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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $80.03EOD only

Max Pain

$80.00

Next expiry Jun 18, 2026

Expected Move

±$0.35

0.4% from close

Price Gap

-0.03

Distance to max pain

IV Rank

Middle-high premium

P/C OI

3.86

Slightly put-heavy

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 16, 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 16, 2026 close

HYG Flow Report

Analysis based on market close June 17, 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 0.3% from MP; +0.5 VIX 18

Watch next session: HYG $79 Put activity; Spot price relative to $79 gamma flip; Put/call volume ratio

Flow Summary

Net premium: -$6.2M bearish

P/C volume ratio: 2.56

P/C OI ratio: 3.82

Bearish flow dominates with heavy put buying, especially near-term $79 puts. Negative gamma and high put/call ratios signal downside pressure. Spot near gamma flip; break below could accelerate selling.

Notable Prints

HYG 2026-06-26 $79.00 Put

Vol: 11,530

OI: 669

Vol/OI: 17.2x

IV: 5.9%

Notional: ~$46K

Intent: hedging downside

Dual read: may be closing short puts

Read-through: bearish sentiment near term

HYG 2026-06-26 $79.50 Call

Vol: 317

OI: 131

Vol/OI: 2.4x

IV: 6.5%

Notional: ~$14K

Intent: bullish speculation

Dual read: part of a collar

Read-through: mild bullish

HYG 2026-11-20 $82.00 Put

Vol: 396

OI: 180

Vol/OI: 2.2x

IV: 20.4%

Notional: ~$164K

Intent: hedging longer-term

Dual read: profit-taking

Read-through: bearish outlook

HYG 2026-06-26 $81.00 Put

Vol: 1,100

OI: 576

Vol/OI: 1.9x

IV: 6.1%

Notional: ~$139K

Intent: hedging downside

Dual read: closing profitable puts

Read-through: bearish bias

Institutional Positioning

Call additions: Minor: 317x $79.5 call (6.5% IV), not material.

Put additions: Aggressive: 11,530x $79 weekly put (17.2x OI), 1,100x $81 put, 396x $82 Nov put.

GEX/DEX consistency: GEX -$52.9M consistent with bearish put flow; DEX +180M shares may hedge long exposure.

OI clusters: Largest OI at $79 put (450k contracts, 0.9% below spot).

Hedging evidence: Pervasive put additions indicate downside hedging or directional shorts.

Max pain context: Spot near max pain; pinning expected.

Signal vs Noise

~Heavy $79 weekly put volume (11,530 vs 669 OI) is real signal of new downside bets.

~Small $79.5 call volume is noise.

~Nov $82 put (396 vol, 20.4% IV) adds longer-term bearish signal.

Key Conclusions

🐻Institutions loading puts with 2.6x put/call volume ratio; $79 weekly put spike is standout.

⚠️Spot pinned to max pain with massive put OI at $79; downside biased unless $79 holds.

How to Use These Reports

This flow reflects the market close on June 17, 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.