thetaOwl
HomeOptionsEEMReports

EEM

iShares MSCI Emerging Markets ETFClose $67.47EOD only
Max Pain
$66.00
Next expiry Sep 4, 2026
Expected Move
±$0.52
0.8% from close
Price Gap
-1.47
Distance to max pain
IV Rank
2
Low premium
P/C OI
1.97
Slightly put-heavy
Consensus
4.0/10
Bearish tilt
Published snapshot: Sep 3, 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 3, 2026 close
EEM Theta Report
Analysis based on market close June 5, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 5, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Bearish Put Spread
Invalidation: Spot rallies above $70
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +0.5 VIX 22

IV Environment

IV Regime
Normal
IV vs VIX
IV > VIX by 2x+
Favorable?
No

Term structure: Front month elevated, inversion

📉High put OI ratio 1.84 bearish hedging
⚠️IV term structure inverted; skew favors puts

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-92.4M)

Gamma flip: ~$55.00 — Approx — based on put OI concentration of 172,300 (14.8% below spot)

OI concentrations: Put OI heavy $61 172K; call wall $70

Verdict: High pin risk $66-$67 max pain

Premium Opportunities

#1
Put calendar
Sell 2026-07-10 $61.00 put / buy 2026-08-21 $61.00 put
Sell near-term put, buy later put to profit from IV term structure and vol skew
Debit: $1.01-$1.24
Max loss: $1.24
BE: Path-dependent
Mgmt: Close if spot approaches $61 Liquidity warning: Liquidity constraints: short_put: Wide spread (147%).
#2
Call diagonal
Sell 2026-07-10 $66.00 call / buy 2026-08-21 $65.00 call
Sell near-term call, buy later call to capture time decay
Debit: $1.35-$1.66
Max loss: $1.66
BE: Path-dependent
Mgmt: Monitor at expiry Liquidity warning: Liquidity constraints: short_call: Wide spread (63%).

Risk Alerts

!Bearish net premium -$58M
!Put volume ratio 2.4x
!Negative dealer gamma -$92M
How to Use These Reports
This theta reflects the market close on June 5, 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.