HYG
iShares iBoxx High Yield Corporate Bond ETFClose $79.62EOD onlyThis page reflects HYG options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Historical consensus-supported lens with full content, report chain context, and metric rail.
Flow Verdict
Watch next session: Monitor 78 put activity and spot vs gamma flip at 79.
Flow Summary
Net premium: -$19.6M bearish
P/C volume ratio: 4.55
P/C OI ratio: 3.69
Notable Prints
Read-through: High volume put, potential fear of downside.
Read-through: Low IV, small bullish wager.
Read-through: Higher IV, longer-term fear.
Read-through: Massive put volume, significant downside bet.
Read-through: Small put, near ATM.
Institutional Positioning
Call additions: Minimal call activity; light $81.50 call print (718 vol, OI 100) likely retail noise.
Put additions: Aggressive put accumulation: $74 put (10,178 vol, OI 1,253), $78 put (55,001 vol, OI 27,742), $82 put (396 vol, OI 180). Open interest surging at $78 and $74 strikes.
GEX/DEX consistency: Consistent: $-2.7B GEX (negative gamma) aligns with heavy put buying; DEX +185.7M shares suggests dealers hedge long deltas from put sales.
OI clusters: Largest put OI at $78 (27,742 contracts) and $74 (1,253 contracts); $80.5 put OI 200. Call OI negligible. Gamma flip at $79 (0.6% below spot).
Hedging evidence: Collars/put spreads possible; large $78 put block (55k vol) may be hedging HYG exposure; $74 put deep OTM insurance.
Max pain context: Spot at max pain (~$80.50); high put OI pressure suggests pinning near current levels, but bearish flow may push lower.
Signal vs Noise
Key Conclusions
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.
Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.
These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.