SH250117C00030000 Option on ProShares Short SP500

SH Etf  USD 41.12  0.02  0.05%   
ProShares Short's latest option contracts expiring on March 21st 2025 are carrying combined implied volatility of 0.29 with a put-to-call open interest ratio of 0.06 over 34 outstanding agreements suggesting investors are buying way more calls than puts on contracts expiring on March 21st 2025. The total put volume is at 10.0, with calls trading at the volume of 104. This yields a 0.1 put-to-call volume ratio.

Open Interest Against March 21st 2025 Option Contracts

The chart above shows ProShares Short's distribution of open interest by maturity on contracts that have not yet been settled. The area between the two highest points is the projection of the price at expiration. ProShares Short's open interest chart also provides vital information regarding the liquidity of an option. If there is no open interest for ProShares Short's option, there is no secondary market available for investors to trade.

In The Money vs. Out of Money Option Contracts on ProShares Short

Analyzing ProShares Short's in-the-money options over time can help investors to take a profitable long position in ProShares Short regardless of its overall volatility. This is especially true when ProShares Short's options are deep in the money. These options can be identified using deltas that are over 0.75. Deep in-the-money ProShares Short's options could be used as guardians of the underlying stock as they move almost dollar for dollar with ProShares Short's stock while costing only a fraction of its price.

ProShares Short SP500 In The Money Call Balance

When ProShares Short's strike price is surpassing the current stock price, the option contract against ProShares Short SP500 stock is said to be in the money. When it comes to buying ProShares Short's options that are 'In the Money' or 'Out of the Money', the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
While 'out-of-the-money' option contracts written on ProShares Short SP500 are typically viewed as the more aggressive, there are potential upsides to purchasing these types of options contracts. For one, the cost to buy an 'Out of the Money' option is lower than the cost to buy an 'In the Money' option. This cost-benefit is due to the fact that at the time of the purchase, 'Out of the Money' contracts have no intrinsic value. So, while the potential for a 100% loss is more significant, the cost and risk to enter the trade are lower.

ProShares Current Options Market Mood

ProShares Short's open interest and total value indicators provide investors with the necessary information to digest the overall options buildup for its expiring contracts. In addition, it helps ProShares Etf's traders understand whether a recent fall or rise in the market is unreasonable and if the time has come to take contrarian positions. These ratios are calculated based on options trading volumes and current open interest.

Put-to-Call Open Interest

Put-to-Call Volume

Unfortunately, most ProShares Short's options investors are not very successful. ProShares Short's option open interest and volume spread between outstanding puts and calls are regarded by many investors as reliable indicators of the overall future market direction.

Rule 16 of the current ProShares contract

Base on the Rule 16, the options market is currently suggesting that ProShares Short SP500 will have an average daily up or down price movement of about 0.0181% per day over the life of the 2025-03-21 option contract. With ProShares Short trading at USD 41.12, that is roughly USD 0.007453. If you think that the market is fully incorporating ProShares Short's daily price movement you should consider buying ProShares Short SP500 options at the current volatility level of 0.29%. But if you have an opposite viewpoint you should avoid it and even consider selling them.
  
Purchasing ProShares Short options can give investors a meaningful hedge against losses and, therefore, could be used conservatively to decrease the volatility of your portfolio. However, many options could also amount to little more than gambling, significantly enhancing your overall portfolio risk. One simple example of these aggressive strategies is the sale of "uncovered" ProShares calls. Remember, the seller must deliver ProShares Short SP500 stock to the call owner when a call is exercised.

ProShares Short Option Chain

When ProShares Short's strike price is surpassing the current stock price, the option contract against ProShares Short SP500 stock is said to be in the money. When it comes to buying options that are ITM or OTM, the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
ProShares Short's option chain is a display of a range of information that helps investors for ways to trade options on ProShares. In general, an option chain provides a helpful tool for investors to see all available option contracts, both puts, and calls, for ProShares. It also shows strike prices and maturity days for a ProShares Short against a given expiration period. The table below combines all the option information in the form of a chain but before you use it, remember that it entails significant risk and it is not for everyone.
Open IntStrike PriceCurrent SpreadLast Price
Call
SH250321C00037000637.02.0 - 6.45.0In
Call
SH250321C00040000340.00.2 - 3.62.6In
Call
SH250321C00041000541.00.05 - 1.11.4Out
Call
SH250321C0004200031342.00.55 - 0.650.61Out
Call
SH250321C0004300052243.00.35 - 0.450.4Out
Call
SH250321C000440003144.00.25 - 0.350.29Out
Call
SH250321C000450008045.00.15 - 0.250.21Out
Call
SH250321C000460001846.00.1 - 0.20.35Out
Call
SH250321C000470007747.00.0 - 0.350.47Out
Call
SH250321C00048000248.00.0 - 0.350.2Out
Call
SH250321C00049000049.00.0 - 0.150.15Out
Call
SH250321C00050000050.00.0 - 0.750.75Out
Call
SH250321C00051000151.00.0 - 1.350.2Out
Call
SH250321C00052000052.00.0 - 0.750.75Out
Call
SH250321C00053000053.00.0 - 0.750.75Out
Call
SH250321C00054000054.00.0 - 0.750.75Out
Call
SH250321C00055000055.00.0 - 0.70.7Out
Call
SH250321C00056000056.00.0 - 0.750.75Out
Call
SH250321C00057000057.00.0 - 0.750.75Out
Call
SH250321C00058000058.00.0 - 0.750.75Out
 Put
SH250321P00041000541.00.55 - 0.70.53Out
 Put
SH250321P00042000742.01.25 - 2.51.35In
 Put
SH250321P000430005343.01.8 - 2.352.12In
 Put
SH250321P00045000145.01.5 - 6.22.5In
 Put
SH250321P00049000049.05.5 - 10.45.5In
 Put
SH250321P00050000050.06.5 - 11.46.5In
 Put
SH250321P00051000051.07.8 - 11.87.8In
 Put
SH250321P00052000052.08.8 - 13.08.8In
 Put
SH250321P00053000053.09.6 - 14.19.6In
 Put
SH250321P00054000054.010.8 - 14.810.8In
 Put
SH250321P00055000055.011.7 - 16.011.7In
 Put
SH250321P00056000056.012.8 - 17.112.8In
 Put
SH250321P00057000057.013.9 - 17.813.9In
 Put
SH250321P00058000058.014.6 - 19.114.6In

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The market value of ProShares Short SP500 is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Short's value that differs from its market value or its book value, called intrinsic value, which is ProShares Short's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ProShares Short's market value can be influenced by many factors that don't directly affect ProShares Short's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ProShares Short's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Short is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Short's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.