GraniteShares 2x Long QCOM Daily ETF (QCML) Volatility Skew
Implied volatility skew shows how IV varies across strike prices for a given expiration. Steeper skews indicate higher demand for downside protection relative to upside speculation.
GraniteShares 2x Long QCOM Daily ETF (QCML) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $8.0M, listed on NASDAQ, carrying a beta of 4.70 to the broader market. The Fund seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the common stock of Qualcomm Inc, (NASDAQ: QCOM) There is no guarantee that the Fund will meet its stated objective. public since 2025-04-03.
Snapshot as of May 15, 2026.
- Spot Price
- $26.67
- ATM IV
- 144.1%
- IV Skew 25Δ
- -0.122
- IV Rank
- 22.1%
- IV Percentile
- 96.8%
- Term Structure Slope
- -0.047
As of May 15, 2026, GraniteShares 2x Long QCOM Daily ETF (QCML) at-the-money implied volatility is 144.1%. IV rank is 22.1% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 96.8%. The 25-delta skew is -0.122: puts carry meaningful premium over calls, a classic equity downside-protection skew. High IV rank typically favors premium-selling strategies; low IV rank favors premium-buying.
QCML Strategy Selection at Current Volatility Levels
For GraniteShares 2x Long QCOM Daily ETF options at 144.1% ATM IV, low IV rank (22.1%) favors premium-buying or long-vol structures: long calls or puts, debit spreads, calendar spreads, long straddles. The risk: low-rank regimes can persist for months while time decay eats premium-buyers alive. The 25-delta skew is meaningfully put-skewed, so put-credit spreads capture more premium for the same width than call-credit spreads. Pair the vol-rank read with the dealer-gamma view and the upcoming-events calendar to confirm the strategy fits both the structural regime and the path-dependent risk. The variance risk premium - the persistent gap between implied and subsequently realized vol - is positive in equity markets on average; high IV rank typically reflects a stretch where the premium is wider than usual.
Learn how volatility skew is reported and how to read the data →
Frequently asked QCML volatility skew questions
- What is the current QCML ATM implied volatility?
- As of May 15, 2026, GraniteShares 2x Long QCOM Daily ETF (QCML) at-the-money implied volatility is 144.1%. IV rank is 22.1% on a 0-100% scale anchored to the 1-year IV range. ATM IV is the volatility input that makes a Black-Scholes-equivalent model reproduce the listed at-the-money option prices.
- Is QCML IV high or low historically?
- IV is subdued relative to its 1-year history, conditions that typically favor premium-buying strategies (long calls, long puts, debit spreads, calendar spreads).
- What does QCML volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. GraniteShares 2x Long QCOM Daily ETF carries the typical equity downside-protection skew: 25-delta puts price meaningfully richer than 25-delta calls. Skew matters for risk-defined strategy selection: when downside puts are rich, put-credit spreads capture more premium; when upside calls are rich, call-credit spreads or covered-call writes harvest more.