USCF Daily Target 2X Copper Index ETF (CPXR) Expected Move

Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.

USCF Daily Target 2X Copper Index ETF (CPXR) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $767,343, listed on AMEX, carrying a beta of 0.47 to the broader market. The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing principally in cash settled copper futures contracts (“Copper Futures Contracts”), and in cash, cash-like instruments or high-quality securities that serve as collateral to the Copper Futures Contracts (“Collateral Investments”). public since 2025-01-21.

Snapshot as of May 15, 2026.

Spot Price

$30.20

Expected Move

17.9%

Implied High

$35.60

Implied Low

$24.80

Front DTE

34 days

As of May 15, 2026, USCF Daily Target 2X Copper Index ETF (CPXR) has an expected move of 17.89%, a one-standard-deviation implied price range of roughly $24.80 to $35.60 from the current $30.20. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.

CPXR Strategy Sizing to the Expected Move

With USCF Daily Target 2X Copper Index ETF pricing an expected move of 17.89% from $30.20, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.

Learn how expected move is reported and how to read the data →

Per-expiration expected move for CPXR derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $30.20 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.

Frequently asked CPXR expected move questions

What is the current CPXR expected move?

As of May 15, 2026, USCF Daily Target 2X Copper Index ETF (CPXR) has an expected move of 17.89% over the next 34 days, implying a one-standard-deviation price range of $24.80 to $35.60 from the current $30.20. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.

What does the CPXR expected move mean for traders?

Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.

How is CPXR expected move calculated?

The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.