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WDC

Western Digital CorporationClose $746.23EOD only
Max Pain
$580.00
Next expiry Jun 26, 2026
Expected Move
±$42.75
5.7% from close
Price Gap
-166.23
Distance to max pain
IV Rank
100
High premium
P/C OI
1.38
Slightly put-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 18, 2026 close
End-of-day snapshot

This page reflects WDC options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 18, 2026 close
WDC Earnings Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Bullish setup; strong beat rate and bullish flow. Main risk: spot far above max pain.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 62.2% from MP; +1 VIX 16
Most important: 100% beat rate and positive net flow suggest upside, but max pain pinning is a risk.
📈100% beat rate suggests consistent upside.
⚠️Spot 62% above max pain; pinning risk.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above

Earnings Overview

Next earnings: 2026-07-29 (41 days)explicit

Expected moves:

  • 2026-06-26 (8d): ±$42.75 (5.7%)
  • 2026-07-02 (14d): ±$54.82 (7.3%)
  • 2026-07-10 (22d): ±$137.55 (18.4%)

IV Setup

Term structure: Steep contango; IV rises into earnings.

Crush estimate: 50-70% post-earnings crush expected.

Skew: Call skew elevated at $800 strike.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: N/A; 100% beat rate (5/5).

Directional bias: Bullish

Key Levels

1EM guardrails: 1w $703.48/$788.98
2Max pain pins: $460 (2026-06-18); $580 (2026-06-26); $600 (2026-07-02)

Flow Highlights

Large $800 call OI (vol/OI 4.8)

Speculative bullish bet on breakout.

Unusual $725 put trade (vol/OI 16.6)

Potential hedging or bearish bet.

Strategies

Bull Call Spread
Buy 2026-08-21 $750.00/$770.00 call spread
Debit: $8.08-$9.87
Max loss: $9.87
Max gain: $10.13
BE: $759.87
Trigger: Exit at expiry or take profit at max gain if stock reaches $770.
Best aligns with bullish bias and strong beat rate; defined risk limits downside in high IV environment.
Outperforms: Buy $750/$770 call spread to capture upside with limited risk.
Underperforms: Loss of support weakens upside continuation thesis.
Call Diagonal
Sell 2026-06-26 $765.00 call / buy 2026-07-24 $760.00 call
Debit: $45.99-$56.21
Max loss: $56.21
Max gain: Variable
BE: Path-dependent
Trigger: Monitor IV; roll if needed. Max loss limited to net debit. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.
Exploits steep contango and bullish bias; lower near-term IV funds long call.
Outperforms: Sell near-term call, buy later call to reduce cost while maintaining upside.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Long Strangle
Buy 2026-08-21 $730.00 put + buy $790.00 call
Debit: $204.62-$250.09
Max loss: $250.09
Max gain: Unlimited
BE: 479.91 / 1040.09
Trigger: Close before earnings to avoid crush; adjust strikes if needed. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
Captures IV expansion but directionally neutral; less preferred given bullish bias.
Outperforms: Buy OTM put and call to profit from large move or IV spike.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Spot far above max pain levels may attract pinning.
!Earnings 41 days away; IV could expand further.
!High call OI at $800 may act as resistance.

What to Watch

?Price action around $800 resistance.
?Delta hedging near $800.
?Put OI concentration changes below spot.
How to Use These Reports
This earnings reflects the market close on June 18, 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.