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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 12, 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 0.9% from MP; +1 VIX 18

Watch next session: $80.50 call activity; $85.50 put OI; VIX direction

Flow Summary

Net premium: +$42.6M bullish

P/C volume ratio: 0.55

P/C OI ratio: 0.76

Dominant bullish flow with $42.6M net premium and heavy call accumulation, particularly near-dated. Regime: Pinning, low vol, spot at MP. Unusual prints show high call vol/oi ratios. Confidence high; gamma flip at $80 is key support.

Notable Prints

TLT 2026-06-18 $80.50 Call

Vol: 14,750

OI: 1,153

Vol/OI: 12.8x

IV: 32.2%

Notional: ~$8.2M

Intent: Bullish directional

Dual read: Possible short covering

Read-through: Expects rally above 80.50 by 6/18

TLT 2026-06-26 $93.00 Call

Vol: 2,422

OI: 320

Vol/OI: 7.6x

IV: 18.8%

Notional: ~$2K

Intent: Speculative upside

Read-through: Long-shot bullish with low IV

TLT 2026-06-17 $81.50 Call

Vol: 1,100

OI: 147

Vol/OI: 7.5x

IV: 26.4%

Notional: ~$478K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

TLT 2026-06-30 $90.00 Put

Vol: 3,941

OI: 621

Vol/OI: 6.3x

IV: 15.4%

Notional: ~$1.6M

Intent: Bearish hedge

Dual read: Part of spread

Read-through: Bearish by end of June

TLT 2026-06-17 $80.50 Call

Vol: 1,809

OI: 300

Vol/OI: 6.0x

IV: 31.3%

Notional: ~$977K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call buying at $80.5 (12.8x vol/OI) and $81.5, $76; OI building across 75-81 strikes.

Put additions: Minor put activity at $90 (6.3x) and $85.5 (5.2x), but OTM or close expiry.

GEX/DEX consistency: Strong alignment: +$1.2B GEX and +196M shares DEX support bullish flow.

OI clusters: Largest OI concentration at $80-81 strikes from elevated call volumes.

Hedging evidence: Modest put buys at $85.5 and $90 may serve as downside protection, not dominant.

Max pain context: Spot at max pain, pinning expected; gamma flip at $80 adds downside support.

Signal vs Noise

~Heavy call volume at $80.5 (12.8x) is strong bullish signal.

~93C (7.6x) at $0.01 is noise due to low premium and far OTM.

~Put volume at $85.5 and $90 are minor, likely hedging or noise.

Key Conclusions

📈Institutions building large call positions at $80-81, indicating bullish bias.

🛡️Gamma pinning at current levels with $80 flip support, downside limited.

🔊Net premium +$42.5M and low put/call ratio confirm bullish flow.

How to Use These Reports

This flow reflects the market close on June 12, 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.