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SLV

iShares Silver TrustClose $54.74EOD only
Max Pain
$55.50
Next expiry Oct 5, 2026
Expected Move
±$0.92
1.7% from close
Price Gap
+0.76
Distance to max pain
IV Rank
1
Low premium
P/C OI
0.41
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Oct 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
Oct 2, 2026 close
SLV Theta Report
Analysis based on market close May 19, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 19, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness5 / 10
Sizing: Moderate
Primary: Iron condor
Invalidation: Spot above $75 or below $60
Confidence:
4.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 5.8% from MP; +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
Avg IV 65% vs VIX 18% - very high
Favorable?
Yes

Term structure: Front-end IV elevated; call IV > put IV. Slight backwardation.

📌Max pain $71 pins
⚡Dealer GEX +$123M positive

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+123.4M)

OI concentrations: Call wall $75-$100; no put OI. Pins at $71.

Verdict: Pinning to $71 likely; capped by call wall.

Premium Opportunities

#1
Iron condor
Sell 2026-06-18 $65.00/$62.00 put wing and $70.00/$71.50 call wing
Sell 65/62 put wing and 70/71.5 call wing, 30 DTE.
Credit: $1.43-$1.75
Max loss: $1.25
BE: 63.25 / 71.75
Mgmt: Close at 50% max gain or adjust wings if spot breaks walls.
#2
Put credit spread
Sell 2026-06-18 $65.00/$62.00 put spread
Sell 65/62 put spread, 30 DTE.
Credit: $1.02-$1.25
Max loss: $1.75
BE: $63.75
Mgmt: Exit if spot breaks $60.88 invalidation level.
#3
Call credit spread
Sell 2026-06-18 $70.00/$71.50 call spread
Sell 70/71.5 call spread, 30 DTE.
Credit: $0.41-$0.50
Max loss: $1.00
BE: $70.50
Mgmt: Close early if spot nears $70 invalidation.

Risk Alerts

!Spot below MP bearish
!Call wall upside risk
How to Use These Reports
This theta reflects the market close on May 19, 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.