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TLT

iShares 20+ Year Treasury Bond ETFClose $85.12EOD only

Max Pain

$85.00

Next expiry Jun 10, 2026

Expected Move

±$0.56

0.7% from close

Price Gap

-0.12

Distance to max pain

IV Rank

Low premium

P/C OI

0.78

Slightly call-heavy

Consensus

9.5/10

Bullish tilt

Published snapshot: Jun 9, 2026 close

End-of-day snapshot

This page reflects TLT options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 9, 2026 close

TLT Flow Report

Analysis based on market close June 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.1% from MP; +0.5 VIX 20

Watch next session: $80.50 call volume; $83.00 call OI

Flow Summary

Net premium: +$34.5M bullish

P/C volume ratio: 0.74

P/C OI ratio: 0.78

Aggressive call accumulation across strikes, led by $83 Jul expiry. Net premium positive, put/call volume ratio low. Regime bullish with gamma pinning.

Notable Prints

TLT 2026-06-18 $80.50 Call

Vol: 6,800

OI: 102

Vol/OI: 66.7x

IV: 32.0%

Notional: ~$3.2M

Intent: Aggressive bullish bet near ATM; high V/OI suggests new position.

Dual read: Possible covering if short gamma, but flow is bullish.

Read-through: Expects TLT to rise above $80.50 by June 18.

TLT 2026-06-17 $80.50 Call

Vol: 5,500

OI: 300

Vol/OI: 18.3x

IV: 30.2%

Notional: ~$2.6M

Intent: Bullish positioning ahead of FOMC; large volume vs OI.

Read-through: Targeting same strike as above, one day earlier expiry.

TLT 2026-06-17 $81.00 Call

Vol: 3,600

OI: 304

Vol/OI: 11.8x

IV: 29.5%

Notional: ~$1.5M

Intent: Bullish spread or standalone upside bet.

Read-through: Slightly higher strike; shows upward momentum expectation.

TLT 2026-07-17 $83.00 Call

Vol: 20,030

OI: 1,801

Vol/OI: 11.1x

IV: 13.0%

Notional: ~$5.1M

Intent: Long-dated bullish call; low IV relative to shorter expiries.

Dual read: May be volatility sale if written, but volume suggests buying.

Read-through: Expects TLT to rally into July expiration.

TLT 2026-06-18 $81.00 Call

Vol: 7,415

OI: 672

Vol/OI: 11.0x

IV: 29.6%

Notional: ~$3.2M

Intent: Another near-ATM call; consistent bullish flow.

Read-through: Accumulation of upside exposure.

Institutional Positioning

Call additions: Heavy at 80.5-83; Jul $83C 20k vol, 80.5C 6.8k

Put additions: Minor; $83P 2.5k vol

GEX/DEX consistency: Yes; both large positive, bullish alignment

OI clusters: 80.5-81 OI build; Jul $83C 1.8k OI

Hedging evidence: Minimal; small put at 83

Max pain context: Spot at MP; pinning expected

Signal vs Noise

~80.5C 66.7x vol/oi signal: institutional call accumulation

~Jul $83C 11.1x vol/oi signal: longer-dated bullish bet

~87.5C low vol/oi (<1) noise: likely closing/rolling

~Put prints low volume relative to OI: noise

Key Conclusions

📈Bullish call flow dominates; institutions adding upside at 80.5-83. Spot at MP supports pinning. Low put activity minimal hedge.

⚡Heavy GEX+188M and DEX+187M; dealers long gamma, likely stabilizing. Upside bias near term.

How to Use These Reports

This flow reflects the market close on June 9, 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.