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SPY

SPDR S&P 500 ETFClose $756.48EOD only
Max Pain
$750.00
Next expiry Jun 1, 2026
Expected Move
±$4.32
0.6% from close
Price Gap
-6.48
Distance to max pain
IV Rank
54
Middle-high premium
P/C OI
2.63
Slightly put-heavy
Consensus
4.0/10
Bullish tilt
Published snapshot: May 29, 2026 close
End-of-day snapshot

This page reflects SPY options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
May 29, 2026 close
SPY AI Consensus Report
Analysis based on market close April 13, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 13, 2026. A newer ai consensus report is available for May 22, 2026.

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Conviction
6.5

out of 10

6.5 because GEX concentration and net call positioning create a clear magnet and high sensitivity to small order flow, but low IV, upcoming expiries and the potential for a rapid gamma unwind on a single catalyst materially reduce conviction — strong setup but fragile.

Where Perspectives Agree

Bullish pin into the $685–$687 cluster with dealer short-gamma reinforcing any move toward that magnet; current positioning and call-heavy premium make the path of least resistance higher absent a catalyst.

Where They Diverge

Low IV and thin premium (theta) undermine large premium-selling structures — sellers get little compensation for gamma risk, which directly challenges the directional recommendation to lean into pinning via wide income trades; additionally, flow could show hidden institutional selling that would contradict the apparent pin if large executions arrive (flow would negate the dealer-pinning thesis).

Top Trade
via theta

Sell 2026-05-15 675/670 put spread for a net credit (theta-aligned defined-risk play capturing pin/above support).

Key Risk

Break and close below $682.61 (2-day EM lower) triggers dealer de-risking: gamma flips, liquidity withdraws and downside would accelerate toward $670 support, invalidating the pin and crushing short-put/condor structures.

How to Use These Reports
This ai consensus reflects the market close on April 13, 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.