thetrading.tools
SentimentUpdated daily · calls through October 19, 2026 · short interest as of September 30, 2026

Long Leveraged ETFs

Two kinds of positioning in the funds that move two or three times with an index. Short interest is shares borrowed and sold: a short seller of a bull fund gains when the index falls, or harvests the decay these funds lose to daily rebalancing. Call buying on a bull fund is a leveraged bet that the index rises.

Today's reading

In FINRA's September 30, 2026 report, short interest rose in 6 of the 11 funds from the prior settlement. The largest change was SOXL, −65.6% to 11.00M shares. On October 19, 2026, SSO had the busiest call trading against its own recent record: 951 contracts, 1.5× its 20-session average.

Sources, methodology & freshnessFINRA consolidated short interest; OCC volume query (cleared contracts); Massive option contract bars and share counts; ProShares daily shares outstanding · Call volume daily after the close; short interest twice a month, about two weeks after each settlementData as of 2026-10-19 · Open ↓
Source
FINRA consolidated short interest; OCC volume query (cleared contracts); Massive option contract bars and share counts; ProShares daily shares outstanding
Methodology
Short interest restated in today’s shares across splits; call contracts per session, halved from OCC’s two-sided count; expiry breakdown summed over every listed call
Updates
Call volume daily after the close; short interest twice a month, about two weeks after each settlementData as of 2026-10-19
Maintained & reviewed by Yuriy Matso — methodology shown on the page.
Long Leveraged ETFs2026-10-19
FundShortChangeCalls
TQQQ 3×17.26M−21%257K
QLD 2×932K−27%1,194
UPRO 3×1.51M+3%3,744
SSO 2×1.79M+29%951
SOXL 3×11.00M−66%157K
USD 2×291K+17%457
FAS 3×665K−3%425
UYG 2×36K+14%1
FNGU 3×5.09M+5%no options
FNGO 2×12K—no options
SHNY 3×2.27M+48%no options
UGL 2×571K−15%310

Short: FINRA shares short at the 2026-09-30 settlement, in today's shares; change against the prior report. Calls: OCC contracts cleared on 2026-10-19. Descriptions, not forecasts.

01

TQQQ (3×): ProShares UltraPro QQQ

Moves three times the daily move of the Nasdaq-100.

Short interest

Shares short, Sep 30, 2026
17.26M
vs prior settlement
−21.3%
Sep 15, 2026
Value short
$1.35B
Share of the fund
3.6%
of shares outstanding
Rank since 2017
19%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M57.6M115.2M201820192020202120222023202420252026TQQQ78.017.26M
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is TQQQ's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-887.1M-227.4M432.3M20192020202120222023202420252026TQQQ78.0−$357M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times TQQQ's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is TQQQ's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M1390.7M2781.5M201820192020202120222023202420252026TQQQ78.0$1.35B
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times TQQQ's price as it traded that day. A dollar figure needs no split adjustment. The top pane is TQQQ's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%5.9%11.9%201820192020202120222023202420252026TQQQ78.03.6%
Shares short over the fund's shares outstanding on each settlement date, both in today's shares; the share count is ProShares' own daily figure. The top pane is TQQQ's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
256,979
20-session average
183,517
today 1.4× it
Rank over a year
92%
percentile of sessions
Year's busiest session
445,450
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
0267309534618NovFebMayAugNovFebMayAugTQQQ70.62-for-1257K183517
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is TQQQ's split-adjusted close. Marked: the 2-for-1 split of November 20, 2025. A contract is 100 shares either side of a split, so the count steps with no change in positioning: down after a reverse split, when each contract covers more dollars, and up after a forward split.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Oct 19, 20260d
72,376
5-day avg 30,845
Oct 21, 20262d
28,528
5-day avg 15,242
Oct 23, 20264d
55,428
5-day avg 36,650
Oct 26, 20267d
4,293
5-day avg 3,345
Oct 28, 20269d
1,625
5-day avg 1,266
Oct 30, 202611d
25,033
5-day avg 19,396
Nov 2, 202614d
502
5-day avg 100
Nov 6, 202618d
10,473
5-day avg 8,504
Later9 expiries
58,472
Nov 13, 2026 to Jan 19, 2029
Total call volume256,730 contracts

The expiries add up the day's trades in every listed TQQQ call; OCC cleared 256,979. The busiest expiry was October 19, 2026.

