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HYG

iShares iBoxx High Yield Corporate Bond ETFClose $80.37EOD only
Max Pain
$80.00
Next expiry Apr 24, 2026
Expected Move
±$0.33
0.4% from close
Price Gap
-0.37
Distance to max pain
IV Rank
11
Low premium
P/C OI
4.94
Slightly put-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Apr 21, 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 21, 2026 close
HYG AI Consensus Report
Analysis based on market close April 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Conviction
5.5

out of 10

5.5 because dealer gamma and concentrated OI create a real, but fragile, pin; low vol supports premium-selling yet insufficient independent flow confirmation and missing flow/theta detail lower conviction.

Where Perspectives Agree

Market is pinned around $80 by dealer long-gamma and concentrated puts producing range-bound action with a downside bias — the pin holds technical orderflow near $80 but is fragile to continued bearish selling.

Where They Diverge

Theta persona favors selling premium into the pin (collecting credit); directional warns that persistent net put-selling and bearish flow increase probability of a gamma flip below ~78 that would invalidate premium-selling profitability — these views directly oppose each other on near-term trade directionality.

Top Trade
via theta

Sell Jun 18 $79/$76 put spread for ~$0.45 credit (defined-risk theta trade).

Key Risk

A clean break and daily close below $78 triggers dealer gamma flip and stop cascades, removing the pin and accelerating downside toward $76.20 support.

How to Use These Reports
This ai consensus reflects the market close on April 22, 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.