Option chain for Direxion Daily Small Cap Bear 3X ETF (TZA): calls and puts for every expiration and strike, with quotes, volume, open interest, implied volatility and greeks. As of Oct 21, 2026, TZA had 6 option expirations, from Nov 20, 2026 to Jan 19, 2029, and 2,475 contracts traded that day. The nearest expiration, Nov 20, 2026, had an at-the-money implied volatility of 56.1% (+0% on the day) and 298 contracts traded; the busiest was Jan 15, 2027, with 2,052.

For the latest figures, see TZA options overview.

Key numbers

Expirations: at-the-money implied volatility, change on the day, volume

Nov 20, 2026 (30 days): ATM IV 56.1% (+0%), volume 298
Dec 18, 2026 (58 days): ATM IV 58.0% (+1%), volume 92
Jan 15, 2027 (86 days): ATM IV 58.4% (+0%), volume 2,052
Apr 16, 2027 (177 days): ATM IV 62.1% (-1%), volume 30
Jan 21, 2028 (457 days): ATM IV 67.2% (-1%), volume 3
Jan 19, 2029 (821 days): ATM IV 69.5% (+1%), volume 0

Data as of October 21, 2026.

TZA Option Chain

Detailed and comprehensive option chain for each expiration listed for TZA. Includes volume, open interest, implied volatility, and bid/ask for each strike. Investigate further by clicking on a strike and seeing trade activity, volatility movement, and yesterday's closing values. Use the built-in options profit calculator to see the profit or loss of any TZA options strategy.

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