ONX - Investment Managers Series Trust II - Tradr 2X Long ON Daily ETF
ONX is a short-term tactical tool that aims to deliver twice (200%) the daily performance of ON Semiconductor Corporation (Nasdaq: ON), before fees and expenses. The fund primarily enters into total return swap agreements with major global financial institutions that mirror ONs daily returns. In case swaps are unavailable or less efficient, the fund may use FLEX call options or directly hold ON stock.
As of Sep 29, 2026: spot at $6.89, ATM IV 153.0%, max pain $8.00, net GEX -$44.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $1.6M
- Beta
- 6.15
- 52-Week Range
- 5.29-28.75
- IPO Date
- May 28, 2026
- Exchange
- CBOE
What ONX Looks Like to Options Traders Today
negative net gamma exposure (-$44) means dealers hedge with trend, amplifying realized volatility and accelerating directional moves; the 25-delta skew (0.028) prices calls richer than puts, often reflecting upside speculation or squeeze risk.
What This Page Covers
The ONX 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 ONX overview questions
- What is ONX?
- ONX is the ticker symbol for Investment Managers Series Trust II - Tradr 2X Long ON Daily ETF, an listed exchange-traded fund. ONX is a short-term tactical tool that aims to deliver twice (200%) the daily performance of ON Semiconductor Corporation (Nasdaq: ON), before fees and expenses. The fund primarily enters into total return swap agreements with major global financial institutions that mirror ONs daily returns. Listed on CBOE. ONX 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 ONX options snapshot look like today?
- As of Sep 29, 2026, the ONX options snapshot shows spot at $6.89, ATM IV 153.0%, max pain $8.00, net GEX -$44, expected move 43.86%. 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 ONX's key statistics?
- Investment Managers Series Trust II - Tradr 2X Long ON Daily ETF (ONX) carries a market capitalization of $1.6M, 52-week range of 5.29-28.75. 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 ONX belong to?
- Investment Managers Series Trust II - Tradr 2X Long ON Daily ETF operates in the Financial Services sector, in the Asset Management 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 ONX'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 ONX 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.