TZA · Option chain

TZA Option Chain

Every listed TZA strike within 25% of spot, across the next 6 expirations — calls and puts side by side with last price, volume and open interest, plus the closing bid and ask.

Open interest and pricing as of the close on 2026-09-03. Recomputed every morning before the open.

Spot

$40.17

Call open interest

4,932

Put open interest

3,116

Put/call (volume)

0.39

706 contracts changed hands across these expirations — 507 calls against 199 puts. Calls outtraded puts 2.55 to one.

Sep 11, 20266 days

call OI 401 · put OI 339

Calls				Strike	Puts
Last	Bid / Ask	Vol	OI		Last	Bid / Ask	Vol	OI
—	6.90 / 7.85	—	3	33	—	0.00 / 0.28	—	1
—	5.90 / 6.85	—	—	34	—	0.00 / 0.28	—	4
—	5.30 / 6.25	—	19	34.5	—	0.00 / 0.28	—	3
—	4.90 / 5.75	—	97	35	—	0.00 / 0.30	—	3
4.20	3.90 / 4.45	45	1	36	—	0.00 / 0.09	—	2
—	3.00 / 4.35	—	—	36.5	—	0.00 / 0.36	—	3
3.00	2.98 / 3.75	1	4	37	—	0.03 / 0.19	—	22
—	2.55 / 3.45	—	31	37.5	—	0.01 / 0.37	—	6
2.47	2.23 / 2.60	12	43	38	0.26	0.18 / 0.33	7	24
—	1.89 / 2.58	—	6	38.5	—	0.13 / 0.57	—	215
1.78	1.64 / 2.00	18	20	39	0.54	0.45 / 0.65	32	10
—	1.26 / 1.91	—	5	39.5	—	0.45 / 0.98	—	1
1.11	0.93 / 1.22	32	51	40	—	0.80 / 1.05	—	12
1.22	0.58 / 1.38	2	17	40.5	1.49	1.08 / 1.42	3	1
0.76	0.56 / 0.88	15	11	41	1.53	1.35 / 1.72	7	28
0.62	0.43 / 0.71	12	3	41.5	—	1.51 / 2.12	—	—
0.47	0.37 / 0.53	7	5	42	—	2.10 / 2.47	—	—
—	0.12 / 0.75	—	9	42.5	—	2.22 / 3.10	—	—
0.39	0.26 / 0.40	4	34	43	—	2.87 / 3.40	—	1
0.30	0.11 / 0.45	2	7	43.5	—	3.00 / 3.80	—	—
0.30	0.01 / 0.35	10	13	44	—	3.40 / 4.40	—	—
—	0.02 / 0.44	—	1	44.5	—	3.85 / 4.90	—	—
0.18	0.09 / 0.18	4	16	45	—	4.55 / 5.25	—	2
—	0.00 / 0.40	—	1	46.5	—	5.75 / 6.75	—	—
—	0.00 / 0.38	—	2	47	6.80	6.65 / 7.25	1	1
—	0.00 / 0.34	—	2	50	—	9.30 / 10.35	—	—
A dash means the contract did not trade — not a price of zero.

Sep 18, 202613 days

call OI 919 · put OI 736

Calls				Strike	Puts
Last	Bid / Ask	Vol	OI		Last	Bid / Ask	Vol	OI
—	8.90 / 9.75	—	—	31	—	0.01 / 0.05	—	1
—	7.90 / 8.75	—	1	32	—	0.00 / 0.28	—	31
—	6.85 / 7.75	—	—	33	—	0.01 / 0.05	—	12
—	6.35 / 7.25	—	—	33.5	—	0.00 / 0.02	—	2
—	5.85 / 6.80	—	1	34	—	0.00 / 0.32	—	28
—	5.05 / 5.80	—	—	35	0.04	0.05 / 0.14	1	62
—	4.15 / 4.60	—	24	36	—	0.11 / 0.35	—	16
—	3.60 / 4.55	—	8	36.5	0.33	0.15 / 0.33	4	4
—	3.30 / 4.15	—	51	37	—	0.10 / 0.59	—	48
—	2.85 / 3.75	—	2	37.5	—	0.27 / 0.75	—	12
—	2.62 / 3.05	—	31	38	—	0.40 / 0.91	—	18
2.79	2.20 / 2.99	4	—	38.5	0.91	0.68 / 1.01	1	—
—	2.05 / 2.73	—	112	39	—	0.60 / 1.31	—	114
—	1.73 / 2.46	—	3	39.5	—	0.90 / 1.54	—	51
1.70	1.47 / 1.77	51	104	40	—	1.16 / 1.70	—	31
—	1.05 / 1.78	—	74	41	—	1.71 / 2.33	—	37
—	0.89 / 1.65	—	51	41.5	—	1.96 / 2.72	—	12
1.00	0.82 / 1.42	1	123	42	—	2.37 / 3.10	—	45
0.90	0.79 / 0.96	14	17	42.5	—	3.00 / 3.50	—	—
—	0.52 / 1.19	—	6	43	—	3.05 / 3.85	—	7
0.56	0.48 / 0.95	3	65	44	—	3.85 / 4.65	—	2
—	0.26 / 0.87	—	6	44.5	—	4.25 / 5.05	—	—
0.50	0.35 / 0.83	1	52	45	—	4.80 / 5.55	—	1
—	0.15 / 0.70	—	3	46	—	5.65 / 6.50	—	—
—	0.07 / 0.59	—	42	47	—	6.55 / 7.55	—	—
—	0.03 / 0.50	—	12	48	—	7.45 / 8.45	—	—
—	0.01 / 0.47	—	10	49	—	8.40 / 9.30	—	1
—	0.02 / 0.42	—	121	50	9.86	9.40 / 10.20	1	201
A dash means the contract did not trade — not a price of zero.

