thetaOwl
HomeOptionsSMCIReports

SMCI

Super Micro Computer, Inc.Close $30.56EOD only
Max Pain
$31.00
Next expiry May 22, 2026
Expected Move
±$2.02
6.6% from close
Price Gap
+0.44
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.83
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: May 19, 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 19, 2026 close
SMCI Theta Report
Analysis based on market close May 19, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness9 / 10
Sizing: Aggressive
Primary: Short put spreads
Invalidation: Break below $28.54 support
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.4% from MP; +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
IV >80% vs VIX 18, elevated
Favorable?
Yes

Term structure: Front-end elevated, contango from 6/12

🔴Put IV 142% on 5/22 reflects fear
🟢High IV favorable for premium sellers

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+40.1M)

OI concentrations: Max pain $31 (5/22), $30 (5/29,6/5); call OI wall $34-$40; put floor $20

Verdict: Stock below MP, gamma pinning supports move to $31; call wall caps upside

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $30.00/$26.00 put spread
Sell $30/$26 put spread to collect premium with limited downside risk.
Credit: $1.51-$1.85
Max loss: $2.15
BE: $28.15
Mgmt: Monitor support at $28.54; close if stock breaches to limit loss.
#2
Cash-secured put
Sell 2026-06-18 $28.00 cash-secured put
Sell $28 put to collect premium, willing to own stock at discount.
Credit: $1.26-$1.54
Max loss: $26.46
BE: $26.46
Mgmt: Roll if stock approaches $28 to avoid assignment; set stop at invalidation.

Risk Alerts

!No earnings in window
!Gamma flip not present
How to Use These Reports
This theta reflects the market close on May 19, 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.