UDN ETF

Alerts for UDN

$18.28 -0.04 (-0.22%) At close · Sep 4

Options Chain

Underlying $18.28 · at close Sep 4, 2026 Options Calculator

Positioning

Sep 18, 2026 · 13 days to expiry · 46 contracts · mixed daily-bar sessions · Jan 30, 2026–Sep 4, 2026; 32 unknown

Put / call OI

0.00

Call-heavy positioning

Open interest

20,272

as of Sep 3, 2026

Volume

—

dated and unknown daily-bar sessions

Max pain

$17.00

$1.28 below spot

ATM implied vol

11.2%

market's expected move

Open interest by strike

Calls Puts

Chain

Click any strike for greeks, breakeven and the calculator

Expiry

Sep 18 13d Oct 16 41d Dec 18 104d Mar 19 195d

Calls								Puts
OI	Vol	IV	Δ	Bid	Ask	Last	Strike	Last	Bid	Ask	Δ	IV	Vol	OI
3	6	—	—	$8.20	$12.40	$10.52		—	$0.00	$0.95	—	—	—	—
Call · $8 In the money Daily-bar session Jan 30, 2026 Quote as of 2026-09-04 19:59:24.142 UTC Last $10.52 Breakeven $18.52 Implied vol — Delta — Gamma — Theta — Vega — Open interest 3 OI effective date Sep 3, 2026 Model this call Put · $8 Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.144 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	—	—	$7.20	$11.50	—		—	$0.00	$0.95	—	—	—	—
Call · $9 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.142 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $9 Daily-bar session Unknown Quote as of 2026-09-04 19:59:41.925 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	—	—	$6.20	$10.50	—		—	$0.00	$0.95	—	—	—	—
Call · $10 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.142 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $10 Daily-bar session Unknown Quote as of 2026-09-04 19:59:41.546 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	—	—	$5.20	$9.50	—		—	$0.00	$0.95	—	—	—	—
Call · $11 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.142 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $11 Daily-bar session Unknown Quote as of 2026-09-04 19:59:41.139 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	—	—	$4.20	$8.50	—		—	$0.00	$0.95	—	—	—	—
Call · $12 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.142 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $12 Daily-bar session Unknown Quote as of 2026-09-04 19:59:40.723 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	70.1%	0.996	$4.50	$6.10	—		—	$0.00	$0.95	—	—	—	—
Call · $13 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.142 UTC Last — Breakeven — Implied vol 70.1% Delta 0.996 ≈100% ITM Gamma 0.005 Theta -0.002 Vega 0 Open interest — OI effective date — Model this call Put · $13 Daily-bar session Unknown Quote as of 2026-09-04 19:59:40.243 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	85.5%	0.959	$3.00	$5.70	—		—	$0.00	$0.95	—	—	—	—
Call · $14 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.142 UTC Last — Breakeven — Implied vol 85.5% Delta 0.959 ≈96% ITM Gamma 0.03 Theta -0.011 Vega 0.003 Open interest — OI effective date — Model this call Put · $14 Daily-bar session Unknown Quote as of 2026-09-04 19:59:39.684 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
4	1	—	—	$2.00	$3.50	$2.95		—	$0.00	$0.95	—	—	—	—
Call · $15 In the money Daily-bar session Jul 29, 2026 Quote as of 2026-09-04 19:59:24.142 UTC Last $2.95 Breakeven $17.95 Implied vol — Delta — Gamma — Theta — Vega — Open interest 4 OI effective date Sep 3, 2026 Model this call Put · $15 Daily-bar session Unknown Quote as of 2026-09-04 19:59:39.138 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
4	1	58.1%	0.9	$1.00	$3.80	$2.20		—	$0.00	$0.95	—	—	—	—
