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EEM

iShares MSCI Emerging Markets ETFClose $65.88EOD only

Max Pain

$65.00

Next expiry May 29, 2026

Expected Move

±$2.38

3.6% from close

Price Gap

-0.88

Distance to max pain

IV Rank

High premium

P/C OI

1.76

Slightly put-heavy

Consensus

5.0/10

Bearish tilt

Published snapshot: May 22, 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 22, 2026 close

EEM Flow Report

Analysis based on market close May 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.6% from MP; +1 VIX 17

Watch next session: Put volume ratio; Spot action vs $55

Flow Summary

Net premium: +$32.4M bullish

P/C volume ratio: 1.11

P/C OI ratio: 1.78

Heavy put buying across near-term and long-dated options. Spot below $55 gamma pivot. Positive GEX from dealer hedging but dominant put flow confirms bearish sentiment.

Notable Prints

EEM 2026-05-29 $67.00 Put

Vol: 10,389

OI: 159

Vol/OI: 65.3x

IV: 37.7%

Notional: ~$447K

Intent: Bearish speculation

Dual read: Hedging vs directional

Read-through: Short-term bearish

EEM 2026-06-18 $68.00 Put

Vol: 5,667

OI: 150

Vol/OI: 37.8x

IV: 32.5%

Notional: ~$1.2M

Intent: Downside protection

Dual read: Hedge vs bet

Read-through: Expect decline by June

EEM 2026-06-05 $60.00 Put

Vol: 15,000

OI: 706

Vol/OI: 21.2x

IV: 52.7%

Notional: ~$195K

Intent: Cheap tail hedge

Dual read: Insurance vs lottery

Read-through: Tail risk protection

EEM 2026-08-21 $70.00 Call

Vol: 418

OI: 201

Vol/OI: 2.1x

IV: 32.1%

Notional: ~$136K

Intent: Bullish opening

Read-through:

EEM 2026-12-31 $41.00 Put

Vol: 988

OI: 594

Vol/OI: 1.7x

IV: 51.3%

Notional: ~$39K

Intent: Long-term protection

Read-through:

Institutional Positioning

Call additions: Minimal; only low vol 70c print, likely noise

Put additions: Aggressive; notable 67p (5/29), 68p (6/18), 60p (6/5) with high vol/oi; also tail puts at 41 and 40

GEX/DEX consistency: Mixed; positive GEX/DEX implies bullish delta but heavy puts suggest hedging

OI clusters: Put OI concentrated ~19.6% below spot (approx 42 strike area)

Hedging evidence: Strong; large near-term put purchases and deep OTM puts indicate downside protection

Max pain context: Spot above MP (~3.6%); pinning likely with positive GEX

Signal vs Noise

~Signal: High vol/oi put flow (67p,68p,60p) shows institutional hedging

~Signal: Positive GEX and DEX consistent with delta accumulation

~Signal: Regime gamma pinning suggests spot may drift to max pain

~Noise: Low volume call (70c 8/21) and low vol tail puts (41p,40p) are not significant

Key Conclusions

🛡️Institutions heavily buying puts for near-term and deep down protection; net premium positive despite put volume dominance, possibly delta hedging underlying longs.

📌Gamma pinning regime with spot above MP suggests pull towards ~42 area; positive GEX supports pinning.

⚖️Put/Call OI ratio at 1.78 shows bearish skew in open interest, but net premium positive and consistent positive delta from GEX/DEX imply offsetting.

How to Use These Reports

This flow reflects the market close on May 26, 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.