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SLV

iShares Silver TrustClose $69.45EOD only
Max Pain
$70.00
Next expiry May 22, 2026
Expected Move
±$1.68
2.4% from close
Price Gap
+0.55
Distance to max pain
IV Rank
8
Low premium
P/C OI
0.52
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: May 21, 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
May 21, 2026 close
SLV Theta Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness9 / 10
Sizing: Moderate
Primary: Theta harvesting
Invalidation: Sustained breakout above $75 or below $63
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.8% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV 61.3% vs VIX 16.8, ratio 3.6x
Favorable?
Yes

Term structure: Front-end IV elevated; term structure flat after 1w, no steep contango

📈Rich IV premium; favorable for theta decay
⚠️Flat term structure limits roll yield

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+191.3M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 46,371 (28.0% below spot)

OI concentrations: OI wall $75-$100 call / $50 put; max pain $70 near-term

Verdict: Moderate pin risk; OI heavy at $70 but spot below

Premium Opportunities

#1
Iron condor
Sell 2026-06-18 $62.50/$59.00 put wing and $80.00/$88.00 call wing
Sells put and call wings around high OI pin at 70, collecting premium while protected against breakouts
Credit: $1.12-$1.38
Max loss: $6.62
BE: 61.12 / 81.38
Mgmt: Close at 50% max gain or adjust if spot approaches wings
#2
Put credit spread
Sell 2026-06-18 $65.00/$64.50 put spread
Sells put spread just above support, benefiting from inflated put premiums
Credit: $0.15-$0.18
Max loss: $0.32
BE: $64.82
Mgmt: Exit at 50% max profit or if spot breaks below 64

Risk Alerts

!High IV may compress on rally; monitor VIX
!Gamma flip at $50 is distant but large
How to Use These Reports
This theta reflects the market close on May 21, 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.