITM put anomaly. Mixed but leans bullish.

Notable Prints

SMCI 2026-05-22 $33.50 Call

Vol: 10,200

OI: 458

Vol/OI: 22.3x

IV: 78.5%

Notional: ~$1.1M

Intent: Bullish speculation

Read-through: High vol/oi, new calls

SMCI 2026-05-22 $36.00 Call

Vol: 11,560

OI: 1,321

Vol/OI: 8.8x

IV: 80.7%

Notional: ~$520K

Intent: Bearish spread

Dual read: Or short-term upside

Read-through: Short OTM calls

SMCI 2026-06-05 $31.00 Put

Vol: 813

OI: 105

Vol/OI: 7.7x

IV: 75.3%

Notional: ~$158K

Intent: Hedge

Read-through: Protective puts

SMCI 2026-05-29 $28.50 Put

Vol: 858

OI: 126

Vol/OI: 6.8x

IV: 76.1%

Notional: ~$52K

Intent: Speculative bearish

Dual read: Hedge

Read-through: Puts below spot

SMCI 2026-05-15 $70.00 Put

Vol: 3,550

OI: 800

Vol/OI: 4.4x

IV: 467.6%

Notional: ~$12.6M

Intent: Stock replacement

Dual read: Deep ITM put

Read-through: Synthetic long

Institutional Positioning

Call additions: May22 $33.5 (10.2k) & $36 (11.6k) calls; Jan27 $24 & Dec18 $21 calls.

Put additions: Modest May29 $28.5/32, Jun5 $31 puts; anomalous May15 $70 put (3.5k).

GEX/DEX consistency: GEX +54.4M, DEX +62.3M — consistent with pinning.

OI clusters: OI: May22 $33.5 (458) & $36 (1321) calls; May15 $70 put (800 OI).

Hedging evidence: May29 $32/28.5 puts likely downside hedges; $70 put may be spread.

Max pain context: Spot above MP; pinning near $33-34 range.

Signal vs Noise

~Signal: May22 $33.5/$36 call flurry (vol/OI >8) and long-dated calls. Noise: May15 $70 put (IV 467%) likely a butterfly.

~Signal: Positive GEX/DEX and low put/call volume ratio. Noise: Modest put buys normal hedging.

Key Conclusions

📈Heavy near-term call additions signal institutional bullishness.

🛡️Defensive put buying but net premium negative suggests caution.

How to Use These Reports

This flow reflects the market close on May 13, 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.