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TLT

iShares 20+ Year Treasury Bond ETFClose $86.19EOD only

Max Pain

$85.50

Next expiry Jun 17, 2026

Expected Move

±$0.46

0.5% from close

Price Gap

-0.69

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.76

Slightly call-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: Jun 16, 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 16, 2026 close

TLT Flow Report

Analysis based on market close June 17, 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 1.0% from MP; +0.5 VIX 18

Watch next session: $86; $82

Flow Summary

Net premium: +$60.4M bullish

P/C volume ratio: 0.44

P/C OI ratio: 0.76

Strong call buying dominates, with net premium +$60M and PCR 0.44. GEX +$1.7B pinning spot near max pain. Unusual prints target July and weekly calls, signaling upside bias. Bearish macro drag from -1.25% SPY but flow overrides.

Notable Prints

TLT 2026-07-31 $89.00 Call

Vol: 4,161

OI: 123

Vol/OI: 33.8x

IV: 8.8%

Notional: ~$87K

Intent: Bullish on bonds

Dual read: Hedge or short squeeze

Read-through: Expects rate decline

TLT 2026-07-31 $85.00 Call

Vol: 4,055

OI: 199

Vol/OI: 20.4x

IV: 9.8%

Notional: ~$823K

Intent: Bullish on bonds

Dual read: Speculative/delta hedge

Read-through: Anticipates bond rally

TLT 2026-07-24 $88.00 Put

Vol: 3,012

OI: 184

Vol/OI: 16.4x

IV: 10.1%

Notional: ~$584K

Intent: Hedging bond decline

Dual read: Protective put

Read-through: Rates up

TLT 2026-06-18 $82.50 Call

Vol: 1,700

OI: 108

Vol/OI: 15.7x

IV: 31.6%

Notional: ~$666K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

TLT 2026-06-18 $80.50 Call

Vol: 14,750

OI: 1,152

Vol/OI: 12.8x

IV: 45.7%

Notional: ~$8.2M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Aggressive call buying at 80-89 strikes, Jun-Jul expiries

Put additions: Modest put adds at 86.5 and 88, likely hedging

GEX/DEX consistency: Consistent: GEX+$1.7B, DEX+213M shares, flow bullish

OI clusters: Largest OI at 88C (1453), 80.5C (1152), 89C (123)

Hedging evidence: Put activity at 88 and 86.5 suggests tail hedges on long bonds

Max pain context: Spot at MP; gamma pinning with positive GEX; gamma flip at 80

Signal vs Noise

~Large OTM call buying signals bullish bond positioning despite selloff

~Positive GEX/DEX confirms institutional delta hedging

~High vol/OI ratios indicate new call positions, not exits

~VIX moderate, not a strong signal

Key Conclusions

📈Institutions adding bullish call exposure in TLT across strikes and expiries, betting on bond rally.

🛡️Put activity hedged, not bearish; gamma pinning limits downside near MP.

How to Use These Reports

This flow reflects the market close on June 17, 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.