CBTJ - Calamos Bitcoin 80 Series Structured Alt Protection ETF - January
CBTJ actively manages options and collateral in a way designed to track the positive price return of spot bitcoin up to a cap, while providing protection against a loss exceeding 20%, over a one-year period. It uses the BRRNY, a benchmark index, to determine the cap. The fund employs two portfolio construction methods: one involving US Treasuries, options, and cash equivalents and the other using options and cash equivalents.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $24.2M
- Beta
- 0.61
- 52-Week Range
- 17.22-28.8
- Dividend Yield
- $0.32
- IPO Date
- Feb 4, 2025
- Exchange
- CBOE
CBTJ Options Snapshot
Options pricing data for CBTJ is refreshed daily after the close. When listed contracts exist, this page surfaces the latest at-the-money implied volatility, max pain strike, dealer gamma exposure (GEX), and 25-delta skew. Listed contracts and live snapshots appear once the options chain has been published by the exchange for the most recent session.
What This Page Covers
The CBTJ overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
CBTJ fund facts: expense ratio 0.69%, assets under management $25.9M, NAV $20.69 as of the data source's update on Oct 8, 2026, launched Feb 4, 2025, issued by Calamos. See the CBTJ holdings.
Frequently asked CBTJ overview questions
- What is CBTJ?
- CBTJ is the ticker symbol for Calamos Bitcoin 80 Series Structured Alt Protection ETF - January, an listed exchange-traded fund. CBTJ actively manages options and collateral in a way designed to track the positive price return of spot bitcoin up to a cap, while providing protection against a loss exceeding 20%, over a one-year period. It uses the BRRNY, a benchmark index, to determine the cap. Listed on CBOE. CBTJ is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What are CBTJ's key statistics?
- Calamos Bitcoin 80 Series Structured Alt Protection ETF - January (CBTJ) carries a market capitalization of $24.2M, 52-week range of 17.22-28.8. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does CBTJ belong to?
- Calamos Bitcoin 80 Series Structured Alt Protection ETF - January operates in the Financial Services sector, in the Asset Management industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare CBTJ's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the CBTJ data on this page?
- Options snapshots refresh after each trading session; if no snapshot is currently posted for CBTJ, it usually reflects low options liquidity or a recently listed name. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.