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TLT

iShares 20+ Year Treasury Bond ETFClose $85.77EOD only

Max Pain

$85.00

Next expiry Jun 15, 2026

Expected Move

±$0.49

0.6% from close

Price Gap

-0.77

Distance to max pain

IV Rank

Low premium

P/C OI

0.76

Slightly call-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: Jun 12, 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 12, 2026 close

TLT Flow Report

Analysis based on market close June 11, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 11, 2026. A newer flow report is available for June 12, 2026.

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Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.2% from MP; +0.5 VIX 19

Watch next session: $80 gamma flip; 80-90 call strikes

Flow Summary

Net premium: +$30.3M bullish

P/C volume ratio: 1.24

P/C OI ratio: 0.76

Net premium +$30M signals aggressive call buying, with unusual prints at $80 and $80.5 vol/oi >7x. GEX +$1.3B pinning near $80 despite mixed volume ratio.

Notable Prints

TLT 2026-06-18 $80.00 Call

Vol: 5,254

OI: 386

Vol/OI: 13.6x

IV: 32.6%

Notional: ~$3.2M

Intent: Bullish

Dual read: Pinning

Read-through: Bullish

TLT 2026-06-17 $80.00 Call

Vol: 2,096

OI: 185

Vol/OI: 11.3x

IV: 31.1%

Notional: ~$1.3M

Intent: Bullish

Dual read: Pinning

Read-through: Bullish

TLT 2027-05-21 $85.00 Call

Vol: 5,245

OI: 704

Vol/OI: 7.5x

IV: 11.7%

Notional: ~$2.3M

Intent: Long-term bull

Read-through: Neutral

TLT 2026-06-18 $80.50 Call

Vol: 14,750

OI: 2,053

Vol/OI: 7.2x

IV: 30.5%

Notional: ~$8.2M

Intent: Strong bullish

Read-through: Bullish

TLT 2026-06-12 $77.00 Call

Vol: 894

OI: 125

Vol/OI: 7.2x

IV: 82.4%

Notional: ~$804K

Intent: Speculation

Read-through: Bullish

Institutional Positioning

Call additions: Large call volume at $80-85 strikes (80,80.5,85) with vol/oi >7, plus 2027 call.

Put additions: Puts added at $89-90 strikes, vol/oi ~5-6, and put OI concentration at $80 (117K).

GEX/DEX consistency: GEX +$1.3B and DEX +196.6M shares align with pinning regime; mixed flow consistent.

OI clusters: Largest OI at $80 put (117K) and likely at $80-85 calls from unusual activity.

Hedging evidence: Call buying at lower strikes and put buying at higher strikes suggests collar structure.

Max pain context: Spot above MP, gamma pinning near $80, call wall at 80-85.

Signal vs Noise

~Signal: Repeated large call sweeps at $80 and $80.5 with IV expansion confirm institutional bullish positioning.

~Noise: Broad market rally and net premium stat are secondary to specific flow patterns.

Key Conclusions

🚀Institutions aggressively adding calls at 80-85, bullish tilt.

⚠️Put hedging at 89-90 and gamma flip at 80 suggest downside protection.

📊GEX/DEX positive and pinning regime indicates rangebound near 80-86.

How to Use These Reports

This flow reflects the market close on June 11, 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.