ETF · 期权分析
UPRO 期权分析
数据截至 2026年11月12日(收盘)
- 标的收盘价
- $140.23
- 30D ATM IV
- 41.89%
- IV 百分位 · 1年
- 第 56
- 25Δ 风险逆转
- +14.57
- 期限斜率 90/30
- —
▼ -4.99 pts 较前一交易日
本交易日部分指标不可用
概览
UPRO 期权当前计入的 30 天平值隐含波动率为 41.9%,相当于未来一个月约 ±12.0% 的波动。这高于它过去一年 242 个交易日中 56% 的读数。
它的 25-delta put 比 call 的隐含波动率高 14.57 个波动率点,大致处在它自己过去一年区间的中部。
01 · 读数
当前读数
最近一个交易日的 30 天曲面,每个读数都放在它自身的历史里比较。
主要读数 · 30 天期限
- 30 天 ATM 隐含波动率ⓘ
- 41.89%
- 25-delta 风险逆转ⓘ
- +14.57
- 25-delta 蝶式价差ⓘ
- +0.92
- 期限结构斜率ⓘ
- —
对应 30 天内约 ±12.0% 的波动，平常一天约 ±2.6%。
高于过去一年中 56% 的读数。
距平值同样远时，put 比 call的隐含波动率高 14.57 个点。
高于过去一年中 57% 的读数。
两翼的隐含波动率比平值高 0.92 个点。
30 天隐含波动率处在什么位置
对比此前 242 个交易日(一年窗口)
- IV 百分位,1 年
- 56%
- IV 排名,1 年
- 12%
- IV 百分位,2 年
- 58%
- IV 排名,2 年
- 14%
排名是当前读数在窗口内最低与最高读数之间的位置,所以过去只要有一个极端值,之后的读数都会被压在一端附近。百分位是低于当前读数的交易日所占的比例,不受那个极端值有多极端的影响。窗口内少于 180 个交易日时,两者都不显示。
交易日明细
- 标的收盘价
- $140.23
- 30 天隐含远期价
- $141.46
- 60 天 ATM IV
- 41.36%
- 90 天 ATM IV
- —
- 180 天 ATM IV
- —
- 使用的到期日数
- 4
- 总未平仓量
- 49,986
- Put / call 未平仓量比
- 0.60
远期价由最接近平值的几个行权价上的 put-call 平价关系推出,而不是直接取标的收盘价。本页所有的价值状态(moneyness)和 delta 都以它为基准。
02 · 历史
读数是怎么走到这里的
存档窗口内的每个交易日,每次收盘一个点。
30 天平值隐含波动率
最近 335 个交易日
显示底层数据(最近 120 个)
| 交易日 | 30 天 ATM IV | 25-delta RR | 期限斜率 | 收盘价 |
|---|---|---|---|---|
| 2026-11-12 | 41.89% | +14.57 | — | $140.23 |
| 2026-11-10 | 46.88% | +16.00 | 0.964 | $136.37 |
| 2026-11-09 | 46.93% | +15.98 | — | $137.91 |
| 2026-11-06 | 54.61% | +24.77 | 0.921 | $128.94 |
| 2026-11-05 | 58.64% | +24.07 | 0.846 | $127.87 |
| 2026-11-04 | 40.01% | +13.47 | 1.032 | $147.26 |
| 2026-11-03 | 48.49% | +15.95 | 0.941 | $140.41 |
| 2026-11-02 | 46.31% | +15.57 | 0.972 | $139.14 |
| 2026-10-30 | 50.66% | +16.42 | 0.924 | $141.21 |
| 2026-10-29 | 37.70% | +12.84 | — | $149.35 |
| 2026-10-28 | 40.60% | +12.08 | — | $151.14 |
| 2026-10-27 | 41.94% | +14.03 | 1.012 | $149.55 |
| 2026-10-26 | 41.58% | +17.26 | 1.039 | $147.05 |
| 2026-10-23 | 44.68% | +19.09 | — | $144.04 |
| 2026-10-22 | 42.48% | +19.23 | — | $146.53 |
| 2026-10-21 | 39.14% | +13.87 | — | $152.01 |
| 2026-10-20 | 41.15% | +13.96 | 0.992 | $149.58 |
| 2026-10-19 | 39.19% | +15.05 | 1.041 | $148.27 |
| 2026-10-16 | 45.02% | +17.33 | 0.928 | $146.43 |
| 2026-10-15 | 37.07% | +9.89 | 1.018 | $151.52 |
| 2026-10-14 | 40.63% | +13.81 | 0.988 | $150.36 |
| 2026-10-13 | 36.59% | +11.60 | 1.078 | $155.40 |
| 2026-10-09 | 34.30% | +8.05 | — | $155.72 |
| 2026-10-08 | 37.48% | +8.35 | — | $153.13 |
