What is the current GUSH expected move?

As of Jun 30, 2026, Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (GUSH) has an expected move of 14.85% over the next 17 days, implying a one-standard-deviation price range of $26.18 to $35.32 from the current $30.75. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.

What does the GUSH expected move mean for traders?

Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.

How is GUSH expected move calculated?

The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (GUSH) Expected Move

Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (GUSH) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $277.3M, listed on AMEX, carrying a beta of 0.11 to the broader market. The Direxion Daily S&P Oil & Gas Exploration & Production Bull and Bear 2X ETFs aim to generate daily returns that, prior to considering fees and expenses, equate to double (200%) the performance, or double (200%) the inverse performance, of the S&P Oil & Gas Exploration & Production Select Industry Index. public since 2015-05-29.

Snapshot as of Jun 30, 2026.

Spot Price: $30.75
Expected Move: 14.9%
Implied High: $35.32
Implied Low: $26.18
Front DTE: 17 days

As of Jun 30, 2026, Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (GUSH) has an expected move of 14.85%, a one-standard-deviation implied price range of roughly $26.18 to $35.32 from the current $30.75. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.

GUSH Strategy Sizing to the Expected Move

With Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF pricing an expected move of 14.85% from $30.75, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.

How to read the GUSH implied-range chart

The shaded range above shows the one-standard-deviation implied price band at each listed expiration, derived from ATM implied volatility scaled to days-to-expiration. The front-tenor expected move is 14.85%, anchoring an implied range of approximately $26.18 to $35.32. Under lognormal assumptions, roughly 68% of outcomes fall inside that band; 95% fall inside ±2σ; 99.7% inside ±3σ. The empirical equity-return distribution has fatter tails than lognormal, so true tail-outcome frequency is moderately higher than these closed-form numbers suggest.

GUSH expected move and event pricing

Expected move widens with √time: a 5% 30-day move corresponds to roughly a 2.5% 7.5-day move and a 10% 120-day move. GUSH term-structure is in contango (slope 0.033), so longer-dated tenors price in proportionally more vol than √time scaling alone would suggest - typically because long-dated cycles include uncertain macro states. With IV rank at 22.0%, the implied move is at the low end of the typical GUSH range - cheap optionality for buyers, thin premium for sellers.

Sizing GUSH structures to the expected move

Iron condors with wings at ±1σ collect the modal-outcome premium; ±1.5σ widens probability of inside-range to ~87% but cuts collected premium roughly in half. Strangles do the inverse trade - they pay against the same lognormal distribution, profiting when realized exceeds implied. Calendar spreads bet on the slope of the term structure rather than the level. GUSH put/call volume ratio currently at 0.16 indicates speculative call flow dominates - look for upside-skewed sentiment. The expected move is the inputs the chain is pricing, not a forecast - realized moves above or below are normal under any distribution.

Learn how expected move is reported and how to read the data →

Shaded band shows the ±1σ implied price range (~68% probability under lognormal assumptions) at each expiration; the center line marks current spot. Bands widen with longer DTE since volatility scales with √time.

Per-expiration expected move for GUSH derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $30.75 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.

Expiration	DTE	ATM IV	Expected Move	Implied High	Implied Low
Jul 17, 2026	17	51.8%	11.2%	$34.19	$27.31
Aug 21, 2026	52	55.1%	20.8%	$37.15	$24.35
Sep 18, 2026	80	57.0%	26.7%	$38.96	$22.54
Dec 18, 2026	171	60.0%	41.1%	$43.38	$18.12
Jan 15, 2027	199	60.0%	44.3%	$44.37	$17.13
Jan 21, 2028	570	61.4%	76.7%	$54.34	$7.16

Frequently asked GUSH expected move questions

What is the current GUSH expected move?: As of Jun 30, 2026, Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (GUSH) has an expected move of 14.85% over the next 17 days, implying a one-standard-deviation price range of $26.18 to $35.32 from the current $30.75. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.
What does the GUSH expected move mean for traders?: Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.
How is GUSH expected move calculated?: The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.