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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

7.0/10

Bullish tilt

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 17, 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); -0.5 spot 3.3% from MP; +0.5 VIX 18

Watch next session: $522; $524; $530; $512

Flow Summary

Net premium: +$38.7M bullish

P/C volume ratio: 1.30

P/C OI ratio: 1.92

Mixed flow but net buying and positive gamma. High put volume likely hedging; need decline to confirm bullish bias. Pinning near 522. Broad market weak but DIA resilient. Confidence high.

Notable Prints

DIA 2026-06-18 $523.00 Put

Vol: 1,756

OI: 133

Vol/OI: 13.2x

IV: 26.4%

Notional: ~$1.3M

Intent: Hedging downside

Read-through: High OTM put volume suggests fear

DIA 2026-06-18 $512.00 Put

Vol: 2,687

OI: 268

Vol/OI: 10.0x

IV: 18.0%

Notional: ~$293K

Intent: Speculative put buying

Read-through: Tail risk hedge or bearish bet

DIA 2026-06-26 $530.00 Call

Vol: 2,351

OI: 236

Vol/OI: 10.0x

IV: 12.8%

Notional: ~$103K

Intent: Bullish call buying

Read-through: Optimistic on DIA recovery

DIA 2026-07-02 $515.00 Put

Vol: 836

OI: 104

Vol/OI: 8.0x

IV: 15.3%

Notional: ~$507K

Intent: Position hedging

Read-through: Protection against July decline

DIA 2026-06-18 $526.00 Call

Vol: 1,823

OI: 244

Vol/OI: 7.5x

IV: 15.4%

Notional: ~$18K

Intent: Short call?

Dual read: Potential call overwriting

Read-through: Low premium, high volume

Institutional Positioning

Call additions: Light, mostly OTM at 526/524/522 and 530, low volume/premium.

Put additions: Heavy at 523, 522, 512, 515; large OI buildup at 522.

GEX/DEX consistency: Consistent: GEX positive ($64.8M) and DEX long (13.5M shares) align with pinning.

OI clusters: Key OI at 522 put (366+103) and 523 put (133), forming resistance.

Hedging evidence: Puts at 523/522/515 suggest hedging against a dip below 510.

Max pain context: MP likely near 510-515; spot above implies pinning resistance at 522.

Signal vs Noise

~Heavy put volume at 523 and 522 (real hedging signal)

~Small OTM call buys at 526/524 are noise (low conviction)

~High put/call OI ratio (1.92) confirms bearish skew

Key Conclusions

🛡️Institutions adding downside protection via puts at 523/522/512; bearish tilt.

📌Positive GEX pinning near 522, but heavy put resistance caps upside.

How to Use These Reports

This flow reflects the market close on June 17, 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.