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EEM

iShares MSCI Emerging Markets ETFClose $63.64EOD only

Max Pain

$60.00

Next expiry Apr 24, 2026

Expected Move

±$0.89

1.4% from close

Price Gap

-3.64

Distance to max pain

IV Rank

100

High premium

P/C OI

1.41

Slightly put-heavy

Consensus

6.5/10

Range bias

Published snapshot: Apr 17, 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

Apr 17, 2026 close

EEM Flow Report

Analysis based on market close April 20, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 3.6% from MP; +0.5 VIX 19

Watch next session: Front-month put flow at 61.5-63 and Jul 57-62 strikes; Spot vs gamma flip level and net delta change; VIX direction and intraday premium accumulation

Flow Summary

Net premium: -$5.7M bearish

P/C volume ratio: 2.70

P/C OI ratio: 1.53

Bearish bias: concentrated institutional put buying and elevated put/call metrics dominate despite pinning gamma; risk clears if spot rallies past gamma flip or calls materially absorb puts.

Notable Prints

EEM 2026-05-15 $63.00 Put

Vol: 5,101

OI: 223

Vol/OI: 22.9x

IV: 27.8%

Notional: ~$765K

Intent: short puts (sell-to-open)

Dual read: protective buys

Read-through: near-term bearish/collector

EEM 2026-07-17 $57.00 Put

Vol: 12,466

OI: 939

Vol/OI: 13.3x

IV: 27.6%

Notional: ~$1.2M

Intent: directional put accumulation

Dual read: spread legting

Read-through: lower-for-longer bias

EEM 2026-04-24 $61.50 Put

Vol: 2,182

OI: 272

Vol/OI: 8.0x

IV: 30.1%

Notional: ~$61K

Intent: near-dated downside play

Dual read: liquidity takedown

Read-through: short-term risk hedging

EEM 2026-07-17 $62.00 Put

Vol: 6,549

OI: 993

Vol/OI: 6.6x

IV: 24.4%

Notional: ~$1.5M

Intent: sizey bearish put buy/sell

Dual read: pinning sell-side flow

Read-through: pressure into summer

EEM 2026-07-17 $53.00 Put

Vol: 4,053

OI: 935

Vol/OI: 4.3x

IV: 33.4%

Notional: ~$182K

Intent: deep-protection buying

Dual read: long-dated hedge

Read-through: tail-risk concern

Institutional Positioning

Call additions: Put-heavy blocks concentrated 57–63 (May–Jul) with rolls into longer-dated Nov 60; some call buying not dominant

Put additions: Notable OI-adds in May/Jul 57–63; short-dated defensive puts 4/24–5/15 present

GEX/DEX consistency: GEX positive and DEX buy activity align with pinning pressure, but mixed signals exist

OI clusters: Largest OI peaks near 60–63 and 53–57; gamma flip ~55 could counterbalance downside—uncertainty ~25–40% on net effect

Hedging evidence: Evidence of protective puts and likely collars; net premium flows suggest hedging demand but some roll/rebalancing visible

Max pain context: Max pain low 60s; spot ~3.6% above MP, pinning bias plausible but not certain

Signal vs Noise

~Signal: concentrated Jul put blocks with high OI at 60–63

~Noise: small-lot short-dated prints lacking OI follow-through

~Signal: GEX/DEX alignment increases pinning probability but gamma flip near 55 is a material counter-signal

Key Conclusions

⚠️Institutions likely bearish/hedging—concentrated puts and rolls point to low-60s pinning, but mixed flows and gamma flip near 55 introduce meaningful uncertainty.

🔎OI clusters (60–63, 53–57) and GEX/DEX support the put signal; ignore isolated low-OI prints when assessing trend.

How to Use These Reports

This flow reflects the market close on April 20, 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.