Home Options HYGReports

HYG

iShares iBoxx High Yield Corporate Bond ETFClose $79.85EOD only

Max Pain

$79.50

Next expiry Jun 26, 2026

Expected Move

±$0.26

0.3% from close

Price Gap

-0.35

Distance to max pain

IV Rank

Low premium

P/C OI

3.28

Slightly put-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Jun 24, 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

Jun 24, 2026 close

HYG Theta Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

6.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 spot 0.5% from MP; +0.5 VIX 19

IV Environment

IV Regime

Low

IV vs VIX

HYG avg IV 5.8% vs VIX 18.9, typical for credit

Favorable?

Yes

Term structure: Put IV exceeds call IV across all expirations; short-term ATM IV dips at 22d

📊Put/call OI ratio 3.28 supports $80 pin

⚡Elevated put skew favors selling puts for high premium

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+811.6M)

Gamma flip: ~$79.00 — Approx — based on put OI concentration of 311,427 (1.1% below spot)

OI concentrations: Massive put OI at $80 across weekly/monthly expirations

Verdict: High pin risk at $80; dealer gamma positive likely holds spot near $80

Premium Opportunities

Put credit spread

Sell 2026-07-17 $79.00/$77.00 put spread

Sells out-of-the-money put spread to capture premium with support from structural put floor.

Credit: $0.10-$0.12

Max loss: $1.88

BE: $78.88

Mgmt: Close if spot breaks below $79 with volume. Liquidity warning: Liquidity constraints: short_put: Wide spread (59%).; long_put: Wide spread (133%).

Iron condor

Sell 2026-07-17 $79.00/$77.00 put wing and $81.00/$84.00 call wing

Sells both put and call spreads to profit from spot remaining near $80.

Credit: $0.08-$0.10

Max loss: $2.90

BE: 78.90 / 81.10

Mgmt: Adjust wings if pin risk materializes by expiration. Liquidity warning: Liquidity constraints: short_put: Wide spread (59%).; long_put: Wide spread (133%).; long_call: Open interest below 25.

Risk Alerts

!Put/call vol ratio 6.83 extreme bearish; net premium -$23.7M

!Gamma flip at $79; break below accelerates selling

!Structural put floor $74-$75 offers support

How to Use These Reports

This theta reflects the market close on June 25, 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.