Direxion Daily S&P Biotech Bear 3X ETF (LABD) Open Interest History

Open interest tracks the total number of outstanding options contracts. Rising OI alongside price moves can indicate growing commitment to the trend; declining OI suggests positions are being closed.

Direxion Daily S&P Biotech Bear 3X ETF (LABD) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $18.7M, listed on AMEX, carrying a beta of -3.18 to the broader market. The Direxion Daily S&P Biotech Bull and Bear 3X ETFs are designed to deliver daily investment returns reflecting triple (300%) the performance of the S&P Biotechnology Select Industry Index, or triple its inverse (opposite) performance, before factoring in any fees or expenses. public since 2015-05-28.

Snapshot as of Jun 30, 2026.

Spot Price

$7.69

Call OI

13.1K

Put OI

8.3K

Total OI

21.4K

Put/Call Ratio

0.41

As of Jun 30, 2026, Direxion Daily S&P Biotech Bear 3X ETF (LABD) has 21.4K total contracts outstanding across all expirations. Put/call OI ratio is 0.64 (call-heavy positioning). Open interest reflects accumulated positions from prior sessions; persistent growth indicates sustained directional or hedging interest, while sharp drops typically mean post-expiration clean-up.

How LABD open interest history Data Feeds Strategy Selection

Strategy selection on Direxion Daily S&P Biotech Bear 3X ETF options does not derive from any single metric in isolation. The open interest history view above sits inside a broader read: ATM IV currently sits at 89.5% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the open interest history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.

How to read the LABD open-interest data

The open-interest time-series above tracks the total Direxion Daily S&P Biotech Bear 3X ETF options inventory outstanding day by day. OI is a stock measure - the cumulative position count - so trends flag accumulating or distributing positioning. Current put/call ratio is 0.41, call-heavy - speculative or bullish positioning dominates. Total call OI of 13.1K versus put OI of 8.3K gives a put/call OI ratio of 0.64 - structurally a slower-moving signal than the volume-based ratio.

LABD flow vs positioning

Volume tells you what flows happened today; OI tells you what positions accumulated. Both can move in opposite directions: rising volume with falling OI means contracts are being closed (covering); rising volume with rising OI means new positions are being opened. The combination matters more than either alone for reading sentiment. Combined with the current positive dealer-gamma regime, large OI clusters tend to act as price magnets through expiration cycles.

Using LABD OI/volume data alongside other surfaces

Per-strike OI is the input to dealer-gamma calculations: strikes with elevated call OI generate gamma walls that dealers must hedge into as spot approaches them. The gamma-exposure page combines this distribution with the dealers' assumed-long-gamma assumption to project hedge flow. Volume cross-checks recent positioning shifts in the chain that haven't yet shown up in cumulative OI. Pair both with the term-structure view on the volatility page to determine whether the activity is concentrated in near-dated event hedging or longer-dated structural positioning. Front-month expiration for LABD sits at 31 days, so near-dated volume currently dominates the flow reading.

Learn how open interest is reported and how to read the data →

Daily open-interest history for LABD options over the last ~28 trading days. Each row reflects the end-of-day total OI summed across all listed strikes and expirations.

Most recent 15 trading days (descending). Older history appears in the chart above.

LABD highest open-interest contracts

Top 2 contracts from the institutional-grade nightly options scan; ranked by oi within the broader S&P 500/400/600 + ETF universe.

Frequently asked LABD open interest history questions

What is the current LABD options open interest?

As of Jun 30, 2026, Direxion Daily S&P Biotech Bear 3X ETF (LABD) has 21.4K total contracts outstanding across all listed expirations, split as 13.1K calls and 8.3K puts. Open interest reflects accumulated positions from prior trading sessions; it does not include today's volume until end-of-day reconciliation.

What is the LABD put/call open interest ratio?

Put/call OI ratio of 0.64 is call-heavy, often a directional bullish or upside-speculation signal.

What does LABD open interest tell traders?

Persistent OI growth indicates sustained directional or hedging interest; sharp drops typically mean post-expiration position cleanup. Heavy OI concentrations at specific strikes act as support and resistance levels because dealer hedging amplifies near those strikes - the gamma profile of the dealer book is concentrated there. Comparing today's volume to standing OI separates opening flow from closing flow.