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EEM

iShares MSCI Emerging Markets ETFClose $67.71EOD only
Max Pain
$67.50
Next expiry Sep 25, 2026
Expected Move
±$1.01
1.5% from close
Price Gap
-0.21
Distance to max pain
IV Rank
8
Low premium
P/C OI
2.02
Slightly put-heavy
Consensus
4.0/10
Bearish tilt
Published snapshot: Sep 23, 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 23, 2026 close
EEM Theta Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 25, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short strangle
Invalidation: Spot breaks above $68.5 or below $67
Confidence:
5.5 / 10
base 5; -1 GEX/flow contradict; +1 spot 0.8% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV elevated vs VIX
Favorable?
Yes

Term structure: Front-end elevated, slight backwardation from 7d onward

📉Put/Call OI ratio at 1.91, elevated put positioning
⚠️GEX -$83.6M, dealer short gamma adds volatility risk
📊Max pain pin at $68 for front expiration

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-83.6M)

Gamma flip: ~$57.00 — Approx — based on put OI concentration of 81,827 (16.1% below spot)

OI concentrations: Put OI concentrated below spot, especially at $62-$45; call OI wall at $75-$75

Verdict: Moderate pin risk near $68 max pain, but broad OI distribution lowers risk

Premium Opportunities

#1
Short strangle
Sell 2026-07-17 $63.00 put + sell $74.00 call
Sell $63 put and $74 call, both outside pin area, premium selling favorable.
Credit: $1.57-$1.91
Max loss: Unlimited
BE: 61.09 / 75.91
Mgmt: Monitor IV and delta; adjust if spot approaches strikes. Liquidity warning: Liquidity constraints: short_call: Wide spread (148%).; short_put: Wide spread (76%).

Risk Alerts

!Negative dealer gamma may amplify moves
!High put/call ratio suggests hedging
!IV term structure shows front-end spike
How to Use These Reports
This theta reflects the market close on June 25, 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.