Sep 25, 202620 days

call OI 121 · put OI 413

Calls				Strike	Puts
Last	Bid / Ask	Vol	OI		Last	Bid / Ask	Vol	OI
—	6.70 / 7.85	—	—	33	—	0.00 / 0.35	—	1
—	6.30 / 7.35	—	—	33.5	—	0.00 / 0.38	—	3
—	5.75 / 6.80	—	1	34	—	0.00 / 0.36	—	4
—	5.05 / 6.45	—	—	34.5	—	0.00 / 0.40	—	1
—	5.00 / 6.00	—	—	35	—	0.00 / 0.46	—	1
—	3.70 / 4.65	—	—	36.5	0.65	0.25 / 0.65	4	—
—	3.35 / 4.00	—	1	37	0.70	0.40 / 0.94	1	3
—	2.95 / 3.90	—	—	37.5	—	0.40 / 1.03	—	54
—	2.65 / 3.70	—	4	38	—	0.60 / 1.26	—	32
—	2.37 / 3.25	—	10	38.5	—	0.84 / 1.50	—	33
—	2.11 / 2.98	—	—	39	—	1.13 / 1.72	—	41
—	1.84 / 2.74	—	2	39.5	—	1.30 / 1.99	—	39
—	1.57 / 2.52	—	1	40	—	1.57 / 2.40	—	164
—	1.52 / 2.07	—	—	40.5	—	1.89 / 2.67	—	1
1.85	1.26 / 2.00	2	32	41	—	2.01 / 3.00	—	1
1.60	1.10 / 1.86	1	2	41.5	—	2.70 / 3.30	—	—
—	1.04 / 1.79	—	1	42	—	2.73 / 3.65	—	31
—	0.88 / 1.68	—	1	42.5	—	3.15 / 4.05	—	2
—	0.77 / 1.52	—	3	43	—	3.40 / 4.45	—	—
—	0.58 / 1.27	—	1	44	—	4.25 / 5.25	—	—
—	0.41 / 1.10	—	20	45	—	5.10 / 6.10	—	1
—	0.31 / 0.99	—	41	46	—	5.90 / 7.00	—	—
—	0.25 / 0.87	—	1	47	—	6.85 / 7.95	—	—
—	0.07 / 0.59	—	—	50	—	9.60 / 10.70	—	1
A dash means the contract did not trade — not a price of zero.

