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DIA

SPDR Dow Jones Industrial Average ETFClose $517.08EOD only

Max Pain

$514.00

Next expiry Jun 26, 2026

Expected Move

±$6.41

1.2% from close

Price Gap

-3.08

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.93

Slightly put-heavy

Consensus

6.0/10

Consensus signal

Published snapshot: Jun 22, 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 22, 2026 close

DIA Flow Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.3% from MP; +0.5 VIX 19

Watch next session: $515; $520; $522

Flow Summary

Net premium: +$30.8M bullish

P/C volume ratio: 1.13

P/C OI ratio: 1.90

Net premium +$30.8M, GEX +$10.6M, DEX +10.4M shares. Positive gamma pinning despite mixed flow. Heavy put activity at $515-$516 likely hedging, not bearish. Market down but DIA resilient, suggesting bullish bias with support near $515.

Notable Prints

DIA 2026-06-26 $515.00 Put

Vol: 906

OI: 234

Vol/OI: 3.9x

IV: 15.1%

Notional: ~$213K

Intent: Bearish directional bet

Dual read: Hedging or volatility sale

Read-through: Implies near-term downside risk

DIA 2026-06-26 $516.00 Call

Vol: 801

OI: 209

Vol/OI: 3.8x

IV: 17.1%

Notional: ~$312K

Intent: Bullish directional or gamma cover

Dual read: Part of spread or collar

Read-through: Suggests support at $516

DIA 2026-06-26 $518.00 Call

Vol: 1,055

OI: 351

Vol/OI: 3.0x

IV: 16.5%

Notional: ~$281K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

DIA 2026-07-24 $517.00 Call

Vol: 340

OI: 126

Vol/OI: 2.7x

IV: 16.7%

Notional: ~$337K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

DIA 2026-06-26 $522.00 Call

Vol: 681

OI: 283

Vol/OI: 2.4x

IV: 15.3%

Notional: ~$69K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Calls at 516,518,520,522 (6/26), 517 (7/24); net call premium +$30.8M

Put additions: Puts at 514,515,516,500 (6/26,7/2)

GEX/DEX consistency: GEX +$10.6M, DEX +10.4M shares; mixed flow but call premium dominates

OI clusters: Put OI cluster 22.6% below spot; call OI clusters 516-522

Hedging evidence: Mixed adds suggest collar positioning

Max pain context: Spot at MP; low vol, pinning gamma

Signal vs Noise

~High vol/OI calls at 516,518 signal bullish flow

~Put adds at 514-516 signal hedging

~Low vol regime reduces noise

Key Conclusions

📈Call premium additions near MP show institutional bullish bias

🛡️Put hedging OI cluster below spot warns of downside risk

📌Spot pinned at MP; expect tight range into 6/26 expiry

How to Use These Reports

This flow reflects the market close on June 23, 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.