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TLT

iShares 20+ Year Treasury Bond ETFClose $86.09EOD only

Max Pain

$86.00

Next expiry Jun 24, 2026

Expected Move

±$0.48

0.6% from close

Price Gap

-0.09

Distance to max pain

IV Rank

Low premium

P/C OI

0.71

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: Jun 22, 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 22, 2026 close

TLT Flow Report

Analysis based on market close June 23, 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 0.2% from MP; +0.5 VIX 19

Watch next session: 80 gamma flip; VIX direction; put/call ratio shift

Flow Summary

Net premium: +$14.5M bullish

P/C volume ratio: 0.75

P/C OI ratio: 0.71

TLT sees heavy call buying with net $14.5M long premium. Low vol and bullish flow support pinning near max pain. Bias remains bullish as long as spot holds above $80 gamma flip.

Notable Prints

TLT 2026-06-30 $72.00 Call

Vol: 1,500

OI: 151

Vol/OI: 9.9x

IV: 59.0%

Notional: ~$2.1M

Intent: Bullish leverage

Dual read: Synthetic long

Read-through: Bullish

TLT 2026-06-30 $80.00 Call

Vol: 3,103

OI: 327

Vol/OI: 9.5x

IV: 32.2%

Notional: ~$1.9M

Intent: ATM pinning

Dual read: Synthetic long

Read-through: Bullish

TLT 2026-07-10 $94.00 Call

Vol: 1,516

OI: 167

Vol/OI: 9.1x

IV: 16.4%

Notional: ~$2K

Intent: Lottery ticket

Dual read: Spread component

Read-through: Bullish

TLT 2026-07-02 $88.50 Call

Vol: 5,125

OI: 624

Vol/OI: 8.2x

IV: 10.8%

Notional: ~$26K

Intent: Event speculation

Dual read: Hedging

Read-through: Bullish

TLT 2026-06-24 $73.00 Call

Vol: 718

OI: 105

Vol/OI: 6.8x

IV: 50.0%

Notional: ~$960K

Intent: Roll/exercise

Read-through: Bullish

Institutional Positioning

Call additions: Aggressive buys at $72-$94 calls (vol/oi 5-10x)

Put additions: $84P added (4050 vol)

GEX/DEX consistency: Bullish flow aligns with +GEX/+DEX

OI clusters: Put OI heavy ~$74; gamma flip $80

Hedging evidence: Put OI below spot and $84P add suggest hedging

Max pain context: Spot at MP; pinning expected

Signal vs Noise

~Aggressive calls (strikes $72-$94) are bullish signal

~$84P put likely hedging noise

Key Conclusions

📈Institutions loading up on OTM calls, strong bullish tilt.

⚠️Put OI below spot and $84P add indicate hedging floor.

🎯Spot at max pain, gamma pinning suggests range-bound near MP.

How to Use These Reports

This flow reflects the market close on June 23, 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.