sideways, with heavy option volume, is a good indication of some re-positioning.
Remember, PIMCO uses TLT as a very large trading vehicle. One of many they are very active in.
The only question here is -- short or long? Hard to figure from option action in the ETF. But I took a stab at it.
Helps to look at the longer term yield charts. I posted a 5 day chart today, because I think TNX has overshot to the downside pretty significantly this week.
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