ProShares - UltraShort Health Care (RXD) Gamma Exposure (GEX) & Greeks
Gamma exposure (GEX) analysis shows how options positioning creates dealer hedging pressure across strikes. Includes delta, vanna, charm, vomma, and vega exposure by strike price.
ProShares - UltraShort Health Care (RXD) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $1.2M, listed on AMEX, carrying a beta of -1.04 to the broader market. ProShares UltraShort Health Care seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the S&P Health Care Select SectorSM Index. public since 2007-02-01.
Snapshot as of May 15, 2026.
- Spot Price
- $10.36
- Net Gamma
- $19
- Net Delta
- -$5.3K
- Net Vega
- -$7
- Gamma Concentration
- 0.70
As of May 15, 2026, ProShares - UltraShort Health Care (RXD) has positive net gamma exposure of $19 under the standard dealer-hedging convention. Net delta exposure is -$5.3K. Positive GEX means dealers are net long gamma: they buy into dips and sell into rallies, damping realized volatility and often causing price to pin near heavy open-interest strikes.
RXD Strategy Sizing in the Current GEX Regime
ProShares - UltraShort Health Care is in a positive dealer-gamma regime ($19). Net dealer delta of -$5.3K sets the size of the directional hedging flow that fires as spot moves. In this regime, mean-reverting strategies fit the regime: credit spreads, iron condors, covered calls near established ranges. Realized volatility tends to undershoot implied during positive-gamma stretches, supporting the short-vol structures. The gamma-flip level - the spot price at which net dealer gamma changes sign - is the most actionable anchor for sizing: through-flip moves trigger qualitatively different hedging behavior than within-regime moves, so risk-defined structures sized to the current spot may not stay sized correctly if a flip is near.
Learn how gamma exposure is reported and how to read the data →
Frequently asked RXD gamma exposure (gex) & greeks questions
- What is the current RXD gamma exposure (GEX)?
- As of May 15, 2026, ProShares - UltraShort Health Care (RXD) net gamma exposure is positive at $19 under the standard dealer-hedging convention. Net dealer delta exposure is -$5.3K. GEX aggregates the gamma sitting on dealer books across all listed strikes and expirations.
- Is RXD in positive or negative dealer gamma right now?
- RXD is currently in positive dealer gamma. Dealers net long gamma buy underlying weakness and sell into rallies to maintain delta-neutrality, which dampens realized volatility and tends to pin price near heavy open-interest strikes.
- What does RXD GEX tell options traders?
- GEX is a regime indicator: positive-gamma regimes favor mean-reverting strategies (premium-selling near established ranges); negative-gamma regimes favor momentum and breakout strategies. The same options-strategy structure can be appropriate or inappropriate depending on the dealer-gamma regime, so reading the sign and magnitude of net GEX before sizing positions is standard practice.