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IWM

iShares Russell 2000 ETFClose $274.51EOD only
Max Pain
$275.00
Next expiry Apr 22, 2026
Expected Move
±$3.16
1.1% from close
Price Gap
+0.49
Distance to max pain
IV Rank
20
Low premium
P/C OI
2.40
Slightly put-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Apr 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
Apr 21, 2026 close
IWM AI Consensus Report
Analysis based on market close April 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Conviction
6.0

out of 10

6 because multiple signals (dealer gamma, concentrated puts, and premium-rich market) align for a pin/neutral-bull outcome, but conviction is capped by the credible, discrete downside trigger at $271 and conflicting institutional flow that could either cement or invalidate the pin quickly.

Where Perspectives Agree

Market is range-bound with a mild bullish tilt: dealer negative-gamma and concentrated put positioning create a pin near current levels that supports sideways-to-slightly-up price action unless a clear macro sell-off arrives.

Where They Diverge

Flow signals show institutional accumulation calling for continuation higher, while directional flags a significant asymmetric downside tail if $271 breaks — these are incompatible because institutional buying would prevent the break that underpins the downside thesis; theta wants continued premium selling which assumes stability and therefore contradicts an imminent volatility/price gap scenario.

Top Trade
via theta

Sell May 15 $275/$273 put spread for credit (defined-risk short put spread, expires May 15)

Key Risk

Break below $271 triggers dealer gamma flip and stop cascades, removing the pin and accelerating downside toward $265 support within days.

How to Use These Reports
This ai consensus reflects the market close on April 22, 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.