{"slug":"mu-june-2026-deep-dive","qid":"options_straddle","label":"Month-end price of movement: the last at-the-money straddle of June","post_title":"MU: The Biggest Tape of June 2026","post_url":"/blog/mu-june-2026-deep-dive#q-options_straddle","columns":["nearest_expiry","calendar_days_to_expiry","spot_close","atm_strike","straddle_usd","straddle_pct_of_spot","two_sided_strikes"],"rows":[{"nearest_expiry":"2026-07-02","calendar_days_to_expiry":2,"spot_close":1151.01,"atm_strike":1150,"straddle_usd":69.95,"straddle_pct_of_spot":6.08,"two_sided_strikes":135}],"shape":"scalar","sql":"WITH (\n    SELECT argMaxIf(toFloat64(close), window_start, (toHour(window_start) * 60 + toMinute(window_start)) BETWEEN 810 AND 1199)\n    FROM global_markets.delayed_stocks_minute_aggs\n    WHERE ticker = 'MU' AND window_start >= toDateTime('2026-06-30 00:00:00') AND window_start < toDateTime('2026-07-01 00:00:00')\n) AS spot\nSELECT\n    toString(any(expiry)) AS nearest_expiry,\n    dateDiff('day', toDate('2026-06-30'), any(expiry)) AS calendar_days_to_expiry,\n    round(spot, 2) AS spot_close,\n    argMin(strike_usd, (dist, strike_usd)) AS atm_strike,\n    round(argMin(call_last + put_last, (dist, strike_usd)), 2) AS straddle_usd,\n    round(argMin(call_last + put_last, (dist, strike_usd)) / spot * 100, 2) AS straddle_pct_of_spot,\n    count() AS two_sided_strikes\nFROM (\n    SELECT expiry, strike_usd, abs(strike_usd - spot) AS dist,\n        anyIf(last_px, opt_type = 'C') AS call_last,\n        anyIf(last_px, opt_type = 'P') AS put_last\n    FROM (\n        SELECT\n            toDateOrNull(concat('20', substring(ticker, 5, 2), '-', substring(ticker, 7, 2), '-', substring(ticker, 9, 2))) AS expiry,\n            substring(ticker, 11, 1) AS opt_type,\n            toFloat64(toUInt32OrZero(substring(ticker, 12, 8))) / 1000 AS strike_usd,\n            argMax(toFloat64(price), (sip_timestamp, toFloat64(price))) AS last_px\n        FROM global_markets.options_trades\n        WHERE startsWith(ticker, 'O:MU') AND length(ticker) = 19\n          AND sip_timestamp >= toDateTime64('2026-06-30 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)\n        GROUP BY expiry, opt_type, strike_usd\n    )\n    WHERE expiry > toDate('2026-06-30')\n    GROUP BY expiry, strike_usd\n    HAVING countIf(opt_type = 'C') > 0 AND countIf(opt_type = 'P') > 0\n)\nWHERE expiry = (\n    SELECT min(toDateOrNull(concat('20', substring(ticker, 5, 2), '-', substring(ticker, 7, 2), '-', substring(ticker, 9, 2))))\n    FROM global_markets.options_trades\n    WHERE startsWith(ticker, 'O:MU') AND length(ticker) = 19\n      AND sip_timestamp >= toDateTime64('2026-06-30 00:00:00', 9) AND sip_timestamp < toDateTime64('2026-07-01 00:00:00', 9)\n      AND toDateOrNull(concat('20', substring(ticker, 5, 2), '-', substring(ticker, 7, 2), '-', substring(ticker, 9, 2))) > toDate('2026-06-30')\n)","computed_at":"2026-07-13T06:26:50.836285+00:00","elapsed":0.005901472}