Direxion Daily Pharmaceutical & Medical Bull 3X ETF (PILL) 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 Pharmaceutical & Medical Bull 3X ETF (PILL) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $32.9M, listed on AMEX, employing roughly 39 people, carrying a beta of 1.76 to the broader market. PILL seeks to deliver investment results of 3x the daily performance of the S&P Pharmaceuticals Select Industry Index, a modified equal-weighted index that measures the performance of pharmaceutical companies, as defined by GICS, on the S&P Total Market Index. Led by Michael Davidson, public since 2017-11-15.
Snapshot as of Sep 30, 2026.
- Spot Price
- $16.02
- Call OI
- 120
- Put OI
- 61
- Total OI
- 181
- Put/Call Ratio
- 0.50
As of Sep 30, 2026, Direxion Daily Pharmaceutical & Medical Bull 3X ETF (PILL) has 181 total contracts outstanding across all expirations. Put/call OI ratio is 0.51 (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 PILL open interest history Data Feeds Strategy Selection
Strategy selection on Direxion Daily Pharmaceutical & Medical Bull 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 73.9% 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 PILL open-interest data
The open-interest time-series above tracks the total Direxion Daily Pharmaceutical & Medical Bull 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 0.50, call-heavy - speculative or bullish positioning dominates. Total call OI of 120 versus put OI of 61 gives a put/call OI ratio of 0.51 - structurally a slower-moving signal than the volume-based ratio.
PILL 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 PILL 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 PILL sits at 16 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 PILL options over the last ~42 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.
| Date | Call OI | Put OI | Total OI | P/C OI |
|---|---|---|---|---|
| Sep 30, 2026 | 120 | 61 | 181 | 0.51 |
| Sep 29, 2026 | 119 | 60 | 179 | 0.50 |
| Sep 28, 2026 | 119 | 60 | 179 | 0.50 |
| Sep 25, 2026 | 122 | 60 | 182 | 0.49 |
| Sep 24, 2026 | 118 | 60 | 178 | 0.51 |
| Sep 23, 2026 | 100 | 46 | 146 | 0.46 |
| Sep 22, 2026 | 87 | 38 | 125 | 0.44 |
| Sep 21, 2026 | 85 | 36 | 121 | 0.42 |
| Sep 18, 2026 | 126 | 127 | 253 | 1.01 |
| Sep 17, 2026 | 126 | 128 | 254 | 1.02 |
| Sep 16, 2026 | 125 | 128 | 253 | 1.02 |
| Sep 15, 2026 | 115 | 98 | 213 | 0.85 |
| Sep 14, 2026 | 115 | 98 | 213 | 0.85 |
| Sep 11, 2026 | 110 | 79 | 189 | 0.72 |
| Sep 10, 2026 | 114 | 77 | 191 | 0.68 |
Frequently asked PILL open interest history questions
- What is the current PILL options open interest?
- As of Sep 30, 2026, Direxion Daily Pharmaceutical & Medical Bull 3X ETF (PILL) has 181 total contracts outstanding across all listed expirations, split as 120 calls and 61 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 PILL put/call open interest ratio?
- Put/call OI ratio of 0.51 is call-heavy, often a directional bullish or upside-speculation signal.
- What does PILL 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.