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DIA

SPDR Dow Jones Industrial Average ETFClose $524.32EOD only

Max Pain

$522.00

Next expiry Aug 7, 2026

Expected Move

±$6.81

1.3% from close

Price Gap

-2.32

Distance to max pain

IV Rank

Low premium

P/C OI

1.51

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jul 31, 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

Jul 31, 2026 close

DIA Flow Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 18, 2026. A newer flow report is available for June 26, 2026.

View latest report

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.5% from MP; +1 VIX 16

Watch next session: Monitor put open interest change; Watch for call buildup at 521

Flow Summary

Net premium: +$43.7M bullish

P/C volume ratio: 1.39

P/C OI ratio: 2.05

Heavy put volume with high vol/oi ratios, but net premium positive and positive GEX. Flow mixed, likely hedging. Call pickup expected for bullish confirmation.

Notable Prints

DIA 2026-09-18 $515.00 Put

Vol: 1,053

OI: 160

Vol/OI: 6.6x

IV: 13.0%

Notional: ~$1.3M

Intent: bearish

Read-through: speculative downside

DIA 2026-06-18 $516.00 Put

Vol: 2,289

OI: 351

Vol/OI: 6.5x

IV: 0.0%

Notional: ~$46K

Intent: closing

Read-through: expiry

DIA 2026-08-21 $535.00 Call

Vol: 603

OI: 158

Vol/OI: 3.8x

IV: 15.1%

Notional: ~$329K

Intent: bullish

Read-through: medium-term upside

DIA 2026-06-26 $521.00 Call

Vol: 494

OI: 129

Vol/OI: 3.8x

IV: 11.4%

Notional: ~$75K

Intent: bullish

Read-through: short-term upside

DIA 2026-06-26 $498.00 Put

Vol: 412

OI: 111

Vol/OI: 3.7x

IV: 15.3%

Notional: ~$15K

Intent: hedging

Read-through: downside protection

Institutional Positioning

Call additions: Minor call additions at 521 and 535.

Put additions: Heavy put additions at 470 (Jan27), 514-517, and 498.

GEX/DEX consistency: Consistent: GEX/DEX positive, flow mixed but put-heavy; pinning likely.

OI clusters: Put OI clusters at 470, 514-517, 498; call OI sparse.

Hedging evidence: Deep OTM 470 put and near-the-money puts indicate downside hedging.

Max pain context: Spot near MP, positive GEX supports pinning.

Signal vs Noise

~Put accumulation in 470 leap and near-term 514-517 is real hedging signal.

~Small call volume at 521 and 535 may be noise.

~Positive GEX/DEX despite put flow indicates market maker positioning not bearish.

Key Conclusions

📊Heavy put adds in 470 leap and 514-17 range indicate institutional hedging, not bearishness.

📌Positive GEX and spot at MP suggest pinning; ignore small call buys as noise.

How to Use These Reports

This flow reflects the market close on June 18, 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.