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SMCI

Super Micro Computer, Inc.Close $31.68EOD only

Max Pain

$31.00

Next expiry Jun 26, 2026

Expected Move

±$1.31

4.2% from close

Price Gap

-0.68

Distance to max pain

IV Rank

Low premium

P/C OI

0.76

Slightly call-heavy

Consensus

6.0/10

Bullish tilt

Published snapshot: Jun 25, 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 25, 2026 close

SMCI Flow Report

Analysis based on market close June 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.2% from MP; +0.5 VIX 18

Watch next session: 31.5 call activity; 34 call activity; 21 put activity; GEX shift

Flow Summary

Net premium: -$12.4M bearish

P/C volume ratio: 0.57

P/C OI ratio: 0.75

Mixed. Net premium negative ($-12.3M) but GEX positive (+$46.6M). Heavy call volume at 31.5/34 strikes vs large put at 21. Gamma pinning near 30, VIX at 18.4. Conflicting signals suggest range-bound action with bullish tilt near support.

Notable Prints

SMCI 2026-07-10 $21.00 Put

Vol: 9,121

OI: 135

Vol/OI: 67.6x

IV: 107.8%

Notional: ~$73K

Intent: Bearish

Dual read: Hedge

Read-through: Downside

SMCI 2026-07-02 $31.50 Call

Vol: 19,476

OI: 1,406

Vol/OI: 13.8x

IV: 73.2%

Notional: ~$1.7M

Intent: Bullish

Dual read: Speculation

Read-through: Upside

SMCI 2026-07-02 $34.00 Call

Vol: 19,594

OI: 1,624

Vol/OI: 12.1x

IV: 74.8%

Notional: ~$549K

Intent: Bullish

Dual read: Speculation

Read-through: Upside

SMCI 2026-07-02 $31.00 Call

Vol: 2,125

OI: 490

Vol/OI: 4.3x

IV: 73.5%

Notional: ~$230K

Intent: Bullish

Dual read: Speculation

Read-through: Upside

SMCI 2026-07-02 $31.00 Put

Vol: 1,869

OI: 518

Vol/OI: 3.6x

IV: 70.9%

Notional: ~$256K

Intent: Bearish

Dual read: Hedge

Read-through: Downside

Institutional Positioning

Call additions: Short-dated 7/2 calls at $31.5-$34; also 7/24 $38 & 7/31 $34.5 calls.

Put additions: Tail put at $21 (7/10) and near-term puts at $31.

GEX/DEX consistency: GEX +$46.6M and DEX +59.3M shares both positive, consistent with net call buying.

OI clusters: Largest OI at $31 (6/26 puts 4.6k, 7/2 calls ~1.4k) and $31.5 (6/26 calls 5.7k).

Hedging evidence: Far OTM $21 put (7/10) tail hedge; $31 puts hedge long positions.

Max pain context: Spot below MP, positive gamma suggests pinning to ~$30-31.

Signal vs Noise

~High vol/oi on 7/10 $21 put (67.6) signal: tail hedge.

~Large 7/2 $31.5 & $34 call volume signal: bullish positioning.

~6/26 $31.5 call low IV (31%) noise: likely early exercise or closing.

Key Conclusions

📈Institutions buying upside calls aggressively near-term, $31.5-$34 strikes.

🛡️Deep OTM $21 put tail hedge indicates downside risk hedging.

🎯Positive gamma likely pins spot to $30-31 MP.

How to Use These Reports

This flow reflects the market close on June 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.