Zacks Investment ResearchT3·3d ago
VIXY ProShares VIX Short-Term Futures ETF
ETF 18.21 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
VIXY
$18.21
—
Key stats
$18.21
- 52-Week Range
- $15.88 – $39.33
- YTD
- -27.77%
- IV Rank (30D)
- 45.79
- Straddle Price
- $3.77
- P/C Vol Ratio
- 1.32
- Open
- $19.89
- Day Range
- $17.95 – $20.00
- Volume
- 4,057,851
- Prev Close
- $21.03
About
ProShares VIX Short-Term Futures ETF (VIXY) ETF
No description available.
- Exchange
- BATS
- Inception
- 2011-01-03
- Has Options
- Yes
Fund profile
holdings as of Nov 6, 2026issuer data
- Expense ratio
- —
- Assets
- $210M shares × price, Nov 6, 2026
- Trailing yield
- —
- Average daily volume
- $78M 30 sessions
- Holdings
- 4 top 10 are 99.9%
- Listed
- Jan 3, 2011 Cboe BZX
Costn/a
Liquidity96
Scale49
Diversificationn/a
Moves with. US large-cap stocks (71% of its variance, beta -3.90); High yield over Treasuries (10% of its variance, beta -3.59). These factors explain 74% of its daily moves over the last year.
Fund flows
No monthly flow reports are on file for this fund yet. New funds appear after their first quarterly filing; funds organised as unit investment trusts do not file them.
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| UVXYProShares Ultra VIX Short-Term Futures ETF | — | — | $222M | −55.8% | compare |
| UVIX2x Long VIX Futures ETF | — | — | $207M | −73.3% | compare |
| SVXYProShares Short VIX Short-Term Futures ETF | — | — | $184M | +9.9% | compare |
| SVIX-1x Short VIX Futures ETF | — | — | $106M | +1.8% | compare |
| VIXMProShares VIX Mid-Term Futures ETF | — | — | $42M | −15.1% | compare |
The largest other funds in the Volatility category.
ETF Profile
holdings as of 2026-11-06
Holdings
4
AUM
$382.7M
Provider
ProShares
Inception
2011-01-03
Exchange
BATS
Data As Of
2026-11-06
Expense Ratio
—
Dividend Yield
—
Distribution
—
Asset Allocation
Top Holdings
top 4 of 4 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | Net Other Assets (Liabilities) | 63.39% | Cash/Money Market | — |
| — | CBOE VIX FUTURE Dec26 | 63.36% | Derivative | — |
| — | PROSHARES GENIUS MNY MKT ETF | 36.61% | Cash/Money Market | — |
| — | CBOE VIX FUTURE Nov26 | 36.53% | Derivative | — |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 14.95% | 19.56% | -19.24% | -2.77% | -5.64% | 5.95% | 2.14% |
| Feb | -19.89% | 21.37% | 5.55% | -9.71% | 1.27% | 10.21% | 1.47% |
| Mar | -22.41% | -23.85% | -3.52% | -4.14% | 3.74% | 21.72% | -4.74% |
| Apr | -9.16% | 28.94% | -13.96% | 3.91% | 25.45% | -18.92% | 2.71% |
| May | -10.48% | -14.05% | -7.82% | -15.70% | -15.16% | -15.09% | -13.05% |
| Jun | -17.17% | 5.07% | -23.44% | -4.66% | -9.85% | -10.73% | -10.13% |
| Jul | 4.29% | -18.11% | -8.44% | 9.94% | -11.37% | -3.91% | -4.60% |
| Aug | -18.81% | -3.19% | -6.31% | -11.86% | -21.22% | -15.09% | -12.75% |
| Sep | 12.26% | 18.09% | 9.80% | -7.41% | -11.14% | -4.83% | 2.79% |
| Oct | -20.25% | -12.39% | 0.17% | 8.25% | 2.90% | 7.79% | -2.26% |
| Nov | 20.00% | -14.77% | -22.95% | -25.28% | -4.71% | -1.19%* | -8.15% |
| Dec | -31.94% | -4.05% | -9.56% | 7.32% | -17.69% | -- | -11.18% |
| Total | -70.20% | -13.70% | -67.17% | -45.26% | -52.37% | -27.76% | -46.08% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $17.66
SMA 50: $17.24
SMA 200: $23.48
Current: $18.21
EMA 12: $18.40
EMA 26: $17.82
MACD: 0.5782 | Signal: 0.2614
BULLISH
ADX (14): 25.34
TREND
+DI: 35.75
−DI: 22.91
Momentum Oscillators
RSI (14): 51.69
NEUTRAL
Stoch %K: 75.57
Stoch %D: 65.66
Williams %R: -62.20
Volume & Volatility
BB Upper: $20.37
BB Lower: $14.96
NEUTRAL
OBV: 31,253,720
Vol SMA 20: 5,703,601
Vol ROC: 50.78%
ATR: $1.41
True Range: $3.08
HV 20: 127.6%
HV 30: 104.6%
HV 60: 76.9%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-11T00:00:00 – 2026-11-09T00:00:00
AI Analysis
LLM Stock Analysis Report: VIXY
Executive Summary
Overall assessment: BEARISH (Confidence level: 6/10)
Key drivers:
- Negative beta (-3.56) indicating a move opposite to the market
- Bearish MACD signal and histogram, suggesting a continuation of the downtrend
- Volatility indicators are flashing high risk, with IV rank at 23.7% (low) and current IV at 96.1%
Primary risks:
- High volatility and implied volatility premium vs historical volatility, indicating potential for significant moves
- Negative news sentiment and bearish market narrative
Investment thesis: VIXY is likely to continue its downtrend, driven by negative beta and bearish technical indicators. However, high volatility and implied volatility premium suggest a potential for significant moves.
