Defiance Daily Target 2X Long IONQ ETF (IONX) IV/HV History

Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.

Defiance Daily Target 2X Long IONQ ETF (IONX) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $10.5M, listed on NASDAQ, employing roughly 152 people, carrying a beta of 10.15 to the broader market. The Fund seeks daily leveraged investment results of 2x (200%) the daily percentage change in the share price of IonQ, Inc. Led by Li Cheng, public since 2025-03-12.

Snapshot as of Jul 15, 2026.

Spot Price

$24.11

ATM IV

192.7%

HV 20-Day

152.3%

HV 60-Day

198.1%

IV Rank

50.2%

IV Percentile

68.3%

As of Jul 15, 2026, Defiance Daily Target 2X Long IONQ ETF (IONX) ATM implied volatility is 192.7%. 20-day realized volatility is 152.3%, producing an IV-HV spread of +40.4 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 50.2%.

How IONX iv/hv history Data Feeds Strategy Selection

Strategy selection on Defiance Daily Target 2X Long IONQ ETF options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 192.7% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the iv/hv 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 IONX IV vs HV chart

The dual-line chart above tracks ATM implied volatility (forward-looking, what the chain is pricing) against 20-day realized historical volatility (backward-looking, what actually happened). ATM IV currently prints at 192.7%, 50.2% IV rank, against 152.3% realized over the trailing 20 trading days. Implied is pricing above realized by 40.4 vol points, the typical variance-risk-premium positive state in which premium sellers earn the gap. Persistent IV-above-HV is the variance-risk-premium-positive state typical of equity markets; persistent IV-below-HV is rare and usually marks underpriced vol that often expands.

IONX IV/HV regimes and trade selection

IONX IV rank at 50.2% sits mid-range - no structural edge from rank alone. Strategy choice should follow event calendar and the dealer-positioning read.

Using IONX vol history alongside the term structure

The IV/HV gap on this page captures the level of premium; the term-structure slope on the volatility page captures its shape across expirations. Backwardation (negative slope -0.024) indicates acute near-term event risk - near-dated tenors price disproportionate vol. Pair the rank read with the slope read with the event calendar to choose the right tenor for the structure.

IONX IV/HV signal in volatility-cycle context

Equity-vol cycles tend to compress and expand on multi-month timeframes: a typical sequence runs low-IV-rank consolidation (months of flat tape, decaying premium) into a vol-expansion catalyst (earnings miss, macro shock, regime change) into elevated-IV-rank stress (premiums fat, dispersion high) back to mean-reverting compression. IONX's 50.2% IV rank places the ticker in the mid-range of its 1-year window - no strong cycle-position signal. The ratio of HV-20 (152.3%) to HV-60 (198.1%) gives a second cycle indicator: when 20-day exceeds 60-day, recent realization is running hotter than the trailing-quarter average - typically a sign that recent days have already started expanding vol regardless of where IV rank prints. Use the time series above to spot inflection points: meaningful IV/HV gap closures and openings tend to precede regime shifts by a few sessions.

Learn how implied vs realized volatility is reported and how to read the data →

Daily ATM implied volatility and 20-day realized (historical) volatility for IONX over the last ~31 trading days. The IV-HV gap measures the variance risk premium - when IV trades persistently above realized HV, premium-sellers earn the spread; when IV dips below HV, vol is structurally underpriced.

Most recent 15 trading days (descending). Older history appears in the chart above.

Frequently asked IONX iv/hv history questions

Is IONX options pricing rich or cheap right now?

As of Jul 15, 2026, Defiance Daily Target 2X Long IONQ ETF (IONX) ATM IV is 192.7% against 20-day realized volatility of 152.3%. IV rank is 50.2%. IONX options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 40.4 vol points.

What is the IONX variance risk premium?

The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. IONX is currently priced consistently with this premium, which is one input to whether short-vol or long-vol structures carry their typical edge.

What does IONX IV rank mean for strategy selection?

IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. IONX's current rank of 50.2% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.