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SMCI

Super Micro Computer, Inc.Close $39.59EOD only

Max Pain

$36.00

Next expiry Sep 11, 2026

Expected Move

±$2.90

7.3% from close

Price Gap

-3.59

Distance to max pain

IV Rank

Low premium

P/C OI

0.77

Slightly call-heavy

Consensus

5.5/10

Range bias

Published snapshot: Sep 4, 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 4, 2026 close

SMCI Theta Report

Analysis based on market close June 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 9, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 20

IV Environment

IV Regime

High

IV vs VIX

IV 94.6% vs VIX 19.9% – rich premiums

Favorable?

Yes

Term structure: Near-term 3d high at 89.5%, dips to 83.7% by 17d, then gradual rise; put skew extreme for 3d

📈IV/VIX ratio ~4.8x – elevated

⚠️Put IV 172% for 3d – high time decay but risk

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+49.3M)

Gamma flip: ~$30.00 — Approx — based on put OI concentration of 17,940 (26.2% below spot)

OI concentrations: Put OI heavy at $30; call wall $44-$60

Verdict: Pin risk at $42 (Jun12) and $34 (Jun18); dealer gamma positive

Premium Opportunities

Put credit spread

Sell 2026-07-17 $38.00/$36.00 put spread

Sell 2026-07-17 $38/$36 put spread to capture high IV premium with defined risk.

Credit: $0.70-$0.86

Max loss: $1.14

BE: $37.14

Mgmt: Exit if spot breaches $37.7 or IV drops below 80%.

Iron condor

Sell 2026-07-17 $38.00/$36.00 put wing and $41.00/$42.00 call wing

Sell 2026-07-17 $38/$36 put wing and $41/$42 call wing to profit from range-bound move.

Credit: $1.08-$1.33

Max loss: $0.67

BE: 36.67 / 42.33

Mgmt: Adjust if spot approaches either wing; close if IV collapses.

Risk Alerts

!Near-term put IV extreme – risk of IV crush

!Spot below max pain – bullish flow may test $41.5 resistance

How to Use These Reports

This theta reflects the market close on June 9, 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.