UGA · United States Gasoline Fund, LP

Track UGA — free Ask ALVIS about UGA

$121.48 +3.18 (+2.69%) At close · Jul 29

Market Cap

$136.04M

1.15M

Options Chain

15-min delayed Underlying $121.48 · at close Jul 29, 2026 Options Calculator

Positioning

Aug 21, 2026 · 22 days to expiry · 74 contracts

Put / call OI

0.44

Call-heavy positioning

Open interest

1,385

contracts outstanding

Volume

358

traded today

Max pain

$110.00

$11.48 below spot

ATM implied vol

52.5%

market's expected move

Open interest by strike · near the money

Calls Puts

100

101

102

103

104

105

106

107

108

109

110

115

120

125

130

135

140

145

150

155

160

165

Chain

Click any strike for greeks, breakeven and the calculator

Expiry

Aug 21 22d Sep 18 50d Oct 16 78d Dec 18 141d Jan 15 169d Mar 19 232d

Calls						Puts
OI	Vol	IV	Δ	Last	Strike	Last	Δ	IV	Vol	OI
0	—	75.3%	0.999	—		—	-0.026	124.7%	—	0
Call · $70 In the money Last — Breakeven — Implied vol 75.3% Delta 0.999 ≈100% ITM Gamma 0 Theta -0.008 Vega 0.002 Open interest 0 Model this call Put · $70 Last — Breakeven — Implied vol 124.7% Delta -0.026 ≈3% ITM Gamma 0.002 Theta -0.05 Vega 0.023 Open interest 0 Model this put
0	—	0.2%	1	—		—	-0.029	110.8%	—	0
Call · $75 In the money Last — Breakeven — Implied vol 0.2% Delta 1 ≈100% ITM Gamma 0 Theta -0.007 Vega 0 Open interest 0 Model this call Put · $75 Last — Breakeven — Implied vol 110.8% Delta -0.029 ≈3% ITM Gamma 0.002 Theta -0.048 Vega 0.024 Open interest 0 Model this put
0	—	67.6%	0.995	—		$0.70	-0.032	97.8%	25	24
Call · $80 In the money Last — Breakeven — Implied vol 67.6% Delta 0.995 ≈100% ITM Gamma 0.001 Theta -0.014 Vega 0.005 Open interest 0 Model this call Put · $80 Last $0.70 Breakeven $79.30 Implied vol 97.8% Delta -0.032 ≈3% ITM Gamma 0.002 Theta -0.047 Vega 0.025 Open interest 24 Model this put
0	—	0.2%	1	—		—	-0.037	85.6%	—	0
Call · $85 In the money Last — Breakeven — Implied vol 0.2% Delta 1 ≈100% ITM Gamma 0 Theta -0.008 Vega 0 Open interest 0 Model this call Put · $85 Last — Breakeven — Implied vol 85.6% Delta -0.037 ≈4% ITM Gamma 0.003 Theta -0.045 Vega 0.025 Open interest 0 Model this put
0	—	56.8%	0.99	—		$1.70	-0.08	97.7%	1	1
Call · $89 In the money Last — Breakeven — Implied vol 56.8% Delta 0.99 ≈99% ITM Gamma 0.002 Theta -0.019 Vega 0.013 Open interest 0 Model this call Put · $89 Last $1.70 Breakeven $87.30 Implied vol 97.7% Delta -0.08 ≈8% ITM Gamma 0.005 Theta -0.096 Vega 0.045 Open interest 1 Model this put
0	—	58.6%	0.984	—		$0.33	-0.042	74.2%	1	16
Call · $90 In the money Last — Breakeven — Implied vol 58.6% Delta 0.984 ≈98% ITM Gamma 0.002 Theta -0.024 Vega 0.013 Open interest 0 Model this call Put · $90 Last $0.33 Breakeven $89.67 Implied vol 74.2% Delta -0.042 ≈4% ITM Gamma 0.004 Theta -0.044 Vega 0.026 Open interest 16 Model this put
