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SLV

iShares Silver TrustClose $51.51EOD only
Max Pain
$51.50
Next expiry Oct 19, 2026
Expected Move
±$0.91
1.8% from close
Price Gap
-0.01
Distance to max pain
IV Rank
32
Middle-high premium
P/C OI
0.39
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Oct 16, 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 16, 2026 close
SLV Theta Report
Analysis based on market close June 5, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 5, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short put spreads
Invalidation: Break below $57.33 or above $67
Confidence:
4.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 8.1% from MP; +0.5 VIX 22

IV Environment

IV Regime
High
IV vs VIX
Avg IV 62% vs VIX 21.5, ratio 2.9
Favorable?
Yes

Term structure: 0DTE ATM 16.5% but skew extreme; 3d+ ~40-46% flat

📈High IV premium; call skew extreme on expiry
⚠️Max pain $67 pinning; spot $57.33 far below

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+1.4M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 46,381 (18.8% below spot)

OI concentrations: Put OI 46k at $50 (18.8% below spot); call wall $70-$90

Verdict: Spot below max pain; put OI floor, call wall; GEX positive supports pinning but caution on short puts near support

Premium Opportunities

#1
Put credit spread
Sell 2026-06-26 $59.00/$55.00 put spread
Sell $59/$55 put spread to collect premium with upside from current spot.
Credit: $0.87-$1.07
Max loss: $2.93
BE: $57.93
Mgmt: Monitor $57.33 support; close if breached or early profit.
#2
Short strangle
Sell 2026-06-26 $59.00 put + sell $66.00 call
Sell $59 put and $66 call to collect wide premium benefiting from time decay.
Credit: $2.32-$2.84
Max loss: Unlimited
BE: 56.16 / 68.84
Mgmt: Manage delta; roll untested side; set stop loss at 2x credit received.

Risk Alerts

!Front-week IV skew from expiration distorts term structure
!Spot far below max pain; rally potential but also gamma flip at $50
!Net dealer premium negative -$202M suggests hedging pressure
How to Use These Reports
This theta reflects the market close on June 5, 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.