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TLT

iShares 20+ Year Treasury Bond ETFClose $87.05EOD only
Max Pain
$86.50
Next expiry Apr 22, 2026
Expected Move
±$0.52
0.6% from close
Price Gap
-0.55
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.60
Slightly call-heavy
Consensus
7.0/10
Range bias
Published snapshot: Apr 20, 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
Apr 20, 2026 close
TLT AI Consensus Report
Analysis based on market close April 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Conviction
6.5

out of 10

6.5 because dealer pinning and rich theta create durable range dynamics, but conviction is tempered by material flow-driven breakout risk and macro/event uncertainty that can quickly override the pin.

Where Perspectives Agree

Market pinned at $86—dealer gamma and concentrated puts create a chop-to-slightly-bullish regime where premium sellers and range strategies are favored until a macro shock.

Where They Diverge

Flow signals show visible institutional accumulation and size buying that could fuel a clean breakout above $88, directly contradicting the directional view that upside is capped absent macro shock; theta wants heavy short exposure while flow's large-lot buys increase tail risk for those shorts.

Top Trade
via theta

Sell May 15 2026 86/83.50 put credit spread for a net credit (defined-risk premium sale).

Key Risk

A daily close below $86 flips dealer gamma (short-to-long unwind) and triggers forced selling — downside would accelerate toward $82.50 support/gap fill, invalidating the pin and short-premium stance.

How to Use These Reports
This ai consensus reflects the market close on April 21, 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.