null Option on ProShares UltraShort
| SMN Etf | USD 13.53 0.09 0.66% |
ProShares UltraShort's latest option contracts expiring on October 17th 2025 are carrying combined implied volatility of 0.69 with a put-to-call open interest ratio of 0.24 over 21 outstanding agreements suggesting investors are buying way more calls than puts on contracts expiring on October 17th 2025.
Open Interest Against October 17th 2025 Option Contracts
2025-10-17
The chart above shows ProShares UltraShort's distribution of open interest by maturity on contracts that have not yet been settled. The area between the two highest points is the projection of the price at expiration. ProShares UltraShort's open interest chart also provides vital information regarding the liquidity of an option. If there is no open interest for ProShares UltraShort's option, there is no secondary market available for investors to trade.
In The Money vs. Out of Money Option Contracts on ProShares UltraShort
Analyzing ProShares UltraShort's in-the-money options over time can help investors to take a profitable long position in ProShares UltraShort regardless of its overall volatility. This is especially true when ProShares UltraShort's options are deep in the money. These options can be identified using deltas that are over 0.75. Deep in-the-money ProShares UltraShort's options could be used as guardians of the underlying stock as they move almost dollar for dollar with ProShares UltraShort's stock while costing only a fraction of its price.
Please note that buying 'in-the-money' options on ProShares UltraShort lessens the impact of time decay, as they carry both intrinsic and time value. So, even if ProShares UltraShort's value remains static through the expiration date, the investor can sell to close an 'in-the-money' option to avoid a potential loss. However, in-the-money ProShares UltraShort contracts are usually more expensive to enter than their out-of-the-money counterparts. So keep in mind that while the payoffs on an in-the-money trade can be high, the investors could ultimately experience a more consequential loss if ProShares Etf moves the wrong way.
ProShares Current Options Market Mood
ProShares UltraShort's open interest and total value indicators provide investors with the necessary information to digest the overall options buildup for its expiring contracts. In addition, it helps ProShares Etf's traders understand whether a recent fall or rise in the market is unreasonable and if the time has come to take contrarian positions. These ratios are calculated based on options trading volumes and current open interest.
Put-to-Call Open Interest
Put-to-Call Volume
Most options investors, including buyers and sellers of ProShares UltraShort's calls and puts, are not very successful. It is estimated that an average options trader loses somewhere between 80% to 90% of the time. ProShares UltraShort's option open interest and volume spread between outstanding puts and calls are regarded by many investors as reliable indicators of the overall future market direction.
Rule 16 of the current ProShares contract
Base on the Rule 16, the options market is currently suggesting that ProShares UltraShort Basic will have an average daily up or down price movement of about 0.0431% per day over the life of the 2025-10-17 option contract. With ProShares UltraShort trading at USD 13.53, that is roughly USD 0.005835. If you think that the market is fully incorporating ProShares UltraShort's daily price movement you should consider buying ProShares UltraShort Basic options at the current volatility level of 0.69%. But if you have an opposite viewpoint you should avoid it and even consider selling them.
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Purchasing ProShares UltraShort options can give investors a meaningful hedge against losses and, therefore, could be used conservatively to decrease the volatility of your portfolio. However, many options could also amount to little more than gambling, significantly enhancing your overall portfolio risk. One simple example of these aggressive strategies is the sale of "uncovered" ProShares calls. Remember, the seller must deliver ProShares UltraShort Basic stock to the call owner when a call is exercised.
ProShares UltraShort Option Chain
When ProShares UltraShort's strike price is surpassing the current stock price, the option contract against ProShares UltraShort Basic stock is said to be in the money. When it comes to buying options that are ITM or OTM, the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
ProShares UltraShort's option chain is a display of a range of information that helps investors for ways to trade options on ProShares. In general, an option chain provides a helpful tool for investors to see all available option contracts, both puts, and calls, for ProShares. It also shows strike prices and maturity days for a ProShares UltraShort against a given expiration period. The table below combines all the option information in the form of a chain but before you use it, remember that it entails significant risk and it is not for everyone. | Open Int | Strike Price | Current Spread | Last Price | |||
Call | SMN251017C00025000 | 0 | 25.0 | 0.0 - 1.0 | 1.0 | |
Call | SMN251017C00024000 | 1 | 24.0 | 0.0 - 1.0 | 0.4 | Out |
Call | SMN251017C00023000 | 0 | 23.0 | 0.0 - 1.0 | 1.0 | |
Call | SMN251017C00022000 | 0 | 22.0 | 0.0 - 1.0 | 1.0 | |
Call | SMN251017C00021000 | 0 | 21.0 | 0.0 - 1.05 | 1.05 | |
Call | SMN251017C00020000 | 0 | 20.0 | 0.0 - 1.05 | 1.05 | |
Call | SMN251017C00019000 | 0 | 19.0 | 0.0 - 1.1 | 1.1 | |
Call | SMN251017C00018000 | 0 | 18.0 | 0.0 - 1.15 | 1.15 | |
Call | SMN251017C00017000 | 0 | 17.0 | 0.0 - 1.2 | 1.2 | |
Call | SMN251017C00016000 | 0 | 16.0 | 0.0 - 0.55 | 0.55 | |
Call | SMN251017C00015000 | 20 | 15.0 | 0.0 - 1.45 | 0.64 | Out |
Put | SMN251017P00016000 | 5 | 16.0 | 2.45 - 3.7 | 2.45 | In |
Put | SMN251017P00017000 | 0 | 17.0 | 2.5 - 4.6 | 2.5 | In |
Put | SMN251017P00018000 | 0 | 18.0 | 3.5 - 5.5 | 3.5 | In |
Put | SMN251017P00019000 | 0 | 19.0 | 4.4 - 6.5 | 4.4 | In |
Put | SMN251017P00020000 | 0 | 20.0 | 5.3 - 7.4 | 5.3 | In |
Put | SMN251017P00021000 | 0 | 21.0 | 6.3 - 8.4 | 6.3 | In |
Put | SMN251017P00022000 | 0 | 22.0 | 7.2 - 9.4 | 7.2 | In |
Put | SMN251017P00023000 | 0 | 23.0 | 8.2 - 10.3 | 8.2 | In |
Put | SMN251017P00024000 | 0 | 24.0 | 9.2 - 11.3 | 9.2 | In |
Put | SMN251017P00025000 | 0 | 25.0 | 10.2 - 12.3 | 10.2 | In |
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort Basic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
The market value of ProShares UltraShort is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares UltraShort's value that differs from its market value or its book value, called intrinsic value, which is ProShares UltraShort's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ProShares UltraShort's market value can be influenced by many factors that don't directly affect ProShares UltraShort's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ProShares UltraShort's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares UltraShort is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares UltraShort's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.