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DIA

SPDR Dow Jones Industrial Average ETFClose $521.44EOD only

Max Pain

$495.00

Next expiry Jun 18, 2026

Expected Move

±$5.40

1.0% from close

Price Gap

-26.44

Distance to max pain

IV Rank

100

High premium

P/C OI

1.88

Slightly put-heavy

Consensus

6.5/10

Range bias

Published snapshot: Jun 16, 2026 close

End-of-day snapshot

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

Published Snapshot

Jun 16, 2026 close

DIA Flow Report

Analysis based on market close June 16, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.3% from MP; +1 VIX 16

Watch next session: $525; $530

Flow Summary

Net premium: +$40.0M bullish

P/C volume ratio: 0.98

P/C OI ratio: 1.88

Positive net premium, strong GEX, and DEX alignment suggest bullish gamma positioning despite high put OI ratio. The market decline was met with call accumulation, indicating potential upside for DIA.

Notable Prints

DIA 2026-06-18 $521.00 Put

Vol: 1,162

OI: 137

Vol/OI: 8.5x

IV: 17.6%

Notional: ~$349K

Intent: Bearish protection near expiry

Dual read: May be opening new put

Read-through: Bearish sentiment

DIA 2026-06-18 $526.00 Call

Vol: 820

OI: 100

Vol/OI: 8.2x

IV: 11.8%

Notional: ~$48K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

DIA 2026-06-18 $524.00 Call

Vol: 1,502

OI: 196

Vol/OI: 7.7x

IV: 11.6%

Notional: ~$153K

Intent: Bullish speculation

Read-through: Short-term bullish

DIA 2026-06-26 $520.00 Call

Vol: 1,737

OI: 252

Vol/OI: 6.9x

IV: 12.6%

Notional: ~$835K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

DIA 2026-06-26 $521.00 Call

Vol: 1,108

OI: 182

Vol/OI: 6.1x

IV: 16.8%

Notional: ~$488K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Aggressive call buying at 522-526 (6/18) and 520-522 (6/26), net premium +$40M.

Put additions: Near-term put buying at 521,525; Dec31 puts at 456-458 (tail hedge).

GEX/DEX consistency: Yes – GEX +$73.4M, DEX +13.1M, regime Pinning, flow consistent.

OI clusters: Largest OI: 522C (342), 525P (260), 520C (252) near 520-526; Dec31 456P/458P elevated.

Hedging evidence: Dec31 puts at 456-458 with high vol/OI (4-5x) and IV ~21.5% indicate institutional tail hedging.

Max pain context: Spot above max pain; pinning near 520-522 expected due to positive GEX.

Signal vs Noise

~Real: High vol/OI call buying at 520-526 strikes and long-dated tail puts.

~Noise: Put/call OI ratio 1.87 skewed by long-dated hedges; low VIX 16 suggests no panic.

~Real: Net premium +$40M and GEX +$73.4M show bullish dealer flow.

Key Conclusions

📈Call accumulation at resistance zones suggests institutional bullish positioning.

🛡️Long-dated put buying at 456-458 indicates tail hedging, but not panic.

📌Positive gamma and spot above MP imply pinning near 520-522 short-term.

How to Use These Reports

This flow reflects the market close on June 16, 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.