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EEM

iShares MSCI Emerging Markets ETFClose $70.80EOD only

Max Pain

$66.00

Next expiry Jun 5, 2026

Expected Move

±$1.83

2.6% from close

Price Gap

-4.80

Distance to max pain

IV Rank

High premium

P/C OI

1.82

Slightly put-heavy

Consensus

5.0/10

Range bias

Published snapshot: Jun 2, 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

Jun 2, 2026 close

EEM Flow Report

Analysis based on market close April 10, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 10, 2026. A newer flow report is available for May 26, 2026.

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Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.4% from MP

Watch next session: Any repeat/heavy call buys or OI lifts at $63–$65 (would strengthen bullish pin thesis); Large put flow around $58 or $61 (would signal defensive repositioning and could shift pin)

Flow Summary

Net premium: +$2.6M bullish

P/C volume ratio: 1.16 — mildly put-heavy by volume today

P/C OI ratio: 1.36 — put-heavy positioning in OI (structural protective put bias)

Dealer / gamma picture is pinning and supportive (Total GEX +$307.9M), with concentrated call premium and GEX clusters around $63–$65 creating a higher-probability magnet. Flow is mixed intraday: premium flow shows sizable call buying at strikes above spot (notably $63–$65) while overall volume and OI ratios still reflect persistent put accumulation lower in the chain (50–58), consistent with institutions keeping downside protection.

Notable Prints

EEM 2026-05-15 $60.00 Put

Vol: 10,551

OI: 630

Vol/OI: 16.8x

IV: 26.6%

Notional: ~$1.78M

Intent: Directional/hedge (buyers of downside protection near spot for mid-May exposure)

Dual read: Bought protective puts (bearish/insurance) OR established short put spreads (neutral-to-bullish) with other legs not visible

Read-through: Meaningful protection demand 1-month+ out at ATM/near-ATM. If sustained, this caps upside and indicates institutional risk-off positioning into mid-May events.

EEM 2026-05-15 $63.00 Call

Vol: 9,106

OI: 5,707

Vol/OI: 1.6x

IV: 26.8%

Notional: ~$910.6K

Intent: Fresh directional call accumulation (bullish/speculative) or buy-to-open call spread leg

Dual read: Buyer establishes bullish exposure (calls) OR sellers opening covered call/overwriting against stock holdings

Read-through: Consistent with the net-premium call tilt and the near-term GEX concentration at $63; if OI here grows further it reinforces $63 as a short-term pin/resistance magnet that dealers will hedge into.

EEM 2026-04-24 $58.00 Put

Vol: 15,033

OI: 109

Vol/OI: 137.9x

IV: 30.6%

Notional: ~$706K

Intent: Very short-dated directional/expiration-oriented activity — likely aggressive buys into near-term downside protection or expiration-focused trades

Dual read: Large buy orders of short-dated puts (defensive) OR dealers/off-exchange structures rolling/adjusting expiries

Read-through: High-volume short-dated put activity right at weekly MP ($58) — consistent with pinning mechanics: dealers will hedge delta into this and it can create short-term downside support around $58 if sellers/issuers are net short.

EEM 2026-06-18 $61.00 Put

Vol: 2,317

OI: 876

Vol/OI: 2.6x

IV: 25.8%

Notional: ~$667K

Intent: Protective medium-dated put buying (insurance) or part of collars

Dual read: Direct protective put buys (bearish/insurance) OR spread/roll activity into longer-dated downside protection

Read-through: Adds to evidence institutions keep downside protection around the low-60s; with sizable GEX positive, these puts are likely being delta-hedged by dealers, reinforcing pin behavior in the $60–$62 band.

Institutional Positioning

Call additions: $63.00-$65.00 calls (notable premium flow and large existing OI at $63/$64/$65) — fresh mid-May call buying visible

Put additions: Protection clustered at $50.00-$58.00 (top put OI strikes $50, $55, $57, $58) and notable buys at $60.00 (5/15) and $61.00 (6/18)

GEX/DEX consistency: Yes — large positive Total GEX (+$307.9M) and DEX (+155.7M shares) align with call-side concentration and pinning behavior around $61–$64

OI clusters: Major call OI concentration at $65.00 (154,638), $64.00 (125,737), $63.00 (117,125) creating a call wall/magnet in the low-mid 60s; put clusters at $50.00 (151,759), $55.00 (132,543), $57.00 (89,851) create a structural put floor below spot

Hedging evidence: Clear protective put activity (5/15, 6/18) and short-dated put buys around $58 imply institutional hedging; limited explicit collar prints visible but put-call spreads and protective puts are present

Max pain context: Max pain pinned at $58 across near expirations while spot sits above at $60.56 — dealers face incentive to hedge toward $58, but current GEX concentrations at $61–$64 increase probability spot gravitates to low-60s rather than down to $58 immediately.

Signal vs Noise

~EEM 4/24 $58 Put (Vol 15,033 vs OI 109): likely short-dated expiration plays or dealer flows tied to weekly pin mechanics — high vol/oi in a 2-week expiry can be expiration-driven rather than a forward directional read.

~Long-dated OTM tail puts (e.g., $42 Put 5/15 with IV 53.5%): tail-risk insurance buys — important for skew but low probability to move near-term price.

~Large static OI at $63/$64/$65: structural hedging by dealers and passive risk positions — single prints near those strikes are less informative absent step-up in notional OI.

~Some mid-chain prints could be spread legs (e.g., 60P 5/15 could be part of a put spread or collar) — treat isolated put prints as potential hedges until corroborated with offsetting leg flow.

Key Conclusions

📌Pinning regime with dealer hedging centered low-mid 60s: GEX concentrations +$73.3M at $63 and +$47.8M at $64 make $63–$64 the primary magnet zone despite MP at $58.

🐂Net premium is modestly bullish (+$2.6M) with concentrated call buying at $63–$65 — watch for OI build there to confirm bullish tilt.

🛡️Significant put protection remains in the book (OI-heavy at $50, $55, $57, $58 and fresh buys at $60/$61) — institutions retain downside insurance despite call accumulation.

🧭Key intraday/support level: $58.00 (max pain & heavy short-dated put activity). Secondary support cluster: $61.00 and $62.00 where dealer GEX shows concentrated hedging.

🚨If call OI at $63–$65 continues to rise and net premium stays positive, expect spot to be attracted to low-60s; conversely, renewed heavy put buying at/above spot would flip the near-term bias.

How to Use These Reports

This flow reflects the market close on April 10, 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.

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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.