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SPY

SPDR S&P 500 ETFClose $742.72EOD only

Max Pain

$734.00

Next expiry May 22, 2026

Expected Move

±$4.93

0.7% from close

Price Gap

-8.72

Distance to max pain

IV Rank

Low premium

P/C OI

2.45

Slightly put-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

SPY AI Consensus Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Conviction

4.0

out of 10

4 not 5 because flow's bearish signal is strong and conflicts directly with the technical setup; 4 not 3 because directional and theta have high confidence and alignment on key support/resistance.

Where Perspectives Agree

Bullish pin to $737-739 with dealer long gamma and low VIX support — directional and theta align on drift towards max pain.

Where They Diverge

Flow's massive institutional put buying at $747-$748 directly contradicts the bullish pin thesis, indicating aggressive downside hedging that could cap upside or force a reversal.

Top Trade

via theta

Sell 2026-06-18 $740/$736 put credit spread for $0.50 credit — defined risk, profits from pin above $740, expires with theta decay.

Key Risk

Break below $730 invalidates pinning thesis, flips dealer gamma long, and accelerates downside to support at $660 region.

How to Use These Reports

This ai consensus reflects the market close on May 22, 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.