TZA Option Overview

826 calls and 407 puts traded on Nov 6, 2026, 1.23K contracts in total. Open interest was 27.46K contracts. Over the past 30 days, volume averaged 2.19K contracts per day. The TZA option volume chart shows volume by strike and expiration date.

TZA IV rank is 30, so its 30-day implied volatility of 69.5% is in the lower part of its one-year range. Over the past year it ranged from 37.0% on Aug 13, 2026 to 147.1% on Oct 16, 2026. See the TZA implied volatility history for a longer view.

The TZA put/call volume ratio was 0.49 on Nov 6, 2026, so calls outnumber puts. The put/call open interest ratio was 0.13. The TZA open interest chart shows calls and puts at each strike.

As of the Nov 6, 2026 close, max pain for TZA options about one week from expiration was $39.97, 18.8% below the $49.25 close. The TZA max pain chart shows it for every expiration date.

Based on 7-day implied volatility of 70.8%, options price a move of about ±$4.83 (±9.8%) over the next week, a range of roughly $44.42 to $54.08 from the Nov 6, 2026 close. The TZA expected move chart shows it for every expiration date.