thetaOwl

IWM

iShares Russell 2000 ETFClose $279.87EOD only
Max Pain
$276.00
Next expiry May 21, 2026
Expected Move
±$2.71
1.0% from close
Price Gap
-3.87
Distance to max pain
IV Rank
5
Low premium
P/C OI
2.74
Slightly put-heavy
Consensus
4.0/10
Consensus signal
Published snapshot: May 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
May 20, 2026 close
IWM AI Consensus Report
Analysis based on market close May 15, 2026

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

You are viewing an older report from May 15, 2026. A newer ai consensus report is available for May 20, 2026.

View latest report
Conviction
8.5

out of 10

8.5 not 9.5 because the bearish thesis relies on pin action at $274, which is a fragile equilibrium if spot breaks above $278 or below $270, but the multi-perspective alignment justifies high conviction.

Where Perspectives Agree

All personas converge on a bearish bias into monthly expiration, with a target pin near $274 max pain supported by negative gamma and heavy put flow.

Where They Diverge

No significant conflicts; all perspectives align on bearish positioning and downside pressure.

Top Trade
via theta

Buy 2026-05-29 $275.00/$269.00 bear put spread for $2.10 debit — captures downside with defined risk, aligned with theta and flow signals.

Key Risk

Break above $278 invalidates bearish thesis as positive dealer gamma would trigger short squeeze, accelerating upside to $281.

How to Use These Reports
This ai consensus reflects the market close on May 15, 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.