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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 14, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 14, 2026. A newer ai consensus report is available for May 22, 2026.

View latest report
Conviction
6.0

out of 10

Score 6 because positioning and GEX create a clear short-gamma pin that makes premium-selling logical, but unresolved and opposing flow activity plus the non-trivial risk of a pin-unwind (close < $684.68) and near-term concentrated expiries keep the trade from a higher conviction.

Where Perspectives Agree

All perspectives converge on a short-range, pin-to-$695 environment with dealer net short-gamma (pinning behavior) that makes defined-risk premium-selling the dominant edge into the near-term expiry cluster.

Where They Diverge

Theta/vol sellers favor collecting premium around the pin while the (reported) flow view indicates pockets of institutional accumulation and heavy call buying that, if it continues, would favor a directional squeeze higher — that flow accumulation directly undermines outsized short-call naked exposure and raises the risk of rapid pin-unwind. Additionally, the directional thesis accepts a calm range until a close below $684.68 flips hedges, but flow-driven upside spikes could invalidate put-heavy defensive plays.

Top Trade
via theta

Sell Apr 30 iron condor: short $682/$676 put spread and short $704/$710 call spread for a net credit (theta persona).

Key Risk

A daily close below $684.68 that sustains opens under $684 quickly flips dealer hedges into net sellers, removes the pin, and would accelerate downside toward the $681/near-term MP level — this single level/trigger would invalidate the short-condor/pin thesis.

How to Use These Reports
This ai consensus reflects the market close on April 14, 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.