Home Options HYGReports

HYG

iShares iBoxx High Yield Corporate Bond ETFClose $79.35EOD only

Max Pain

$79.50

Next expiry May 22, 2026

Expected Move

±$0.23

0.3% from close

Price Gap

+0.15

Distance to max pain

IV Rank

Low premium

P/C OI

3.74

Slightly put-heavy

Consensus

8.0/10

Bearish tilt

Published snapshot: May 19, 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

May 19, 2026 close

HYG Flow Report

Analysis based on market close May 15, 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 15, 2026. A newer flow report is available for May 19, 2026.

View latest report

Flow Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 spot 0.7% from MP; +0.5 VIX 18

Watch next session: $79 gamma flip; $79.50 call strike

Flow Summary

Net premium: +$3.7M bullish

P/C volume ratio: 1.66

P/C OI ratio: 4.05

Bearish bias from heavy put OI (ratio 4.05) and volume (1.66), despite a large HYG 2026-05-22 $79.50 Call print and positive net premium. Unusual put volumes include 25k July $73 puts. Negative GEX (-$4.3B) implies dealer hedging amplifies moves. Confirmation: break below $79. Invalidation: hold above $79.50 with renewed call buying.

Notable Prints

HYG 2026-05-22 $79.50 Call

Vol: 6,897

OI: 510

Vol/OI: 13.5x

IV: 6.0%

Notional: ~$179K

Intent: Bullish speculation

Dual read: Delta hedge

Read-through: Slight upside bias

HYG 2026-05-22 $79.00 Put

Vol: 2,002

OI: 254

Vol/OI: 7.9x

IV: 11.3%

Notional: ~$16K

Intent: Bearish near-term

Dual read: Position hedge

Read-through: Contrarian to call

HYG 2027-02-19 $65.00 Put

Vol: 1,622

OI: 286

Vol/OI: 5.7x

IV: 23.9%

Notional: ~$88K

Intent: Long-dated bearish hedge

Dual read: Tail risk

Read-through: Deep OTM put

HYG 2026-07-17 $73.00 Put

Vol: 25,000

OI: 6,151

Vol/OI: 4.1x

IV: 18.1%

Notional: ~$275K

Intent: Bearish protection

Dual read: Volatility hedge

Read-through: Downside hedging

HYG 2026-05-29 $81.00 Put

Vol: 2,003

OI: 548

Vol/OI: 3.7x

IV: 7.8%

Notional: ~$180K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: $79.5C 13.5x vol/oi, IV 6%

Put additions: $73P 25k vol, $79P 2k, $65P 1.6k; put OI ratio 4.05

GEX/DEX consistency: GEX -$4.3B, DEX +191.7M shares; mixed

OI clusters: Put OI at $79 (498k) dominant; calls thin

Hedging evidence: Puts across expiries (May-Jul-Nov) suggest tail hedging

Max pain context: Spot at MP; gamma flip at $79

Signal vs Noise

~Put OI ratio 4.05 is real bearish signal

~Unusual $79.5C call print with low IV is signal

~Large $73P 25k vol likely hedging noise

~Negative GEX but long DEX confuses directional signal

Key Conclusions

🟢Call buying at $79.5C with low IV hints at bullish bet

🔴Heavy put OI ratio (4.05) and multiple put prints indicate bearish hedging

⚠️Mixed GEX/DEX and flow suggest uncertain near-term direction

How to Use These Reports

This flow reflects the market close on May 15, 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.