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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $80.18EOD only
Max Pain
$79.50
Next expiry May 29, 2026
Expected Move
±$0.38
0.5% from close
Price Gap
-0.68
Distance to max pain
IV Rank
8
Low premium
P/C OI
3.90
Slightly put-heavy
Consensus
9.0/10
Bearish tilt
Published snapshot: May 26, 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 26, 2026 close
HYG AI Consensus Report
Analysis based on market close April 13, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 13, 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 positioning, dealer gamma and concentrated strikes create a clear operational thesis (pin at $80 with downside risk if breached), but conviction is capped by conflicting flow signals (institutional hedging could absorb and reverse moves) and by a single precise technical trigger (a sub-$79 gamma flip) that would quickly invalidate the structural view.

Where Perspectives Agree

Market is effectively pinned at $80 in the near term — dealer gamma and concentrated option interest create a magnet that will keep HYG sticky around $80 unless a decisive break occurs; current positioning and premium dynamics favor range-bound, premium-driven trades with downside risk if the pin fails.

Where They Diverge

Directional sees a biased drift lower and expects a gamma-amplified breakdown; flow signals (institutional hedges/protective put accumulation) suggest sizable bid under the tape that would absorb selling and blunt momentum — these two views directly contradict whether downside selling can sustain a trend. Theta recommends aggressive premium selling because of low front-week IV and pin stability, but that approach would suffer materially if flow-led buying absorbs and then reverses into a short-squeeze or if a gamma flip occurs — so theta and directional are at odds on trade survivability.

Top Trade
via theta

Sell May 01 2026 80/78 put spread for a net credit (defined-risk premium sell)

Key Risk

A decisive break below $79.00 triggers a dealer gamma flip (loss of the $80 pin), which would accelerate downside into the $76 area and invalidate the range/premium-selling thesis.

How to Use These Reports
This ai consensus reflects the market close on April 13, 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.