02

QLD (2×): ProShares Ultra QQQ

Moves two times the daily move of the Nasdaq-100.

Short interest

Shares short, Sep 30, 2026
932K
vs prior settlement
−27.5%
Sep 15, 2026
Value short
$89.16M
Share of the fund
0.6%
of shares outstanding
Rank since 2017
13%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M4.1M8.2M201820192020202120222023202420252026QLD95.7932K
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is QLD's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-139.5M-36.4M66.6M20192020202120222023202420252026QLD95.7−$33.30M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times QLD's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is QLD's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M160.9M321.9M201820192020202120222023202420252026QLD95.7$89.16M
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times QLD's price as it traded that day. A dollar figure needs no split adjustment. The top pane is QLD's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%2.5%5%201820192020202120222023202420252026QLD95.70.6%
Shares short over the fund's shares outstanding on each settlement date, both in today's shares; the share count is ProShares' own daily figure. The top pane is QLD's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
1,194
20-session average
841
today 1.4× it
Rank over a year
73%
percentile of sessions
Year's busiest session
11,447
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
03042.56085NovFebMayAugNovFebMayAugQLD89.82-for-11,194841
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is QLD's split-adjusted close. Marked: the 2-for-1 split of November 20, 2025. A contract is 100 shares either side of a split, so the count steps with no change in positioning: down after a reverse split, when each contract covers more dollars, and up after a forward split.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Nov 20, 202632d
1,036
5-day avg 515
Dec 18, 202660d
65
5-day avg 17
Jan 15, 202788d
64
5-day avg 148
Apr 16, 2027179d
6
5-day avg 43
Jan 21, 2028459d
5
5-day avg 16
Jan 19, 2029823d
5
5-day avg 10
Total call volume1,181 contracts

The expiries add up the day's trades in every listed QLD call; OCC cleared 1,194. The busiest expiry was November 20, 2026.

03

UPRO (3×): ProShares UltraPro S&P 500

Moves three times the daily move of the S&P 500.

Short interest

Shares short, Sep 30, 2026
1.51M
vs prior settlement
+3.4%
Sep 15, 2026
Value short
$222M
Share of the fund
4.2%
of shares outstanding
Rank since 2017
33%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M2M4M201820192020202120222023202420252026UPRO1471.51M
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is UPRO's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-115.8M1.3M118.5M20192020202120222023202420252026UPRO147+$7.46M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times UPRO's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is UPRO's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M166.9M333.7M201820192020202120222023202420252026UPRO147$222M
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times UPRO's price as it traded that day. A dollar figure needs no split adjustment. The top pane is UPRO's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%3.8%7.6%201820192020202120222023202420252026UPRO1474.2%
Shares short over the fund's shares outstanding on each settlement date, both in today's shares; the share count is ProShares' own daily figure. The top pane is UPRO's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
3,744
20-session average
2,693
today 1.4× it
Rank over a year
56%
percentile of sessions
Year's busiest session
17,237
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
07697.515395NovFebMayAugNovFebMayAugUPRO1483,7442693
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is UPRO's split-adjusted close.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Oct 23, 20264d
1,155
5-day avg 640
Oct 30, 202611d
1,836
5-day avg 519
Nov 6, 202618d
92
5-day avg 49
Nov 13, 202625d
70
5-day avg 67
Nov 20, 202632d
207
5-day avg 411
Nov 27, 202639d
71
5-day avg 89
Dec 18, 202660d
113
5-day avg 147
Jan 15, 202788d
87
5-day avg 106
Later4 expiries
42
Mar 19, 2027 to Jan 19, 2029
Total call volume3,673 contracts

The expiries add up the day's trades in every listed UPRO call; OCC cleared 3,744. The busiest expiry was October 30, 2026.

04

SSO (2×): ProShares Ultra S&P 500

Moves two times the daily move of the S&P 500.