Recent news sentiment impact: The recent news headlines are neutral, with no clear positive or negative bias. The market narrative is bearish, aligning with the technical signals.
Technical Analysis
Trend Direction: Short-term (1-4 weeks) - Downtrend; Medium-term (1-3 months) - Downtrend; Long-term (3-12 months) - Range-bound
Support/Resistance Levels:
- Lower Bollinger Band: $18.34
- Middle Line (SMA 20): $20.48
- Upper Bollinger Band: $22.62
Momentum Signals: RSI interpretation: Neutral (33.13) - no clear buy or sell signal MACD signal: Bearish, with histogram at -0.62 Bollinger Bands position: Squeeze, indicating a potential breakout
Volume Analysis: Volume is declining, with On-Balance Volume (OBV) negative and Volume Rate of Change (VRC) at -18.15%. This suggests low institutional interest and a potential for further downside.
News & Sentiment Analysis
Recent Headlines Summary: Neutral news headlines from reputable sources, with no clear positive or negative bias.
Sentiment Assessment: Neutral sentiment overall, with no strong catalysts or events driving the market.
Catalyst Identification: None identified in recent news headlines.
Market Narrative: Bearish narrative aligning with technical signals and high volatility.
Risk & Volatility Assessment
Beta Interpretation: Stock moves opposite to the market (beta: -3.56), indicating high risk.
Volatility Regime: High volatility regime, with IV rank at 23.7% (low) and current IV at 96.1%.
Options Market Signals: Options market is pricing a $2.42 move by expiration, with a put/call volume ratio of 1.14 and open interest in calls.
Downside Protection: Support levels at $18.34 and $20.48; stop-loss levels should be set above these levels to minimize potential losses.
Market Context & Positioning
Sector Performance: VIXY is outperforming the S&P 500, indicating a sector rotation towards volatility plays.
Institutional Activity: Low institutional interest, with declining volume and OBV.
Correlation Analysis: Stock moves opposite to the market (R-squared: -0.81), indicating high risk.
Relative Valuation: VIXY is trading at the lower end of its historical range, suggesting potential for further downside.
Key Levels & Action Items
Critical Price Levels: Support at $18.34 and $20.48; resistance at $22.62.
Breakout/Breakdown Levels: Technical levels that could trigger significant moves: Lower Bollinger Band ($18.34) and Middle Line (SMA 20) ($20.48).
Time-Sensitive Catalysts: None identified in recent news headlines.
Risk Management: Set stop-loss levels above the critical price levels to minimize potential losses; consider reducing position size due to high volatility and implied volatility premium.
Generated
News
All VIXY news →
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VIXY Options Activity & IV Rank
VIXY IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 81.2%
7-DTE IV: 78.4%
Expected Move: $3.77
7-DTE Move: $1.95
Days to Exp: 39 (2026-12-18)
Options Flow · All expiries
Call Volume: 7,184
Put Volume: 9,516
P/C Volume: 1.325
BEARISH
Call OI: 99,109
Put OI: 22,301
P/C OI: 0.225
Total OI: 121,410
ATM Options Pricing
ATM Call: $2.00
ATM Put: $1.77
Call %: 11.0%
Put %: 9.7%
Chain Summary
Chain Volume: 16,700
Chain OI: 121,410
Last Updated: 11/9/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 40th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
40%
vs own history
GEX tilt
+0.35
OI-weighted, today
Vanna tilt
+0.52
δ-sensitivity to IV
Charm tilt
-0.39
δ-decay vs time
Vanna tilt +0.52: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.39: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 30 ATM contracts, 26k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
—
—
pts
EXTREME
No data
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)41.2MediumNov 9
IV Rank (30 DTE)45.8MediumNov 9
Straddle Price (30 DTE)$3.77Nov 9
Beta Analysis
Risk Metrics
Beta: -3.9065
Alpha: 6.70%
Correlation: -0.8403
R-Squared: 70.6%
Stock Volatility: 63.9%
Market Volatility: 13.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Negative beta - stock moves opposite to market
Negative beta - stock moves opposite to market
Beta & Alpha Over Time
VIXY Institutional Ownership (13F)
Filings for 2026-06-30 · 21 already for 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
4 filers$10.38M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $6.28M | 60.44% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $2.43M | 23.43% | 2026-06-30 |
| 3 | Millennium Management LLC Custodian | $1.38M | 13.33% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $291.14K | 2.80% | 2026-06-30 |
3 filers$8.90M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $7.29M | 81.90% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $848.41K | 9.54% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $762.18K | 8.57% | 2026-06-30 |
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
1.93M
SI % of Float
19.34%
Days to Cover
1.00
Short Vol Ratio
43.8%
Free Float
—
Float %
—
Short interest 2026-10-15 • Short volume 2026-11-09
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|