ETF · 期权分析
UVXY 期权分析
数据截至 2026年11月12日(收盘)
- 标的收盘价
- $17.35
- 30D ATM IV
- 118.61%
- IV 百分位 · 1年
- 第 73
- 25Δ 风险逆转
- -44.10
- 期限斜率 90/30
- —
▼ -8.62 pts 较前一交易日
本交易日部分指标不可用
概览
UVXY 期权当前计入的 30 天平值隐含波动率为 118.6%,相当于未来一个月约 ±34.0% 的波动。这高于它过去一年 240 个交易日中 73% 的读数。
它的 25-delta call 比 put 的隐含波动率高 44.10 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ⓘ
- 118.61%
- 25-delta 风险逆转ⓘ
- -44.10
- 25-delta 蝶式价差ⓘ
- +4.54
- 期限结构斜率ⓘ
- —
对应 30 天内约 ±34.0% 的波动，平常一天约 ±7.5%。
高于过去一年中 73% 的读数。
距平值同样远时，call 比 put的隐含波动率高 44.10 个点。
高于过去一年中 80% 的读数。
两翼的隐含波动率比平值高 4.54 个点。
30 天隐含波动率处在什么位置
对比此前 240 个交易日(一年窗口)
- IV 百分位,1 年
- 73%
- IV 排名,1 年
- 34%
- IV 百分位,2 年
- 70%
- IV 排名,2 年
- 33%
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
- $17.35
- 30 天隐含远期价
- $17.35
- 60 天 ATM IV
- —
- 90 天 ATM IV
- —
- 180 天 ATM IV
- —
- 使用的到期日数
- 3
- 总未平仓量
- 207,258
- Put / call 未平仓量比
- 0.42
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 333 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 | 118.61% | -44.10 | — | $17.35 |
| 2026-11-10 | 127.23% | -51.64 | — | $18.28 |
| 2026-11-09 | 123.98% | -54.54 | — | $18.41 |
| 2026-11-06 | 166.54% | -56.43 | — | $23.08 |
| 2026-11-05 | 181.20% | -64.00 | — | $23.61 |
| 2026-11-04 | 109.55% | -54.64 | — | $16.24 |
| 2026-11-03 | 137.67% | -52.85 | — | $18.91 |
| 2026-11-02 | 131.60% | -52.48 | — | $19.50 |
| 2026-10-30 | 157.23% | -68.61 | — | $19.33 |
| 2026-10-29 | 111.87% | -45.54 | — | $16.75 |
| 2026-10-28 | 117.97% | -46.90 | — | $17.33 |
| 2026-10-27 | 115.00% | -45.85 | — | $17.86 |
| 2026-10-26 | 120.79% | -47.52 | — | $18.09 |
| 2026-10-23 | 137.69% | -57.75 | — | $18.76 |
| 2026-10-22 | 121.72% | -48.72 | — | $18.41 |
| 2026-10-21 | 116.17% | -51.20 | — | $16.80 |
| 2026-10-20 | 130.32% | -46.69 | — | $17.18 |
| 2026-10-19 | 128.37% | -55.00 | — | $17.38 |
| 2026-10-16 | 147.34% | -60.54 | 0.875 | $18.50 |
| 2026-10-15 | 90.11% | -41.63 | 1.184 | $16.46 |
| 2026-10-14 | 89.69% | -37.85 | — | $16.63 |
| 2026-10-13 | 87.91% | -38.14 | 1.230 | $15.94 |
| 2026-10-09 | 80.82% | -32.61 | 1.290 | $16.32 |
| 2026-10-08 | 82.27% | -34.72 | — | $16.64 |
| 2026-10-07 | 82.70% | -31.79 | — | $16.19 |
| 2026-10-06 | 75.56% | -31.39 | — | $16.07 |
| 2026-10-05 | 89.47% | -39.70 | 1.225 | $16.69 |
| 2026-10-02 | 97.17% | -42.18 | 1.160 | $16.97 |
| 2026-10-01 | 89.24% | -37.09 | — | $17.47 |
| 2026-09-30 | 86.87% | -33.24 | — | $17.27 |
| 2026-09-29 | 92.46% | -41.21 | 1.158 | $16.99 |
| 2026-09-28 | 87.15% | -38.49 | — | $17.08 |
| 2026-09-25 | 86.27% | -33.94 | — | $16.85 |
| 2026-09-24 | 88.01% | -37.21 | 1.234 | $17.20 |
| 2026-09-23 | 83.28% | -31.46 | 1.326 | $17.04 |
| 2026-09-22 | 84.59% | -39.59 | 1.238 | $16.63 |
| 2026-09-21 | 88.25% | -42.07 | — | $17.38 |
| 2026-09-18 | 84.09% | -32.34 | 1.306 | $17.53 |
| 2026-09-17 | 83.54% | -31.63 | — | $17.44 |
| 2026-09-16 | 97.39% | -37.38 | — | $18.52 |
