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IWM

iShares Russell 2000 ETFClose $299.83EOD only

Max Pain

$298.00

Next expiry Jun 29, 2026

Expected Move

±$3.60

1.2% from close

Price Gap

-1.83

Distance to max pain

IV Rank

Low premium

P/C OI

2.72

Slightly put-heavy

Consensus

5.5/10

Bearish tilt

Published snapshot: Jun 26, 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 26, 2026 close

IWM Flow Report

Analysis based on market close June 29, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6 / 10

base 5; -1 GEX/flow contradict; +1 spot 0.0% from MP; +1 VIX 18

Watch next session: 296; 298; 290

Flow Summary

Net premium: +$29.5M bullish

P/C volume ratio: 1.54

P/C OI ratio: 2.76

Bearish put-heavy OI (P/C OI 2.76) but aggressive call buying at 296-298 (181k vol at 298) skews bullish. Net premium positive. Negative GEX but strong DEX. Mixed flow with bullish tilt per unusual call prints.

Notable Prints

IWM 2026-06-29 $298.00 Call

Vol: 181,324

OI: 1,812

Vol/OI: 100.1x

IV: 5.9%

Notional: ~$16.1M

Intent: Bullish opening

Dual read: or closing shorts

Read-through: Expects rally

IWM 2026-06-29 $297.00 Call

Vol: 92,816

OI: 1,356

Vol/OI: 68.5x

IV: 10.8%

Notional: ~$18.0M

Intent: Bullish

Read-through: Confidence up

IWM 2026-06-29 $296.00 Call

Vol: 34,373

OI: 705

Vol/OI: 48.8x

IV: 14.2%

Notional: ~$10.0M

Intent: Bullish

Read-through: Gains seen

IWM 2026-06-29 $296.00 Put

Vol: 108,659

OI: 2,802

Vol/OI: 38.8x

IV: 9.2%

Notional: ~$109K

Intent: Bearish hedge

Read-through: Downside protection

IWM 2026-06-29 $299.00 Call

Vol: 152,213

OI: 3,960

Vol/OI: 38.4x

IV: 2.0%

Notional: ~$1.4M

Intent: Lottery

Dual read: or closing

Read-through: Low probability

Institutional Positioning

Call additions: Large call vol at 296-298 strikes, June 29, 100x OI on 298C

Put additions: Heavy put vol at 296-297 June 29 and 287-288 July 1 puts

GEX/DEX consistency: Mixed: GEX negative (-$144M), DEX positive (+182M shares), flow contradictory

OI clusters: OI concentrated at 296-299; 299C OI 3.96k, 297P OI 2.99k

Hedging evidence: July 1 puts at 287-288 with high IV indicate downside hedging

Max pain context: Spot at max pain; MM likely to pin; sideways expected

Signal vs Noise

~Unusual call vol at 296-298 (100x OI) is signal; low IV OTM calls near expiry are noise

~Put vol at 296-297 and July 1 puts signal hedging and bearish bias

~Negative GEX with positive DEX is signal of dealer positioning

Key Conclusions

🚀Aggressive call buying at 296-298 strikes bullish signal

⚠️Heavy put flow and negative GEX warn of downside risk

📍Spot at max pain; pin action likely until expiry

How to Use These Reports

This flow reflects the market close on June 29, 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.