STX (STX) options memo

The Read

STX is down 8.53% today at $747.30.

Options traders lean neutral into 2026-07-31, and neutral further out.

A move through $849.14 would change how dealers hedge this stock.

Key numbers

• Spot: $747.30
• Lean: neutral
• Nearest expiry: Fri 8/21
• Implied move: 4.4%
• ATM implied volatility: 84.3%
• Max pain: $860.00
• Pin strike: $850.00
• Gamma flip: $725.44
• Dealer positioning: SHORT GAMMA
• Call wall: $850.00
• Put wall: $900.00
• Put/call open interest: 0.948