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WDC

Western Digital CorporationClose $643.83EOD only

Max Pain

$670.00

Next expiry Jun 26, 2026

Expected Move

±$53.27

8.3% from close

Price Gap

+26.17

Distance to max pain

IV Rank

Low premium

P/C OI

1.37

Slightly put-heavy

Consensus

4.0/10

Bearish tilt

Published snapshot: Jun 24, 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 24, 2026 close

WDC Flow Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 19

Watch next session: Put OI changes; Spot gamma flip level

Flow Summary

Net premium: +$117.7M bullish

P/C volume ratio: 1.27

P/C OI ratio: 1.38

Heavy put volume (P/C 1.27 vol, 1.38 OI) dominates, suggesting bearish sentiment. Positive net premium from high-priced calls, but GEX positive may pin stock. Unusual prints cluster in deep OTM puts. Regime mixed vol and gamma pinning.

Notable Prints

WDC 2026-06-26 $410.00 Put

Vol: 1,027

OI: 261

Vol/OI: 3.9x

IV: 210.9%

Notional: ~$3K

Intent: Bearish speculation

Read-through: Downside risk

WDC 2026-06-26 $440.00 Put

Vol: 614

OI: 161

Vol/OI: 3.8x

IV: 218.4%

Notional: ~$2K

Intent: Bearish speculation

Read-through: Downside risk

WDC 2026-07-02 $600.00 Put

Vol: 660

OI: 208

Vol/OI: 3.2x

IV: 102.2%

Notional: ~$793K

Intent: Hedging

Read-through: Protection

WDC 2026-06-26 $765.00 Call

Vol: 377

OI: 116

Vol/OI: 3.2x

IV: 84.9%

Notional: ~$26K

Intent: Bullish

Dual read: Possible call overwrite

Read-through: Rally above $765

WDC 2026-06-26 $725.00 Call

Vol: 618

OI: 200

Vol/OI: 3.1x

IV: 78.3%

Notional: ~$132K

Intent: Bullish

Read-through: Move above $725

Institutional Positioning

Call additions: Modest call buying at 660, 700, 725, 765 strikes; net call premium positive.

Put additions: Significant put additions at 410, 440, 600, 650, 335 strikes; high vol/oi ratios indicate new downside hedging.

GEX/DEX consistency: GEX +1.4M, DEX +10.9M shares — consistent with positive gamma/delta, but put flow suggests hedging.

OI clusters: Large OI at 500 gamma flip; put OI concentrated 26% below spot around 410-440 strikes.

Hedging evidence: Puts at out-of-money strikes suggest downside hedging; collars likely.

Max pain context: Spot above max pain; gamma pinning at 500 area.

Signal vs Noise

~High put volume at 410 and 440 strikes reflects real downside hedging (signal).

~Call buying at 660 and 725 strikes is speculative bullish bet (signal).

~Low OI puts at 335 and calls at 960 are noise from small retail positioning.

Key Conclusions

🛡️Institutions adding puts aggressively for downside protection despite positive GEX.

⚖️Gamma flip at 500 is key; spot above MP but pinning action expected.

📊Net premium positive but put-heavy flow signals caution.

How to Use These Reports

This flow reflects the market close on June 25, 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.