In the 8086 microprocessor, flags are special registers that are used to indicate the status of the previous operation and to control the execution of subsequent instructions.

The various flags available in 8086 microprocessor is as follows:

1. Carry Flag (CF): This flag is set when an arithmetic operation generates a carry or borrows from the most significant bit of the result. For example, if you add two 8-bit numbers and the result is greater than 255, the carry flag is set.
2. Parity Flag (PF): This flag is set when the result of an arithmetic or logical operation has an even number of set bits. For example, if you perform a logical AND operation between two values and the result has an even number of set bits, the parity flag is set.
3. Auxiliary Carry Flag (AF): This flag is set when an arithmetic operation generates a carry or borrow between bits 3 and 4 of the result. This flag is used for BCD (binary-coded decimal) arithmetic operations.
4. Zero Flag (ZF): This flag is set when the result of an arithmetic or logical operation is zero. For example, if you perform a subtraction operation that generates a result of zero, the zero flag is set.
5. Sign Flag (SF): This flag is set when the result of an arithmetic or logical operation is negative. For example, if you perform a subtraction operation that generates a negative result, the sign flag is set.
6. Trap Flag (TF): This flag is used for single-stepping through a program during debugging. When the trap flag is set, the processor automatically generates an interrupt after executing each instruction.
7. Interrupt Flag (IF): This flag enables or disables maskable interrupts. When the interrupt flag is set, maskable interrupts are enabled, and the processor can respond to external interrupts. When the interrupt flag is cleared, maskable interrupts are disabled, and the processor ignores external interrupts.
8. Direction Flag (DF): This flag is used to control the direction of string operations. When the direction flag is set, string operations are performed from high memory to low memory. When the direction flag is cleared, string operations are performed from low memory to high memory.
9. Overflow Flag (OF): This flag is set when an arithmetic operation generates a result that is too large or too small to be represented in the available number of bits. For example, if you add two signed 8-bit numbers and the result is outside the range of -128 to 127, the overflow flag is set.