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SLV

iShares Silver TrustClose $58.97EOD only
Max Pain
$58.00
Next expiry Sep 18, 2026
Expected Move
±$1.09
1.9% from close
Price Gap
-0.97
Distance to max pain
IV Rank
43
Middle-high premium
P/C OI
0.44
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Sep 17, 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 17, 2026 close
SLV Theta Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 18, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Iron Condor
Invalidation: Spot breaks below $50 gamma flip or above $63 resistance
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 spot 0.9% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
Avg IV 66% is ~4x VIX 16.4, extremely elevated premium environment.
Favorable?
Yes

Term structure: Front-month ATM IV 14% (expiring today), longer-dated ~44% - steep near-term, flat from 1w+.

📈Rich IV vs VIX, favorable for premium sellers with defined risk.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-21.7M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 45,113 (16.0% below spot)

OI concentrations: Put OI heavy $50 (45K), Call wall $66-$80. Max pain $59 for today's expiry.

Verdict: Pin risk elevated near $59; gamma flip at $50 poses downside pin risk.

Premium Opportunities

#1
Iron condor
Sell 2026-07-10 $58.00/$55.00 put wing and $62.50/$64.50 call wing
Sell $58/$55 put and $62.50/$64.50 call wings on SLV. Captures rich time decay with limited risk.
Credit: $1.20-$1.47
Max loss: $1.53
BE: 56.53 / 63.97
Mgmt: Set stop on IV collapse below 50% or spot breaking beyond $50-$63 range. Close 50% at 50% max gain.

Risk Alerts

!Expiration day pin risk: max pain $59 and heavy put OI at $50.
How to Use These Reports
This theta reflects the market close on June 18, 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.