Home Options EEMReports

EEM

iShares MSCI Emerging Markets ETFClose $66.03EOD only

Max Pain

$64.50

Next expiry May 22, 2026

Expected Move

±$0.91

1.4% from close

Price Gap

-1.53

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.74

Slightly put-heavy

Consensus

6.0/10

Bearish tilt

Published snapshot: May 21, 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 21, 2026 close

EEM Flow Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 VIX 17

Watch next session: Monitor put activity at $65 and $70 strikes.; Watch for gamma flip test.

Flow Summary

Net premium: -$8.3M bearish

P/C volume ratio: 1.24

P/C OI ratio: 1.76

Bearish put-heavy flow with unusual put volumes at multiple strikes despite positive gamma. Net premium negative, put/call ratios elevated. Regime shows bearish flow but pinning gamma. Downside hedging suggests vulnerability below $55 gamma flip.

Notable Prints

EEM 2026-08-21 $61.00 Put

Vol: 8,045

OI: 284

Vol/OI: 28.3x

IV: 34.3%

Notional: ~$1.4M

Intent: Bearish hedge

Dual read: Tail risk vs speculative

Read-through: New bearish position

EEM 2026-06-18 $70.00 Put

Vol: 22,572

OI: 915

Vol/OI: 24.7x

IV: 35.3%

Notional: ~$11.6M

Intent: Bearish directional

Dual read: Hedge or outright

Read-through: Large put buying

EEM 2026-05-29 $65.00 Put

Vol: 2,745

OI: 178

Vol/OI: 15.4x

IV: 35.6%

Notional: ~$203K

Intent: Speculative put

Dual read: Gamma or directional

Read-through: Week expiration put

EEM 2026-06-12 $65.00 Put

Vol: 1,242

OI: 223

Vol/OI: 5.6x

IV: 33.4%

Notional: ~$143K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

EEM 2026-06-05 $69.00 Call

Vol: 3,840

OI: 1,015

Vol/OI: 3.8x

IV: 31.5%

Notional: ~$131K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Modest call buying at $69 Jun5 and $66 May29; not significant.

Put additions: Heavy put accumulation: Aug $61, Jun $70, May $65, May $64, etc. Net premium negative -$8.3M.

GEX/DEX consistency: GEX +$86.7M and DEX +165.8M shares consistent with dealer long gamma from put sales; pinning supportive.

OI clusters: Put OI cluster at $55 (gamma flip) with 172K OI 16.5% below spot; spot above MP.

Hedging evidence: Large put prints likely hedging or directional bearish; multiple expirations suggest rolling hedge.

Max pain context: Spot above MP; GEX positive implies pinning toward lower levels; MP likely near $55-60.

Signal vs Noise

~Signal: Sustained put buying across strikes and expirations indicates institutional bearish positioning.

~Signal: GEX/DEX alignment despite bearish flow suggests dealer hedging is real pinning mechanism.

~Noise: Isolated small OTM call buys are insignificant given heavy put skew.

~Noise: High IV in May $64 put (92%) likely temporary panic, not trend.

Key Conclusions

🐻Institutions are aggressively accumulating puts, signaling bearish outlook on EEM.

📌GEX positive at $86.7M supports pinning, but spot above MP suggests downside drift.

🛡️Hedging via far-dated puts (Aug, Dec, Mar) suggests long-term portfolio protection.

How to Use These Reports

This flow reflects the market close on May 22, 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.