DRAL - Defiance Daily Target 2X Long DRAM ETF

The fund has adopted a policy to have at least 80% exposure to financial instruments with economic characteristics that should perform 2X the daily performance of the Underlying Security’s shares. It is expected to allocate between 40% and 60% of its assets as collateral for swap agreements or as premiums for purchased options contracts. The fund is non-diversified.

As of Sep 29, 2026: spot at $11.87, ATM IV 113.4%, max pain $11.00, net GEX $4.9K.

Sector
Technology
Industry
Semiconductors
Market Cap
$20.9M
Beta
0.00
52-Week Range
7.04-25.52
IPO Date
Jun 25, 2026
Exchange
CBOE

What DRAL Looks Like to Options Traders Today

positive net gamma exposure ($4.9K) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (0.085) prices calls richer than puts, often reflecting upside speculation or squeeze risk.

What This Page Covers

The DRAL 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.

Frequently asked DRAL overview questions

What is DRAL?
DRAL is the ticker symbol for Defiance Daily Target 2X Long DRAM ETF, an listed exchange-traded fund. The fund has adopted a policy to have at least 80% exposure to financial instruments with economic characteristics that should perform 2X the daily performance of the Underlying Security’s shares. It is expected to allocate between 40% and 60% of its assets as collateral for swap agreements or as premiums for purchased options contracts. Listed on CBOE. DRAL 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 does the DRAL options snapshot look like today?
As of Sep 29, 2026, the DRAL options snapshot shows spot at $11.87, ATM IV 113.4%, max pain $11.00, net GEX $4.9K, expected move 32.51%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
What are DRAL's key statistics?
Defiance Daily Target 2X Long DRAM ETF (DRAL) carries a market capitalization of $20.9M, 52-week range of 7.04-25.52. 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 DRAL belong to?
Defiance Daily Target 2X Long DRAM ETF operates in the Technology sector, in the Semiconductors 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 DRAL'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 DRAL data on this page?
The options snapshot above is dated Sep 29, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. 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.