Short interest

Shares short, Sep 30, 2026
1.79M
vs prior settlement
+28.9%
Sep 15, 2026
Value short
$124M
Share of the fund
1.5%
of shares outstanding
Rank since 2017
15%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M3.9M7.8M201820192020202120222023202420252026SSO69.31.79M
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is SSO's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-185.5M-8.1M169.3M20192020202120222023202420252026SSO69.3+$28.09M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times SSO's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is SSO's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M167M334M201820192020202120222023202420252026SSO69.3$124M
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times SSO's price as it traded that day. A dollar figure needs no split adjustment. The top pane is SSO's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%2.7%5.3%201820192020202120222023202420252026SSO69.31.5%
Shares short over the fund's shares outstanding on each settlement date, both in today's shares; the share count is ProShares' own daily figure. The top pane is SSO's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
951
20-session average
632
today 1.5× it
Rank over a year
52%
percentile of sessions
Year's busiest session
4,603
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
02301.54603NovFebMayAugNovFebMayAugSSO69.82-for-1951632
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is SSO's split-adjusted close. Marked: the 2-for-1 split of November 20, 2025. A contract is 100 shares either side of a split, so the count steps with no change in positioning: down after a reverse split, when each contract covers more dollars, and up after a forward split.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Oct 23, 20264d
240
5-day avg 106
Oct 30, 202611d
88
5-day avg 41
Nov 6, 202618d
296
5-day avg 65
Nov 13, 202625d
34
5-day avg 9
Nov 20, 202632d
89
5-day avg 47
Nov 27, 202639d
55
5-day avg 12
Dec 18, 202660d
29
5-day avg 19
Jan 15, 202788d
22
5-day avg 50
Later4 expiries
98
Mar 19, 2027 to Jan 19, 2029
Total call volume951 contracts

The expiries add up the day's trades in every listed SSO call; OCC cleared 951. The busiest expiry was November 6, 2026.

05

SOXL (3×): Direxion Daily Semiconductor Bull 3X

Moves three times the daily move of the NYSE Semiconductor Index.

Short interest

Shares short, Sep 30, 2026
11.00M
vs prior settlement
−65.6%
Sep 15, 2026
Value short
$1.63B
Share of the fund
6.6%
of shares outstanding
Rank since 2017
65%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M30.2M60.3M201820192020202120222023202420252026SOXL14811.00M
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is SOXL's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-2891.9M-1168.5M554.9M20192020202120222023202420252026SOXL148−$2.89B
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times SOXL's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is SOXL's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M2209.8M4419.6M201820192020202120222023202420252026SOXL148$1.63B
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times SOXL's price as it traded that day. A dollar figure needs no split adjustment. The top pane is SOXL's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%10.4%20.9%201820192020202120222023202420252026SOXL1486.6%
Shares short over Massive's share count on each settlement date. Reports within 30 days after a split are left out, because that count lags a split. The top pane is SOXL's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
157,458
20-session average
157,944
today 1.0× it
Rank over a year
90%
percentile of sessions
Year's busiest session
304,635
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
0299747.5599495NovFebMayAugNovFebMayAugSOXL98.7157K157944
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is SOXL's split-adjusted close.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Oct 23, 20264d
83,301
5-day avg 36,531
Oct 30, 202611d
27,251
5-day avg 14,815
Nov 6, 202618d
9,196
5-day avg 4,389
Nov 13, 202625d
5,477
5-day avg 3,516
Nov 20, 202632d
10,611
5-day avg 16,176
Nov 27, 202639d
878
5-day avg 1,996
Dec 18, 202660d
4,290
5-day avg 4,677
Jan 15, 202788d
8,824
5-day avg 11,121
Later4 expiries
7,501
Feb 19, 2027 to Jan 19, 2029
Total call volume157,329 contracts

The expiries add up the day's trades in every listed SOXL call; OCC cleared 157,458. The busiest expiry was October 23, 2026.

06

USD (2×): ProShares Ultra Semiconductors

Moves two times the daily move of a US semiconductor index.

Short interest

Shares short, Sep 30, 2026
291K
vs prior settlement
+17.2%
Sep 15, 2026
Value short
$28.03M
Share of the fund
0.9%
of shares outstanding
Rank since 2017
60%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M0.9M1.8M201820192020202120222023202420252026USD96.3291K
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is USD's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-13.7M2.6M18.9M20192020202120222023202420252026USD96.3+$3.95M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times USD's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is USD's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M27.1M54.2M201820192020202120222023202420252026USD96.3$28.03M
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times USD's price as it traded that day. A dollar figure needs no split adjustment. The top pane is USD's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%2.4%4.8%201820192020202120222023202420252026USD96.30.9%
Shares short over the fund's shares outstanding on each settlement date, both in today's shares; the share count is ProShares' own daily figure. The top pane is USD's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
457
20-session average
422
today 1.1× it
Rank over a year
51%
percentile of sessions
Year's busiest session
2,806
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
09521904NovFebMayAugNovFebMayAugUSD79.42-for-12-for-1457422
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is USD's split-adjusted close. Marked: the 2-for-1 split of November 7, 2024 and the 2-for-1 split of November 20, 2025. A contract is 100 shares either side of a split, so the count steps with no change in positioning: down after a reverse split, when each contract covers more dollars, and up after a forward split.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Nov 20, 202632d
364
5-day avg 283
Dec 18, 202660d
12
5-day avg 9
Feb 19, 2027123d
68
5-day avg 166
May 21, 2027214d
13
5-day avg 62
Total call volume457 contracts

