---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39741352.md"
description: "The UVXY put/call ratio for open interest is about 0.6, with calls in the majority—this is a counterintuitive signal for UVXY. Those holding UVXY calls expect the VIX to surge further, betting on increased market panic🤔The current total OI for UVXY is at the 16.9th percentile of its 52-week average, meaning the current position size is abnormally low, indicating that most institutions have already built their VIX hedge positions in advance or haven't built them yet. Once a new shock hits, the options market will quickly reprice.Inverse VIX products are "time bombs" in high volatility regimes; historically, XIV once crashed over 90%. Current VIX futures curve analysis warns it could surge to 40 (Iran conflict escalation scenario). In this environment, holding SVIX is extremely risky.The consistent signal from current options flow is—buy short-term UVXY calls to hedge against black swans, do not hold SVIX. The market is pricing in a volatility premium; VIX futures currently show a tendency towards backwardation (front month higher than back months), which itself is a characteristic of panic buying.$-1x Short VIX Futures ETF(SVIX.US) $Pro Ultr Cvix Shrt Futures(UVXY.US) $Pro Vix Shrt Fut(VIXY.US)"
datetime: "2026-04-07T11:08:08.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39741352.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39741352.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39741352.md)
author: "[风吹过第七页](https://longbridge.com/en/profiles/26880175.md)"
---

# The UVXY put/call ratio for open interest is about…


### Related Stocks

- [UVXY.US](https://longbridge.com/en/quote/UVXY.US.md)
- [SVIX.US](https://longbridge.com/en/quote/SVIX.US.md)
- [VIXY.US](https://longbridge.com/en/quote/VIXY.US.md)