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ProShares Trust UltraShort Lehman 20+ TBT 38.74 -0.39 -1.0%

TBT Gamma Exposure (GEX)

TBT (ProShares Trust UltraShort Lehman 20+): See how call and put gamma exposure is distributed across option strikes. Free delayed preview.

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ATM IV
0.227
Put Call Ratio (OI)
0.502
Put Call Ratio (Vol)
1.09
IV Rank
34.2
IV Percentile
68.1
Max Pain
39

Gamma exposure (2026-09-21)

GEX estimates dealer hedging flow at each strike.

Positive GEX = dealers are long gamma; they buy the dip and sell the rip, dampening volatility. Negative GEX = dealers are short gamma; they sell the dip and buy the rip, amplifying volatility.

DTE \text{DTE}
25.0
851.0
| Δ | |\Delta|
0.00
1.00
Moneyness Moneyness
-23.6
23.6
View values by strike
TBT · Gamma exposure · 2026-09-21. USD of exposure per 1% underlying move.
StrikeCallsPuts
23.00 0 -131
24.00 0 -213
25.00 0 -19.8 K
26.00 184 -229
27.00 0 -865
28.00 241 -496
29.00 -3.01e-8 -1.24 K
30.00 423 -8.43 K
31.00 2.1 K -5.38 K
32.00 16 K -17.8 K
33.00 8.22 K -3.55 K
34.00 22.3 K -21.5 K
35.00 34.2 K -22.3 K
36.00 121 K -69 K
37.00 96.5 K -45.8 K
38.00 195 K -257 K
39.00 134 K -184 K
40.00 864 K -54.9 K
41.00 101 K -378
42.00 65 K -8.93 K
43.00 15.1 K -6.5 K
44.00 5.01 K -229
45.00 39.7 K -1.63 K
46.00 3.15 K 0
47.00 981 0
48.00 1.44 K -918
49.00 1.34 K 0
50.00 35.6 K -1.76 K
55.00 12 K -3.01 K