The expiries add up the day's trades in every listed USD call; OCC cleared 457. The busiest expiry was November 20, 2026.

07

FAS (3×): Direxion Daily Financial Bull 3X

Moves three times the daily move of the Russell 1000 Financial Services Index.

Short interest

Shares short, Sep 30, 2026
665K
vs prior settlement
−2.7%
Sep 15, 2026
Value short
$93.45M
Share of the fund
5.1%
of shares outstanding
Rank since 2017
29%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M0.9M1.8M201820192020202120222023202420252026FAS141665K
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is FAS's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-58.5M53.7M165.9M20192020202120222023202420252026FAS141−$2.85M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times FAS's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is FAS's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M111.7M223.4M201820192020202120222023202420252026FAS141$93.45M
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times FAS's price as it traded that day. A dollar figure needs no split adjustment. The top pane is FAS's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%4.6%9.2%201820192020202120222023202420252026FAS1415.1%
Shares short over Massive's share count on each settlement date. Reports within 30 days after a split are left out, because that count lags a split. The top pane is FAS's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
425
20-session average
1,941
today 0.2× it
Rank over a year
1%
percentile of sessions
Year's busiest session
11,994
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
0599711994NovFebMayAugNovFebMayAugFAS1534251941
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is FAS's split-adjusted close.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Oct 23, 20264d
254
5-day avg 427
Oct 30, 202611d
66
5-day avg 107
Nov 6, 202618d
15
5-day avg 75
Nov 13, 202625d
5
5-day avg 19
Nov 20, 202632d
25
5-day avg 346
Nov 27, 202639d
4
5-day avg 21
Dec 18, 202660d
22
5-day avg 29
Jan 15, 202788d
22
5-day avg 99
Later7 expiries
12
Mar 19, 2027 to Jan 19, 2029
Total call volume425 contracts

The expiries add up the day's trades in every listed FAS call; OCC cleared 425. The busiest expiry was October 23, 2026.

08

UYG (2×): ProShares Ultra Financials

Moves two times the daily move of a US financials index.

Short interest

Shares short, Sep 30, 2026
36K
vs prior settlement
+14.1%
Sep 15, 2026
Value short
$3.05M
Share of the fund
0.4%
of shares outstanding
Rank since 2017
12%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M0.1M0.3M201820192020202120222023202420252026UYG83.736K
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is UYG's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-2.9M0.2M3.2M20192020202120222023202420252026UYG83.7+$398K
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times UYG's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is UYG's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M5.5M10.9M201820192020202120222023202420252026UYG83.7$3.05M
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times UYG's price as it traded that day. A dollar figure needs no split adjustment. The top pane is UYG's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%0.7%1.4%201820192020202120222023202420252026UYG83.70.4%
Shares short over the fund's shares outstanding on each settlement date, both in today's shares; the share count is ProShares' own daily figure. The top pane is UYG's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
1
20-session average
8
today 0.1× it
Rank over a year
22%
percentile of sessions
Year's busiest session
426
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
094188NovFebMayAugNovFebMayAugUYG88.818
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is UYG's split-adjusted close.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Nov 20, 202632d
0
5-day avg 3
Dec 18, 202660d
1
5-day avg 7
Mar 19, 2027151d
0
5-day avg 0
Jun 17, 2027241d
0
5-day avg 0
Total call volume1 contracts

The expiries add up the day's trades in every listed UYG call; OCC cleared 1. The busiest expiry was December 18, 2026.

09

FNGU (3×): MicroSectors FANG+ 3X Leveraged ETN

Moves three times the daily move of the NYSE FANG+ Index. FNGU is an exchange-traded note with no listed options, so its section shows short interest only.

