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WDC

Western Digital CorporationClose $670.75EOD only

Max Pain

$670.00

Next expiry Jun 26, 2026

Expected Move

±$62.98

9.4% from close

Price Gap

-0.75

Distance to max pain

IV Rank

Low premium

P/C OI

1.37

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 23, 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 23, 2026 close

WDC Flow Report

Analysis based on market close June 24, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

4 / 10

base 5; -1 GEX/flow contradict; -0.5 spot 3.9% from MP; +0.5 VIX 19

Watch next session: $500 gamma flip; weekly $325/$410 put OI

Flow Summary

Net premium: +$81.4M bullish

P/C volume ratio: 1.39

P/C OI ratio: 1.37

Heavy put flow dominates with 1.39 P/C vol ratio despite $81M net premium, suggesting hedging/bearish bets. Spot below $500 gamma flip (22% of OI), high vol, mixed flow regime. Unusual prints: aggressive puts at $570 and $335.

Notable Prints

WDC 2026-07-17 $570.00 Put

Vol: 774

OI: 235

Vol/OI: 3.3x

IV: 101.1%

Notional: ~$3.0M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

WDC 2026-07-02 $800.00 Call

Vol: 642

OI: 243

Vol/OI: 2.6x

IV: 100.4%

Notional: ~$281K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

WDC 2026-06-26 $325.00 Put

Vol: 333

OI: 129

Vol/OI: 2.6x

IV: 258.6%

Notional: ~$2K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

WDC 2026-06-26 $410.00 Put

Vol: 544

OI: 233

Vol/OI: 2.3x

IV: 285.0%

Notional: ~$10K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

WDC 2026-07-17 $90.00 Put

Vol: 966

OI: 469

Vol/OI: 2.1x

IV: 266.4%

Notional: ~$4K

Intent: Tail risk hedge for crash

Dual read: Cheap lottery ticket

Read-through: Fear of extreme downside

Institutional Positioning

Call additions: Small call buying at 800 (7/2) and 645/690 (6/26), but minimal.

Put additions: Heavy put accumulation at 570 (7/17), 325/390/410 (6/26), 500 (8/21), 90 (7/17), 335 (7/24).

GEX/DEX consistency: GEX negative (-$478K) but DEX positive (+10.8M shares), mixed signals.

OI clusters: Put OI concentrated 22.3% below spot per gamma flip note.

Hedging evidence: Aggressive put buying across multiple expirations suggests downside hedging.

Max pain context: Spot below MP (525 vs ~550), likely to grind lower.

Signal vs Noise

~High put/call ratio (1.39 vol, 1.37 OI) is real defensive flow, not noise.

~Unusual put prints at 570 (7/17) with 3.3x vol/OI signal major downside positioning.

~Call prints at 800 (7/2) are noise (low OI, OTM lottery).

Key Conclusions

🐻Institutions loading puts across strikes and expirations, signaling bearish sentiment.

⚡GEX negative but DEX positive creates conflicting delta exposure, market may chop.

How to Use These Reports

This flow reflects the market close on June 24, 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.