| 2026-09-15 | 91.16% | -34.15 | 1.229 | $18.23 |
| 2026-09-14 | 89.80% | -41.90 | — | $18.23 |
| 2026-09-11 | 99.67% | -23.95 | — | $18.02 |
| 2026-09-10 | 106.98% | -33.34 | 1.046 | $19.33 |
| 2026-09-09 | — | — | — | $18.38 |
| 2026-09-08 | — | — | — | $17.93 |
| 2026-09-04 | 88.81% | -31.09 | 1.197 | $17.53 |
| 2026-09-03 | 82.65% | -32.33 | 1.299 | $17.41 |
| 2026-09-02 | — | — | — | $17.97 |
| 2026-09-01 | 88.10% | -30.56 | 1.189 | $18.82 |
| 2026-08-31 | — | — | — | $17.97 |
| 2026-08-28 | 94.83% | -32.73 | — | $18.45 |
| 2026-08-27 | 76.10% | -25.90 | 1.375 | $18.15 |
| 2025-10-22 | 133.28% | -88.08 | — | $10.77 |
| 2025-10-21 | 124.39% | -85.87 | — | $10.56 |
| 2025-10-20 | 120.65% | -78.66 | — | $10.67 |
| 2025-10-17 | 142.71% | -85.82 | 1.080 | $12.10 |
| 2025-10-16 | 178.86% | -74.51 | 0.943 | $13.75 |
| 2025-10-15 | 151.34% | -85.81 | 1.014 | $11.95 |
| 2025-10-14 | 151.87% | -79.67 | 1.050 | $11.79 |
| 2025-10-10 | 158.12% | -78.68 | 0.991 | $12.49 |
| 2025-10-09 | 105.74% | -65.03 | — | $10.49 |
| 2025-10-08 | 111.20% | -67.48 | 1.324 | $10.45 |
| 2025-10-07 | 112.62% | -63.37 | 1.242 | $10.74 |
| 2025-10-06 | 104.97% | -60.00 | 1.365 | $10.42 |
| 2025-10-03 | 109.53% | -74.39 | 1.312 | $10.50 |
| 2025-10-02 | 113.50% | -84.13 | 1.267 | $10.60 |
| 2025-10-01 | 113.69% | -62.55 | 1.300 | $10.39 |
| 2025-09-30 | 120.57% | -68.42 | 1.238 | $10.44 |
| 2025-09-29 | 125.03% | -73.15 | 1.176 | $10.48 |
| 2025-09-26 | 104.95% | -63.26 | — | $10.34 |
| 2025-09-25 | 114.74% | -71.22 | 1.265 | $11.01 |
| 2025-09-24 | 117.49% | -65.47 | 1.227 | $10.77 |
| 2025-09-23 | 120.59% | -65.07 | 1.210 | $10.96 |
| 2025-09-22 | 114.36% | -69.36 | 1.165 | $10.79 |
| 2025-09-19 | 118.98% | -80.90 | 1.029 | $10.51 |
| 2025-09-18 | 118.27% | -75.58 | 1.205 | $10.54 |
| 2025-09-17 | 127.36% | -69.93 | 1.115 | $10.55 |
| 2025-09-16 | 128.27% | -82.16 | 1.156 | $11.15 |
| 2025-09-15 | 117.47% | -66.71 | 1.258 | $10.88 |
| 2025-09-12 | 108.61% | -60.86 | 1.257 | $10.71 |
| 2025-09-11 | 98.56% | -52.37 | 1.362 | $10.74 |
| 2025-09-10 | 104.59% | -54.81 | 1.290 | $11.11 |
| 2025-09-09 | 110.15% | -49.13 | 1.248 | $11.24 |
| 2025-09-08 | 114.16% | -53.39 | 1.189 | $11.32 |
| 2025-09-05 | 114.44% | -47.75 | 1.176 | $11.64 |
| 2025-09-04 | 117.37% | -60.44 | — | $11.60 |
| 2025-09-03 | 110.62% | -78.27 | 1.293 | $12.13 |
| 2025-09-02 | 119.94% | -60.52 | 1.190 | $12.61 |
| 2025-08-29 | 110.22% | -57.15 | — | $12.06 |
| 2025-08-28 | 108.04% | -58.77 | 1.239 | $11.69 |
| 2025-08-27 | 111.34% | -57.93 | 1.280 | $11.90 |
| 2025-08-26 | 100.28% | -62.32 | 1.281 | $11.85 |
| 2025-08-25 | 110.38% | -66.29 | 1.207 | $11.99 |
| 2025-08-22 | 102.00% | -60.83 | 1.346 | $11.91 |
| 2025-08-21 | 118.46% | -57.30 | 1.293 | $13.61 |
| 2025-08-20 | 115.67% | -65.16 | 1.245 | $13.34 |
| 2025-08-19 | 125.17% | -75.98 | — | $13.39 |
| 2025-08-18 | 112.72% | -66.14 | 1.242 | $13.02 |
