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Direxion Daily Small Cap Bear TZA 44.07 -0.8 -1.78%

TZA Gamma Exposure (GEX)

TZA (Direxion Daily Small Cap Bear): See how call and put gamma exposure is distributed across option strikes. Free delayed preview.

Previous-day view · Mon Sep 21 close. You are previewing the previous trading day. Subscribe to see today live and every other date — plans start at Delta, $39/mo. Sign up Sign in
ATM IV
0.521
Put Call Ratio (OI)
0.737
Put Call Ratio (Vol)
0.501
IV Rank
0.85
IV Percentile
2.76
Max Pain
45.5

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}
4.0
851.0
| Δ | |\Delta|
0.00
1.00
Moneyness Moneyness
-43.1
43.1
View values by strike
TZA · Gamma exposure · 2026-09-21. USD of exposure per 1% underlying move.
StrikeCallsPuts
2.00 0 -40.8
3.00 0 -433
4.00 0 -1.69 K
5.00 0 -7.9 K
6.00 0 -7.37 K
7.00 0 -3.15 K
8.00 0 -1.96 K
9.00 0 -4.7 K
10.00 0 -3.5 K
11.00 0 -44.1
12.00 0 -3.71 K
13.00 0 -92
14.00 0 -137
15.00 0 -375
16.00 0 -78
17.00 0 -158
18.00 0 -106
19.00 0 -1.21
20.00 1.36e-8 -394
22.00 0 -3.56
25.00 -5.21e-7 -170
30.00 19.5 -1.66 K
32.00 0 -173
32.50 0 -339
33.00 29 -55
33.50 0 -151
34.00 33 -256
34.50 0 -174
35.00 3.15 K -6.87 K
36.00 6.37 K -6.6 K
36.50 0 -267
37.00 17.8 K -5.43 K
37.50 0 -2.74 K
38.00 10.1 K -24.1 K
38.50 0 -5.03 K
39.00 73.1 K -21.1 K
39.50 0 -5.84 K
40.00 103 K -54.3 K
40.50 2.86e-7 -2.77 K
41.00 72.7 K -32.2 K
41.50 0 -20 K
42.00 76 K -20.9 K
42.50 460 -5.48 K
43.00 153 K -58.8 K
43.50 7.05 K -84.3 K
44.00 89.9 K -11.1 K
44.50 4.91 K -15.9 K
45.00 168 K -5.57 K
45.50 2.75 K -330 K
46.00 41.6 K -3.01 K
46.50 14.2 K -553
47.00 81.1 K 0
47.50 1.33 K 0
48.00 9.49 K 0
48.50 562 0
49.00 40.5 K 0
50.00 59.8 K -20.2 K
52.00 0 -126
54.00 1.53 K -58.5
55.00 16.1 K -1.34 K
60.00 13 K -4.93 K
65.00 65.1 0