Defiance Daily Target 2X Long Copper Miners ETF (COPZ) Open Interest History
Open interest tracks the total number of outstanding options contracts. Rising OI alongside price moves can indicate growing commitment to the trend; declining OI suggests positions are being closed.
Defiance Daily Target 2X Long Copper Miners ETF (COPZ) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $958,767, listed on AMEX, carrying a beta of 3.20 to the broader market. COPZ uses swap agreements and short-dated listed call options to make bullish bets on the share price of the Global X Copper Miners ETF (COPX). Led by Arthur Millholland, public since 2026-02-17.
Snapshot as of Aug 28, 2026.
- Spot Price
- $19.53
- Call OI
- 38
- Put OI
- 62
- Total OI
- 100
As of Aug 28, 2026, Defiance Daily Target 2X Long Copper Miners ETF (COPZ) has 100 total contracts outstanding across all expirations. Put/call OI ratio is 1.63 (put-heavy positioning, often indicating hedging or bearish bias). Open interest reflects accumulated positions from prior sessions; persistent growth indicates sustained directional or hedging interest, while sharp drops typically mean post-expiration clean-up.
How COPZ open interest history Data Feeds Strategy Selection
Strategy selection on Defiance Daily Target 2X Long Copper Miners ETF options does not derive from any single metric in isolation. The open interest history view above sits inside a broader read: ATM IV currently sits at 85.7% and dealer gamma exposure is negative, so dealer hedging amplifies directional moves. Combine the open interest history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
How to read the COPZ open-interest data
The open-interest time-series above tracks the total Defiance Daily Target 2X Long Copper Miners ETF options inventory outstanding day by day. OI is a stock measure - the cumulative position count - so trends flag accumulating or distributing positioning. Total call OI of 38 versus put OI of 62 gives a put/call OI ratio of 1.63 - structurally a slower-moving signal than the volume-based ratio.
COPZ flow vs positioning
Volume tells you what flows happened today; OI tells you what positions accumulated. Both can move in opposite directions: rising volume with falling OI means contracts are being closed (covering); rising volume with rising OI means new positions are being opened. The combination matters more than either alone for reading sentiment. Combined with the current negative dealer-gamma regime, large OI clusters tend to act as price repellents that accelerate moves through key strikes.
Using COPZ OI/volume data alongside other surfaces
Per-strike OI is the input to dealer-gamma calculations: strikes with elevated call OI generate gamma walls that dealers must hedge into as spot approaches them. The gamma-exposure page combines this distribution with the dealers' assumed-long-gamma assumption to project hedge flow. Volume cross-checks recent positioning shifts in the chain that haven't yet shown up in cumulative OI. Pair both with the term-structure view on the volatility page to determine whether the activity is concentrated in near-dated event hedging or longer-dated structural positioning. Front-month expiration for COPZ sits at 21 days, so near-dated volume currently dominates the flow reading.
Learn how open interest is reported and how to read the data →
Daily open-interest history for COPZ options over the last ~4 trading days. Each row reflects the end-of-day total OI summed across all listed strikes and expirations.
Most recent 4 trading days (descending). Older history appears in the chart above.
| Date | Call OI | Put OI | Total OI | P/C OI |
|---|---|---|---|---|
| Aug 28, 2026 | 38 | 62 | 100 | 1.63 |
| Aug 27, 2026 | 18 | 62 | 80 | 3.44 |
| Aug 26, 2026 | 13 | 62 | 75 | 4.77 |
| Aug 25, 2026 | 13 | 62 | 75 | 4.77 |
Frequently asked COPZ open interest history questions
- What is the current COPZ options open interest?
- As of Aug 28, 2026, Defiance Daily Target 2X Long Copper Miners ETF (COPZ) has 100 total contracts outstanding across all listed expirations, split as 38 calls and 62 puts. Open interest reflects accumulated positions from prior trading sessions; it does not include today's volume until end-of-day reconciliation.
- What is the COPZ put/call open interest ratio?
- Put/call OI ratio of 1.63 is put-heavy, often indicating hedging demand or bearish positioning.
- What does COPZ open interest tell traders?
- Persistent OI growth indicates sustained directional or hedging interest; sharp drops typically mean post-expiration position cleanup. Heavy OI concentrations at specific strikes act as support and resistance levels because dealer hedging amplifies near those strikes - the gamma profile of the dealer book is concentrated there. Comparing today's volume to standing OI separates opening flow from closing flow.