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SMCI

Super Micro Computer, Inc.Close $33.32EOD only

Max Pain

$30.50

Next expiry Jun 26, 2026

Expected Move

±$2.53

7.6% from close

Price Gap

-2.82

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.73

Slightly call-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: Jun 23, 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

Jun 23, 2026 close

SMCI Flow Report

Analysis based on market close June 24, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

4.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 6.4% from MP; +0.5 VIX 19

Watch next session: Gamma flip level $30; Jul2 33-37 call OI changes

Flow Summary

Net premium: -$6.4M bearish

P/C volume ratio: 0.62

P/C OI ratio: 0.72

SMCI sees heavy call buying for Jul2 at 33-37 strikes, indicating bullish near-term bias. Positive gamma ($67M) and high VIX pin spot near $35, but net premium negative suggests caution. Mixed flow regime with bullish call volume dominance. Key level: hold above $30 for bullish continuation.

Notable Prints

SMCI 2026-07-02 $33.00 Call

Vol: 8,734

OI: 674

Vol/OI: 13.0x

IV: 88.0%

Notional: ~$1.3M

Intent: Bullish speculation

Dual read: Delta hedging

Read-through: Expects upside to $33+

SMCI 2026-07-02 $34.50 Call

Vol: 5,495

OI: 643

Vol/OI: 8.6x

IV: 87.4%

Notional: ~$506K

Intent: Bullish bet

Read-through: Target ~$35

SMCI 2026-07-17 $18.00 Put

Vol: 4,666

OI: 772

Vol/OI: 6.0x

IV: 121.9%

Notional: ~$42K

Intent: Lottery hedge

Dual read: Vol play

Read-through: Tail risk protection

SMCI 2026-07-02 $35.50 Call

Vol: 5,982

OI: 1,183

Vol/OI: 5.1x

IV: 87.9%

Notional: ~$407K

Intent: Bullish OTM call

Dual read: Short closing

Read-through: Expects move to $35.5

SMCI 2026-06-26 $25.00 Put

Vol: 12,369

OI: 2,550

Vol/OI: 4.8x

IV: 155.5%

Notional: ~$87K

Intent: Lottery crash put

Read-through: Event risk hedge

Institutional Positioning

Call additions: Institutions added calls at $33, $34.5, $35.5, $37 expiring 7/2 with high vol/oi ratios.

Put additions: Institutions added puts at $25 (6/26), $32.50 (6/26), $47 (2027), $25 (2027), $18, $17 (7/17).

GEX/DEX consistency: GEX +$67.4M, DEX +63.4M shares; consistent positive gamma and long delta, but net premium negative.

OI clusters: Largest OI: $25 put 2550, $37 call 1582, $35.5 call 1183, $47 put 1127.

Hedging evidence: Put additions in $25 and $32.50 for 6/26 suggest downside hedging.

Max pain context: Spot above MP; gamma flip at $30 (7.6% below spot) pinning.

Signal vs Noise

~Unusual call volume in 7/2 $33-$37 is real institutional bullish flow.

~Large put buying in 6/26 $25 and $32.50 indicates hedging, not bearish.

~Net premium negative despite positive GEX suggests mixed positioning.

Key Conclusions

📈Significant call accumulation in weekly expiries suggests upward bias.

⚠️Heavy put buying near-term $25 and $32.50 warns of downside risk.

🔄Net premium negative with positive GEX reflects mixed positioning.

How to Use These Reports

This flow reflects the market close on June 24, 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.