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SOXS Implied Volatility, IV Rank & Options Chain

Direxion Daily Semiconductor Bear 3X (SOXS) options data: IV rank, options chain, GEX and Greeks. Comprehensive options market data for Direxion Daily Semiconductor Bear 3X (SOXS).

Updated Reference data
Open SOXS in the Terminal SOXS GEX levels IV Intelligence Positioning

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On this page
  1. Key facts
  2. Company overview
  3. Options market
  4. Volatility profile
  5. GEX analysis
  6. Common strategies
  7. FAQ

SOXS options trade with implied volatility typically in the 60% - 200% range, averaging 150K+ contracts in daily volume with very good liquidity. Next earnings: N/A (ETF). Weekly options and LEAPS are available.

SOXS implied volatility

As of 2026-10-26

As of 2026-10-26, SOXS's 30-day implied volatility is 130.5%, placing its 1-year IV percentile at 54.0 — above 54.0% of the past year's daily IV readings, a middle range, neutral between selling and buying premium.

130.5%30-day IV
54.01-year IV rank

SOXS live chain, Greeks and GEX

Terminal

Every figure above is reference data. The live SOXS chain, its Greeks, the gamma profile and the flow tape update through the session inside the Terminal.

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SOXS options at a glance

Daily volume
150K+ contracts
IV range
60% - 200%
Bid-ask spread
$0.03 - $0.08 ATM
Expirations
Weekly, monthly, LEAPS
Open interest
1M+ contracts
Next earnings
N/A (ETF)
150K+ contractsDaily Volume
1M+Open Interest
$0.03-0.08ATM Spread
60-200%IV Range
-3x DailyLeverage
Inverse/BearishDirection

About Direxion Daily Semiconductor Bear 3X (SOXS)

Direxion Daily Semiconductor Bear 3X Shares (SOXS) seeks daily investment results of 300% of the inverse performance of the NYSE Semiconductor Index. SOXS is used for hedging long chip exposure and bearish semiconductor bets.

Company profile

Sector
ETF
Industry
Leveraged ETF
Market cap
$500M+ AUM
Exchange
NYSE Arca

Key dates

Next earnings
N/A (ETF)
Earnings frequency
N/A
Dividend schedule
N/A
Fiscal year end
N/A

SOXS is the primary vehicle for inverse leveraged semiconductor exposure. Volume spikes during chip selloffs and when traders hedge long NVDA/AMD positions.

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Chains, IV rank, expected move and dealer positioning for 5,500+ US stocks and ETFs.

  • Live chains and Greeks
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  • Expected move and GEX
  • Screener and strategy P&L
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SOXS options market overview

SOXS options provide inverse semiconductor exposure with 3x leverage. Liquidity is strong, especially during chip sector volatility.

Average daily volume
150K+ contracts
Total open interest
1M+ contracts
Put/call ratio
0.75 - 1.20 typical
Typical ATM spread
$0.03 - $0.08 ATM
Weekly options
Available
LEAPS available
Yes

Liquidity assessment: Very Good

SOXS options volume increases during semiconductor selloffs. Liquidity is best when hedging demand is highest.

SOXS implied volatility and IV rank

SOXS implied volatility mirrors SOXL at approximately 3x semiconductor sector volatility. IV spikes during chip selloffs.

60% - 80%Low IV, below average
80% - 120%Typical, normal conditions
120% - 200%Elevated, above average

Earnings impact

IV rises during semiconductor earnings and chip sector uncertainty. Inverse correlation to chip sentiment.

The post-earnings volatility drop is known as IV crush. Holders of short SOXS options should also understand early assignment risk around dividends and expiration.

Historical volatility vs IV

SOXS IV spikes above historical during fear-driven chip selloffs.

Term structure

Can be inverted during semiconductor stress as near-term protection demand increases.

The smile, the term structure and the cone for SOXS, on today's chain.

Open SOXS in IV Intelligence

SOXS gamma exposure (GEX)

Gamma Exposure (GEX) analysis for SOXS shows inverse semiconductor positioning.

  • Typical GEX profile. SOXS gamma effects are significant during chip volatility. Dealer hedging creates complex dynamics.
  • Key levels. Major strikes shift with price. SOXS price varies dramatically with semiconductor moves.
  • Dealer hedging. SOXS dealer hedging dynamics differ from long ETFs due to inverse exposure.

Where the gamma sits on SOXS right now, strike by strike.

See live SOXS GEX

Common SOXS options strategies

These are strategies commonly used by traders on SOXS options, based on typical market characteristics. This is not investment advice.

Protective CallsHedging. Buying SOXS calls to hedge long semiconductor positions. Alternative to SMH/SOXL puts. Debit SpreadsDirectional. Call spreads for bearish chip bets. Put spreads when bullish on semiconductors. Credit SpreadsIncome. Put credit spreads when bullish on chips (expecting SOXS to decline). StraddlesVolatility. Used around NVIDIA earnings for volatility plays. Covered PutsIncome. Selling puts against short SOXS. Used when expecting chip rally.