| 2025-08-15 | 109.04% | -62.88 | 1.126 | $13.52 |
| 2025-08-14 | 99.20% | -63.28 | 1.305 | $13.59 |
| 2025-08-13 | 116.33% | -66.71 | 1.133 | $13.50 |
| 2025-08-12 | 97.40% | -55.45 | 1.253 | $13.66 |
| 2025-08-11 | 106.65% | -66.33 | 1.160 | $14.56 |
| 2025-08-08 | 97.86% | -50.83 | 1.207 | $14.49 |
| 2025-08-07 | 101.02% | -54.85 | 1.169 | $15.24 |
| 2025-08-06 | 103.27% | -55.81 | 1.169 | $15.08 |
| 2025-08-05 | 105.48% | -41.80 | 1.199 | $15.86 |
| 2025-08-04 | 97.53% | -56.15 | 1.260 | $15.60 |
| 2025-08-01 | 118.57% | -59.75 | — | $17.39 |
| 2025-07-31 | 104.19% | -49.46 | 1.225 | $15.44 |
| 2025-07-30 | 103.64% | -47.48 | 1.078 | $15.42 |
| 2025-07-29 | 105.17% | -61.38 | 1.081 | $15.30 |
| 2025-07-28 | 91.75% | -47.81 | 1.218 | $14.79 |
| 2025-07-25 | 97.53% | -57.39 | 1.125 | $15.43 |
| 2025-07-24 | 101.40% | -56.27 | 1.140 | $15.62 |
| 2025-07-23 | 105.46% | -55.86 | 1.094 | $15.71 |
| 2025-07-22 | 98.83% | -54.70 | 1.144 | $16.72 |
| 2025-07-21 | 100.16% | -52.74 | 1.104 | $16.79 |
| 2025-07-18 | 97.26% | -50.73 | 1.165 | $16.98 |
图表覆盖存档中的全部交易日,共 333 个。表格列出最近的 120 个。
25-delta 风险逆转
最近 333 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
1d (2026-11-13) · 8d (2026-11-20) · 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 | 1d | 8d | 36d |
|---|---|---|---|
| 5Δ 看涨 | 275.03% | 243.70% | — |
| 10Δ 看涨 | 225.89% | 192.15% | 207.22% |
| 15Δ 看涨 | 198.17% | 170.94% | 178.04% |
| 20Δ 看涨 | 178.06% | 161.62% | 154.46% |
| 25Δ 看涨 | 174.78% | 147.68% | 145.04% |
| 30Δ 看涨 | 170.01% | 141.22% | 139.50% |
| 35Δ 看涨 | 163.53% | 133.86% | 131.54% |
| 40Δ 看涨 | 158.07% | 125.07% | 127.29% |
| 45Δ 看涨 | 153.11% | 123.57% | 121.43% |
| ATM | 148.93% | 121.08% | 118.45% |
| 45Δ 看跌 | 145.28% | 115.11% | 115.95% |
| 40Δ 看跌 | 142.02% | 107.89% | 109.02% |
| 35Δ 看跌 | 139.27% | 103.66% | 110.55% |
| 30Δ 看跌 | 137.24% | 100.48% | 107.21% |
| 25Δ 看跌 | 135.39% | 97.69% | 101.29% |
| 20Δ 看跌 | 132.60% | 94.61% | 95.27% |
| 15Δ 看跌 | 126.03% | 92.83% | 91.25% |
| 10Δ 看跌 | 117.78% | 91.23% | 87.52% |
| 5Δ 看跌 | 121.21% | 90.04% | — |
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 |
|---|---|---|---|---|---|---|---|---|
| 2026-11-13 | 1 | $17.43 | 148.93% | 135.39% | 174.78% | -39.39 | +6.16 | 14 |
| 2026-11-20 | 8 | $17.39 | 121.08% | 97.69% | 147.68% | -49.99 | +1.61 | 19 |
| 2026-12-18 | 36 | $17.33 | 118.45% | 101.29% | 145.04% | -43.75 | +4.71 | 23 |
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
3 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 |
|---|---|---|---|---|---|
| 2026-11-13 | 1 天 | $17.43 | 148.93% | $17.48 | 14 |
| 2026-11-20 | 8 天 | $17.39 | 121.08% | $17.68 | 19 |
| 2026-12-18 | 36 天 | $17.33 | 118.45% | $18.57 | 23 |
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
- 118.61%
- 60 天
- —
- 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 333 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。