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SLV

iShares Silver TrustClose $69.45EOD only

Max Pain

$70.00

Next expiry May 22, 2026

Expected Move

±$1.68

2.4% from close

Price Gap

+0.55

Distance to max pain

IV Rank

Low premium

P/C OI

0.52

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

SLV Flow Report

Analysis based on market close May 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.8% from MP; +1 VIX 17

Watch next session: Monitor $69 and $68.5 strikes

Flow Summary

Net premium: +$35.8M bullish

P/C volume ratio: 0.32

P/C OI ratio: 0.52

Call-dominated flow with massive volume on $69 and $68 strikes, likely institutional positioning for upside. Net premium +$35.8M, put/call volume ratio 0.32, dealer gamma positive $191M. High confidence bullish.

Notable Prints

SLV 2026-05-29 $69.00 Call

Vol: 46,440

OI: 1,880

Vol/OI: 24.7x

IV: 47.5%

Notional: ~$10.4M

Intent: Bullish speculation

Dual read: Could be hedging

Read-through: Aggressive call buying

SLV 2026-05-29 $68.00 Call

Vol: 44,941

OI: 3,943

Vol/OI: 11.4x

IV: 47.0%

Notional: ~$12.5M

Intent: Bullish speculation

Dual read: or spread

Read-through: Similar call accumulation

SLV 2026-05-27 $92.00 Call

Vol: 878

OI: 115

Vol/OI: 7.6x

IV: 79.7%

Notional: ~$2K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

SLV 2026-05-22 $68.50 Call

Vol: 5,916

OI: 790

Vol/OI: 7.5x

IV: 39.6%

Notional: ~$799K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

SLV 2026-05-22 $71.50 Call

Vol: 4,940

OI: 1,022

Vol/OI: 4.8x

IV: 43.8%

Notional: ~$104K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call buying at $69 and $68 strikes for May 29 and May 22 expirations

Put additions: Minimal put additions; some at $66.5 and $80 OTM puts, low volume

GEX/DEX consistency: Consistent: +GEX and +DEX aligned with bullish call flow

OI clusters: Largest OI at $68 and $69 calls; also $66.5 and $71.5

Hedging evidence: No clear hedging patterns; limited put activity

Max pain context: Spot near max pain, pinning expected

Signal vs Noise

~High vol/oi ratio on $69 and $68 calls is real signal of institutional accumulation

~Low volume far OTM calls ($92) are noise

~The $80 put with high IV but low volume is noise

Key Conclusions

📈Aggressive call buying at $69 and $68 strikes for May 29 expiration

📌Positive gamma and delta alignment supports pinning near current levels

How to Use These Reports

This flow reflects the market close on May 21, 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.