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IWM

iShares Russell 2000 ETFClose $292.95EOD only

Max Pain

$288.00

Next expiry Jun 15, 2026

Expected Move

±$3.62

1.2% from close

Price Gap

-4.95

Distance to max pain

IV Rank

Middle-high premium

P/C OI

2.72

Slightly put-heavy

Consensus

5.0/10

Bullish tilt

Published snapshot: Jun 12, 2026 close

End-of-day snapshot

This page reflects IWM options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 12, 2026 close

IWM Flow Report

Analysis based on market close June 12, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 VIX 18

Watch next session: $290; $294-296

Flow Summary

Net premium: +$2.8B bullish

P/C volume ratio: 0.80

P/C OI ratio: 2.72

Heavy call volume (0.80 p/c vol ratio) and net premium inflow support bullish flow despite large OTM put buying for downside protection. Spot above MP with trending gamma; VIX below 18 adds confidence. GEX negative but DEX positive, reinforcing upside bias.

Notable Prints

IWM 2026-06-12 $293.00 Put

Vol: 109,679

OI: 363

Vol/OI: 302.1x

IV: 0.0%

Notional: ~$219K

Intent: Open put hedge

Dual read: Close short put

Read-through: Bearish

IWM 2026-06-12 $295.00 Put

Vol: 21,405

OI: 109

Vol/OI: 196.4x

IV: 0.0%

Notional: ~$3.7M

Intent: Open put hedge

Read-through: Bearish

IWM 2026-06-12 $292.00 Put

Vol: 81,916

OI: 567

Vol/OI: 144.5x

IV: 3.6%

Notional: ~$82K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

IWM 2026-06-12 $294.00 Call

Vol: 142,751

OI: 2,306

Vol/OI: 61.9x

IV: 3.9%

Notional: ~$143K

Intent: Open call

Dual read: Close short call

Read-through: Bullish

IWM 2026-06-12 $291.00 Put

Vol: 52,909

OI: 1,055

Vol/OI: 50.1x

IV: 6.6%

Notional: ~$53K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy 294C and 296C volume, OI low, likely speculative gamma plays.

Put additions: Massive 291-295P volumes, deep OTM, hedging or lottery tickets.

GEX/DEX consistency: GEX negative (short gamma) but DEX positive (long delta) — dealers net long delta but hedging downside.

OI clusters: 294C (2,306), 293P (363), 292P (567) high OI concentration near spot.

Hedging evidence: Large put buying at 291-295P suggests tail hedges or downside protection.

Max pain context: Spot ~293, MP likely near 293-294; pin action possible at expiration.

Signal vs Noise

~Deep OTM put volume (291-295P) likely noise if rolling/closing; high vol/OI ratios suggest event-driven positioning.

~294C and 296C massive volume with low OI indicates speculative call buying, not institutional accumulation.

Key Conclusions

📈IWM sees massive call volume at 294/296C — speculative gamma bets, not heavy accumulation.

🛡️Put wall at 291-295P suggests hedging or lottery plays; GEX negative but DEX positive.

How to Use These Reports

This flow reflects the market close on June 12, 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.