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IWM

iShares Russell 2000 ETFClose $282.49EOD only
Max Pain
$279.00
Next expiry May 22, 2026
Expected Move
±$3.47
1.2% from close
Price Gap
-3.49
Distance to max pain
IV Rank
9
Low premium
P/C OI
2.71
Slightly put-heavy
Consensus
7.5/10
Bearish tilt
Published snapshot: May 21, 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
May 21, 2026 close
IWM AI Consensus Report
Analysis based on market close April 7, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 7, 2026. A newer ai consensus report is available for May 21, 2026.

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Conviction
6.5

out of 10

6.5 because structural signals (large negative GEX and concentrated put selling) bias downside, but conviction is tempered by: evidence of institutional accumulation that could defend levels, the spot sitting above max-pain which slows immediacy, and a nearby gamma flip threshold that creates asymmetric risk if breached — any of those can invalidate a unilateral bear move.

Where Perspectives Agree

Dealer short-gamma and concentrated put flow are creating a bearish pin toward the $248 max-pain band, making the path-of-least-resistance to the downside while small upside call GEX creates limited upside magnets.

Where They Diverge

Flow intel shows pockets of institutional accumulation and large buy-side prints that imply strategic positioning long below $250 — this directly contradicts the pure bearish continuation implied by dealer hedging and puts; additionally, a theta-driven front-week premium-selling approach expects mean-reversion and IV contraction, which would undermine a fast directional breakdown thesis.

Top Trade
via directional

Buy 2026-05-22 256/246 bear put spread — debit trade, defined risk, directional downside exposure through the primary decay window.

Key Risk

A decisive break below $240 (sustained close and liquidity sweep under $240) removes dealer short-gamma support, triggers stop cascades and downside acceleration — downside momentum would extend quickly toward the next structural support near $233, invalidating the pin/range thesis.

How to Use These Reports
This ai consensus reflects the market close on April 7, 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.