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SMCI

Super Micro Computer, Inc.Close $35.58EOD only

Max Pain

$31.00

Next expiry May 29, 2026

Expected Move

±$2.83

8.0% from close

Price Gap

-4.58

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.80

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 22, 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 22, 2026 close

SMCI Flow Report

Analysis based on market close May 26, 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 19.7% from MP; +1 VIX 17

Watch next session: Monitor weekly call volume for continuation; Watch for gamma squeeze above $40

Flow Summary

Net premium: +$42.5M bullish

P/C volume ratio: 0.23

P/C OI ratio: 0.80

Aggressive call accumulation with $42.5M net premium. Unusual prints at $40-$49 calls. GEX +$92M supports pinning. Bullish bias.

Notable Prints

SMCI 2026-07-17 $49.00 Call

Vol: 3,070

OI: 133

Vol/OI: 23.1x

IV: 86.5%

Notional: ~$485K

Intent: speculative bullish

Dual read: or short covering

Read-through: anticipates price above $49 by July

SMCI 2026-05-29 $40.50 Call

Vol: 2,573

OI: 160

Vol/OI: 16.1x

IV: 91.8%

Notional: ~$90K

Intent: aggressive near-term bullish

Dual read: possible spread component

Read-through: expects move above $40.50 by May 29

SMCI 2026-05-29 $36.00 Put

Vol: 3,041

OI: 204

Vol/OI: 14.9x

IV: 83.2%

Notional: ~$243K

Intent: hedge or bearish bet

Dual read: protective put

Read-through: trader sees downside risk to $36 by May 29

SMCI 2026-05-29 $48.00 Call

Vol: 1,771

OI: 291

Vol/OI: 6.1x

IV: 118.0%

Notional: ~$7K

Intent: lottery ticket

Dual read: cheap hedge

Read-through: very bullish view, low probability

SMCI 2026-05-29 $37.50 Call

Vol: 5,191

OI: 1,177

Vol/OI: 4.4x

IV: 83.8%

Notional: ~$587K

Intent: bullish near-term

Dual read: potential closing

Read-through: expects bounce above $37.50 by May 29

Institutional Positioning

Call additions: Aggressive call buying at strikes $37-$49, notably $37.5C (5191 vol), $38C (8422), $40C (7661), and $49C (3070 vol, 23x OI).

Put additions: Modest put buying at $36 (3041 vol) and $34.5 (553 vol), likely hedging.

GEX/DEX consistency: Consistent: GEX +$92M, DEX +64.2M shares, flow bullish.

OI clusters: Largest OI in calls at $38 (2698), $40 (2149), $37.5 (1177); puts small.

Hedging evidence: Puts at $36 and $34.5 suggest downside protection.

Max pain context: Spot above max pain; pinning around $38-$40.

Signal vs Noise

~Heavy call volume with high vol/OI ratios (23x, 16x) is strong bullish signal.

~Elevated VIX (17) provides context but not noise.

~Small put volume is noise relative to call dominance.

Key Conclusions

📈Institutions aggressively adding calls, indicating bullish outlook.

📌GEX positive and DEX positive; pinning above max pain supports upside.

⚠️Elevated VIX (17) but flow consistent; watch for volatility expansion.

How to Use These Reports

This flow reflects the market close on May 26, 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.