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SPY

SPDR S&P 500 ETFClose $741.25EOD only

Max Pain

$736.00

Next expiry May 21, 2026

Expected Move

±$5.88

0.8% from close

Price Gap

-5.25

Distance to max pain

IV Rank

Low premium

P/C OI

2.47

Slightly put-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: May 20, 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 20, 2026 close

SPY AI Consensus Report

Analysis based on market close May 20, 2026

Directional Theta Gang Flow Earnings Consensus

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

Conviction

9.0

out of 10

9 not 10 because the heavy put volume at $739-$740 creates uncertainty about breaking higher, and the 2.47 put/call OI ratio introduces potential gamma squeeze risk if spot holds.

Where Perspectives Agree

All three personas converge on a bullish pin near $735 with strong dealer gamma support and elevated put OI at $735, reinforcing rangebound upside.

Where They Diverge

Flow identifies heavy put buying at $739-$740 as a resistance level, which contradicts Directional's call spread targeting $760 and suggests near-term upside is capped.

Top Trade

via theta

Sell 2026-06-18 $740/$727 put spread for $1.35 credit — defined risk, profits from pin, avoids direct resistance at $740.

Key Risk

Break below $735 removes dealer gamma support and triggers stop-loss cascade — downside accelerates to $727.

How to Use These Reports

This ai consensus reflects the market close on May 20, 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.