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IWM

iShares Russell 2000 ETFClose $268.72EOD only
Max Pain
$262.00
Next expiry Apr 15, 2026
Expected Move
±$2.21
0.8% from close
Price Gap
-6.72
Distance to max pain
IV Rank
39
Middle-high premium
P/C OI
2.52
Slightly put-heavy
Consensus
6.5/10
Range bias
Published snapshot: Apr 14, 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
Apr 14, 2026 close
IWM AI Consensus Report
Analysis based on market close April 14, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Conviction
6.5

out of 10

6.5 because dealer gamma and concentrated call positioning provide a reliable short-term pin, and theta-friendly premiums improve odds for defined-risk sells, but conviction is capped by (a) clear institutional protective flow that can override the pin during stress and (b) a gamma flip trigger near $245 and a series of max-pain levels below spot that create meaningful asymmetric downside.

Where Perspectives Agree

Market is effectively pinned into the mid-260s with dealer gamma and concentrated option positioning creating a short-term bullish magnet around $268–$270; premium-rich environment makes defined-risk selling the highest-probability edge.

Where They Diverge

Flow intelligence shows sizable institutional put accumulation and protective buying at lower strikes, which directly contradicts the pure pin/bull continuation implied by GEX — if institutions are hedging, that increases tail downside despite dealer pinning. Theta recommends aggressive front-month premium sales while Flow and Directional warn that concentrated institutional protection creates asymmetric blowout risk on a linked stop-run.

Top Trade
via theta

Sell 2026-05-01 262/257 put spread for a net credit (defined-risk theta sell).

Key Risk

A sustained break and close below $245 on high volume that removes dealer short-gamma (gamma flip) — consequence: immediate acceleration lower into $240 area and rapid put repricing that invalidates the pin and wipes out short-put positions.

Read the AI Analyst Consensus for IWM for 2026-04-14. This synthesis report combines directional, theta, flow, and earnings perspectives into one conviction view with setup, trigger, and invalidation context.