Is this lateral displacement? What are my options? (Photo)

This is a common problem with breast implants. The lateral chest has little natural support and over time the implant slide off the cheat into the armpit. A reconstruction of the lateral support is required. I use a synthetic mesh for this repair. This is successful most of the time. Some patient are best served by removing the implants and scar tissue and starting oved in 6 months with the placement of the implants in a new position.

(If the augmentation was on top of the muscle place under the muscle and if first placed under the muscle then replace on top of the muscle. )

YES and NO!
First, you did not put ANY anterior (frontal) photos of you in the standing position to evaluate how you look.
Yes, all breasts travel laterally in the laying down position.
Yes, your pockets appear to be a little more open laterally (which may be repaired by suturing the lateral portions). This is a technically challenging procedure, but not overly difficult or dangerous.
Best wishes.
Dr. Taranow