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Micron Revenue 4x, Gross Margin 84.9% Beats Nvidia: After-Hours +13%, AI Memory Super-Cycle Confirmed

Micron's FY26Q3 revenue hit $41.46B (+346% YoY), adjusted gross margin reached 84.9% (beating Nvidia's 75% and Meta's 81.9%), and adjusted EPS came in at $25.11 (12x YoY). Q4 guidance points to $50B in revenue with EPS midpoint $31. Sixteen long-term agreements lock in $22B in customer cash and roughly $1,000B in RPO. The stock jumped as much as 16% after hours, with market cap holding above $1 trillion. This isn't a decent earnings report — it's Micron's official promotion from AI supporting cast to AI lead actor.

2026.06.25 11 min

Options Trading

Iran-US Deal in 24 Hours: 3 Counterintuitive Signals for Options Traders

The U.S.–Iran deal in Switzerland on June 22 sent oil down 3%, the Shanghai Composite up 1.78%, and gold up against the grain. Three markets moved in three directions in 24 hours. This is not one event hitting one market — it is one event hitting three markets with three different pricing engines. Three counterintuitive signals for options traders: geopolitics is a timeline not a headline, cross-market linkage broke the straddle formula, and quiet VIX is when you should be trading the IV structure.

2026.06.23 9 min

Options Trading

Warsh's First FOMC: 3 Put-Selling Rules to Reset Tonight

Warsh's June 18 FOMC cut the statement 60%, removed forward guidance, and printed a hawkish dot plot. This piece translates three policy facts into three hard rules every Sell Put seller must reset tonight: strike buffer -20%, IV tolerance 25, mandatory 50% close-out before FOMC.

2026.06.21 7 min