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IWM

iShares Russell 2000 ETFClose $277.35EOD only
Max Pain
$272.00
Next expiry Apr 21, 2026
Expected Move
±$2.61
0.9% from close
Price Gap
-5.35
Distance to max pain
IV Rank
7
Low premium
P/C OI
2.43
Slightly put-heavy
Consensus
6.5/10
Range bias
Published snapshot: Apr 20, 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 20, 2026 close
IWM AI Consensus Report
Analysis based on market close April 21, 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 directional signals and dealer gamma align on downside, but meaningful conflict from flow-led accumulation and theta short-gamma exposure plus macro/event tail risks prevent higher conviction.

Where Perspectives Agree

Modest bearish bias toward $271–$275 driven by dealer short-gamma and downside flow; market is more likely to grind lower than push materially higher absent a fresh catalyst.

Where They Diverge

Flow shows pockets of institutional accumulation and unusual buy prints that would sustain price and blunt the dealer-driven decline; theta persona favors selling premium (collecting credit) but that stance is directly vulnerable to the same accumulation-led rallies—flow accumulation would invalidate short-premium profitability.

Top Trade
via theta

Sell May 15 $286/$296 call spread for a net credit (defined-risk), targeting ~credit sized to available premium.

Key Risk

Sustained move and close above $296 (break above the sold call strike) tied to institutional buying or macro risk-on would flip dealer positioning, invalidate the bearish thesis, force short-covering and likely accelerate upside toward $310.

How to Use These Reports
This ai consensus reflects the market close on April 21, 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.