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SLV

iShares Silver TrustClose $58.14EOD only
Max Pain
$58.50
Next expiry Sep 28, 2026
Expected Move
±$0.92
1.6% from close
Price Gap
+0.36
Distance to max pain
IV Rank
1
Low premium
P/C OI
0.42
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Sep 25, 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
Sep 25, 2026 close
SLV Theta Report
Analysis based on market close May 14, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 14, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Theta Collection
Invalidation: Spot breaks below $70 or above $80
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 11.0% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV (63%) well above VIX (17%)
Favorable?
Yes

Term structure: Front-month dip then gradual rise to ~54% across tenors

📊GEX +$320M bullish, dealer long gamma
📍Max pain pins $68/$75/$74 near-term
💰Rich IV offers premium opportunity despite pin risk

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+320.1M)

Gamma flip: ~$70.00 — Approx — based on put OI concentration of 60,879 (7.3% below spot)

OI concentrations: Put OI wall $70, call wall $80–$105

Verdict: Pinning risk moderate; spot near $73.5 between key levels. Dealer likely defends $70.

Premium Opportunities

#1
Iron condor
Sell 2026-06-05 $70.00/$68.00 put wing and $80.00/$82.00 call wing
Sells wings at $70/$68 put and $80/$82 call, profiting from range-bound price and high IV.
Credit: $0.94-$1.14
Max loss: $0.86
BE: 68.86 / 81.14
Mgmt: Close if spot nears either short strike; adjust wings if IV compresses.
#2
Put credit spread
Sell 2026-06-05 $70.00/$69.50 put spread
Sells $70/$69.50 put spread, collecting premium with defined downside risk.
Credit: $0.14-$0.18
Max loss: $0.32
BE: $69.82
Mgmt: Exit if spot breaks below $70 to limit loss.

Risk Alerts

!Spot 11% from $68 max pain
!Gamma flip at $70
!High IV may compress
How to Use These Reports
This theta reflects the market close on May 14, 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.