thetaOwl
HomeOptionsIWMReports

IWM

iShares Russell 2000 ETFClose $290.37EOD only
Max Pain
$285.00
Next expiry May 28, 2026
Expected Move
±$2.66
0.9% from close
Price Gap
-5.37
Distance to max pain
IV Rank
47
Middle-high premium
P/C OI
2.70
Slightly put-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: May 27, 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 27, 2026 close
IWM AI Consensus Report
Analysis based on market close April 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 10, 2026. A newer ai consensus report is available for May 26, 2026.

View latest report
Conviction
6.5

out of 10

6.5 because position and gamma metrics align with a bearish tilt and premium is attractive, but conviction is capped by two asymmetric risks: concentrated max-pain pinning near $255–$256 that can produce short squeezes, and an imminent front-week IV compression/spike window (binary event risk) that can blow up short premium — plus conflicting institutional flow that could reverse the move.

Where Perspectives Agree

Consensus leans bearish/neutral with a downside bias toward the $255–$256 max-pain band and a higher probability of mean-reversion lower than rallies; selling defined-risk downside premium is the highest-probability way to monetize that bias.

Where They Diverge

Flow signals of institutional accumulation and sizeable call buys (flow persona) directly contradict the directional bearish thesis — if flows are sustained they can soak up dealer hedging and prop up price, undermining put-selling. Theta favors short premium while earnings/event-term structure (earnings persona) warns of compressed front-week IV and a possible vol spike, which would punish naked/short-dated premium sellers; that event risk directly undermines simple short-premium approaches.

Top Trade
via theta

Sell 2026-05-15 IWM 250/245 put spread for a net credit (defined-risk premium sell).

Key Risk

A decisive break and close below $245 that sustains selling (gamma flip) — this removes dealer short-gamma pressure, accelerates downside and would invalidate the short-premium/bearish carry thesis by pushing price toward the next structural support around $238 with gap-fill momentum.

How to Use These Reports
This ai consensus reflects the market close on April 10, 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.