ProShares - Ultra VIX Short-Term Futures ETF (UVXY) 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 - Ultra VIX Short-Term Futures ETF (UVXY) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $103.2M, listed on CBOE, carrying a beta of -3.30 to the broader market. The ProShares Ultra VIX Short-Term Futures ETF aims to deliver daily investment outcomes, prior to the deduction of fees and expenses, that are one-and-a-half times (1. public since 2011-10-04.
Snapshot as of Sep 30, 2026.
- Spot Price
- $17.09
- Total OI
- 231.1K
- Total Volume
- 37.5K
- Front Expiration
- 30 days
- Second Expiration
- 37 days
- ATM IV
- 82.5%
- Avg Bid/Ask Spread
- 27.97%
As of Sep 30, 2026, ProShares - Ultra VIX Short-Term Futures ETF (UVXY) has 231.1K open contracts and 37.5K contracts traded. The nearest expiration is 30 days out, followed by 37 days. ATM implied volatility is 82.5%. Average bid/ask spread across the chain is 27.97%: 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 UVXY options chain Data Feeds Strategy Selection
Strategy selection on ProShares - Ultra VIX Short-Term 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 82.5% 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 UVXY chain depth
The listed-expirations table above shows every expiration available for ProShares - Ultra VIX Short-Term 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. UVXY front expiration sits at 30 days - the typical hedging horizon for monthly options. The contango term-structure slope of 0.044 means longer-dated tenors price in proportionally more IV.
UVXY 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 UVXY chain is 27.97% - 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 UVXY 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. UVXY's current 23.65% 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 →
UVXY listed expirations
Per-expiration ATM implied volatility for UVXY 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 2, 2026 | 2 | 52.2% |
| Oct 9, 2026 | 9 | 56.2% |
| Oct 16, 2026 | 16 | 68.4% |
| Oct 23, 2026 | 23 | 75.7% |
| Oct 30, 2026 | 30 | 82.5% |
| Nov 6, 2026 | 37 | 86.9% |
| Nov 20, 2026 | 51 | 91.2% |
| Dec 18, 2026 | 79 | 98.2% |
| Jan 15, 2027 | 107 | 98.9% |
| Mar 19, 2027 | 170 | 105.8% |
| Jun 17, 2027 | 260 | 117.3% |
| Jan 21, 2028 | 478 | 119.5% |
| Jan 19, 2029 | 842 | 131.6% |
UVXY most-active contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $64.00 | Dec 18, 2026 | 0 | 800 | 175.9% | $0.10 | $1.05 |
| CALL | $70.00 | Dec 18, 2026 | 4 | 1.4K | 175.9% | $0.40 | $0.47 |
| CALL | $111.00 | Jan 15, 2027 | 6 | 1.1K | 174.5% | $0.31 | $0.48 |
| CALL | $110.00 | Jan 15, 2027 | 1 | 940 | 173.2% | $0.23 | $0.48 |
| CALL | $62.00 | Dec 18, 2026 | 0 | 153 | 172.2% | $0.15 | $1.17 |
| CALL | $59.00 | Dec 18, 2026 | 0 | 125 | 171.9% | $0.22 | $1.05 |
| CALL | $100.00 | Jan 15, 2027 | 4 | 941 | 171.7% | $0.25 | $0.62 |
| PUT | $100.00 | Jan 15, 2027 | 2 | 519 | 171.7% | $82.90 | $83.15 |
Top 8 contracts from the institutional-grade nightly options scan; ranked by volume within the broader S&P 500/400/600 + ETF universe.
Frequently asked UVXY options chain questions
- What does the UVXY options chain show right now?
- As of Sep 30, 2026, ProShares - Ultra VIX Short-Term Futures ETF (UVXY) has 231.1K contracts outstanding and 37.5K traded today, with ATM IV of 82.5%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
- What expirations are available for UVXY options?
- The nearest expiration is 30 days out, followed by 37 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
- How tight are UVXY options bid/ask spreads?
- Average bid/ask spread across the chain is 27.97%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.