| 2026-10-07 | 36.38% | +10.65 | 1.097 | $155.16 |
| 2026-10-06 | 36.49% | +8.22 | 1.082 | $156.41 |
| 2026-10-05 | 36.77% | +10.32 | 1.094 | $153.89 |
| 2026-10-02 | 37.13% | +10.99 | 1.068 | $150.88 |
| 2026-10-01 | 41.48% | +11.10 | 1.006 | $147.75 |
| 2026-09-30 | 38.27% | +10.21 | 1.057 | $146.97 |
| 2026-09-29 | 38.79% | +10.43 | 1.073 | $147.96 |
| 2026-09-28 | 38.87% | +8.50 | 1.048 | $148.75 |
| 2026-09-25 | 36.91% | +10.54 | 1.052 | $152.20 |
| 2026-09-24 | 37.97% | +9.97 | 1.076 | $149.99 |
| 2026-09-23 | 36.76% | +7.70 | 1.100 | $150.30 |
| 2026-09-22 | 35.20% | +9.31 | 1.123 | $154.01 |
| 2026-09-21 | 35.08% | +12.25 | 1.110 | $154.07 |
| 2026-09-18 | 34.83% | +12.72 | 1.160 | $147.19 |
| 2026-09-17 | 37.07% | +11.34 | 1.086 | $146.88 |
| 2026-09-16 | 44.46% | +17.15 | — | $142.10 |
| 2026-09-15 | 40.74% | +14.88 | 1.034 | $143.97 |
| 2026-09-14 | 40.78% | +12.95 | 0.997 | $145.99 |
| 2026-09-11 | 35.51% | +12.89 | 1.187 | $148.02 |
| 2026-09-10 | 41.58% | +16.51 | 1.052 | $144.50 |
| 2026-09-09 | 42.21% | +13.32 | 0.987 | $147.19 |
| 2026-09-08 | 38.44% | +9.98 | 1.068 | $149.30 |
| 2026-09-04 | 36.14% | +10.27 | 1.091 | $151.88 |
| 2026-09-03 | 35.63% | +9.77 | 1.127 | $153.73 |
| 2026-09-02 | — | — | — | $149.14 |
| 2026-09-01 | 38.38% | +11.82 | 1.050 | $147.15 |
| 2026-08-31 | 35.94% | +13.19 | 1.100 | $150.27 |
| 2026-08-28 | 36.46% | +11.05 | 1.120 | $151.78 |
| 2026-08-27 | 35.54% | +10.44 | 1.130 | $152.91 |
| 2026-08-26 | 37.81% | +15.97 | 1.091 | $149.97 |
| 2025-10-22 | — | — | — | $111.23 |
| 2025-10-21 | — | — | — | $113.02 |
| 2025-10-20 | — | — | — | $113.05 |
| 2025-10-17 | 45.74% | +21.70 | 1.012 | $109.64 |
| 2025-10-16 | — | — | — | $107.93 |
| 2025-10-15 | — | — | — | $110.15 |
| 2025-10-14 | — | — | — | $108.76 |
| 2025-10-10 | 48.78% | +12.83 | 0.997 | $104.49 |
| 2025-10-09 | 36.78% | +16.67 | 1.141 | $113.79 |
| 2025-10-08 | 37.34% | +12.80 | 1.111 | $114.78 |
| 2025-10-07 | 39.35% | +13.63 | 1.114 | $112.83 |
| 2025-10-06 | 38.12% | +13.79 | 1.098 | $114.11 |
| 2025-10-03 | 33.90% | +14.14 | 1.208 | $112.88 |
| 2025-10-02 | 37.60% | +12.52 | 1.087 | $113.01 |
| 2025-10-01 | 45.59% | +13.28 | 0.894 | $112.70 |
| 2025-09-30 | 37.11% | +13.40 | 1.083 | $111.49 |
| 2025-09-29 | 37.54% | +12.62 | 1.075 | $110.32 |
| 2025-09-26 | 36.49% | +10.65 | 1.099 | $109.42 |
| 2025-09-25 | 38.94% | +14.31 | 1.084 | $107.68 |
