Home Options IWMReports

IWM

iShares Russell 2000 ETFClose $295.59EOD only

Max Pain

$291.00

Next expiry Jun 22, 2026

Expected Move

±$3.23

1.1% from close

Price Gap

-4.59

Distance to max pain

IV Rank

100

High premium

P/C OI

3.17

Slightly put-heavy

Consensus

6.5/10

Range bias

Published snapshot: Jun 18, 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 18, 2026 close

IWM Flow Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 16

Watch next session: 290; 300

Flow Summary

Net premium: +$76.2M bullish

P/C volume ratio: 1.99

P/C OI ratio: 3.17

Heavy put buying dominates with $76M net premium; unusual prints at 287, 294, 293 puts indicate bearish skew. Gamma pinning near 295, flip at 290. GEX +$284.9M supports. Market modestly up, VIX 16.4. Bearish bias with pinning.

Notable Prints

IWM 2026-07-10 $287.00 Put

Vol: 11,069

OI: 372

Vol/OI: 29.8x

IV: 21.6%

Notional: ~$3.3M

Intent: Bearish

Read-through: Hedge

IWM 2026-06-18 $294.00 Put

Vol: 112,447

OI: 4,204

Vol/OI: 26.8x

IV: 5.5%

Notional: ~$112K

Intent: Close

Read-through: Expire

IWM 2026-07-02 $304.00 Call

Vol: 3,657

OI: 140

Vol/OI: 26.1x

IV: 19.0%

Notional: ~$563K

Intent: Bullish

Read-through: Spec

IWM 2026-06-23 $288.00 Put

Vol: 5,896

OI: 253

Vol/OI: 23.3x

IV: 17.9%

Notional: ~$242K

Intent: Bearish

Read-through: Hedge

IWM 2026-07-10 $275.00 Put

Vol: 11,039

OI: 575

Vol/OI: 19.2x

IV: 25.0%

Notional: ~$1.2M

Intent: Bearish

Read-through: Hedge

Institutional Positioning

Call additions: Selective buys at 7/2 $304C and 6/22 $296C; call flow light vs puts.

Put additions: Heavy put accumulation: 6/18 $293-294, 6/22 $293-294, 7/10 $275-287, 6/23-24 $285-288; high vol/oi ratios.

GEX/DEX consistency: Consistent: +$284.9M GEX and +203.2M DEX; dealer long gamma/delta, put flow likely hedging.

OI clusters: Largest OI: 6/18 $293P (6,987), 6/18 $294P (4,204), 6/22 $294P (980), 7/10 $287P (372); near spot.

Hedging evidence: Deep OTM puts (7/10 $275, $287) suggest portfolio hedges; June monthly puts likely rolled.

Max pain context: MP ~$295-296; spot above at $298; gamma pinning near $290 flip level.

Signal vs Noise

~Noise: 6/18 293P/294P high vol but expiring worthless today.

~Signal: 6/22 293P/294P and 7/10 287P buildup indicates real downside hedging.

Key Conclusions

⚠️Smart money adding deep OTM puts for protection; net put premium high.

📉Heavy put skew despite positive gamma suggests hedging, not directional bet.

How to Use These Reports

This flow reflects the market close on June 18, 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.