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SMCI

Super Micro Computer, Inc.Close $33.46EOD only

Max Pain

$31.50

Next expiry May 22, 2026

Expected Move

±$1.13

3.4% from close

Price Gap

-1.96

Distance to max pain

IV Rank

Low premium

P/C OI

0.80

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

SMCI Flow Report

Analysis based on market close May 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.2% from MP; +1 VIX 17

Watch next session: $29.00; $33.00; $35.00

Flow Summary

Net premium: +$3.0M bullish

P/C volume ratio: 0.69

P/C OI ratio: 0.80

Aggressive put selling dominant; net premium +$2.99M. Put/call ratios low, GEX positive. Spot above MP with bullish flow regime. Unusual put prints cluster at $29, suggesting bearish hedging but overall flow leaning bullish.

Notable Prints

SMCI 2026-05-29 $29.00 Put

Vol: 2,312

OI: 448

Vol/OI: 5.2x

IV: 69.9%

Notional: ~$30K

Intent: Speculative put buying

Dual read: Hedging long positions

Read-through: Bearish near-term sentiment

SMCI 2026-05-29 $18.00 Put

Vol: 1,441

OI: 495

Vol/OI: 2.9x

IV: 162.5%

Notional: ~$3K

Intent: Lottery ticket

Dual read: Profit-taking on short

Read-through: Expects high volatility

SMCI 2026-06-26 $31.50 Put

Vol: 426

OI: 160

Vol/OI: 2.7x

IV: 70.1%

Notional: ~$104K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

SMCI 2026-05-22 $33.00 Put

Vol: 3,934

OI: 1,708

Vol/OI: 2.3x

IV: 57.0%

Notional: ~$146K

Intent: Bearish bet

Dual read: Covering short puts

Read-through: Sell pressure near $33

SMCI 2026-08-21 $27.00 Put

Vol: 1,507

OI: 726

Vol/OI: 2.1x

IV: 77.2%

Notional: ~$351K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Calls dominate, net premium +$3M

Put additions: Puts at $29, $33, $18 (Jan '27 $50)

GEX/DEX consistency: Consistent: GEX +$125M, DEX +59M, bullish gamma

OI clusters: Largest OI: $30-$35 calls, $29 put

Hedging evidence: Short-dated puts hedge near $29

Max pain context: Spot 6.2% above MP ~$33, gamma pinning

Signal vs Noise

~Bullish flow and positive GEX are signal

~Small put buying is noise

~High IV on far OTM puts is noise

Key Conclusions

📈Bullish flow: net premium +$3M, put/call ratio 0.69

🔒Gamma pinning: GEX +$125M supports upside

⚠️Downside hedging: short-dated puts at $29, $33

How to Use These Reports

This flow reflects the market close on May 21, 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.