thetaOwl
HomeOptionsSLVReports

SLV

iShares Silver TrustClose $55.02EOD only
Max Pain
$53.50
Next expiry Jul 6, 2026
Expected Move
±$1.52
2.8% from close
Price Gap
-1.52
Distance to max pain
IV Rank
10
Low premium
P/C OI
0.51
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Jul 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
Jul 2, 2026 close
SLV Theta Report
Analysis based on market close May 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 15, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Short put credit spreads
Invalidation: Spot breaks above $75 resistance
Confidence:
5.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
AVG IV 68.85% vs VIX 18.43%; significantly higher
Favorable?
Yes

Term structure: Steep contango 0d->3d; back months ~50-55%

📈IV elevated; premium selling attractive but high vol
📌Pinning gamma near max pain supports premium collection

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+204.0M)

OI concentrations: Max pain today $68; call OI wall $75-$100; no put concentration

Verdict: Low downside pin risk; upside pin risk above $75

Premium Opportunities

#1
Put credit spread
Sell 2026-06-12 $64.50/$59.50 put spread
Sell put spread to capture elevated premium with defined risk.
Credit: $1.17-$1.44
Max loss: $3.56
BE: $63.06
Mgmt: Exit if SLV breaks below invalidation level $67.50.

Risk Alerts

!High IV but extreme skew at 0DTE
!Spot above max pain for today's expiry
!Dealer gamma positive but net premium negative
How to Use These Reports
This theta reflects the market close on May 15, 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.