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SLV

iShares Silver TrustClose $67.99EOD only
Max Pain
$68.00
Next expiry Jun 3, 2026
Expected Move
±$1.22
1.8% from close
Price Gap
+0.01
Distance to max pain
IV Rank
7
Low premium
P/C OI
0.53
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: Jun 2, 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 2, 2026 close
SLV Theta Report
Analysis based on market close April 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 17, 2026. A newer theta report is available for May 26, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Conservative
Primary: Sell 1–3w put-credit spreads (short 0.10–0.18 delta, 3–5 point wings) and prefer call-credit wings in same expiries if flow leans bid
Invalidation: Sustained move above $79.75 or break and hold below gamma flip $70 invalidates premium-selling edge
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 15.0% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
ATM IV elevated vs VIX; same‑day (day‑0) prints distorted by flow but 1–5w implieds exceed realized by ~6–9 vol points historically, preserving a short‑timeframe edge
Favorable?
Yes

Term structure: Front-to-intermediate term skew steep; day‑0 anomalies compress after 48–72h—prefer 7–21d expiries for cleaner premium capture

⚠️Day‑0 IV distortion present; avoid overnight entry into same‑day expiries unless hedged
📈1–5w implied > realized by ~6–9 vol pts, supporting defined‑risk sell spreads

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+275.8M)

Gamma flip: ~$70.00 — Approx — based on put OI concentration of 61,449 (4.9% below spot)

OI concentrations: Put OI concentrated ~61,449 contracts ~4.9% below spot around $70 (max‑pain cluster $64/$70)

Verdict: Material pin risk toward $70; mitigate by sizing at Conservative, using defined‑risk put‑credit spreads (3–5pt wings) and buying tail protection below $67 or delta‑hedging if breach accelerates

Premium Opportunities

#1
Put credit spread
Sell 2026-05-08 $65.00/$62.00 put spread
Collect premium as short-time decay; 3-pt wing limits tail risk if price pins near $65
Credit: $0.33-$0.40
Max loss: $2.60
BE: $64.60
Mgmt: Size small; take off or roll wider if sustained move below $65; buy tail protection if price drops below $62
#2
Call credit spread
Sell 2026-05-08 $85.00/$88.00 call spread
Sell 85 / buy 88 to collect premium with limited risk and low vega exposure due to short tenor
Credit: $0.23-$0.28
Max loss: $2.72
BE: $85.28
Mgmt: Trim or buy protection if market breadth flips or VIX>25; tighten or roll if price rallies toward or above 85

Risk Alerts

!Event-driven gap above $77 erodes selling edge
!Rapid VIX pickup >25 or directional flow flip removes dealer support
How to Use These Reports
This theta reflects the market close on April 17, 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.