Every options strategy, ranked by what it is for

Key considerations for SOXS options

  • SOXS profits when semiconductors decline - it's a bearish instrument
  • 3x leverage on an already volatile sector creates extreme moves
  • Daily reset causes severe decay in bull markets for chips
  • Best used for short-term hedging, not long-term bearish positions
  • NVIDIA earnings can move SOXS 15-30% in a single day
  • Options provide leveraged inverse exposure without holding the decaying ETF

SOXS key events

Earnings months. N/A

  • NVIDIA Earnings (highest impact)
  • Semiconductor Earnings Season
  • China Export Restrictions
  • AI Demand Updates

SOXS options data by API, or in Claude

Every number on this page is one request away. The implied volatility API returns SOXS's IV rank and percentile, the gamma exposure API its dealer positioning by strike, and the chain API every strike with Greeks. Connected to the ApexVol MCP server, Claude, Cursor or ChatGPT can ask for them in plain English.

GET /api/mcp/data/iv-rank/SOXSBearer token, JSON back
curl -H "Authorization: Bearer avmcp_YOUR_TOKEN" \
     "https://apexvol.com/api/mcp/data/iv-rank/SOXS"
In Claudethrough the MCP server
You

What is SOXS's IV rank right now, and where is its gamma flip?

Claude calls get_iv_rank and get_gex

Try GEX on SOXS in the console, more prompts for SOXS, or set the server up in Claude Desktop, Claude Code, Cursor or ChatGPT.

Written by
ApexVol Research Team
Quantitative options research. All calculations use live institutional-grade data — the same source professional volatility desks use.
Reviewed by
Ryan Silk, ApexVol Founder
Reviewed for technical accuracy. 10+ years trading options; built ApexVol's pricing engine, Greeks model and IV-rank methodology.

Revised as market conditions and institutional data change. Last revised 2026-10-26. How we research →

Track this name's volatility weekly. The week's biggest IV movers and the expected earnings moves, straight from the data.

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Questions

Frequently asked
about SOXS options.

How liquid are SOXS options?

SOXS options have good liquidity with average daily volume exceeding 150,000 contracts. Volume increases significantly during semiconductor selloffs.

What is SOXS's typical implied volatility?

SOXS implied volatility typically ranges from 60% to 200%, similar to SOXL. IV spikes during chip sector stress.

How does SOXS work?

SOXS seeks to deliver -3x (three times inverse) the daily return of the NYSE Semiconductor Index. If semiconductors fall 5%, SOXS aims to rise 15%.

When do traders use SOXS options?

Traders use SOXS options for hedging long chip positions, speculating on semiconductor declines, or trading volatility around NVIDIA earnings.

How does NVIDIA affect SOXS?

NVIDIA is the largest component of the semiconductor index. Strong NVDA earnings cause SOXS to decline sharply, while weak results cause SOXS to spike.

Is SOXS suitable for long-term bearish bets?

No, SOXS decays severely in bull markets due to daily reset. It's designed for short-term hedging and trading, not long-term positions.

What affects SOXS options pricing?

SOXS options are driven by semiconductor moves (inverse), NVIDIA earnings, AI demand news, and China export restrictions.

Are LEAPS available for SOXS?

Yes, but SOXS LEAPS are rarely recommended for long calls due to decay. They may work for put strategies if bullish on semiconductors.

What is SOXS's gamma exposure (GEX)?

Gamma exposure (GEX) measures how options dealers' hedging of their net gamma position can influence SOXS's intraday price action. SOXS gamma effects are significant during chip volatility. Dealer hedging creates complex dynamics. SOXS dealer hedging dynamics differ from long ETFs due to inverse exposure. Positive GEX tends to dampen volatility and create mean-reverting moves, while negative GEX can amplify swings. View live SOXS GEX levels and the gamma-flip point on ApexVol.

What is SOXS's IV rank?

SOXS's IV rank shows where SOXS's current implied volatility sits within its trailing 1-year range, scored 0–100. A reading near 100 means IV is near its yearly high — options are relatively expensive, which favors premium-selling strategies like credit spreads and iron condors. A reading near 0 means IV is near its yearly low, favoring premium-buying. SOXS implied volatility typically ranges from 60% - 200%. Check SOXS's live IV rank and percentile on ApexVol's IV analytics.

Keep reading

Where SOXS
gets priced.

SOXS analytics

SOXS Gamma ExposureReal-time GEX levels and dealer positioning SOXS IV AnalyticsIV rank, percentile, and volatility cone SOXS Volatility LabIV smile and term structure analysis SOXS Greeks HeatmapVisualize Greeks across strikes SOXS Options FlowTrack institutional order flow SOXS Event AnalysisChip selloff IV patterns

Run it, do not just read it

Options profit calculatorPayoff, breakeven and Greeks. Greeks calculatorDelta, gamma, theta, vega. IV rank calculatorImplied volatility and IV rank. Options chainReal-time Greeks on a live chain. Greeks heatmapWhere the exposure actually sits. Volatility labIV analysis across the surface. Strategy simulatorTest the structure before you place it. IV intelligenceThe surface in three dimensions. Options screenerFind the setups worth a look. Historical dataPast snapshots, back to 2007. EarningsHistorical moves and the IV around them. 0DTE analyticsSame-day expiration, same-day risk.

Related tickers

SOXL optionsDirexion Semiconductor Bull 3X. 3x long (opposite). SMH optionsVanEck Semiconductor ETF. Underlying sector ETF. NVDA optionsNVIDIA. Top holding inverse exposure. SQQQ optionsProShares UltraPro Short QQQ. 3x inverse tech. SPXS optionsDirexion S&P 500 Bear 3X. 3x inverse broad market.

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