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SLV

iShares Silver TrustClose $60.73EOD only
Max Pain
$59.50
Next expiry Sep 23, 2026
Expected Move
±$1.04
1.7% from close
Price Gap
-1.23
Distance to max pain
IV Rank
1
Low premium
P/C OI
0.44
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Sep 22, 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 22, 2026 close
SLV Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 24, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Short call credit spreads
Invalidation: Spot breaks above $60 resistance or below $49.2 gamma flip
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 10.7% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Avg IV 75% vs VIX 18.6, IV is ~4x VIX, elevated.
Favorable?
Yes

Term structure: Term structure steep near term with extreme skew; 0DTE call IV 141% vs put 37%.

⚠️Extreme 0DTE call skew (141% vs 37%) warns of short-term upside risk.
📈IV ~4x VIX, high for premium selling but trending mode adds risk.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-52.8M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 45,197 (3.4% below spot)

OI concentrations: Max pain pinned at $58 (0DTE), $62, $60. Heavy call OI wall $60-$75; put concentration at $50.

Verdict: High pin risk due to heavy call OI above spot and put concentration below; max pain near $58-$60.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $50.00/$47.00 put spread
Sell 50/47 put spread to collect elevated IV premium.
Credit: $0.70-$0.86
Max loss: $2.14
BE: $49.14
Mgmt: Close if spot breaks below 50; roll or let expire OTM.
#2
Cash-secured put
Sell 2026-07-17 $50.00 cash-secured put
Sell 50 put to collect rich premium, willing to buy shares.
Credit: $1.59-$1.95
Max loss: $48.05
BE: $48.05
Mgmt: Monitor spot; roll if tested or accept stock at 50.

Risk Alerts

!Trending regime increases directional risk; spot 10.7% below max pain.
!Negative net premium (-$85M) indicates dealer short gamma.
!Call wall at $60-$75 could act as resistance; break above may trigger short squeeze.
How to Use These Reports
This theta reflects the market close on June 24, 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.