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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $79.94EOD only

Max Pain

$80.00

Next expiry Jun 18, 2026

Expected Move

±$0.32

0.4% from close

Price Gap

+0.06

Distance to max pain

IV Rank

Middle-high premium

P/C OI

3.84

Slightly put-heavy

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 12, 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 12, 2026 close

HYG Flow Report

Analysis based on market close June 12, 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 spot 0.6% from MP; +1 VIX 18

Watch next session: Monitor spot action near $79 gamma flip

Flow Summary

Net premium: -$10.7M bearish

P/C volume ratio: 2.52

P/C OI ratio: 3.84

Heavy put accumulation in deep OTM strikes with negative gamma positioning indicates bearish outlook. Spot near gamma flip at $79, with large put OI as resistance. Flow bearish unless spot breaks above.

Notable Prints

HYG 2027-01-15 $79.00 Put

Vol: 21,016

OI: 3,657

Vol/OI: 5.8x

IV: 10.8%

Notional: ~$4.0M

Intent: Bearish hedge or spec

Dual read: Hedge vs directional

Read-through: Bearish positioning at ATM

HYG 2027-01-15 $70.00 Put

Vol: 50,001

OI: 9,649

Vol/OI: 5.2x

IV: 14.0%

Notional: ~$2.1M

Intent: Deep OTM tail hedge

Dual read: Tail risk hedge vs speculative

Read-through: Fear of large downside

HYG 2027-01-15 $75.00 Put

Vol: 50,004

OI: 13,315

Vol/OI: 3.8x

IV: 12.5%

Notional: ~$3.8M

Intent: OTM bearish bet

Dual read: Hedge vs speculation

Read-through: Bearish outlook

HYG 2026-11-20 $82.00 Put

Vol: 396

OI: 180

Vol/OI: 2.2x

IV: 20.7%

Notional: ~$164K

Intent: ITM put position adjustment

Dual read: Rolling vs profit taking

Read-through: Existing position management

Institutional Positioning

Call additions: None significant

Put additions: Large Jan'27 puts at 70/75/79; Nov'26 82 put

GEX/DEX consistency: Inconsistent: GEX negative (-$917.7M) vs DEX positive (+182.7M shares)

OI clusters: Put OI at $79 (455K), $75, $70; flip level ~$79

Hedging evidence: High put/call ratio and unusual prints suggest hedging/bearish bets

Max pain context: Spot at max pain; gamma flip near $79

Signal vs Noise

~Unusual put volume at Jan'27 70/75/79 (5x OI) is signal

~Small Nov'26 82 put (vol/oi 2.2) may be noise

~High put/call ratio confirms bearish flow

Key Conclusions

🛡️Institutions buying long-dated puts on HYG

🔑Gamma flip at $79 a key level to watch

How to Use These Reports

This flow reflects the market close on June 12, 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.