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EEM

iShares MSCI Emerging Markets ETFClose $65.70EOD only
Max Pain
$65.50
Next expiry Jul 10, 2026
Expected Move
±$2.84
4.3% from close
Price Gap
-0.20
Distance to max pain
IV Rank
20
Low premium
P/C OI
1.99
Slightly put-heavy
Consensus
4.0/10
Bearish tilt
Published snapshot: Jul 2, 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
Jul 2, 2026 close
EEM Theta Report
Analysis based on market close May 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 20, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness5 / 10
Sizing: Conservative
Primary: Iron condor
Invalidation: Break below $64 or above $70
Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.5% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Elevated (37.8% vs VIX 17.4%)
Favorable?
Yes

Term structure: Steep contango: front-week 53.5% ATM, drops to ~30% by 2nd week

📈IV elevated: sell premium
📊Contango steep: front-week decay high

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+58.2M)

Gamma flip: ~$55.00 — Approx — based on put OI concentration of 172,222 (16.0% below spot)

OI concentrations: Put OI heavy at $55 (172k, 16% below spot); call wall $70; put floor $47-$61

Verdict: Max pain $64; spot above but pinning probable. Bearish flow risk.

Premium Opportunities

#1
Iron condor
Sell 2026-06-18 $62.50/$47.50 put wing and $69.00/$74.00 call wing
Sell put and call wings for credit, profit if EEM stays between $62.50 and $69.00 at June expiry.
Credit: $1.53-$1.86
Max loss: $13.14
BE: 60.64 / 70.86
Mgmt: Monitor near $64 max pain; adjust if trend breaks. Liquidity warning: Liquidity constraints: short_put: Wide spread (66%).; long_put: Open interest below 25.; long_call: Wide spread (155%).

Risk Alerts

!Bearish put/call volume ratio 2.25, OI 1.73
!Dealer net short premium -$9.0M
!Gamma flip at $55 if spot drops sharply
How to Use These Reports
This theta reflects the market close on May 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.