thetaOwl
HomeOptionsSLVReports

SLV

iShares Silver TrustClose $59.07EOD only
Max Pain
$59.50
Next expiry Sep 4, 2026
Expected Move
±$1.61
2.7% from close
Price Gap
+0.43
Distance to max pain
IV Rank
3
Low premium
P/C OI
0.44
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Sep 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
Sep 2, 2026 close
SLV Theta Report
Analysis based on market close June 4, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 4, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Iron Condor
Invalidation: Spot closes above $68 or below $62.91
Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.5% from MP; +1 VIX 15

IV Environment

IV Regime
High
IV vs VIX
IV 56% vs VIX 15, very expensive
Favorable?
Yes

Term structure: Upward sloping after dip, near-term vol low

📈High IV vs VIX rich premium
🎯Gamma pinning near $68 supports stability
⚠️Put OI below spot increases downside risk

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+150.2M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 46,386 (25.4% below spot)

OI concentrations: Max pain $68 near exp; call wall $75-$100

Verdict: Moderate pin risk, gamma pin at $68, call wall caps upside

Premium Opportunities

#1
Iron condor
Sell 2026-06-26 $64.00/$62.00 put wing and $70.00/$72.50 call wing
Sell put spread 64/62 and call spread 70/72.5
Credit: $1.00-$1.22
Max loss: $1.28
BE: 62.78 / 71.22
Mgmt: Close at 50% profit or near expiration
#2
Short strangle
Sell 2026-06-26 $62.00 put + sell $73.50 call
Sell put 62 and call 73.5
Credit: $1.41-$1.73
Max loss: Unlimited
BE: 60.27 / 75.23
Mgmt: Roll if tested

Risk Alerts

!Spot below MP, dealer hedging may pressure
!High call OI at $75+ could act as resistance
!IV dip in short terms suggests vol compression
How to Use These Reports
This theta reflects the market close on June 4, 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.