thetaOwl
HomeOptionsEEMReports

EEM

iShares MSCI Emerging Markets ETFClose $67.98EOD only
Max Pain
$68.00
Next expiry Sep 28, 2026
Expected Move
±$0.82
1.2% from close
Price Gap
+0.02
Distance to max pain
IV Rank
12
Low premium
P/C OI
2.05
Slightly put-heavy
Consensus
4.0/10
Bearish tilt
Published snapshot: Sep 25, 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
Sep 25, 2026 close
EEM Theta Report
Analysis based on market close May 14, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 14, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Premium selling
Invalidation: Spot breaks below gamma flip (55) or above resistance (70)
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 9.6% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
IV 35% vs VIX 17, elevated premium potential
Favorable?
Yes

Term structure: Short-term contango; extreme put skew in 1DTE (put IV 115%)

📈Dealer long gamma $590M supports pinning and low realized vol
⚠️1DTE put IV 115% signals tail premium but pin risk elevated

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+590.2M)

Gamma flip: ~$55.00 — Approx — based on put OI concentration of 172,186 (18.4% below spot)

OI concentrations: Max pain $62/64/66; put OI 149% of calls; put floor $50-$61

Verdict: Pin likely near $64 (1W max pain) with dealer gamma but tail risk if spot falls

Premium Opportunities

#1
Put credit spread
Sell 2026-05-22 $65.00/$63.00 put spread
Sell 65/63 put spread for ~$0.08 credit, benefiting from elevated implied volatility and put skew.
Credit: $0.07-$0.08
Max loss: $1.92
BE: $64.92
Mgmt: Monitor spot near $65 invalidation level; close if breached or near expiry for max gain. Liquidity warning: Liquidity constraints: short_put: Wide spread (67%).; long_put: Wide spread (138%).

Risk Alerts

!Spot 9.6% above max pain, potential mean reversion
!Extreme 1DTE put skew adds event risk
!Gamma flip at $55 if spot drops sharply
How to Use These Reports
This theta reflects the market close on May 14, 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.