ProShares - Ultra Materials (UYM) Volatility Skew
Implied volatility skew shows how IV varies across strike prices for a given expiration. Steeper skews indicate higher demand for downside protection relative to upside speculation.
ProShares - Ultra Materials (UYM) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $33.3M, listed on AMEX, carrying a beta of 1.60 to the broader market. ProShares Ultra Materials seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the S&P Materials Select SectorSM Index. public since 2007-02-01.
Snapshot as of May 15, 2026.
- Spot Price
- $29.32
- ATM IV
- 63.0%
- IV Skew 25Δ
- 0.019
- IV Rank
- 53.6%
- IV Percentile
- 92.9%
- Term Structure Slope
- -0.165
As of May 15, 2026, ProShares - Ultra Materials (UYM) at-the-money implied volatility is 63.0%. IV rank is 53.6% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 92.9%. The 25-delta skew is +0.019: skew is roughly flat across the 25-delta wings. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.
UYM Strategy Selection at Current Volatility Levels
For ProShares - Ultra Materials options at 63.0% ATM IV, mid-range IV rank (53.6%) is the regime where directional conviction matters more than vol-regime positioning; strategy choice should follow the event calendar and the dealer-positioning view rather than IV rank alone. Pair the vol-rank read with the dealer-gamma view and the upcoming-events calendar to confirm the strategy fits both the structural regime and the path-dependent risk. The variance risk premium - the persistent gap between implied and subsequently realized vol - is positive in equity markets on average; high IV rank typically reflects a stretch where the premium is wider than usual.
Learn how volatility skew is reported and how to read the data →
Frequently asked UYM volatility skew questions
- What is the current UYM ATM implied volatility?
- As of May 15, 2026, ProShares - Ultra Materials (UYM) at-the-money implied volatility is 63.0%. IV rank is 53.6% on a 0-100% scale anchored to the 1-year IV range. ATM IV is the volatility input that makes a Black-Scholes-equivalent model reproduce the listed at-the-money option prices.
- Is UYM IV high or low historically?
- IV is near its 1-year median, a regime where strategy choice depends on directional conviction and event calendar rather than vol regime.
- What does UYM volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. ProShares - Ultra Materials skew is roughly flat across the 25-delta wings. Skew matters for risk-defined strategy selection: when downside puts are rich, put-credit spreads capture more premium; when upside calls are rich, call-credit spreads or covered-call writes harvest more.