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SMCI

Super Micro Computer, Inc.Close $40.64EOD only
Max Pain
$41.50
Next expiry Jun 12, 2026
Expected Move
±$3.03
7.5% from close
Price Gap
+0.86
Distance to max pain
IV Rank
49
Middle-high premium
P/C OI
0.80
Slightly call-heavy
Consensus
6.0/10
Consensus signal
Published snapshot: Jun 9, 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 9, 2026 close
SMCI Theta Report
Analysis based on market close June 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness4 / 10
Sizing: Conservative
Primary: Bear call credit spreads
Invalidation: Spot closes above $34.55 resistance or below $24.00 gamma flip
Confidence:
4 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 27.7% from MP

IV Environment

IV Regime
High
IV vs VIX
Avg IV 114% vs VIX 22.2 — extreme premium
Favorable?
Yes

Term structure: Backwardation: near-term IV > long-term, event risk decay expected

⚠️Dealer long gamma (+$6.5M) supports pinning
📈IV rank extreme; selling premium attractive but risky

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+6.5M)

Gamma flip: ~$24.00 — Approx — based on put OI concentration of 16,083 (18.0% below spot)

OI concentrations: Call OI wall $35-$40; put floor $15-$24; max pain pins $40, $34, $36

Verdict: Moderate pin risk: spot below max pain, put floor below support, call wall above resistance. Gamma flip at $24.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-02 $24.00/$23.00 put spread
Sell $24/$23 put spread to capture elevated premium with defined risk. High premium and low delta near support.
Credit: $0.25-$0.31
Max loss: $0.69
BE: $23.69
Mgmt: Close at 50% max gain or if spot breaks below $24 support. Liquidity warning: Liquidity constraints: long_put: Wide spread (60%).

Risk Alerts

!Gap risk due to high IV and negative market
!Spot 27.7% below max pain — potential reversion
!Dealer long gamma may exacerbate moves
How to Use These Reports
This theta reflects the market close on June 10, 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.