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EEM

iShares MSCI Emerging Markets ETFClose $64.26EOD only

Max Pain

$64.50

Next expiry May 22, 2026

Expected Move

±$1.66

2.6% from close

Price Gap

+0.24

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.73

Slightly put-heavy

Consensus

5.0/10

Range bias

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects EEM options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

EEM Directional Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Outlook

Slightly bullish base 6.5 but bearish flow creates conflict. Range-bound near $64 pin.

Confidence:

6.5 / 10

Base 5 +1 GEX positive +1 spot near MP +0.5 VIX 18 -1 GEX/flow contradict =6.5

Supports: Gamma pinning, low vol, spot at MP
Conflicts: Bearish flow contradicts GEX

📌Max pain $64, gamma pinning

🐻Bearish flow dominance

📉VIX 18, low vol

Regime Classification

Vol Regime

Normal

Normal vol, VIX 18.

Gamma Regime

Pinning

Pinning, +$5M GEX, flip at $55.

Flow Regime

Bearish

Bearish net premium, put-dominated.

Spot vs Max Pain

Spot at MP $64, <0.5% away.

Thesis duration: Multi-week — Max pain and gamma support range through 2 weeks.

Price Range Forecast

Next 2 days

$62.61$65.92

Near MP $64, gamma support

Next 1 week

$61.72$66.81

Range $61.72-$66.81, conflicting

Next 2 weeks

$61.09$67.43

Bearish flow, resistance $67.43

Key Levels

Max pain pins: $64 (2026-05-22); $66 (2026-05-29); $65 (2026-06-05)

EM guardrails: 2d $62.61/$65.92; 1w $61.72/$66.81

Support: $61.09 · $61.00 · $60.00

Resistance: $64.50 · $65.00 · $67.43

Gamma flip: ~$55.00 — Approx — based on put OI concentration of 172,221 (14.4% below spot)

Structural: Max pain $64 (22-May), $66 (29-May), $65 (5-Jun). Support $61.09/$61/$60. Resistance $64.5/$65/$67.43. Gamma flip $55.

Dealer Positioning (GEX/DEX)

GEX: $+5.0M

DEX: +157.6M shares

Gamma flip: ~$55 (Approx — based on put OI concentration of 172,221 (14.4% below spot))

NTM gamma: GEX +$5.0M, gamma flip ~$55, DEX +157.6M shares.

IV Analysis

IV vs VIX: IV normal vs VIX 18.

Term structure: Flat term, no event kinks.

Skew: Put skew elevated; consider call spreads for cheap upside.

Flow Analysis

Net premium: Net -$5.3M, P/C vol 1.64, OI 1.73, bearish dominance.

Directional prints:

Unusual: 30.1 call 64 ITM 2026-07-17 — Vol/OI 20.6, aggressive call buying, likely opening, bullish intent. 44.8 put 40 OTM 2027-03-31 — Vol/OI 6.3, elevated put activity, bearish skew, long puts. 31.6 call 67 OTM 2026-12-18 — Vol 5001 vs OI 2015, large call volume, speculative bullish.

Risks & Catalysts

!Break below gamma flip $55

!Bearish flow acceleration

!Vol spike from macro

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Put credit spread	Moderate	Sell 2026-06-18 $61.00/$60.00 put spread Why now: Range-bound near $64, collect premium from slight upside lean.	Bearish flow acceleration could push below short strike.
Iron condor	Moderate	Sell 2026-06-18 $61.00/$59.00 put wing and $64.50/$66.00 call wing Why now: EWM pinned at $64, bearish flow and slight bullish base create range.	Breakout above 68 or below 60 causes loss.

Top Plays

Put Credit Spread

Sell 2026-06-18 $61.00/$60.00 put spread

Sell put spread to profit from stability or slight upside.

Why this play: Range-bound near $64, slight bullish base, collect premium with defined risk.

Credit: $0.23-$0.28

Max loss: $0.72

BE: $60.72

Mgmt: Close at 50% max gain or if EEM breaks $61.09.

Traders expecting minimal downside below $61.

Iron Condor

Sell 2026-06-18 $61.00/$59.00 put wing and $64.50/$66.00 call wing

Sell call and put wings around $64 pin.

Why this play: Bearish flow and pinned at $64 create range, iron condor captures theta.

Credit: $0.97-$1.19

Max loss: $0.81

BE: 59.81 / 65.69

Mgmt: Manage wings if breached, close near expiration.

Traders expecting EEM to stay between $61 and $64.50.

Watchlist Triggers

Entry Triggers

IFEEM holds above $61.09 and below $64.5 → Sell 2026-06-18 $61.00/$60.00 put credit spread

IFEEM remains between $61.09 and $64.5 for 2 days → Sell 2026-06-18 $61.00/$59.00 put wing and $64.50/$66.00 call wing (iron condor)

Exit Triggers

EXITEEM breaks below $61.09 → Close short put positions

Tactical Summary

Range-bound near $64. Slight bullish base but bearish flow. Favor selling premium with defined risk. Key support $61.09, resistance $64.5. Put credit spread for stability, iron condor for range capture. Manage if $61.09 broken.

How to Use These Reports

This directional reflects the market close on May 19, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.