MSTX - Daily Target 2X Long MSTR ETF
The Defiance Daily Target 2X Long MSTR ETF (referred to as "the Fund") is designed to deliver daily investment returns that are two times (200%) the daily percentage change in the share price of MicroStrategy Incorporated (Nasdaq: MSTR). Distinct from most traditional exchange-traded funds, this Fund employs a leveraged, daily-resetting strategy, and there is no guarantee it will consistently meet its stated daily objective. Investors should be aware that its cumulative performance over periods longer than a single day will very likely not be double the cumulative return of MSTR.
As of Jun 30, 2026: spot at $7.43, ATM IV 191.6%, max pain $12.00, net GEX $31.8K.
- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Market Cap
- $21.2M
- Beta
- 4.12
- 52-Week Range
- 6.72-497.55
- Dividend Yield
- $14.43
- IPO Date
- Aug 15, 2024
- Exchange
- NASDAQ
What MSTX Looks Like to Options Traders Today
IV rank of 75.8% signals elevated pricing relative to the 1-year history, conditions that typically favor premium-selling structures (credit spreads, iron condors, covered calls); positive net gamma exposure ($31.8K) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (0.566) prices calls richer than puts, often reflecting upside speculation or squeeze risk.
What This Page Covers
The MSTX 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 MSTX overview questions
- What is MSTX?
- MSTX is the ticker symbol for Daily Target 2X Long MSTR ETF, an listed exchange-traded fund. The Defiance Daily Target 2X Long MSTR ETF (referred to as "the Fund") is designed to deliver daily investment returns that are two times (200%) the daily percentage change in the share price of MicroStrategy Incorporated (Nasdaq: MSTR). Distinct from most traditional exchange-traded funds, this Fund employs a leveraged, daily-resetting strategy, and there is no guarantee it will consistently meet its stated daily objective. Listed on NASDAQ. MSTX 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 MSTX options snapshot look like today?
- As of Jun 30, 2026, the MSTX options snapshot shows spot at $7.43, ATM IV 191.6%, IV rank 75.8%, max pain $12.00, net GEX $31.8K, expected move 54.93%. 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 MSTX's key statistics?
- Daily Target 2X Long MSTR ETF (MSTX) carries a market capitalization of $21.2M, 52-week range of 6.72-497.55. 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 MSTX belong to?
- Daily Target 2X Long MSTR ETF operates in the Financial Services sector, in the Asset Management - Leveraged 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 MSTX'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 MSTX data on this page?
- The options snapshot above is dated Jun 30, 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.