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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $79.96EOD only

Max Pain

$80.00

Next expiry Apr 17, 2026

Expected Move

±$0.53

0.7% from close

Price Gap

+0.04

Distance to max pain

IV Rank

High premium

P/C OI

4.63

Slightly put-heavy

Consensus

6.5/10

Consensus signal

Published snapshot: Apr 10, 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

Apr 10, 2026 close

HYG AI Consensus Report

Analysis based on market close April 10, 2026

Directional Theta Gang Flow Earnings Consensus

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

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.

Read the AI Analyst Consensus for HYG for 2026-04-10. This synthesis report combines directional, theta, flow, and earnings perspectives into one conviction view with setup, trigger, and invalidation context.