Home Options HYGReports

HYG

iShares iBoxx High Yield Corporate Bond ETFClose $79.83EOD only

Max Pain

$80.00

Next expiry Jul 2, 2026

Expected Move

±$1.50

1.9% from close

Price Gap

+0.17

Distance to max pain

IV Rank

Low premium

P/C OI

3.24

Slightly put-heavy

Consensus

4.5/10

Bearish tilt

Published snapshot: Jun 26, 2026 close

End-of-day snapshot

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

Published Snapshot

Jun 26, 2026 close

HYG Flow Report

Analysis based on market close May 13, 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 May 13, 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 spot 0.1% from MP; +1 VIX 18

Watch next session: Monitor $81 put activity; $79 gamma flip

Flow Summary

Net premium: -$3.7M bearish

P/C volume ratio: 1.58

P/C OI ratio: 5.26

HYG flow heavily bearish: net premium -$3.7M, put/call vol ratio 1.58, unusual put prints. Negative GEX -$3.0B supports downside. Spot near gamma flip at $79.

Notable Prints

HYG 2026-05-29 $81.00 Put

Vol: 2,003

OI: 548

Vol/OI: 3.7x

IV: 25.7%

Notional: ~$180K

Intent: Short-term bearish bet

Dual read: Could be protective put on long HYG

Read-through: Expects near-term decline

HYG 2026-11-20 $82.00 Put

Vol: 396

OI: 180

Vol/OI: 2.2x

IV: 18.9%

Notional: ~$164K

Intent: Medium-term bearish hedge

Read-through: Hedging against Nov drop

HYG 2027-04-16 $75.00 Put

Vol: 413

OI: 198

Vol/OI: 2.1x

IV: 22.3%

Notional: ~$86K

Intent: Tail risk protection

Read-through: Expects deep out-of-the-money move

HYG 2026-11-20 $73.00 Put

Vol: 644

OI: 322

Vol/OI: 2.0x

IV: 24.2%

Notional: ~$61K

Intent: Bearish speculation

Dual read: Part of vertical spread?

Read-through: Expects lower prices

Institutional Positioning

Call additions: Minimal; no notable call activity.

Put additions: Heavy: May29 $81, Nov20 $82/$73, Apr27 $75 puts with high vol/OI ratios.

GEX/DEX consistency: Mixed: GEX -$3B (bearish) vs DEX +160M shares (long delta); flow favors puts.

OI clusters: Put OI concentrated near 79 (gamma flip level, ~1.1% below spot); high OI ratio 5.26.

Hedging evidence: Large put accumulation suggests hedging or directional bearish bets.

Max pain context: Spot at max pain; gamma flip at 79 provides potential support.

Signal vs Noise

~Signal: Unusual put prints, high put/call ratio, negative net premium.

~Signal: GEX negative, DEX positive divergence.

~Noise: Low VIX (17.87) not reflecting bearish flow.

Key Conclusions

🐻Institutions adding significant puts across expiries; bearish positioning evident.

⚠️DEX positive and gamma flip near spot may cushion downside; caution on aggressive bearishness.

How to Use These Reports

This flow reflects the market close on May 13, 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.