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SLV

iShares Silver TrustClose $59.01EOD only

Max Pain

$64.00

Next expiry Jun 10, 2026

Expected Move

±$1.69

2.9% from close

Price Gap

+4.99

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.54

Slightly call-heavy

Consensus

5.0/10

Bearish tilt

Published snapshot: Jun 9, 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 9, 2026 close

SLV Flow Report

Analysis based on market close June 10, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 5.5% from MP

Watch next session: 50; 58; 45

Flow Summary

Net premium: -$113.1M bearish

P/C volume ratio: 0.66

P/C OI ratio: 0.54

Negative gamma and net premium suggest bearish skew despite heavy call volume. Spot below MP, high VIX, and dealer short gamma amplify downside risk. Unusual put strikes at 45 and 54 reinforce bearish tilt.

Notable Prints

SLV 2026-10-16 $64.00 Call

Vol: 6,588

OI: 122

Vol/OI: 54.0x

IV: 49.6%

Notional: ~$2.9M

Intent: Bullish speculation

Dual read: Short covering

Read-through: Expects silver rally by Oct

SLV 2026-06-10 $58.00 Call

Vol: 5,764

OI: 194

Vol/OI: 29.7x

IV: 10.2%

Notional: ~$17K

Intent: Closing position

Dual read: Expiration day trade

Read-through: Low IV suggests unwind

SLV 2026-06-10 $59.00 Call

Vol: 19,926

OI: 862

Vol/OI: 23.1x

IV: 24.2%

Notional: ~$20K

Intent: Expiration day closing

Dual read: Mispricing arbitrage

Read-through: Near zero premium, likely settlement

SLV 2026-06-26 $45.00 Put

Vol: 2,122

OI: 151

Vol/OI: 14.1x

IV: 73.5%

Notional: ~$42K

Intent: Protective put

Dual read: Speculative downside

Read-through: Deep OTM put, tail risk hedge

SLV 2026-06-12 $58.00 Call

Vol: 926

OI: 109

Vol/OI: 8.5x

IV: 51.3%

Notional: ~$80K

Intent: Short-term call

Dual read: Rolling position

Read-through: Active weekly trading

Institutional Positioning

Call additions: Oct $64 call (54x vol/OI) and near-term $58-62 calls.

Put additions: Jun12 $54 put (5.8x), Jun26 $45 put (14x), Jun12 $52 put.

GEX/DEX consistency: Mixed: GEX -$55M (short gamma) vs DEX +231M shares (long delta).

OI clusters: Largest put OI at $50 (gamma flip, 13.3% below spot).

Hedging evidence: Puts at $45,52,54 suggest hedging downside.

Max pain context: Spot below MP, gamma flip at $50, negative gamma amplifies moves.

Signal vs Noise

~Signal: Oct $64 call (54x vol/OI) indicates long-term bullish bet.

~Signal: Put OI concentration at $50 acts as gamma flip and support.

~Noise: Expiration-day high volume with low OI in near-term strikes.

~Signal: Negative GEX suggests dealer hedging amplifies volatility.

Key Conclusions

📈Oct $64 call signals long-term bullish conviction despite near-term hedging.

🛡️Heavy put buying at $45-54 and $50 gamma flip create strong downside support.

⚡Negative gamma amplifies moves; spot below MP may trigger rapid reversal.

How to Use These Reports

This flow reflects the market close on June 10, 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.