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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $80.01EOD only

Max Pain

$79.50

Next expiry Jun 26, 2026

Expected Move

±$0.31

0.4% from close

Price Gap

-0.51

Distance to max pain

IV Rank

100

High premium

P/C OI

3.75

Slightly put-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Jun 18, 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 18, 2026 close

HYG Flow Report

Analysis based on market close June 18, 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 0.0% from MP; +1 VIX 16

Watch next session: Monitor 81/82 put activity

Flow Summary

Net premium: -$13.2M bearish

P/C volume ratio: 3.01

P/C OI ratio: 3.75

Heavy put volume and negative gamma at 81/82 strikes indicate bearish sentiment on the underlying equity.

Notable Prints

HYG 2026-11-20 $82.00 Put

Vol: 396

OI: 180

Vol/OI: 2.2x

IV: 21.3%

Notional: ~$164K

Intent: Bearish hedging or directional put

Dual read: May include closing of existing shorts

Read-through: Long-dated put buying indicates downside protection demand.

HYG 2026-06-26 $81.00 Put

Vol: 1,100

OI: 576

Vol/OI: 1.9x

IV: 7.8%

Notional: ~$139K

Intent: Bearish speculation or hedging

Dual read: Partially closing or rolling positions

Read-through: Near-term put activity confirms bearish sentiment.

Institutional Positioning

Call additions: Minimal; net premium -$13.2M, call volume low

Put additions: Heavy; put/call ratio 3.0, unusual $82 and $81 puts

GEX/DEX consistency: Bearish; GEX -$10.9B aligns, DEX +182M shares hedges

OI clusters: Put OI 450k at $79 (1.3% below spot), $80-82 strikes

Hedging evidence: Unusual put prints on HYG suggest institutional hedging

Max pain context: Spot at MP; put OI below implies downside pressure

Signal vs Noise

~Heavy put volume and OI ratios are signal

~Low VIX does not negate bearish positioning

~Unusual prints confirm institutional hedging

Key Conclusions

🐻Sustained put accumulation signals downside hedging on HYG

⚠️Negative GEX amplifies bearish moves; watch $79 gamma flip

How to Use These Reports

This flow reflects the market close on June 18, 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.