ProShares - UltraShort Technology (REW) 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.
ProShares - UltraShort Technology (REW) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $3.4M, listed on AMEX, carrying a beta of -2.64 to the broader market. This ProShares UltraShort Technology fund endeavors to achieve daily investment outcomes that inversely track, at a two-to-one (2x) ratio, the day-to-day fluctuations of the S&P Technology Select Sector Index. public since 2007-02-02.
Snapshot as of Sep 30, 2026.
- Spot Price
- $10.23
- Total OI
- 542
- Total Volume
- 1
- Front Expiration
- 16 days
- Second Expiration
- 51 days
- ATM IV
- 39.9%
- Avg Bid/Ask Spread
- 37.42%
As of Sep 30, 2026, ProShares - UltraShort Technology (REW) has 542 open contracts and 1 contracts traded. The nearest expiration is 16 days out, followed by 51 days. ATM implied volatility is 39.9%. Average bid/ask spread across the chain is 37.42%: 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 REW options chain Data Feeds Strategy Selection
Strategy selection on ProShares - UltraShort Technology 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 39.9% 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 REW chain depth
The listed-expirations table above shows every expiration available for ProShares - UltraShort Technology 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. REW front expiration sits at 16 days - the typical hedging horizon for monthly options. The backwardated slope of -0.098 means near-dated IV is pricing acute event risk.
REW 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 REW chain is 37.42% - 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 REW 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. REW's current 11.44% 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 →
REW listed expirations
Per-expiration ATM implied volatility for REW 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 | 16 | 39.9% |
| Nov 20, 2026 | 51 | 30.1% |
| Dec 18, 2026 | 79 | 35.6% |
| Mar 19, 2027 | 170 | 52.9% |
Frequently asked REW options chain questions
- What does the REW options chain show right now?
- As of Sep 30, 2026, ProShares - UltraShort Technology (REW) has 542 contracts outstanding and 1 traded today, with ATM IV of 39.9%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
- What expirations are available for REW options?
- The nearest expiration is 16 days out, followed by 51 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
- How tight are REW options bid/ask spreads?
- Average bid/ask spread across the chain is 37.42%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.