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 19, 2026

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

You are viewing an older report from May 19, 2026. A newer ai consensus report is available for May 20, 2026.

View latest report
Conviction
6.5

out of 10

6.5 not higher because the Theta conflict reduces alignment; if the bearish thesis holds, the put spread loses money. Not lower because directional and flow signals are strong and the conflict may resolve if spot stays above $262.5.

Where Perspectives Agree

All personas emphasize negative gamma and bearish flow, reinforcing a bearish bias toward the $270 gamma flip level with dealer hedging accelerating any break.

Where They Diverge

Theta's short put credit spread (selling $262.5/$256 puts) profits from price staying above $262.5, directly undermining the bearish directional and flow theses that anticipate a break below $270.

Top Trade
via directional

Buy 2026-05-22 $271/$269 bear put spread for $0.85 debit

Key Risk

A break above $278 rejects the bearish thesis and could trigger short covering, reversing the pin to max pain; alternatively, a sustained hold above $270 weakens the downside momentum.

How to Use These Reports
This ai consensus reflects the market close on May 19, 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.