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IWM

iShares Russell 2000 ETFClose $287.67EOD only

Max Pain

$290.00

Next expiry Jun 4, 2026

Expected Move

±$2.42

0.8% from close

Price Gap

+2.33

Distance to max pain

IV Rank

Middle-high premium

P/C OI

2.64

Slightly put-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: Jun 3, 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

Jun 3, 2026 close

IWM Theta Report

Analysis based on market close June 4, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

6.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.0% from MP; +1 VIX 15

IV Environment

IV Regime

Normal

IV vs VIX

IV elevated vs VIX (24.4% vs 15.4%)

Favorable?

Term structure: Steep put skew near-term, IV higher in puts

⚠️High put IV skew indicates downside hedging pressure

📌Max pain pinning at $289, adjacent strikes $287

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+56.0M)

Gamma flip: ~$270.00 — Approx — based on put OI concentration of 116,014 (7.5% below spot)

OI concentrations: Max pain at $289 (06/04, 06/08), $287 (06/05)

Verdict: High pin risk near $289; gamma flip at $270

Premium Opportunities

Call diagonal

Sell 2026-07-17 $302.00 call / buy 2026-11-20 $300.00 call

Sell near-term $302 call, buy longer-term $300 call to capture time decay skew.

Debit: $10.08-$12.31

Max loss: $12.31

BE: Path-dependent

Mgmt: Monitor IV slope; adjust if break below $282.

Risk Alerts

!Bearish flow contradicts pinning signal

!Put skew elevated short-term increases tail risk

!Break below $270 invalidates support structure

How to Use These Reports

This theta reflects the market close on June 4, 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.