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SLV

iShares Silver TrustClose $61.66EOD only
Max Pain
$56.00
Next expiry Aug 21, 2026
Expected Move
±$1.32
2.1% from close
Price Gap
-5.66
Distance to max pain
IV Rank
21
Low premium
P/C OI
0.44
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Aug 20, 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
Aug 20, 2026 close
SLV Theta Report
Analysis based on market close May 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 22, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Neutral
Invalidation: Break below $63.46 or above $70.00
Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV 61% vs VIX 17, high premium environment.
Favorable?
Yes

Term structure: Front-month low, contango from 5DTE.

📈GEX +168M pos, pinning supports selling near MP.
⚠️Spot below MP, put OI $50 floor.
💰IV elevated, sell theta further out.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+168.5M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 46,376 (26.9% below spot)

OI concentrations: Put OI $50 (46k, -27% spot), call wall $75-$100, max pain $70/$71/$69.

Verdict: Moderate pin risk; spot below $70 may drift up to max pain.

Premium Opportunities

#1
Short strangle
Sell 2026-06-26 $61.00 put + sell $80.00 call
Sells put below support and call above resistance to collect elevated IV premium.
Credit: $2.01-$2.46
Max loss: Unlimited
BE: 58.54 / 82.46
Mgmt: Close if spot nears 61 or 80; roll wings if breached.
#2
Iron condor
Sell 2026-06-26 $63.00/$60.00 put wing and $77.00/$83.00 call wing
Sells put and call credit spreads to profit from range-bound price.
Credit: $1.26-$1.53
Max loss: $4.47
BE: 61.47 / 78.53
Mgmt: Manage wings if spot approaches; close at 50% max profit.
#3
Put credit spread
Sell 2026-06-26 $64.50/$61.00 put spread
Sells put spread above support to collect premium.
Credit: $0.90-$1.11
Max loss: $2.39
BE: $63.39
Mgmt: Exit if spot falls below 63.46; monitor.

Risk Alerts

!Elevated IV may compress if VIX falls further.
!Put OI $50 acts as floor; break below could accelerate decline.
How to Use These Reports
This theta reflects the market close on May 22, 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.