-1x Short VIX Futures ETF (SVIX) 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.
-1x Short VIX Futures ETF (SVIX) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $223.3M, listed on CBOE, carrying a beta of 2.95 to the broader market. This index tracks the inverse daily returns generated by a basket of VIX futures, comprising those set to expire in the nearest two months. public since 2022-03-30.
Snapshot as of Aug 14, 2026.
- Spot Price
- $26.49
- Total OI
- 94.4K
- Total Volume
- 6.4K
- Front Expiration
- 28 days
- Second Expiration
- 35 days
- ATM IV
- 41.5%
- Avg Bid/Ask Spread
- 28.01%
As of Aug 14, 2026, -1x Short VIX Futures ETF (SVIX) has 94.4K open contracts and 6.4K contracts traded. The nearest expiration is 28 days out, followed by 35 days. ATM implied volatility is 41.5%. Average bid/ask spread across the chain is 28.01%: 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 SVIX options chain Data Feeds Strategy Selection
Strategy selection on -1x Short VIX Futures 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 41.5% 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 SVIX chain depth
The listed-expirations table above shows every expiration available for -1x Short VIX Futures 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. SVIX front expiration sits at 28 days - the typical hedging horizon for monthly options. The contango term-structure slope of 0.062 means longer-dated tenors price in proportionally more IV.
SVIX 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 SVIX chain is 28.01% - 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 SVIX 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. SVIX's current 11.89% 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 →
SVIX listed expirations
Per-expiration ATM implied volatility for SVIX 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 |
|---|---|---|
| Aug 21, 2026 | 7 | 31.6% |
| Aug 28, 2026 | 14 | 35.7% |
| Sep 4, 2026 | 21 | 37.4% |
| Sep 11, 2026 | 28 | 39.3% |
| Sep 18, 2026 | 35 | 45.5% |
| Sep 25, 2026 | 42 | 47.7% |
| Oct 2, 2026 | 49 | 50.6% |
| Dec 18, 2026 | 126 | 60.8% |
| Jan 15, 2027 | 154 | 64.6% |
| Mar 19, 2027 | 217 | 68.1% |
| Jun 17, 2027 | 307 | 71.4% |
| Jan 21, 2028 | 525 | 74.1% |
| Jun 16, 2028 | 672 | 75.4% |
| Dec 15, 2028 | 854 | 77.4% |
Frequently asked SVIX options chain questions
- What does the SVIX options chain show right now?
- As of Aug 14, 2026, -1x Short VIX Futures ETF (SVIX) has 94.4K contracts outstanding and 6.4K traded today, with ATM IV of 41.5%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
- What expirations are available for SVIX options?
- The nearest expiration is 28 days out, followed by 35 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
- How tight are SVIX options bid/ask spreads?
- Average bid/ask spread across the chain is 28.01%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.