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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $80.31EOD only
Max Pain
$80.00
Next expiry Jun 5, 2026
Expected Move
±$0.46
0.6% from close
Price Gap
-0.31
Distance to max pain
IV Rank
5
Low premium
P/C OI
3.80
Slightly put-heavy
Consensus
9.0/10
Bearish tilt
Published snapshot: May 29, 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
May 29, 2026 close
HYG AI Consensus Report
Analysis based on market close April 8, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 8, 2026. A newer ai consensus report is available for May 26, 2026.

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Conviction
6.5

out of 10

6.5 because position and dealer gamma alignment materially favor a drift to the put cluster, but low IV (reducing theta edge), the proximity to the gamma flip (~$79) which can rapidly change dynamics, and any institutional accumulation near current levels lower outright conviction.

Where Perspectives Agree

Market is biased lower toward the concentrated put cluster around $79 — dealer short-gamma and bearish flows create a pin/drag to that level, making defined-risk bearish spreads the highest-odds play.

Where They Diverge

Theta vs directional: directional and flow want to lean bearish, but the theta persona flags very low ATM IV which erodes seller edge and makes standard premium-selling less attractive; this directly undermines aggressive short premium sizing. Also, any active accumulation shown by flow that pads bids around $81 would conflict with a pure downhill trajectory to $79.

Top Trade
via theta

Sell May 15 $79/$77 put spread for a net credit (defined-risk bearish spread) — expected credit in the mid-single-digit cents per contract (theta persona).

Key Risk

Sustained break and close above $80.50 (with follow-through to $81.50) removes the put-cluster magnet, flips dealer hedging behavior, and would invalidate the bearish pin — likely triggers short-covering and a quick move toward $83-$85.

How to Use These Reports
This ai consensus reflects the market close on April 8, 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.