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WDC

Western Digital CorporationClose $732.62EOD only
Max Pain
$640.00
Next expiry Jun 26, 2026
Expected Move
±$73.67
10.1% from close
Price Gap
-92.62
Distance to max pain
IV Rank
20
Low premium
P/C OI
1.33
Slightly put-heavy
Consensus
6.0/10
Bearish tilt
Published snapshot: Jun 22, 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 22, 2026 close
WDC Flow Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Flow Verdict

BiasMixed
Confirmation: Sustained put dominance with call activity at high strikes
Invalidation: Spot breaks above $725 or below $500
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.1% from MP; +0.5 VIX 19

Watch next session: $500; $725

Flow Summary

Net premium: +$98.2M bullish

P/C volume ratio: 1.43

P/C OI ratio: 1.37

Heavy put buying elevates put/call ratios despite positive net premium, indicating hedged bears. Dealers long delta (+10.6M) and positive gamma ($1.1M) pin spot near $670. High vols and spy/qqq weakness add pressure but mixed flow limits directional conviction. Watch key levels.

Notable Prints

#1
WDC 2026-07-17 $90.00 Put
Vol: 1,501
OI: 181
Vol/OI: 8.3x
IV: 333.3%
Notional: ~$26K
Intent: Bearish tail hedge

Read-through: Extreme bearish speculation

#2
WDC 2026-06-26 $700.00 Call
Vol: 404
OI: 165
Vol/OI: 2.5x
IV: 115.7%
Notional: ~$776K
Intent: Bullish bet
Dual read: Covered call possible

Read-through: Upside expectation

#3
WDC 2026-07-17 $95.00 Put
Vol: 2,048
OI: 906
Vol/OI: 2.3x
IV: 341.4%
Notional: ~$35K
Intent: Bearish hedge

Read-through: Tail risk protection

#4
WDC 2026-06-26 $580.00 Put
Vol: 226
OI: 100
Vol/OI: 2.3x
IV: 121.2%
Notional: ~$124K
Intent: Protective put
Dual read: Bearish directional

Read-through: Moderate downside

#5
WDC 2026-07-24 $335.00 Put
Vol: 508
OI: 251
Vol/OI: 2.0x
IV: 134.6%
Notional: ~$138K
Intent: Long-term bearish

Read-through: Extended downside view

Institutional Positioning

Call additions: Aggressive OTM calls at $700/$725 (6/26) but low OI

Put additions: Heavy put buying at $90, $95, $580, $335, $430

GEX/DEX consistency: GEX +$1.1M bullish, DEX +10.6M bullish, consistent

OI clusters: Put OI concentration near $500 gamma flip and lower strikes

Hedging evidence: Puts at key strikes suggest hedging or bearish bets

Max pain context: Spot at MP, pinning likely

Signal vs Noise

~Positive GEX/DEX and net premium are signal
~Low-volume far OTM calls are noise

Key Conclusions

🛡️Institutions hedging with puts while maintaining bullish GEX/DEX
📌Max pain pinning near $500 likely
How to Use These Reports
This flow reflects the market close on June 23, 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.