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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $79.83EOD only

Max Pain

$79.50

Next expiry Jun 5, 2026

Expected Move

±$0.19

0.2% from close

Price Gap

-0.33

Distance to max pain

IV Rank

Low premium

P/C OI

3.84

Slightly put-heavy

Consensus

9.0/10

Bearish tilt

Published snapshot: Jun 4, 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 4, 2026 close

HYG Flow Report

Analysis based on market close June 5, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 spot 0.1% from MP; +0.5 VIX 22

Watch next session: HYG

Flow Summary

Net premium: -$20.8M bearish

P/C volume ratio: 4.15

P/C OI ratio: 3.78

Aggressive put buying dominates, hedging downside amid risk-off. Unusual put volume at Oct70 and Nov82 suggests deep bearish bets. Call activity minimal. Bias bearish.

Notable Prints

HYG 2026-06-12 $79.50 Call

Vol: 7,733

OI: 507

Vol/OI: 15.2x

IV: 9.7%

Notional: ~$178K

Intent: Bullish speculation

Dual read: Closing or roll

Read-through: Short-term bullish

HYG 2026-10-16 $70.00 Put

Vol: 10,000

OI: 1,305

Vol/OI: 7.7x

IV: 17.2%

Notional: ~$350K

Intent: Hedging downside

Dual read: Speculative put

Read-through: Bearish tail risk

HYG 2026-11-20 $82.00 Put

Vol: 396

OI: 180

Vol/OI: 2.2x

IV: 18.9%

Notional: ~$164K

Intent: Profit-taking

Dual read: Opening bearish

Read-through: Bearish sentiment

HYG 2026-06-18 $80.50 Put

Vol: 300

OI: 200

Vol/OI: 1.5x

IV: 9.6%

Notional: ~$30K

Intent: Hedging

Dual read: Speculative put

Read-through: Near-term bearish

HYG 2027-05-21 $75.00 Call

Vol: 273

OI: 180

Vol/OI: 1.5x

IV: 13.8%

Notional: ~$135K

Intent: Bullish long-term

Dual read: Selling call

Read-through: Bullish outlook

Institutional Positioning

Call additions: Large call at $79.5 (7733 vol, 507 OI) and $75 call (2027) indicate bullish positioning.

Put additions: Large put at $70 (10k vol) and $82 put (396 vol) show downside hedging.

GEX/DEX consistency: Consistent: negative GEX (-$3B) with long DEX (+196.9M shares) aligns with bearish flow.

OI clusters: Put OI concentration at $79 (565k contracts) near spot; call OI sparse.

Hedging evidence: Deep OTM put at $70 (10k vol) and ATM put at $80.5 suggest hedging.

Max pain context: Spot at max pain; gamma flip at $79 reinforces pin near current levels.

Signal vs Noise

~Net premium -$20.8M and put/call ratio 4.15 are strong bearish signals.

~Large put at $70 is likely institutional hedging, not speculative.

~Small prints (e.g., $82 put 396 vol) are noise.

Key Conclusions

🔻Net premium negative with elevated put/call ratio signals institutional bearish flow.

⚡Large call at $79.5 shows bullish positioning but in bearish context, watch for reversal.

🛡️Deep OTM put $70 (10k vol) is likely hedging against tail risk.

How to Use These Reports

This flow reflects the market close on June 5, 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.