Oct 02, 202627 days

call OI 1,923 · put OI 307

Calls				Strike	Puts
Last	Bid / Ask	Vol	OI		Last	Bid / Ask	Vol	OI
—	7.25 / 8.30	—	—	32.5	—	0.01 / 0.38	—	4
—	6.70 / 7.85	—	—	33	—	0.00 / 0.40	—	1
—	5.75 / 6.95	—	—	34	—	0.00 / 0.47	—	1
—	5.35 / 6.45	—	—	34.5	—	0.01 / 0.54	—	1
—	4.90 / 6.05	—	1	35	—	0.08 / 0.59	—	3
—	3.45 / 4.55	—	—	37	—	0.50 / 1.17	—	2
—	3.20 / 4.20	—	3	37.5	—	0.65 / 1.35	—	1
—	2.90 / 3.90	—	4	38	—	0.90 / 1.57	—	5
—	2.66 / 3.55	—	12	38.5	—	1.15 / 1.80	—	39
2.93	2.45 / 3.15	1	1	39	—	1.38 / 2.03	—	66
—	2.20 / 3.10	—	913	39.5	—	1.48 / 2.32	—	3
—	1.87 / 2.86	—	8	40	2.34	2.08 / 2.59	9	15
2.26	1.64 / 2.56	10	—	40.5	—	2.17 / 3.05	—	23
—	1.80 / 2.22	—	1	41	—	2.50 / 3.25	—	128
—	1.50 / 2.01	—	—	41.5	—	3.05 / 3.55	—	8
1.65	1.35 / 2.01	2	2	42	—	3.30 / 4.00	—	4
—	1.16 / 1.96	—	2	42.5	—	3.45 / 4.40	—	—
—	1.10 / 1.83	—	431	43	—	3.85 / 4.75	—	—
—	0.86 / 1.58	—	176	44	—	4.60 / 5.55	—	—
—	0.70 / 1.38	—	306	45	—	5.40 / 6.50	—	—
—	0.51 / 1.23	—	3	46	—	6.35 / 7.20	—	3
—	0.45 / 1.08	—	23	47	—	7.10 / 8.10	—	—
—	0.27 / 0.77	—	37	50	—	9.90 / 10.95	—	—
A dash means the contract did not trade — not a price of zero.

Oct 16, 202641 days

call OI 1,081 · put OI 855

Calls				Strike	Puts
Last	Bid / Ask	Vol	OI		Last	Bid / Ask	Vol	OI
—	5.25 / 6.30	—	—	35	—	0.40 / 0.95	—	71
—	4.55 / 5.35	—	3	36	0.92	0.72 / 1.14	1	37
—	3.90 / 4.55	—	20	37	1.28	1.11 / 1.62	2	21
—	3.15 / 4.40	—	32	38	1.80	1.56 / 1.95	40	99
3.42	3.05 / 3.65	1	17	39	2.29	1.61 / 2.48	3	176
2.89	2.43 / 3.15	18	470	40	2.83	2.68 / 3.10	6	77
—	2.12 / 3.00	—	5	41	3.44	3.10 / 3.80	2	50
2.12	1.94 / 2.26	47	117	42	—	3.90 / 4.45	—	14
—	1.52 / 2.34	—	5	43	—	4.25 / 5.15	—	73
1.63	1.35 / 1.91	52	11	44	—	5.10 / 6.00	—	33
1.42	1.18 / 1.70	66	163	45	—	5.80 / 6.80	—	2
0.76	0.60 / 0.92	20	238	50	10.60	10.25 / 11.20	4	202
A dash means the contract did not trade — not a price of zero.

Jan 15, 2027132 days

call OI 487 · put OI 466

Calls				Strike	Puts
Last	Bid / Ask	Vol	OI		Last	Bid / Ask	Vol	OI
—	6.95 / 8.45	—	9	35	—	2.51 / 3.45	—	126
—	6.25 / 7.75	—	—	36	3.45	2.78 / 3.55	70	53
—	5.80 / 7.25	—	49	37	—	3.45 / 4.40	—	1
6.12	5.80 / 6.40	2	4	38	—	3.85 / 5.05	—	96
5.67	5.35 / 6.05	4	2	39	—	4.65 / 5.60	—	14
5.33	5.00 / 5.60	2	113	40	—	5.00 / 6.05	—	19
—	4.70 / 5.25	—	102	41	—	6.00 / 6.70	—	141
—	4.15 / 5.05	—	3	42	—	6.45 / 7.45	—	12
—	3.75 / 5.00	—	3	43	—	7.10 / 8.50	—	2
—	3.80 / 4.35	—	7	44	—	8.05 / 8.80	—	—
3.96	3.70 / 4.10	41	22	45	—	8.70 / 9.50	—	1
—	2.55 / 3.20	—	173	50	—	12.70 / 13.70	—	1
A dash means the contract did not trade — not a price of zero.

How to read this chain

Calls sit on the left, puts on the right, and every row is one strike. The highlighted row is the strike closest to spot. Open interest is the number of contracts still outstanding at that strike — positions that exist right now. Volume is how many traded on the session shown. Open interest builds slowly and marks where positioning has accumulated; volume spikes and marks where attention went today.

Strikes with no open interest and no trades on either side are omitted, and the ladder is trimmed to within 25% of spot — the far wings are almost entirely empty and say nothing about positioning.

More on TZA

TZA options score TZA gamma walls TZA max pain TZA IV rank TZA put/call ratio TZA options flow

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Educational, not investment advice. Options involve risk. Open interest is reported with a one-session lag by OCC, so these levels describe positioning as of the last settled session, not live intraday flow.