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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 10, 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

Watch next session: $80 gamma flip; call volume trend

Flow Summary

Net premium: +$34.8M bullish

P/C volume ratio: 0.58

P/C OI ratio: 0.77

Heavy call buying across multiple strikes and expirations (notable $94C, $87C) signals institutional bullish positioning. Positive GEX ($103.7M) and pinning regime support upside. Net premium $34.8M and low put/call ratio confirm bullish flow.

Notable Prints

TLT 2026-06-17 $81.50 Call

Vol: 4,802

OI: 199

Vol/OI: 24.1x

IV: 23.3%

Notional: ~$1.7M

Intent: Bullish opening

Read-through: High volume to open

TLT 2026-10-16 $94.00 Call

Vol: 24,100

OI: 1,227

Vol/OI: 19.6x

IV: 12.5%

Notional: ~$602K

Intent: Speculative buy

Dual read: Hedge

Read-through: Deep OTM lottery

TLT 2026-06-17 $80.00 Call

Vol: 2,904

OI: 206

Vol/OI: 14.1x

IV: 28.1%

Notional: ~$1.4M

Intent: Bullish opening

Read-through: ITM call open

TLT 2026-10-16 $87.00 Call

Vol: 34,605

OI: 2,514

Vol/OI: 13.8x

IV: 11.0%

Notional: ~$4.6M

Intent: Bullish opening

Read-through: Large OTM call open

TLT 2026-06-12 $82.50 Call

Vol: 1,100

OI: 103

Vol/OI: 10.7x

IV: 23.8%

Notional: ~$279K

Intent: Bullish opening

Read-through: Short-dated call open

Institutional Positioning

Call additions: Heavy call accumulation across multiple expirations, led by $87C Oct16 (34,605 vol) and $94C Oct16 (24,100 vol).

Put additions: Minimal put activity; put/call volume ratio 0.58.

GEX/DEX consistency: Consistent: GEX +$103.7M, DEX +191.1M shares, regime bullish and pinning.

OI clusters: Put OI heavy at 80 (gamma flip); call OI building at 81-82 strikes on weekly expirations.

Hedging evidence: None observed; flow directionally bullish.

Max pain context: Spot at MP (~81.5); MP pinning expected with GEX positive.

Signal vs Noise

~Signal: Sustained call buying with high vol/OI ratios (10-24x) across strikes and expirations, indicating institutional directional bets.

~Noise: Single large prints could be part of spread strategies; focus on net premium and consistent flow direction.

Key Conclusions

📈Institutions are aggressively adding calls on TLT, with net premium +$34.8M and put/call volume 0.58, signaling bullish bond outlook.

📌Spot near max pain ($81.5) with positive GEX/DEX suggests pinning and potential upward drift.

🔍Gamma flip at $80 provides downside support; heavy put OI there acts as a floor.

How to Use These Reports

This flow reflects the market close on June 10, 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.