0	—	56.6%	0.984	—		—	-0.04	70%	—	0
Call · $91 In the money Last — Breakeven — Implied vol 56.6% Delta 0.984 ≈98% ITM Gamma 0.002 Theta -0.024 Vega 0.013 Open interest 0 Model this call Put · $91 Last — Breakeven — Implied vol 70% Delta -0.04 ≈4% ITM Gamma 0.004 Theta -0.04 Vega 0.026 Open interest 0 Model this put
0	—	54.5%	0.984	—		$2.26	-0.045	69.8%	1	1
Call · $92 In the money Last — Breakeven — Implied vol 54.5% Delta 0.984 ≈98% ITM Gamma 0.002 Theta -0.024 Vega 0.013 Open interest 0 Model this call Put · $92 Last $2.26 Breakeven $89.74 Implied vol 69.8% Delta -0.045 ≈4% ITM Gamma 0.004 Theta -0.043 Vega 0.026 Open interest 1 Model this put
0	—	0.2%	1	—		—	-0.046	67.6%	—	0
Call · $93 In the money Last — Breakeven — Implied vol 0.2% Delta 1 ≈100% ITM Gamma 0 Theta -0.009 Vega 0 Open interest 0 Model this call Put · $93 Last — Breakeven — Implied vol 67.6% Delta -0.046 ≈5% ITM Gamma 0.005 Theta -0.043 Vega 0.027 Open interest 0 Model this put
0	—	50.5%	0.983	—		—	-0.048	65.5%	—	0
Call · $94 In the money Last — Breakeven — Implied vol 50.5% Delta 0.983 ≈98% ITM Gamma 0.003 Theta -0.023 Vega 0.013 Open interest 0 Model this call Put · $94 Last — Breakeven — Implied vol 65.5% Delta -0.048 ≈5% ITM Gamma 0.005 Theta -0.043 Vega 0.027 Open interest 0 Model this put
0	—	44.8%	0.99	—		$0.45	-0.058	67.6%	10	23
Call · $95 In the money Last — Breakeven — Implied vol 44.8% Delta 0.99 ≈99% ITM Gamma 0.002 Theta -0.017 Vega 0.013 Open interest 0 Model this call Put · $95 Last $0.45 Breakeven $94.55 Implied vol 67.6% Delta -0.058 ≈6% ITM Gamma 0.006 Theta -0.052 Vega 0.046 Open interest 23 Model this put
0	—	54.6%	0.965	—		—	-0.051	61.3%	—	0
Call · $96 In the money Last — Breakeven — Implied vol 54.6% Delta 0.965 ≈97% ITM Gamma 0.005 Theta -0.037 Vega 0.027 Open interest 0 Model this call Put · $96 Last — Breakeven — Implied vol 61.3% Delta -0.051 ≈5% ITM Gamma 0.006 Theta -0.042 Vega 0.027 Open interest 0 Model this put
0	—	54.4%	0.959	—		—	-0.056	61.1%	—	0
Call · $97 In the money Last — Breakeven — Implied vol 54.4% Delta 0.959 ≈96% ITM Gamma 0.005 Theta -0.041 Vega 0.027 Open interest 0 Model this call Put · $97 Last — Breakeven — Implied vol 61.1% Delta -0.056 ≈6% ITM Gamma 0.006 Theta -0.046 Vega 0.027 Open interest 0 Model this put
9	9	50.4%	0.963	$24.06		$0.35	-0.062	59.9%	1	10
Call · $98 In the money Last $24.06 Breakeven $122.06 Implied vol 50.4% Delta 0.963 ≈96% ITM Gamma 0.005 Theta -0.036 Vega 0.027 Open interest 9 Model this call Put · $98 Last $0.35 Breakeven $97.65 Implied vol 59.9% Delta -0.062 ≈6% ITM Gamma 0.007 Theta -0.048 Vega 0.047 Open interest 10 Model this put
0	—	56.8%	0.939	—		$0.38	-0.068	58.6%	28	24
Call · $99 In the money Last — Breakeven — Implied vol 56.8% Delta 0.939 ≈94% ITM Gamma 0.007 Theta -0.055 Vega 0.047 Open interest 0 Model this call Put · $99 Last $0.38 Breakeven $98.62 Implied vol 58.6% Delta -0.068 ≈7% ITM Gamma 0.007 Theta -0.051 Vega 0.047 Open interest 24 Model this put
