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SLV

iShares Silver TrustClose $56.07EOD only

Max Pain

$53.00

Next expiry Aug 7, 2026

Expected Move

±$1.66

3.0% from close

Price Gap

-3.07

Distance to max pain

IV Rank

Low premium

P/C OI

0.48

Slightly call-heavy

Consensus

6.5/10

Range bias

Published snapshot: Aug 5, 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 5, 2026 close

SLV Theta Report

Analysis based on market close June 22, 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 22, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 5.0% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

SLV IV 59.7% far above VIX 17.3; extreme skew suggests event premium.

Favorable?

Yes

Term structure: 0 DTE low 12.7%, then jump to 39%+ for 2-4 DTE; front-loaded event risk.

⚠️IV inflated relative to VIX; near-term spike indicates event—sell with defined risk.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+7.1M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 45,100 (15.1% below spot)

OI concentrations: Put OI 45,100 at $50 (15.1% below spot); Call wall $66-$85. Max pain $62.

Verdict: Pinning likely toward $62 max pain; dealer gamma positive ($+7.1M) supports. Bias neutral bullish near support.

Premium Opportunities

Put credit spread

Sell 2026-07-17 $55.00/$54.00 put spread

Sell 55/54 put spread to collect premium while limiting downside risk.

Credit: $0.19-$0.23

Max loss: $0.77

BE: $54.77

Mgmt: Close at 50% max gain or if SLV breaks below 54.53 support.

Short strangle

Sell 2026-07-24 $53.50 put + sell $65.00 call

Sell 53.50 put and 65.00 call to capture elevated IV from range-bound expectation.

Credit: $1.82-$2.23

Max loss: Unlimited

BE: 51.27 / 67.23

Mgmt: Monitor delta and gamma; adjust or close if SLV trends beyond strikes.

Risk Alerts

!Event risk from term structure spike near 2-4 DTE.

!Spot below max pain may drift toward $62.

How to Use These Reports

This theta reflects the market close on June 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.