| 2025-09-24 | 43.12% | +10.58 | 0.986 | $109.24 |
| 2025-09-23 | 42.10% | +10.46 | 1.002 | $110.60 |
| 2025-09-22 | 39.68% | +10.86 | 1.025 | $112.39 |
| 2025-09-19 | 35.52% | +9.60 | 1.123 | $110.81 |
| 2025-09-18 | 35.58% | +11.66 | 1.124 | $109.35 |
| 2025-09-17 | 34.86% | +13.53 | 1.172 | $107.86 |
| 2025-09-16 | 36.64% | +12.03 | 1.101 | $108.25 |
| 2025-09-15 | 35.86% | +9.66 | 1.098 | $108.73 |
| 2025-09-12 | 31.66% | +12.15 | 1.216 | $107.08 |
| 2025-09-11 | 36.36% | +9.61 | 1.047 | $107.28 |
| 2025-09-10 | 34.53% | +12.43 | 1.121 | $104.74 |
| 2025-09-09 | 34.67% | +14.39 | 1.182 | $103.86 |
| 2025-09-08 | 34.62% | +12.00 | 1.116 | $103.15 |
| 2025-09-05 | 33.46% | +13.65 | 1.168 | $102.38 |
| 2025-09-04 | 35.33% | +13.32 | 1.097 | $103.38 |
| 2025-09-03 | 37.22% | +15.11 | 1.080 | $100.87 |
| 2025-09-02 | 36.69% | +20.70 | 1.118 | $99.38 |
| 2025-08-29 | 35.38% | +11.15 | 1.104 | $101.63 |
| 2025-08-28 | 35.05% | +9.33 | 1.078 | $103.60 |
| 2025-08-27 | 33.26% | +13.71 | 1.149 | $102.52 |
| 2025-08-26 | 33.19% | +12.75 | 1.157 | $101.88 |
| 2025-08-25 | 38.59% | +7.62 | 1.073 | $100.67 |
| 2025-08-22 | 33.60% | +11.60 | 1.167 | $101.98 |
| 2025-08-21 | 40.12% | +15.79 | 1.032 | $97.64 |
| 2025-08-20 | 36.80% | +12.20 | 1.105 | $98.79 |
| 2025-08-19 | 37.00% | +13.14 | 1.084 | $99.62 |
| 2025-08-18 | 35.16% | +12.54 | 1.107 | $101.33 |
| 2025-08-15 | 34.85% | +11.81 | 1.151 | $101.47 |
| 2025-08-14 | 31.69% | +8.50 | 1.199 | $102.25 |
| 2025-08-13 | 37.37% | +9.18 | 1.022 | $102.26 |
| 2025-08-12 | 35.00% | +13.08 | 1.103 | $101.21 |
| 2025-08-11 | 35.03% | +20.16 | 1.153 | $98.07 |
| 2025-08-08 | 36.42% | +12.88 | 1.082 | $98.75 |
| 2025-08-07 | 36.45% | +18.83 | 1.165 | $96.60 |
| 2025-08-06 | 41.48% | +16.18 | 0.982 | $96.78 |
| 2025-08-05 | 41.48% | +16.96 | 1.016 | $94.73 |
| 2025-08-04 | 39.75% | +17.75 | 1.038 | $96.14 |
| 2025-08-01 | 44.43% | +16.73 | 1.018 | $92.02 |
| 2025-07-31 | 39.55% | +16.14 | 1.040 | $96.84 |
| 2025-07-30 | 37.60% | +15.01 | 1.075 | $98.04 |
| 2025-07-29 | 37.16% | +13.98 | 1.066 | $98.43 |
| 2025-07-28 | 35.97% | +16.31 | 1.082 | $99.22 |
| 2025-07-25 | 39.24% | +11.26 | 0.994 | $99.28 |
| 2025-07-24 | 40.43% | +5.84 | 0.973 | $98.21 |
| 2025-07-23 | 32.46% | +14.78 | 1.247 | $98.08 |
| 2025-07-22 | 39.28% | +10.45 | 1.071 | $95.67 |
| 2025-07-21 | 36.33% | +15.86 | 1.126 | $95.68 |