Call · $16 In the money Daily-bar session Mar 30, 2026 Quote as of 2026-09-04 19:59:24.142 UTC Last $2.20 Breakeven $18.20 Implied vol 58.1% Delta 0.9 ≈90% ITM Gamma 0.088 Theta -0.015 Vega 0.006 Open interest 4 OI effective date Sep 3, 2026 Model this call Put · $16 Daily-bar session Unknown Quote as of 2026-09-04 19:59:38.583 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
189	2	25.5%	0.941	$0.95	$1.70	$1.35		—	$0.00	$0.75	—	—	—	—
Call · $17 In the money Daily-bar session Sep 3, 2026 Quote as of 2026-09-04 19:58:35.192 UTC Last $1.35 Breakeven $18.35 Implied vol 25.5% Delta 0.941 ≈94% ITM Gamma 0.134 Theta -0.006 Vega 0.004 Open interest 189 OI effective date Sep 3, 2026 Model this call Put · $17 Daily-bar session Unknown Quote as of 2026-09-04 19:59:33.531 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
905	66	11.2%	0.789	$0.25	$0.45	$0.30		$0.20	$0.00	$0.20	—	—	1	8
Call · $18 In the money Daily-bar session Sep 4, 2026 Quote as of 2026-09-04 19:59:59.928 UTC Last $0.30 Breakeven $18.30 Implied vol 11.2% Delta 0.789 ≈79% ITM Gamma 0.749 Theta -0.006 Vega 0.01 Open interest 905 OI effective date Sep 3, 2026 Model this call Put · $18 Daily-bar session Aug 26, 2026 Quote as of 2026-09-04 19:58:35.193 UTC Last $0.20 Breakeven $17.80 Implied vol — Delta — Gamma — Theta — Vega — Open interest 8 OI effective date Sep 3, 2026 Model this put
Underlying $18.28
11.4k	5	—	—	$0.00	$0.05	$0.05		$0.72	$0.35	$1.30	-0.759	27.1%	1	3
Call · $19 Daily-bar session Sep 3, 2026 Quote as of 2026-09-04 19:59:06.607 UTC Last $0.05 Breakeven $19.05 Implied vol — Delta — Gamma — Theta — Vega — Open interest 11.4k OI effective date Sep 3, 2026 Model this call Put · $19 In the money Daily-bar session Sep 3, 2026 Quote as of 2026-09-04 19:58:35.186 UTC Last $0.72 Breakeven $18.28 Implied vol 27.1% Delta -0.759 ≈76% ITM Gamma 0.333 Theta -0.01 Vega 0.011 Open interest 3 OI effective date Sep 3, 2026 Model this put
3.8k	1	—	—	$0.00	$0.05	$0.14		$1.75	$1.15	$2.30	-0.932	30.9%	10	—
Call · $20 Daily-bar session Jul 24, 2026 Quote as of 2026-09-04 19:55:01.360 UTC Last $0.14 Breakeven $20.14 Implied vol — Delta — Gamma — Theta — Vega — Open interest 3.8k OI effective date Sep 3, 2026 Model this call Put · $20 In the money Daily-bar session Apr 10, 2026 Quote as of 2026-09-04 19:59:33.763 UTC Last $1.75 Breakeven $18.25 Implied vol 30.9% Delta -0.932 ≈93% ITM Gamma 0.123 Theta -0.004 Vega 0.005 Open interest — OI effective date — Model this put
2.7k	5	—	—	$0.00	$0.05	$0.07		—	$1.40	$4.00	-0.982	34.1%	—	—
Call · $21 Daily-bar session Apr 17, 2026 Quote as of 2026-09-04 19:49:58.176 UTC Last $0.07 Breakeven $21.07 Implied vol — Delta — Gamma — Theta — Vega — Open interest 2.7k OI effective date Sep 3, 2026 Model this call Put · $21 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:34.058 UTC Last — Breakeven — Implied vol 34.1% Delta -0.982 ≈98% ITM Gamma 0.037 Theta 0 Vega 0.002 Open interest — OI effective date — Model this put
1.2k	100	—	—	$0.00	$0.95	$0.05		—	$2.90	$4.30	—	—	—	—
Call · $22 Daily-bar session Mar 6, 2026 Quote as of 2026-09-04 19:59:39.346 UTC Last $0.05 Breakeven $22.05 Implied vol — Delta — Gamma — Theta — Vega — Open interest 1.2k OI effective date Sep 3, 2026 Model this call Put · $22 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:34.352 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
1	1	—	—	$0.00	$0.95	$0.40		—	$4.10	$5.30	-0.985	54.7%	—	—
