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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $79.85EOD only

Max Pain

$79.50

Next expiry Jun 26, 2026

Expected Move

±$0.26

0.3% from close

Price Gap

-0.35

Distance to max pain

IV Rank

Low premium

P/C OI

3.28

Slightly put-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Jun 24, 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 24, 2026 close

HYG Flow Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.5% from MP; +0.5 VIX 19

Watch next session: Price action near $79; Put/call volume ratio

Flow Summary

Net premium: -$23.7M bearish

P/C volume ratio: 6.83

P/C OI ratio: 3.28

HYG shows bearish flow with extreme put activity and negative net premium, but positive gamma near $79 may pin price. Downside bias persists.

Notable Prints

HYG 2026-11-20 $82.00 Put

Vol: 396

OI: 180

Vol/OI: 2.2x

IV: 21.4%

Notional: ~$164K

Intent: Bearish hedge or speculation

Dual read: Low volume, could be part of spread

Read-through: Mild bearish sentiment

HYG 2026-10-16 $76.00 Put

Vol: 5,000

OI: 3,015

Vol/OI: 1.7x

IV: 13.6%

Notional: ~$235K

Intent: Bearish speculation or tail risk hedge

Dual read: Could be put selling but premium suggests buying

Read-through: Bearish view on HYG

Institutional Positioning

Call additions: Minimal; net premium negative

Put additions: Large at Nov $82 and Oct $76 strikes; 2x+ OI

GEX/DEX consistency: GEX positive (pinning), DEX long; put flow bearish – consistent

OI clusters: Put OI heavy at 76 and 82; call OI negligible

Hedging evidence: Put adds suggest credit hedging/tail risk protection

Max pain context: Spot near MP (~$79); gamma flips at $79

Signal vs Noise

~Signal: Extreme put/call ratio (6.8 vol, 3.3 OI); unusual put prints

~Noise: Low VIX (19) typical; HYG flow may reflect broad credit sentiment

Key Conclusions

🛡️Large put hedging signals credit market caution

📌GEX pinning near MP supports range-bound price action

⚠️Put accumulation caps upside rallies

How to Use These Reports

This flow reflects the market close on June 25, 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.