图表覆盖存档中的全部交易日,共 335 个。表格列出最近的 120 个。
25-delta 风险逆转
最近 335 个交易日
虚线标出零的位置,即 25-delta put 与 call 隐含波动率相同之处。
03 · 偏斜
偏斜曲线
按 delta 排列的隐含波动率,近月到期日
按 delta 排列的隐含波动率
8d (2026-11-20) · 29d (2026-12-11) · 36d (2026-12-18)
横轴是 call 的 delta。虚线中线右侧的读数取自该行权价上的虚值 put,波动率正是从这个合约的报价反解出来的。只有在保留下来的报价从两侧夹住该 delta 时才会画点;最后一个有成交的行权价之外一律不外推。
显示底层数据
| Delta | 8d | 29d | 36d |
|---|---|---|---|
| 15Δ 看涨 | — | — | 34.59% |
| 20Δ 看涨 | 37.15% | 34.93% | 34.60% |
| 25Δ 看涨 | 38.26% | 35.65% | 34.90% |
| 30Δ 看涨 | 39.14% | 36.68% | 35.78% |
| 35Δ 看涨 | 39.43% | 38.19% | 36.71% |
| 40Δ 看涨 | 39.48% | 40.06% | 37.83% |
| 45Δ 看涨 | 41.78% | 40.74% | 39.04% |
| ATM | 40.88% | 42.22% | 40.26% |
| 45Δ 看跌 | 47.58% | 41.88% | 41.73% |
| 40Δ 看跌 | 45.84% | 45.59% | 44.23% |
| 35Δ 看跌 | 47.34% | 47.11% | 47.12% |
| 30Δ 看跌 | 50.37% | 47.47% | 48.01% |
| 25Δ 看跌 | 53.57% | 49.89% | 51.12% |
| 20Δ 看跌 | 56.22% | 55.22% | 55.74% |
| 15Δ 看跌 | 59.13% | 56.87% | 60.14% |
| 10Δ 看跌 | — | — | 67.86% |
| 5Δ 看跌 | — | — | 79.01% |
各到期日的两翼读数
| 到期日 | 天数 | 远期价 | ATM IV | 25Δ put | 25Δ call | RR | 蝶式价差 | 报价数 |
|---|---|---|---|---|---|---|---|---|
| 2026-11-20 | 8 | $140.92 | 40.88% | 53.57% | 38.26% | +15.30 | +5.04 | 14 |
| 2026-12-11 | 29 | $141.45 | 42.22% | 49.89% | 35.65% | +14.23 | +0.55 | 21 |
| 2026-12-18 | 36 | $141.51 | 40.26% | 51.12% | 34.90% | +16.22 | +2.74 | 24 |
| 2027-01-15 | 64 | $141.16 | 41.47% | 51.43% | 36.94% | +14.49 | +2.72 | 19 |
上面每条曲线代表一个到期日。纵向位置是隐含波动率,横向位置是读数所取合约的 delta。对美股来说,曲线通常向右上方倾斜,也就是虚值 put 的隐含波动率高于距离相同的 call。
25-delta 风险逆转把这个斜率概括成一个数字:25-delta put 的波动率减去 25-delta call 的波动率。蝶式价差(butterfly)概括的是弯曲程度:两翼的平均值减去平值读数。
04 · 期限结构
期限结构
各到期日的平值隐含波动率
各到期日的平值隐含波动率
4 个上市到期日得出了可用读数
横轴是距到期天数的平方根,这是波动率本身所在的尺度。按方差计算平坦的曲线,在这里会画成一条直线,而不会在最近一周急剧弯折。
显示底层数据
| 到期日 | 天数 | 远期价 | ATM IV | ATM 行权价 | 使用的报价数 |
|---|---|---|---|---|---|
| 2026-11-20 | 8 天 | $140.92 | 40.88% | $141.18 | 14 |
| 2026-12-11 | 29 天 | $141.45 | 42.22% | $142.45 | 21 |
| 2026-12-18 | 36 天 | $141.51 | 40.26% | $142.64 | 24 |
| 2027-01-15 | 64 天 | $141.16 | 41.47% | $143.30 | 19 |
恒定期限
在前后相邻的上市到期日之间按总方差插值
- 30 天
- 41.89%
- 60 天
- 41.36%
- 90 天
- —
- 180 天
- —
插值是对总方差做线性插值,而不是对波动率。直接对波动率插值,隐含的两个到期日之间的远期方差可能为负。超出最长上市到期日的期限会标为不可用,而不是外推。
期限结构斜率
最近 335 个交易日
虚线标出 1.00,即 90 天与 30 天平值波动率相等之处。在它上方,较长期限的波动率更高。
期限结构就是每个上市到期日的平值隐含波动率,按到期日有多远排开画出来。标的平稳时,它通常缓缓向上倾斜,因为期限越长,能容纳的不确定性越多。
当市场为某个有确定日期的事件定价时,它会倒挂:包含预定公告的到期日,除了平常交易的方差之外还要加上该事件的方差,所以较短的合约可能显示出比较长合约更高的波动率。