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SLV

iShares Silver TrustClose $48.72EOD only

Max Pain

$50.00

Next expiry Oct 26, 2026

Expected Move

±$0.98

2.0% from close

Price Gap

+1.28

Distance to max pain

IV Rank

Low premium

P/C OI

0.40

Slightly call-heavy

Consensus

6.5/10

Range bias

Published snapshot: Oct 23, 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 23, 2026 close

SLV Theta Report

Analysis based on market close June 10, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 10, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

6 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 5.5% from MP

IV Environment

IV Regime

High

IV vs VIX

IV 66.37% >> VIX 22.22%, high idiosyncratic premium.

Favorable?

Yes

Term structure: Front-end backwardation (2dte peak), then declining; extreme skew calls > puts.

⚠️Extreme skew: 2dte call IV 111% vs put 95%, upside fear.

ℹ️0dte IV low due to expiration, but avg IV high.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-55.1M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 46,220 (13.3% below spot)

OI concentrations: Call wall $70-$80; put floor $50-$50; max pain $61, $66, $63; gamma flip $50.

Verdict: Spot below MP $61, but OI concentrations suggest drift toward $61; $50 gamma flip as downside stop.

Premium Opportunities

Put credit spread

Sell 2026-07-10 $55.00/$50.00 put spread

Sells $55/$50 put spread to collect rich premium while limiting downside to $3.6.

Credit: $1.15-$1.40

Max loss: $3.60

BE: $53.60

Mgmt: Adjust if spot breaches $53.28; take profit at 50% max gain.

Short strangle

Sell 2026-07-02 $50.00 put + sell $64.50 call

Sells $50 put and $64.50 call to profit from range-bound movement near $61.

Credit: $1.32-$1.62

Max loss: Unlimited

BE: 48.38 / 66.12

Mgmt: Monitor closely; hedge if spot moves near strikes; consider early exit at 50% profit.

Risk Alerts

!Dealer short gamma ($-55.1M) amplifies moves; gamma flip $50 key.

!Skew call > put, atypical; monitor for reversal.

!Spot 5.5% from MP, drift likely but high IV may accelerate.

How to Use These Reports

This theta reflects the market close on June 10, 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.