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SLV

iShares Silver TrustClose $66.21EOD only

Max Pain

$68.00

Next expiry Jun 5, 2026

Expected Move

±$1.84

2.8% from close

Price Gap

+1.79

Distance to max pain

IV Rank

Low premium

P/C OI

0.53

Slightly call-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: Jun 3, 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

Jun 3, 2026 close

SLV Flow 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.

Flow Verdict

Confidence:

6.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.5% from MP; +1 VIX 15

Watch next session: Key level $68; VIX action

Flow Summary

Net premium: -$51.5M bearish

P/C volume ratio: 0.56

P/C OI ratio: 0.53

Positive gamma pinning supports upward drift. Call accumulation at $75-$77 targets early July. Net premium selling poses downside risk. Bias bullish with caution.

Notable Prints

SLV 2026-07-02 $75.00 Call

Vol: 4,031

OI: 205

Vol/OI: 19.7x

IV: 44.3%

Notional: ~$347K

Intent: Bullish

Read-through: Silver >75

SLV 2026-07-02 $77.00 Call

Vol: 3,770

OI: 191

Vol/OI: 19.7x

IV: 45.8%

Notional: ~$238K

Intent: Bullish

Read-through: Silver >77

SLV 2026-06-12 $68.00 Call

Vol: 9,097

OI: 1,503

Vol/OI: 6.0x

IV: 36.6%

Notional: ~$1.0M

Intent: Bullish

Read-through: Short up

SLV 2026-07-02 $66.00 Put

Vol: 1,064

OI: 263

Vol/OI: 4.0x

IV: 39.9%

Notional: ~$262K

Intent: Hedge

Read-through: Down prot

SLV 2026-06-12 $62.50 Call

Vol: 542

OI: 156

Vol/OI: 3.5x

IV: 43.9%

Notional: ~$261K

Intent: Bullish

Read-through: ITM call

Institutional Positioning

Call additions: Unusual call volume at $68, $75, $77 (Jul2) and long-dated $101 Jan27

Put additions: Small put additions at $66, $63 Jul2 and deep ITM $105 Jun18

GEX/DEX consistency: Consistent: GEX +$150M, DEX +229M shares, gamma pinning regime

OI clusters: Largest OI near $66 put and $68 call (weekly)

Hedging evidence: No clear collars; long-dated put at $105 suggests tail hedge

Max pain context: Spot below MP; pinning to higher levels expected

Signal vs Noise

~Large call volumes at $68 and $77 are real buying, not noise

~Net premium negative despite heavy call buying indicates aggressive put selling or premium imbalance

~Deep ITM put at $105 with high IV is likely a long-term hedge, not speculative

Key Conclusions

📈Institutions adding upside calls in silver; heavy call OI at $68/$75/$77 suggests bullish bets

⚠️Net premium negative implies some hedging or put selling; watch for pinning to max pain

🛡️Long-dated put at $105 suggests macro tail hedge; not bearish on near term

How to Use These Reports

This flow 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.