Short interest

Shares short, Sep 30, 2026
5.09M
vs prior settlement
+4.9%
Sep 15, 2026
Value short
$176M
Share of the fund
—
no share count
Rank since 2025
31%
percentile of 32 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M7.9M15.8MMarMayJulSepNovJan 2026MarMayJulSepFNGU34.55.09M
FINRA consolidated short interest, twice a month since Feb 28, 2025, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is FNGU's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-113.8M-8.8M96.2MJulSepNovJan 2026MarMayJulSepFNGU34.5+$8.16M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times FNGU's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is FNGU's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M212.9M425.9MMarMayJulSepNovJan 2026MarMayJulSepFNGU34.5$176M
FINRA consolidated short interest, twice a month since Feb 28, 2025, as dollars: shares short times FNGU's price as it traded that day. A dollar figure needs no split adjustment. The top pane is FNGU's split-adjusted close.
10

FNGO (2×): MicroSectors FANG+ 2X Leveraged ETN

Moves two times the daily move of the NYSE FANG+ Index. FNGO is an exchange-traded note with no listed options, so its section shows short interest only.

Short interest

Shares short, Sep 30, 2026
12K
vs prior settlement
—
prior position too small
Value short
$1.93M
Share of the fund
—
no share count
Rank since 2018
62%
percentile of 189 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M0.06M0.12M20192020202120222023202420252026FNGO15812K
FINRA consolidated short interest, twice a month since Aug 15, 2018, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is FNGO's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-8.2M-2.8M2.5M20192020202120222023202420252026FNGO158+$1.85M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times FNGO's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is FNGO's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M6.7M13.4M20192020202120222023202420252026FNGO158$1.93M
FINRA consolidated short interest, twice a month since Aug 15, 2018, as dollars: shares short times FNGO's price as it traded that day. A dollar figure needs no split adjustment. The top pane is FNGO's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated May 30, 2025 · FINRA, twice monthly
0%0.8%1.6%202020212022202320242025FNGO94.21.1%
Shares short over Massive's share count on each settlement date. The chart ends on May 30, 2025: Massive has carried no share count for FNGO after that date and we hold no other source for one, so later reports have no percentage. The shares and dollar charts above run to Sep 30, 2026. The top pane is FNGO's split-adjusted close.
11

SHNY (3×): MicroSectors Gold 3X Leveraged ETN

Moves three times the daily move of gold. SHNY is an exchange-traded note with no listed options, so its section shows short interest only.

Short interest

Shares short, Sep 30, 2026
2.27M
vs prior settlement
+47.6%
Sep 15, 2026
Value short
$18.04M
Share of the fund
—
no share count
Rank since 2023
100%
percentile of 87 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M1.1M2.3M202420252026SHNY8.02.27M
FINRA consolidated short interest, twice a month since Feb 28, 2023, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is SHNY's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-12.1M-1.3M9.6M202420252026SHNY8.0+$6.41M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times SHNY's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is SHNY's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M9M18M202420252026SHNY8.0$18.04M
FINRA consolidated short interest, twice a month since Feb 28, 2023, as dollars: shares short times SHNY's price as it traded that day. A dollar figure needs no split adjustment. The top pane is SHNY's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated May 30, 2025 · FINRA, twice monthly
0%4.5%9%20242025SHNY7.10.2%
Shares short over Massive's share count on each settlement date. The chart ends on May 30, 2025: Massive has carried no share count for SHNY after that date and we hold no other source for one, so later reports have no percentage. The shares and dollar charts above run to Sep 30, 2026. The top pane is SHNY's split-adjusted close.
12

UGL (2×): ProShares Ultra Gold

Moves two times the daily move of gold.

Short interest

Shares short, Sep 30, 2026
571K
vs prior settlement
−14.7%
Sep 15, 2026
Value short
$26.10M
Share of the fund
3.4%
of shares outstanding
Rank since 2017
81%
percentile of 211 reports
Range:

Shares short, in today's shares

Last updated Sep 30, 2026 · FINRA, twice monthly
0M1M2.1M201820192020202120222023202420252026UGL45.7571K
FINRA consolidated short interest, twice a month since Dec 29, 2017, in shares. Each report is restated in today's shares: a count from before a split is multiplied by every split since, so a position from before a 1-for-10 reverse split reads a tenth as large. The top pane is UGL's split-adjusted close.
Range:

