PANG - Leverage Shares 2x Long PANW Daily ETF
This investment vehicle, known by its ticker PANG, is an Exchange Traded Fund (ETF) offered by Leverage Shares. It's specifically structured as a 2x daily leveraged "bull" product, primarily designed for active market participants who aim to significantly amplify their short-term trading outcomes. The fund endeavors to deliver twice the daily percentage performance of PANW stock, prior to the deduction of its operating fees and expenses.
As of Jun 30, 2026: spot at $31.95, ATM IV 100.1%, max pain $21.00, net GEX $5.6K.
- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Market Cap
- $7.0M
- Beta
- 3.85
- 52-Week Range
- 6.05-25.88
- Dividend Yield
- $1.30
- IPO Date
- Mar 21, 2025
- Exchange
- NASDAQ
What PANG Looks Like to Options Traders Today
IV rank of 15.7% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); positive net gamma exposure ($5.6K) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (0.227) prices calls richer than puts, often reflecting upside speculation or squeeze risk.
What This Page Covers
The PANG 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 PANG overview questions
- What is PANG?
- PANG is the ticker symbol for Leverage Shares 2x Long PANW Daily ETF, an listed exchange-traded fund. This investment vehicle, known by its ticker PANG, is an Exchange Traded Fund (ETF) offered by Leverage Shares. It's specifically structured as a 2x daily leveraged "bull" product, primarily designed for active market participants who aim to significantly amplify their short-term trading outcomes. Listed on NASDAQ. PANG 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 PANG options snapshot look like today?
- As of Jun 30, 2026, the PANG options snapshot shows spot at $31.95, ATM IV 100.1%, IV rank 15.7%, max pain $21.00, net GEX $5.6K, expected move 28.70%. 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 PANG's key statistics?
- Leverage Shares 2x Long PANW Daily ETF (PANG) carries a market capitalization of $7.0M, 52-week range of 6.05-25.88. 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 PANG belong to?
- Leverage Shares 2x Long PANW Daily 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 PANG'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 PANG 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.