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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $80.13EOD only
Max Pain
$79.50
Next expiry May 29, 2026
Expected Move
±$0.30
0.4% from close
Price Gap
-0.63
Distance to max pain
IV Rank
6
Low premium
P/C OI
3.91
Slightly put-heavy
Consensus
9.0/10
Bearish tilt
Published snapshot: May 27, 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 27, 2026 close
HYG AI Consensus Report
Analysis based on market close April 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 10, 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 the strong dealer short-gamma and concentrated put interest create a credible path for fast downside, but conflicting flow evidence of institutional accumulation and a theta-oriented pin at $80 — plus tight EM/MP that can mute moves — keeps conviction from being higher; a nearby binary (earnings/liquidity event) or a flow-driven bid can rapidly negate the structural setup.

Where Perspectives Agree

Bias toward lower prices into the $74–$76 structural floor with dealer short-gamma and concentrated put positioning setting the market to accelerate on downside moves rather than grind higher.

Where They Diverge

Flow data shows notable institutional accumulation and large buy-side prints that imply sustained buyer support, which directly contradicts the directional thesis that downside is the path of least resistance; theta wants to heavy-sell premium at the $80 pin expecting chop and time decay to work, which conflicts with the directional view that a single break will cascade losses for sellers.

Top Trade
via directional

Buy 79/77 put spread, expiring 2026-05-01, expected debit.

Key Risk

Sustained two-session close above $81.20 (clearing the $80 pin and EM band) which triggers broad unwind of put positioning and reverses dealer gamma stance — removes the short-gamma amplifier and collapses the bearish trade, sending price into $82.50–$84 resistance.

How to Use These Reports
This ai consensus reflects the market close on April 10, 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.