We study local radiation magnetohydrodynamic instabilities in static, optically thick, vertically stratified media with constant flux mean opacity. We include the effects of vertical gradients in a horizontal background magnetic field. Assuming rapid radiative diffusion, we use the zero gas pressure limit as an entry point for investigating the coupling between the photon bubble instability and the Parker instability. Apart from factors that depend on wavenumber orientation, the Parker instability exists for wavelengths longer than a characteristic wavelength λtran, while photon bubbles exist for wavelengths shorter than λtran. The growth rate in the Parker regime is independent of the orientation of the horizontal component of the wavenumber when radiative diffusion is rapid, but the range of Parker-like wavenumbers is extended if there exists strong horizontal shear between field lines (i.e., horizontal wavenumber perpendicular to the magnetic field). Finite gas pressure introduces an additional short-wavelength limit to the Parker-like behavior, and also limits the growth rate of the photon bubble instability to a constant value at short wavelengths. We also consider the effects of differential rotation with accretion disk applications in mind. Our results may explain why photon bubbles have not yet been observed in recent stratified shearing box accretion disk simulations. Photon bubbles may physically exist in simulations with high radiation to gas pressure ratios, but higher spatial resolution will be needed to resolve the asymptotically growing unstable wavelengths.
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