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EEM

iShares MSCI Emerging Markets ETFClose $64.26EOD only
Max Pain
$64.50
Next expiry May 22, 2026
Expected Move
±$1.66
2.6% from close
Price Gap
+0.24
Distance to max pain
IV Rank
35
Middle-high premium
P/C OI
1.73
Slightly put-heavy
Consensus
5.0/10
Range bias
Published snapshot: May 19, 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 19, 2026 close
EEM Theta Report
Analysis based on market close May 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness5 / 10
Sizing: Moderate
Primary: Short call spreads above $67.5 or short puts below $62
Invalidation: Spot breaks below $62 support or above $68 resistance with volume
Confidence:
5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 5.0% from MP; +0.5 VIX 18; override: Base 5; -1 bearish flow, +1 gamma pinning, -0.5 spot above MP, +0.5 VIX 18

IV Environment

IV Regime
Normal
IV vs VIX
IV avg ~36% vs VIX 18% — elevated, skew extreme at 0 DTE
Favorable?
No

Term structure: Front-end backwardation (0 DTE put IV 128%) due to expiry pin; rest normal contango

⚠️0 DTE put IV 128% signals extreme tail risk; avoid naked short premium

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+493.7M)

Gamma flip: ~$55.00 — Approx — based on put OI concentration of 172,185 (15.5% below spot)

OI concentrations: Put floor $50-$61 (172K OI), Call wall $70; Max pain $62 for 5/15

Verdict: High pin risk near $62; gamma flip at $55. Avoid holding short options through expiry

Premium Opportunities

#1
Iron condor
Sell 2026-07-17 $61.50/$58.50 put wing and $70.50/$73.00 call wing
Sells put and call wings exploiting extreme skew and high IV.
Credit: $0.92-$1.13
Max loss: $1.87
BE: 60.37 / 71.63
Mgmt: Close at 50% max gain or adjust if S approaches wings. Liquidity warning: Liquidity constraints: short_put: Wide spread (55%).; long_put: Wide spread (122%).; short_call: Wide spread (105%).; long_call: Wide spread (77%).
#2
Call credit spread
Sell 2026-06-12 $73.00/$74.00 call spread
Sells OTM call spread to capitalize on resistance and high IV.
Debit: $0.01-$0.01
Max loss: $1.00
BE: $73.00
Mgmt: Close early if S moves below $68. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.; long_call: Open interest below 25.

Risk Alerts

!Expiry-day pin risk on 5/15
!Extreme put skew 0 DTE
!Bearish flow (P/C ratio 1.5)
How to Use These Reports
This theta reflects the market close on May 15, 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.