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SLV

iShares Silver TrustClose $66.90EOD only

Max Pain

$71.00

Next expiry May 20, 2026

Expected Move

±$1.73

2.6% from close

Price Gap

+4.10

Distance to max pain

IV Rank

Low premium

P/C OI

0.53

Slightly call-heavy

Consensus

5.0/10

Range bias

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects SLV options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

SLV Flow Report

Analysis based on market close May 15, 2026

Directional Theta Gang Flow Earnings Consensus

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 flow report is available for May 20, 2026.

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Flow Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 VIX 18

Watch next session: $70 strike straddle activity; SPY/QQQ direction

Flow Summary

Net premium: -$1.9M bearish

P/C volume ratio: 0.63

P/C OI ratio: 0.52

SLV heavy institutional positioning via large May22 $70 straddle (56.7k calls, 60.7k puts) amid moderate VIX and positive gamma. Net premium negative signals net buying, suggesting upside bias but hedged. Spot above MP; confirmation requires call momentum. Invalidation on breakdown below $70.

Notable Prints

SLV 2026-05-18 $105.00 Call

Vol: 7,523

OI: 220

Vol/OI: 34.2x

IV: 134.4%

Notional: ~$8K

Intent: Lottery speculation

Read-through: Low probability OTM

SLV 2026-05-22 $70.00 Call

Vol: 56,736

OI: 1,776

Vol/OI: 31.9x

IV: 50.4%

Notional: ~$9.2M

Intent: Bullish directional

Dual read: Possible closing

Read-through: Aggressive bullish

SLV 2026-05-22 $105.00 Call

Vol: 5,845

OI: 192

Vol/OI: 30.4x

IV: 109.4%

Notional: ~$12K

Intent: Lottery speculation

Read-through: Extreme OTM

SLV 2026-07-17 $60.50 Put

Vol: 4,507

OI: 196

Vol/OI: 23.0x

IV: 52.4%

Notional: ~$1.0M

Intent: Bearish hedge

Dual read: Put selling possible

Read-through: Long-term bearish

SLV 2026-05-18 $66.00 Put

Vol: 4,243

OI: 197

Vol/OI: 21.5x

IV: 51.0%

Notional: ~$161K

Intent: Short-term bearish

Dual read: Closing trade

Read-through: Expiration week

Institutional Positioning

Call additions: Heavy at $70 and $69.5 strikes (vol 56.7k, 3.4k)

Put additions: Dominant at $70 (vol 60.7k), also $66 and $60.5

GEX/DEX consistency: Partially: GEX +204M and DEX +272M positive, but net premium -$1.9M and put flow suggest hedging

OI clusters: $70 put (4.4k OI), $70 call (1.8k), $53.5 put (433), $100 call (406)

Hedging evidence: Large put accumulation ($70, $66) and negative net premium indicate institutional hedging; possible collar with $70 call

Max pain context: Spot above MP; positive GEX implies pinning toward lower strikes, likely near $70

Signal vs Noise

~Signal: High vol/OI at $70 call (31.9x) and $70 put (13.8x) show concentrated positioning

~Signal: Negative net premium (-$1.9M) suggests institutional put hedging despite higher call volume

~Noise: OTM $105 calls (vol 7.5k, price 0.01) are speculative, not institutional

Key Conclusions

🛡️Heavy put accumulation at $70 signals institutional hedging, but positive GEX may pin price near that strike

🔥Unusual call volume at $70 aligns with GEX pinning, suggesting gamma squeeze potential if spot holds

How to Use These Reports

This flow 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.