64	10	53.4%	0.941	$23.20		$0.80	-0.11	69.9%	5	29
Call · $100 In the money Last $23.20 Breakeven $123.20 Implied vol 53.4% Delta 0.941 ≈94% ITM Gamma 0.007 Theta -0.052 Vega 0.047 Open interest 64 Model this call Put · $100 Last $0.80 Breakeven $99.20 Implied vol 69.9% Delta -0.11 ≈11% ITM Gamma 0.009 Theta -0.088 Vega 0.048 Open interest 29 Model this put
6	6	47.9%	0.949	$7.50		$0.89	-0.079	55.6%	2	4
Call · $101 In the money Last $7.50 Breakeven $108.50 Implied vol 47.9% Delta 0.949 ≈95% ITM Gamma 0.007 Theta -0.043 Vega 0.027 Open interest 6 Model this call Put · $101 Last $0.89 Breakeven $100.11 Implied vol 55.6% Delta -0.079 ≈8% ITM Gamma 0.009 Theta -0.053 Vega 0.048 Open interest 4 Model this put
2	1	54%	0.916	$5.50		$0.83	-0.131	68.4%	1	1
Call · $102 In the money Last $5.50 Breakeven $107.50 Implied vol 54% Delta 0.916 ≈92% ITM Gamma 0.009 Theta -0.065 Vega 0.048 Open interest 2 Model this call Put · $102 Last $0.83 Breakeven $101.17 Implied vol 68.4% Delta -0.131 ≈13% ITM Gamma 0.01 Theta -0.096 Vega 0.073 Open interest 1 Model this put
3	1	52.7%	0.909	$10.28		$1.08	-0.137	66%	1	1
Call · $103 In the money Last $10.28 Breakeven $113.28 Implied vol 52.7% Delta 0.909 ≈91% ITM Gamma 0.01 Theta -0.067 Vega 0.048 Open interest 3 Model this call Put · $103 Last $1.08 Breakeven $101.92 Implied vol 66% Delta -0.137 ≈14% ITM Gamma 0.011 Theta -0.095 Vega 0.073 Open interest 1 Model this put
3	2	53.5%	0.895	$10.06		$0.95	-0.113	56%	1	2
Call · $104 In the money Last $10.06 Breakeven $114.06 Implied vol 53.5% Delta 0.895 ≈89% ITM Gamma 0.011 Theta -0.075 Vega 0.049 Open interest 3 Model this call Put · $104 Last $0.95 Breakeven $103.05 Implied vol 56% Delta -0.113 ≈11% ITM Gamma 0.012 Theta -0.071 Vega 0.049 Open interest 2 Model this put
57	3	55.2%	0.875	$21.51		$0.97	-0.123	54.5%	41	39
Call · $105 In the money Last $21.51 Breakeven $126.51 Implied vol 55.2% Delta 0.875 ≈87% ITM Gamma 0.012 Theta -0.086 Vega 0.073 Open interest 57 Model this call Put · $105 Last $0.97 Breakeven $104.03 Implied vol 54.5% Delta -0.123 ≈12% ITM Gamma 0.012 Theta -0.073 Vega 0.073 Open interest 39 Model this put
1	1	51.2%	0.876	$8.60		$1.50	-0.178	65.7%	1	2
Call · $106 In the money Last $8.60 Breakeven $114.60 Implied vol 51.2% Delta 0.876 ≈88% ITM Gamma 0.013 Theta -0.08 Vega 0.074 Open interest 1 Model this call Put · $106 Last $1.50 Breakeven $104.50 Implied vol 65.7% Delta -0.178 ≈18% ITM Gamma 0.013 Theta -0.113 Vega 0.074 Open interest 2 Model this put
0	—	52.6%	0.852	—		$1.25	-0.152	53.7%	22	42
Call · $107 In the money Last — Breakeven — Implied vol 52.6% Delta 0.852 ≈85% ITM Gamma 0.014 Theta -0.09 Vega 0.074 Open interest 0 Model this call Put · $107 Last $1.25 Breakeven $105.75 Implied vol 53.7% Delta -0.152 ≈15% ITM Gamma 0.015 Theta -0.083 Vega 0.074 Open interest 42 Model this put
