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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 Flow Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 62.2% from MP; +1 VIX 16

Watch next session: Monitor high vol/oi call prints near expiration

Flow Summary

Net premium: +$284.9M bullish

P/C volume ratio: 0.74

P/C OI ratio: 1.38

WDC sees aggressive OTM call buying ahead of expiration, net premium +$284M. Volume ratio 0.74 favors calls despite put-heavy OI. Regime bullish with gamma pinning. Spot above max pain. Continued bullish flow if calls persist.

Notable Prints

WDC 2026-06-18 $725.00 Put

Vol: 1,940

OI: 117

Vol/OI: 16.6x

IV: 44.1%

Notional: ~$19K

Intent: Hedging or bearish speculation

Dual read: Possible put spread

Read-through: Bearish protection

WDC 2026-06-18 $760.00 Call

Vol: 2,291

OI: 286

Vol/OI: 8.0x

IV: 27.1%

Notional: ~$2K

Intent: Bullish directional bet

Dual read: Could be call spread

Read-through: Bullish on upside to $760

WDC 2026-06-18 $800.00 Call

Vol: 9,174

OI: 1,916

Vol/OI: 4.8x

IV: 46.1%

Notional: ~$9K

Intent: Speculative lottery

Dual read: Maybe covered call writing

Read-through: Speculative bullish on large move

WDC 2026-06-18 $770.00 Call

Vol: 1,673

OI: 356

Vol/OI: 4.7x

IV: 22.3%

Notional: ~$2K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

WDC 2026-06-18 $790.00 Call

Vol: 1,011

OI: 221

Vol/OI: 4.6x

IV: 38.3%

Notional: ~$1K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call buying at 760-820 strikes, notably 800C with 9k vol and 1.9k OI, bullish flow.

Put additions: Minor put activity at 725P (1.9k vol), but overall put OI dominance suggests existing hedging.

GEX/DEX consistency: GEX +10M, DEX +14.6M consistent with bullish flow and pinning gamma.

OI clusters: Largest OI near current price? Not specified, but call OI building at 800, put OI scattered.

Hedging evidence: Puts at 700-730 suggest downside protection, but not heavy.

Max pain context: Spot above MP, gamma pinning; expected pin near current levels.

Signal vs Noise

~High vol/oi on cheap OTM calls likely speculative noise; 800C volume significant signal.

~725P new put with 16x vol/oi may be hedging noise.

Key Conclusions

📈Institutions are aggressively adding calls at OTM strikes, signaling bullish conviction with modest hedging.

⚠️Put OI ratio >1 indicates lingering bearish positioning; monitor for unwinding.

How to Use These Reports

This flow 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.