Shorts added (red) and covered (green) between reports, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
-29.1M-5.1M18.9M20192020202120222023202420252026UGL45.7−$4.78M
The change in shares short from one FINRA report to the next (about two weeks), in today's shares, times UGL's average close over the sessions between the two reports: red bars are new short positions, green bars are shorts covered. A price move with no change in the position reads as zero, unlike the change in the dollar value short. Net of everyone's adds and covers, so an average price estimates what they paid. The top pane is UGL's split-adjusted close.
Range:

Value short, dollars

Last updated Sep 30, 2026 · FINRA, twice monthly
0M82.3M164.5M201820192020202120222023202420252026UGL45.7$26.10M
FINRA consolidated short interest, twice a month since Dec 29, 2017, as dollars: shares short times UGL's price as it traded that day. A dollar figure needs no split adjustment. The top pane is UGL's split-adjusted close.
Range:

Shares short as a share of the fund, %

Last updated Sep 30, 2026 · FINRA, twice monthly
0%7.2%14.4%201820192020202120222023202420252026UGL45.73.4%
Shares short over the fund's shares outstanding on each settlement date, both in today's shares; the share count is ProShares' own daily figure. The top pane is UGL's split-adjusted close.

Call volume, in contracts

Calls, Oct 19, 2026
310
20-session average
766
today 0.4× it
Rank over a year
0%
percentile of sessions
Year's busiest session
15,496
Range:

Calls traded per session, contracts

Last updated Oct 19, 2026 · OCC, daily
01309526190NovFebMayAugNovFebMayAugUGL45.24-for-1310766
Calls traded20-session average
Call contracts cleared each session, all exchanges, from OCC (its free record covers two years). The top pane is UGL's split-adjusted close. Marked: the 4-for-1 split of June 13, 2025. A contract is 100 shares either side of a split, so the count steps with no change in positioning: down after a reverse split, when each contract covers more dollars, and up after a forward split.

By expiration, October 19, 2026

Bars: each expiry's calls over the last 30 sessions, same scale across cards
Nov 20, 202632d
111
5-day avg 177
Dec 18, 202660d
148
5-day avg 127
Jan 15, 202788d
19
5-day avg 352
Apr 16, 2027179d
22
5-day avg 13
Jun 17, 2027241d
3
5-day avg 7
Jan 21, 2028459d
6
5-day avg 15
Jan 19, 2029823d
0
5-day avg 28
Total call volume309 contracts

The expiries add up the day's trades in every listed UGL call; OCC cleared 310. The busiest expiry was December 18, 2026.

13

How the numbers are built

Short interest is FINRA's consolidated short position across all exchanges, settled on the 15th and the last business day of each month and published about two weeks later. These funds reverse-split often, which shrinks a share count overnight, so every report is restated in today's shares. The dollar value is the reported shares times the price as it traded that day, which no split changes. The share of the fund divides by ProShares' own daily shares outstanding for its funds; Massive's count, used for the others, runs about two sessions behind the issuer's and has gaps.

Daily call volume is OCC's cleared count for the fund's options. OCC reports each trade once for the buyer's account and once for the seller's, so its sum is halved to count contracts. The breakdown by expiration adds up Massive's daily trades in every listed call on the fund's own symbol at every strike. Contracts moved to an adjusted symbol after a split are left out. The two counts differ slightly, and the page prints both.

FNGU, FNGO and SHNY are exchange-traded notes with no listed options. No forward study ships with this page: it describes positioning and does not claim that either measure predicts the index.

Data: FINRA consolidated short interest; OCC volume query; Massive option contract bars and share counts; ProShares daily shares outstanding; daily closes. Download the series: long.json.

How Long Leveraged ETFs Works

  1. 1
    Read the short interest
    FINRA collects every broker’s short position twice a month. The page charts each fund’s position since late 2017 three ways: in shares, restated in today’s shares because a split changes a share count overnight; in dollars, which no split changes; and as a share of the fund’s shares outstanding, using the issuer’s own daily count for ProShares funds and Massive’s elsewhere.
  2. 2
    Read the daily call volume
    The chart counts call contracts cleared at OCC each session over the last two years, with a 20-session average. A call on a bull fund is a bet on the index rising with the fund’s leverage on top, so a jump in call volume is traders paying for upside.
  3. 3
    Break the day down by expiration
    Under the chart, each card is one expiration date with the day’s call contracts, its five-session average and its bars over the last 30 sessions on a shared scale. The total under the cards adds every expiration together.

