BIS - ProShares - UltraShort Nasdaq Biotechnology
The ProShares UltraShort Nasdaq Biotechnology fund is engineered to achieve daily returns that are precisely two times the inverse (-2x) of the Nasdaq Biotechnology Index's daily performance. This objective is measured before accounting for any associated fees and operational expenses.
As of Jun 30, 2026: spot at $13.57, ATM IV 55.0%, net GEX $113.
- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Market Cap
- $2.3M
- Beta
- -1.18
- 52-Week Range
- 13.81-35.58
- Dividend Yield
- $0.79
- IPO Date
- Apr 9, 2010
- Exchange
- NASDAQ
What BIS Looks Like to Options Traders Today
IV rank of 12.1% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); positive net gamma exposure ($113) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (-0.069) prices puts richer than calls, the typical equity downside-protection skew.
What This Page Covers
The BIS overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
Frequently asked BIS overview questions
- What is BIS?
- BIS is the ticker symbol for ProShares - UltraShort Nasdaq Biotechnology, an listed exchange-traded fund. The ProShares UltraShort Nasdaq Biotechnology fund is engineered to achieve daily returns that are precisely two times the inverse (-2x) of the Nasdaq Biotechnology Index's daily performance. This objective is measured before accounting for any associated fees and operational expenses. Listed on NASDAQ. BIS is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What does the BIS options snapshot look like today?
- As of Jun 30, 2026, the BIS options snapshot shows spot at $13.57, ATM IV 55.0%, IV rank 12.1%, net GEX $113, expected move 15.77%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are BIS's key statistics?
- ProShares - UltraShort Nasdaq Biotechnology (BIS) carries a market capitalization of $2.3M, 52-week range of 13.81-35.58. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does BIS belong to?
- ProShares - UltraShort Nasdaq Biotechnology operates in the Financial Services sector, in the Asset Management - Leveraged industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare BIS's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the BIS data on this page?
- The options snapshot above is dated Jun 30, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.