Call · $23 Daily-bar session Feb 10, 2026 Quote as of 2026-09-04 19:59:39.914 UTC Last $0.40 Breakeven $23.40 Implied vol — Delta — Gamma — Theta — Vega — Open interest 1 OI effective date Sep 3, 2026 Model this call Put · $23 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:34.564 UTC Last — Breakeven — Implied vol 54.7% Delta -0.985 ≈98% ITM Gamma 0.02 Theta -0.001 Vega 0.001 Open interest — OI effective date — Model this put
—	—	—	—	$0.00	$1.00	—		—	$4.40	$7.00	-0.985	64.2%	—	—
Call · $24 Daily-bar session Unknown Quote as of 2026-09-04 19:59:40.434 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $24 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:34.777 UTC Last — Breakeven — Implied vol 64.2% Delta -0.985 ≈99% ITM Gamma 0.017 Theta -0.001 Vega 0.001 Open interest — OI effective date — Model this put
1	1	—	—	$0.00	$1.00	$0.02		—	$4.60	$8.80	-0.985	73.4%	—	—
Call · $25 Daily-bar session Jul 31, 2026 Quote as of 2026-09-04 19:59:40.886 UTC Last $0.02 Breakeven $25.02 Implied vol — Delta — Gamma — Theta — Vega — Open interest 1 OI effective date Sep 3, 2026 Model this call Put · $25 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:44.615 UTC Last — Breakeven — Implied vol 73.4% Delta -0.985 ≈99% ITM Gamma 0.015 Theta -0.001 Vega 0.001 Open interest — OI effective date — Model this put
—	—	—	—	$0.00	$1.00	—		—	$5.60	$9.80	—	—	—	—
Call · $26 Daily-bar session Unknown Quote as of 2026-09-04 19:59:41.311 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $26 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:35.132 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	—	—	$0.00	$1.00	—		—	$6.60	$10.80	—	—	—	—
Call · $27 Daily-bar session Unknown Quote as of 2026-09-04 19:59:41.687 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $27 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.142 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	—	—	$0.00	$1.00	—		—	$7.60	$11.80	—	—	—	—
Call · $28 Daily-bar session Unknown Quote as of 2026-09-04 19:59:42.042 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $28 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:35.418 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	—	—	$0.00	$1.75	—		—	$9.60	$13.80	—	—	—	—
Call · $30 Daily-bar session Unknown Quote as of 2026-09-04 19:59:42.651 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $30 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:35.615 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put
—	—	—	—	$0.00	$0.95	—		—	$15.50	$17.90	—	—	—	—
Call · $35 Daily-bar session Unknown Quote as of 2026-09-04 19:59:43.722 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this call Put · $35 In the money Daily-bar session Unknown Quote as of 2026-09-04 19:59:24.142 UTC Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest — OI effective date — Model this put

About this data

Each contract's last price, day range and volume belong to the daily-bar session shown in its details; unknown means the source omitted that timestamp. Open interest has its own effective date shown separately; implied volatility and greeks are model values computed when fetched. This chain has mixed daily-bar sessions · Jan 30, 2026–Sep 4, 2026; 32 unknown. Positioning totals are shown only when every returned open-interest value has the same known effective date. Bid and ask are real-time consolidated OPRA readings.

In-the-money strikes are tinted, deepening toward the money, and the bar beside each open-interest figure scales to the heaviest strike shown. Max pain is the listed strike where the most open interest would expire worthless — a positioning reference, not a forecast.