Who Uses Long Leveraged ETFs

Options traders
See whether upside call buying in TQQQ or SOXL is concentrated in this week’s expiry, which tends to be short-term speculation, or spread into later months.
Short sellers of leveraged funds
Track how crowded the borrow is in a bull fund you short for decay or against the index, and how fast it is changing between reports.
Market watchers
Compare positioning across the Nasdaq-100, S&P 500, semiconductor, financial, FANG+ and gold bull funds on one page, with the 3× and 2× fund on each index side by side.

Pro Tips

01
Short interest in a bull fund mixes bets and hedges
Shorting TQQQ gains when the Nasdaq-100 falls. Much of it is also hedging and pairs trading: long the index and short the 3x fund, or short both the 3x and the −3x fund and collect what daily rebalancing costs them in choppy markets. Read it as positioning, not as a view on direction.
02
Weekly expiries carry most of the volume
In the funds with weekly options, the nearest expiry usually carries the largest share of the day’s calls. A day when later months carry the volume is the one that differs.
03
Compare a fund with its own history
TQQQ and SOXL trade far more options than UYG or SSO, so raw contract counts are not comparable across funds. The rank over a year and the multiple of the 20-session average are.

Common Issues & Solutions

Why does short interest lag?▾
FINRA settles positions on the 15th and the last business day of the month and publishes them about two weeks later, so the latest report is always one to four weeks old.
Why do the expiries not add up to OCC’s count?▾
OCC counts cleared contracts; the expiry breakdown adds up exchange trades from Massive, which can miss a contract with no bar or a late correction, and leaves out contracts on an adjusted symbol after a split. The gap is usually a few percent.
Why is there no call volume for FNGU, FNGO and SHNY?▾
All three are exchange-traded notes from MicroSectors with no listed options, so OCC has no record for them.
Why does the call count jump at a split?▾
A contract is 100 shares on either side of a split. After a forward split each share is worth less, so the same dollar positioning takes more contracts; after a reverse split it takes fewer. The chart marks every split.

Frequently Asked Questions

What is the short interest in TQQQ, QLD, UPRO and SSO?▾
TQQQ 17.26M shares ($1.35B); QLD 932K shares ($89.16M); UPRO 1.51M shares ($222M); SSO 1.79M shares ($124M); SOXL 11.00M shares ($1.63B); USD 291K shares ($28.03M); FAS 665K shares ($93.45M); UYG 36K shares ($3.05M); FNGU 5.09M shares ($176M); FNGO 12K shares ($1.93M); SHNY 2.27M shares ($18.04M); UGL 571K shares ($26.10M), at FINRA's September 30, 2026 settlement, in today's shares after splits.
Which leveraged ETF has the most call volume?▾
On October 19, 2026, TQQQ traded 256,979 call contracts, the most of the funds with listed options (QLD 1,194, UPRO 3,744, SSO 951, SOXL 157,458, USD 457, FAS 425, UYG 1, UGL 310). The counts are OCC's cleared contracts.
What is a long leveraged ETF?▾
A fund that aims to return a multiple of an index’s move each day: three times for TQQQ (Nasdaq-100), UPRO (S&P 500), SOXL (semiconductors) and FAS (financials), two times for QLD, SSO, USD and UYG. Because the multiple resets daily, holding one for longer than a day can return more or less than the multiple times the index’s move, and less in a choppy market.
Why would anyone short a leveraged bull ETF?▾
To bet on the index falling, to hedge a long position in the index, or to collect the decay these funds suffer in volatile, directionless markets, often by shorting the 3x and the −3x fund together.
What does call volume on TQQQ mean?▾
A call on TQQQ gains when TQQQ rises, which happens when the Nasdaq-100 rises. Heavy call buying in TQQQ is traders paying for upside in the Nasdaq-100 through a fund that already carries three times leverage.

Explore Other Tools

Short Leveraged ETFs
The same view for SQQQ, SOXS, SPXU and the other inverse funds
Leveraged ETF Sentiment
Money in bullish against bearish leveraged funds
Short Interest
Short positions across US stocks, twice a month
TQQQ Options
Implied volatility, skew and open interest for TQQQ
SOXL Options
Implied volatility, skew and open interest for SOXL