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IWM

iShares Russell 2000 ETFClose $276.48EOD only
Max Pain
$275.00
Next expiry Apr 23, 2026
Expected Move
±$2.54
0.9% from close
Price Gap
-1.48
Distance to max pain
IV Rank
0
Low premium
P/C OI
2.49
Slightly put-heavy
Consensus
6.0/10
Range bias
Published snapshot: Apr 22, 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 22, 2026 close
IWM AI Consensus Report
Analysis based on market close April 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Conviction
6.0

out of 10

6 because dealer short-gamma and theta tilt align on near-term downside but institutional flow accumulation creates a material opposing force that could hold the pin; absence of a single decisive trigger keeps conviction from being higher.

Where Perspectives Agree

Market is biased lower into a ~$272–275 pin driven by dealer short-gamma and bearish flow; positioning and theta environment favor defined bearish exposure rather than naked directional longs.

Where They Diverge

Flow signals show pockets of institutional accumulation and sizable buys that imply potential upside support, directly contradicting the directional/short-gamma downside momentum; theta recommends selling premium which assumes chop, not a tail crash — this undermines aggressive put-heavy sizing.

Top Trade
via directional

Buy 2026-05-15 $275/$270 put spread (debit) — directional defined-risk bearish.

Key Risk

Sustained break and close above $282 (trigger: multi-session break of resistance with rising volume) flips dealer gamma long, cancels the pin and forces short-covering that pushes price toward $288–$290, invalidating the bearish thesis.

How to Use These Reports
This ai consensus reflects the market close on April 23, 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.