Invesco DB US Dollar Index Bearish Fund (UDN) Greeks History

Greeks history tracks how Delta, Gamma, Theta, and Vega have evolved over time for a given expiration or position. Trends in Greeks can reveal shifting risk profiles and market dynamics.

Invesco DB US Dollar Index Bearish Fund (UDN) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $135.7M, listed on AMEX, carrying a beta of 0.22 to the broader market. The Invesco DB US Dollar Index Bearish (Fund) seeks to track changes, whether positive or negative, in the level of the Deutsche Bank Short USD Currency Portfolio Index - Excess Return (DB Short USD Currency Portfolio Index ER or Index) plus the interest income from the Fund's holdings of primarily US Treasury securities and money market income less the Fund's expenses. public since 2007-03-01.

Snapshot as of May 29, 2026.

Spot Price

$18.25

Net Gamma

$2.4M

Net Delta

-$9.6M

Net Vega

-$60.3K

Term Structure Slope

-0.07

As of May 29, 2026, Invesco DB US Dollar Index Bearish Fund (UDN) snapshot Greeks are net delta -$9.6M, net gamma $2.4M, net vega -$60.3K. Term structure slope is -0.068, indicating backwardation (front-month IV above back-month, usually stress or event-driven). Historical aggregate Greeks let traders see how dealer positioning has shifted across regime changes. Large swings in net gamma or net vega often precede volatility expansion.

How UDN greeks history Data Feeds Strategy Selection

Strategy selection on Invesco DB US Dollar Index Bearish Fund options does not derive from any single metric in isolation. The greeks history view above sits inside a broader read: ATM IV currently sits at 7.8% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the greeks 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 UDN Greeks profile

The chart above tracks net dealer Greeks day by day so you can see how the aggregate book has moved over recent weeks. Current net dealer gamma is $2.4M - a positive (mean-reverting) hedging regime. Net dealer delta of -$9.6M indicates short-delta dealer book - dealers are net short the underlying. Net vega of -$60.3K measures dealer P&L sensitivity to IV shifts - a 1-point IV move shifts book value by approximately $60.3K.

UDN Greeks regime and dealer hedging

Aggregate dealer Greeks compress 4 sensitivities (delta, gamma, theta, vega) into a single read on hedging behavior. In the current positive-gamma regime, dealer hedging is structurally mean-reverting: as UDN moves higher, dealers sell into rallies; as it moves lower, dealers buy into dips. This is the mechanical basis for the "pin to max pain" pattern. Gamma decays as expiration approaches; near-dated Greek exposures dominate the hedging flow.

Using UDN Greeks data for strategy selection

The Greeks profile is the input to most quantitative options strategies. Premium-selling structures (covered calls, iron condors, cash-secured puts) are negative-gamma, positive-theta, negative-vega - they pay you for being patient about realized volatility but get hit when realized exceeds implied. Premium-buying structures (long calls, long puts, long straddles, ratio backspreads) are positive-gamma, negative-theta, positive-vega - they pay you when realized exceeds implied but bleed time decay otherwise. With UDN IV rank at 1.4%, premium-buying has structural tailwind from cheap implied; pair with a directional thesis or event catalyst. Combine the regime read with the Greeks decomposition on this page to size structures correctly.

Learn how options Greeks is reported and how to read the data →

Daily aggregate net dealer Greeks for UDN over the last ~41 trading days. Net GEX flips between positive (mean-reverting hedging regime) and negative (momentum-amplifying regime); DEX tracks directional hedging size; Vex tracks vol-of-vol exposure.

Most recent 15 trading days (descending). Older history appears in the chart above.

Frequently asked UDN greeks history questions

What are the UDN aggregate Greek exposures?

As of May 29, 2026, Invesco DB US Dollar Index Bearish Fund (UDN) snapshot Greeks are net delta -$9.6M, net gamma $2.4M, net vega -$60.3K. These aggregate the dealer book across all listed strikes and expirations under the standard customer-versus-dealer sign convention.

What does the UDN net dealer delta tell us?

Net dealer delta of -$9.6M represents the directional exposure dealers carry from their option inventory. Dealers continuously hedge this exposure with stock, futures, or correlated instruments, so the size of net delta is also the size of hedge flow that will execute as spot moves.

How do UDN Greeks inform hedging?

Delta tracks first-order directional exposure; gamma tracks how quickly delta changes; vega tracks IV sensitivity. Aggregated dealer Greeks let traders read the dealer-positioning regime: long-gamma regimes mean-revert moves; short-gamma regimes amplify them. Vega exposure indicates how dealer P&L responds to vol shocks and hence the direction of vol-shock hedging flows.