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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 22, 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 14.5% from MP; +1 VIX 17

Watch next session: 540 gamma flip; 800 call strike

Flow Summary

Net premium: +$173.0M bullish

P/C volume ratio: 1.45

P/C OI ratio: 1.33

High vol regime with pinning gamma. Bearish put flow hedges, but positive GEX supports range. Mixed bias near gamma flip.

Notable Prints

WDC 2027-01-15 $17.50 Put

Vol: 721

OI: 115

Vol/OI: 6.3x

IV: 166.4%

Notional: ~$721

Intent: Lottery

Dual read: Tail hedge

Read-through: Extreme bearish

WDC 2026-06-26 $625.00 Put

Vol: 564

OI: 165

Vol/OI: 3.4x

IV: 115.1%

Notional: ~$296K

Intent: Bearish

Read-through: Near-term weakness

WDC 2026-07-17 $900.00 Call

Vol: 389

OI: 137

Vol/OI: 2.8x

IV: 99.1%

Notional: ~$1.0M

Intent: Bullish

Dual read: Short squeeze

Read-through: Optimistic

WDC 2026-06-26 $750.00 Put

Vol: 351

OI: 139

Vol/OI: 2.5x

IV: 103.4%

Notional: ~$1.7M

Intent: Bearish

Read-through: Downside bet

WDC 2026-06-26 $645.00 Put

Vol: 306

OI: 120

Vol/OI: 2.5x

IV: 113.3%

Notional: ~$237K

Intent: Hedge

Read-through: Protection

Institutional Positioning

Call additions: Few large call buys at $900 and $800 strikes, vol/oi >2

Put additions: Aggressive put buying at multiple strikes ($405-$750) with vol/oi >2

GEX/DEX consistency: GEX+$3.9M, DEX+10.5M shares: consistent positive delta, but mixed flow due to put dominance

OI clusters: Put OI concentrated below spot (~540), likely acting as support

Hedging evidence: Heavy put buying suggests hedging or speculative bearish bets, no clear collars

Max pain context: Spot 14.5% above MP, gamma pinning may pull price lower toward MP

Signal vs Noise

~High vol/oi ratio on $17.50 put (6.3) is signal, but far OTM and low premium

~Weekly put buying across strikes ($405-$750) is signal of bearish flow

~Call activity at $900 and $800 is signal of upside speculation

~Small OI changes and low volume prints are noise

Key Conclusions

🐻Institutions are aggressively adding puts across strikes, signaling bearish sentiment despite positive GEX/DEX

📈Call buying at high strikes ($800-$900) indicates some bullish conviction on longer-dated upside

How to Use These Reports

This flow reflects the market close on June 22, 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.