2	2	49.3%	0.849	$16.75		$3.00	-0.175	55.1%	11	11
Call · $108 In the money Last $16.75 Breakeven $124.75 Implied vol 49.3% Delta 0.849 ≈85% ITM Gamma 0.016 Theta -0.086 Vega 0.074 Open interest 2 Model this call Put · $108 Last $3.00 Breakeven $105.00 Implied vol 55.1% Delta -0.175 ≈17% ITM Gamma 0.016 Theta -0.093 Vega 0.075 Open interest 11 Model this put
10	9	49.4%	0.83	$14.65		$2.26	-0.182	52.5%	1	12
Call · $109 In the money Last $14.65 Breakeven $123.65 Implied vol 49.4% Delta 0.83 ≈83% ITM Gamma 0.017 Theta -0.092 Vega 0.075 Open interest 10 Model this call Put · $109 Last $2.26 Breakeven $106.74 Implied vol 52.5% Delta -0.182 ≈18% ITM Gamma 0.017 Theta -0.091 Vega 0.075 Open interest 12 Model this put
125	1	49.5%	0.812	$15.70		$2.50	-0.201	52.9%	2	73
Call · $110 In the money Last $15.70 Breakeven $125.70 Implied vol 49.5% Delta 0.812 ≈81% ITM Gamma 0.018 Theta -0.098 Vega 0.075 Open interest 125 Model this call Put · $110 Last $2.50 Breakeven $107.50 Implied vol 52.9% Delta -0.201 ≈20% ITM Gamma 0.018 Theta -0.098 Vega 0.076 Open interest 73 Model this put
84	2	53.1%	0.691	$9.26		$4.65	-0.304	50.5%	1	67
Call · $115 In the money Last $9.26 Breakeven $124.26 Implied vol 53.1% Delta 0.691 ≈69% ITM Gamma 0.022 Theta -0.134 Vega 0.102 Open interest 84 Model this call Put · $115 Last $4.65 Breakeven $110.35 Implied vol 50.5% Delta -0.304 ≈30% ITM Gamma 0.023 Theta -0.115 Vega 0.102 Open interest 67 Model this put
110	6	55.6%	0.569	$7.73		$6.00	-0.431	49.3%	67	26
Call · $120 In the money Last $7.73 Breakeven $127.73 Implied vol 55.6% Delta 0.569 ≈57% ITM Gamma 0.023 Theta -0.153 Vega 0.119 Open interest 110 Model this call Put · $120 Last $6.00 Breakeven $114.00 Implied vol 49.3% Delta -0.431 ≈43% ITM Gamma 0.027 Theta -0.125 Vega 0.119 Open interest 26 Model this put
Underlying $121.48
146	6	59.3%	0.46	$5.47		$10.00	-0.551	54.7%	1	1
Call · $125 Last $5.47 Breakeven $130.47 Implied vol 59.3% Delta 0.46 ≈46% ITM Gamma 0.022 Theta -0.162 Vega 0.122 Open interest 146 Model this call Put · $125 In the money Last $10.00 Breakeven $115.00 Implied vol 54.7% Delta -0.551 ≈55% ITM Gamma 0.024 Theta -0.138 Vega 0.122 Open interest 1 Model this put
79	7	56.2%	0.347	$4.36		$13.00	-0.662	54.5%	1	4
Call · $130 Last $4.36 Breakeven $134.36 Implied vol 56.2% Delta 0.347 ≈35% ITM Gamma 0.022 Theta -0.143 Vega 0.11 Open interest 79 Model this call Put · $130 In the money Last $13.00 Breakeven $117.00 Implied vol 54.5% Delta -0.662 ≈66% ITM Gamma 0.022 Theta -0.126 Vega 0.109 Open interest 4 Model this put
83	39	61.9%	0.277	$3.40		$17.20	-0.742	58.7%	2	10
