SMCI (SMCI) options memo

The Read

SMCI is up 1.74% today at $39.84.

Options traders lean neutral into 2026-08-14, and neutral further out.

A move through $30.03 would change how dealers hedge this stock.

Key numbers

• Spot: $39.84
• Lean: neutral
• Nearest expiry: Fri 8/21
• Implied move: 4.2%
• ATM implied volatility: 80.9%
• Max pain: $34.00
• Pin strike: $34.00
• Gamma flip: $33.54
• Dealer positioning: SHORT GAMMA
• Call wall: $34.00
• Put wall: $35.00
• Put/call open interest: 0.426