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SMCI

Super Micro Computer, Inc.Close $37.00EOD only
Max Pain
$35.00
Next expiry Sep 4, 2026
Expected Move
±$1.72
4.7% from close
Price Gap
-2.00
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.78
Slightly call-heavy
Consensus
5.5/10
Range bias
Published snapshot: Sep 2, 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 2, 2026 close
SMCI Theta Report
Analysis based on market close June 4, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 4, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short Premium
Invalidation: Spot breaks below $41 or above $52.74
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 15.8% from MP; +1 VIX 15

IV Environment

IV Regime
High
IV vs VIX
95% avg IV vs 15.4 VIX – extremely rich
Favorable?
Yes

Term structure: Near-term IV steep, backwardation at 1d to 8d, then flattish

🔥IV elevated; decay potential high
📈Positive GEX +$102.9M supports pinning

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+102.9M)

OI concentrations: Clustered at $40 put and $50-$60 call strikes

Verdict: High pin risk near $40 for June 5; call wall caps upside

Premium Opportunities

#1
Put credit spread
Sell 2026-08-21 $45.00/$42.00 put spread
Define-risk premium capture on high-IV name with support at $45.
Credit: $1.33-$1.62
Max loss: $1.38
BE: $43.38
Mgmt: Close at 50% profit or stop at $41.07.

Risk Alerts

!Gamma flip on sharp vol expansion
!Wide bid-ask in OTM options
How to Use These Reports
This theta reflects the market close on June 4, 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.