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SLV

iShares Silver TrustClose $53.28EOD only
Max Pain
$53.00
Next expiry Jun 29, 2026
Expected Move
±$0.51
0.9% from close
Price Gap
-0.28
Distance to max pain
IV Rank
26
Middle-high premium
P/C OI
0.49
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Jun 26, 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
Jun 26, 2026 close
SLV Theta Report
Analysis based on market close June 29, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short put credit spreads
Invalidation: Spot closes below $50 (gamma flip) or above $56.95 (resistance)
Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.5% from MP; +1 VIX 18

IV Environment

IV Regime
High
IV vs VIX
SLV IV at 68.7% vs VIX 17.65 – elevated commodity vol
Favorable?
Yes

Term structure: Steep contango from 0DTE to 1DTE then flattening; 0DTE ATM IV 8.5% distorts front

📈IV very high at 68.7% avg, selling premiums attractive but watch negative gamma
⚠️Dealer GEX -$7.8M negative, adds directional risk

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-7.8M)

Gamma flip: ~$50.00 — Approx — based on put OI concentration of 45,063 (5.1% below spot)

OI concentrations: Max pain $54 today & 6/30, $52 on 7/1; put floor $50, call wall $60-$75

Verdict: Pin risk elevated near $54; gamma flip at $50 provides key support

Premium Opportunities

#1
Put credit spread
Sell 2026-07-24 $50.00/$48.00 put spread
Sell $50/$48 put spread to capture premium while avoiding pin risk near $54.
Credit: $0.45-$0.56
Max loss: $1.44
BE: $49.44
Mgmt: Close at 50% max gain or at $50 invalidation level. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
#2
Iron condor
Sell 2026-07-24 $50.00/$48.00 put wing and $55.00/$57.50 call wing
Sell $50/$48 put and $55/$57.50 call wings to profit from range-bound price action.
Credit: $1.07-$1.30
Max loss: $1.20
BE: 48.70 / 56.30
Mgmt: Adjust if price nears either wing; close at 50% max profit. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.

Risk Alerts

!Negative dealer gamma (-$7.8M) amplifies pin risk and volatility
!Spot below max pain $54 increases probability of drift toward support
!Term structure extreme at 0DTE implies high event risk
How to Use These Reports
This theta reflects the market close on June 29, 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.