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IWM

iShares Russell 2000 ETFClose $269.39EOD only
Max Pain
$264.00
Next expiry Apr 16, 2026
Expected Move
±$2.32
0.9% from close
Price Gap
-5.39
Distance to max pain
IV Rank
67
High premium
P/C OI
2.54
Slightly put-heavy
Consensus
6.5/10
Consensus signal
Published snapshot: Apr 15, 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 15, 2026 close
IWM AI Consensus Report
Analysis based on market close April 15, 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 concentration and short-term pin mechanics are strong and favor mean-reversion into $270–273, but the conviction is pulled down by large structural put OI, institutional protective flow that can trigger a volatility regime change, and compressed front-week expiries that create binary risk; these factors make the pin fragile rather than high‑certainty.

Where Perspectives Agree

Short-term pin to the $270–273 cluster driven by concentrated dealer gamma and a net bullish premium environment — price is biased to hold/gravitate into that band absent a volatility shock.

Where They Diverge

Flow signals show institutional accumulation of downside protection (large put buying and program selling) that directly contradicts the directional pin — institutions are positioning for a post-pin fade, which undermines the pure upside-magnet thesis. Theta wants to aggressively sell front‑week calls into the pin, but the flow-provided put protection implies those sold calls may be exposed to asymmetric downside if institutional hedges trigger volatility spikes.

Top Trade
via theta

Sell Apr 17 $272/$274 call spread for ~$0.45 credit (front-week defined-risk call spread).

Key Risk

Break and settlement below $266 within the front-week window — dealer gamma flips, stops/hedges cascade, IV gaps higher and price accelerates toward the $250–$260 structural put cluster, invalidating the pin thesis.

Read the AI Analyst Consensus for IWM for 2026-04-15. This synthesis report combines directional, theta, flow, and earnings perspectives into one conviction view with setup, trigger, and invalidation context.