Call · $135 Last $3.40 Breakeven $138.40 Implied vol 61.9% Delta 0.277 ≈28% ITM Gamma 0.018 Theta -0.143 Vega 0.112 Open interest 83 Model this call Put · $135 In the money Last $17.20 Breakeven $117.80 Implied vol 58.7% Delta -0.742 ≈74% ITM Gamma 0.019 Theta -0.12 Vega 0.109 Open interest 10 Model this put
50	6	61.7%	0.205	$2.65		—	-0.782	65.6%	—	0
Call · $140 Last $2.65 Breakeven $142.65 Implied vol 61.7% Delta 0.205 ≈21% ITM Gamma 0.015 Theta -0.119 Vega 0.087 Open interest 50 Model this call Put · $140 In the money Last — Breakeven — Implied vol 65.6% Delta -0.782 ≈78% ITM Gamma 0.015 Theta -0.121 Vega 0.087 Open interest 0 Model this put
82	5	65.3%	0.159	$2.00		$45.20	-0.827	69.1%	1	2
Call · $145 Last $2.00 Breakeven $147.00 Implied vol 65.3% Delta 0.159 ≈16% ITM Gamma 0.012 Theta -0.109 Vega 0.089 Open interest 82 Model this call Put · $145 In the money Last $45.20 Breakeven $99.80 Implied vol 69.1% Delta -0.827 ≈83% ITM Gamma 0.013 Theta -0.109 Vega 0.087 Open interest 2 Model this put
30	1	65.7%	0.118	$1.55		—	-0.873	69.4%	—	0
Call · $150 Last $1.55 Breakeven $151.55 Implied vol 65.7% Delta 0.118 ≈12% ITM Gamma 0.01 Theta -0.088 Vega 0.061 Open interest 30 Model this call Put · $150 In the money Last — Breakeven — Implied vol 69.4% Delta -0.873 ≈87% ITM Gamma 0.01 Theta -0.088 Vega 0.059 Open interest 0 Model this put
4	1	70.4%	0.099	$1.20		—	-0.917	68.1%	—	0
Call · $155 Last $1.20 Breakeven $156.20 Implied vol 70.4% Delta 0.099 ≈10% ITM Gamma 0.008 Theta -0.083 Vega 0.062 Open interest 4 Model this call Put · $155 In the money Last — Breakeven — Implied vol 68.1% Delta -0.917 ≈92% ITM Gamma 0.008 Theta -0.061 Vega 0.057 Open interest 0 Model this put
9	11	70.1%	0.07	$1.30		—	-0.909	78.6%	—	0
Call · $160 Last $1.30 Breakeven $161.30 Implied vol 70.1% Delta 0.07 ≈7% ITM Gamma 0.006 Theta -0.063 Vega 0.036 Open interest 9 Model this call Put · $160 In the money Last — Breakeven — Implied vol 78.6% Delta -0.909 ≈91% ITM Gamma 0.007 Theta -0.077 Vega 0.059 Open interest 0 Model this put
1	1	77.2%	0.069	$1.52		—	-0.953	72%	—	0
Call · $165 Last $1.52 Breakeven $166.52 Implied vol 77.2% Delta 0.069 ≈7% ITM Gamma 0.006 Theta -0.069 Vega 0.037 Open interest 1 Model this call Put · $165 In the money Last — Breakeven — Implied vol 72% Delta -0.953 ≈95% ITM Gamma 0.005 Theta -0.04 Vega 0.033 Open interest 0 Model this put

About this data

Greeks, implied volatility, open interest and the last price come from the latest daily snapshot and are 15-minute delayed. Bid and ask are not included on this plan.

In-the-money strikes are tinted, deepening toward the money, and the bar beside each open-interest figure scales to the heaviest strike shown. The 22 strikes around the money are shown by default — switch to "All 37" for the wings. Max pain is the listed strike where the most open interest would expire worthless — a positioning reference, not a forecast.

Key facts CIK 1396878 CUSIP 91201T102 13F (30d) 13 filings 13 filers Visit website