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SMCI

Super Micro Computer, Inc.Close $43.26EOD only

Max Pain

$38.00

Next expiry Oct 2, 2026

Expected Move

±$3.40

7.9% from close

Price Gap

-5.26

Distance to max pain

IV Rank

Low premium

P/C OI

0.83

Slightly call-heavy

Consensus

5.5/10

Range bias

Published snapshot: Sep 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

Sep 25, 2026 close

SMCI Flow Report

Analysis based on market close June 29, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 10.6% from MP; +1 VIX 18

Watch next session: Monitor put activity near 28; Watch gamma shift around 20

Flow Summary

Net premium: -$12.3M bearish

P/C volume ratio: 0.88

P/C OI ratio: 0.80

SMCI flow is mixed with net negative put premium but notable high-volume call buying at out-of-money strikes. Positive gamma and high VIX suggest pinning, yet spot 10% below max pain leaves room for rally. Bias mixed.

Notable Prints

SMCI 2026-07-31 $36.00 Call

Vol: 8,529

OI: 108

Vol/OI: 79.0x

IV: 90.9%

Notional: ~$725K

Intent: Bullish spec

Read-through: Aggressive call buying

SMCI 2026-07-02 $29.00 Call

Vol: 11,519

OI: 487

Vol/OI: 23.6x

IV: 96.0%

Notional: ~$922K

Intent: Bullish short-term

Read-through: New longs

SMCI 2026-07-02 $25.00 Put

Vol: 13,454

OI: 802

Vol/OI: 16.8x

IV: 115.2%

Notional: ~$377K

Intent: Bearish hedge

Read-through: Downside fear

SMCI 2026-07-02 $28.00 Put

Vol: 20,322

OI: 1,469

Vol/OI: 13.8x

IV: 97.1%

Notional: ~$2.2M

Intent: Bearish near spot

Read-through: Protective

SMCI 2026-07-10 $22.00 Put

Vol: 2,397

OI: 178

Vol/OI: 13.5x

IV: 108.4%

Notional: ~$55K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: OTM calls $36 Jul31, $29 Jul2/10

Put additions: Puts $28/$25/$27.5 Jul2; $22/$20 Jul10

GEX/DEX consistency: Mixed flow; GEX+ DEX+; puts hedge

OI clusters: Gamma flip $20; put OI heavy below

Hedging evidence: Put buys at 25-28 hedge downside

Max pain context: Spot below MP; gamma pinning

Signal vs Noise

~Real signal: large OTM call buys show bullish speculation

~Real signal: put accumulation at 25-28 signals hedging or bearish view

~Noise: small OI on many prints, likely spread trades

~Noise: high IV inflates volumes

Key Conclusions

🐻Institutions hedging downside via puts at 25-28

🐂Speculative call buying at OTM strikes

⚠️Gamma pinning may keep spot contained

How to Use These Reports

This flow reflects the market close on June 29, 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.