Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) Options Chain
The options chain displays all available contracts with end-of-day quotes, Greeks, volume, and open interest for each strike and expiration, and streams live quotes for traders who connect a broker. It is the primary tool for options trade selection.
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $6.07B, listed on NASDAQ, employing roughly 8,700 people, carrying a beta of 1.06 to the broader market. Invesco Actively Managed Exchange-Traded Commodity Fund Trust- Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF is an exchange traded fund launched and managed by Invesco Capital Management LLC. Led by Andrew Schlossberg, public since 2014-11-07.
Snapshot as of Oct 13, 2026.
- Spot Price
- $19.96
- Total OI
- 19.6K
- Total Volume
- 133
- Front Expiration
- 38 days
- Second Expiration
- 66 days
- ATM IV
- 38.5%
- Avg Bid/Ask Spread
- 74.89%
As of Oct 13, 2026, Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has 19.6K open contracts and 133 contracts traded. The nearest expiration is 38 days out, followed by 66 days. ATM implied volatility is 38.5%. Average bid/ask spread across the chain is 74.89%: wider spreads, size positions conservatively. The options chain aggregates every listed strike and expiration, letting traders evaluate skew, term structure, and liquidity in a single view.
How PDBC options chain Data Feeds Strategy Selection
Strategy selection on Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF options does not derive from any single metric in isolation. The options chain view above sits inside a broader read: ATM IV currently sits at 38.5% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the options chain 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 PDBC chain depth
The listed-expirations table below shows every expiration available for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF options with its days-to-expiration count and ATM implied volatility. Front-month expirations carry the most volume, the highest gamma, and the tightest bid-ask spreads; longer-dated tenors carry less liquidity but more vega exposure. PDBC front expiration sits at 38 days - the typical hedging horizon for monthly options. The backwardated slope of -0.105 means near-dated IV is pricing acute event risk.
PDBC chain mechanics and execution
Options are listed at standardized strike intervals (typically $1 for sub-$25 underlyings, $2.50-$5 for mid-cap, $10-$50 for large-cap), and the deltas of each listed strike are determined by where IV lies relative to the strike's moneyness. Average bid/ask spread on the PDBC chain is 74.89% - a measure of liquidity. Tighter spreads on liquid strikes mean lower transaction costs; wider spreads on long-dated or far-OTM strikes mean execution drag can dominate the math. The chain table on the SPA side shows the full per-strike, per-expiration grid; this SSR page summarizes the listed expirations and the front-month context to anchor the structural read.
Using the PDBC chain to build structures
Strategy selection starts with the chain: directional theses use single-leg calls or puts, range-bound theses use credit spreads or iron condors, vol theses use straddles or strangles, calendar theses use diagonal spreads. PDBC's current 11.04% expected move anchors wing placement - structures with wings at the implied band collect the modal-outcome premium under lognormal assumptions. Cross-reference with the gamma-exposure profile to understand where dealer hedging will reinforce or fight your position, and with the volatility-skew chart to confirm the strikes you're trading sit at the IV levels your strategy assumes.
Learn how the options chain is reported and how to read the data →
PDBC listed expirations
Per-expiration ATM implied volatility for PDBC options. Each row is one listed expiration with its days-to-expiration count and ATM IV pulled from the same term-structure feed that powers the SPA's expiration filter. Front-month expirations carry the highest gamma, the tightest bid-ask spreads, and the most volume; longer-dated tenors carry less liquidity but more vega.
| Expiration | DTE | ATM IV |
|---|---|---|
| Oct 16, 2026 | 3 | 38.5% |
| Nov 20, 2026 | 38 | 28.9% |
| Dec 18, 2026 | 66 | 18.4% |
| Jan 15, 2027 | 94 | 61.6% |
| Mar 19, 2027 | 157 | 99.1% |
PDBC most-active contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $21.00 | Nov 20, 2026 | 95 | 441 | 742.1% | $0.10 | $0.30 |
| CALL | $20.00 | Oct 16, 2026 | 0 | 2.3K | 599.7% | $0.05 | $0.25 |
Top 2 contracts from the institutional-grade nightly options scan; ranked by volume within the broader S&P 500/400/600 + ETF universe.
Frequently asked PDBC options chain questions
- What does the PDBC options chain show right now?
- As of Oct 13, 2026, Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has 19.6K contracts outstanding and 133 traded today, with ATM IV of 38.5%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
- What expirations are available for PDBC options?
- The nearest expiration is 38 days out, followed by 66 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
- How tight are PDBC options bid/ask spreads?
- Average bid/ask spread across the chain is 74.89%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.