STSM - Tidal Trust II - Defiance Daily Target 2X Short TSM ETF
STSM uses swap agreements to make bearish bets on Taiwan Semiconductor Manufacturing Company Limited's (NYSE: TSM) share price. TSM is a leading global semiconductor manufacturer that produces advanced integrated circuits for technology companies worldwide. The fund maintains a daily leveraged exposure equivalent to -200% of the fund's net assets through daily rebalancing.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $581,908
- Beta
- -1.99
- 52-Week Range
- 25.79-132.17
- IPO Date
- Nov 18, 2025
- Exchange
- AMEX
STSM Options Snapshot
Options pricing data for STSM is refreshed daily after the close. When listed contracts exist, this page surfaces the latest at-the-money implied volatility, max pain strike, dealer gamma exposure (GEX), and 25-delta skew. Listed contracts and live snapshots appear once the options chain has been published by the exchange for the most recent session.
What This Page Covers
The STSM 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.
STSM fund facts: expense ratio 1.31%, assets under management $1.0M, NAV $26.24 as of the data source's update on Oct 8, 2026, 6 holdings in its latest file, launched Nov 17, 2025, issued by Defiance. See the STSM holdings.
Frequently asked STSM overview questions
- What is STSM?
- STSM is the ticker symbol for Tidal Trust II - Defiance Daily Target 2X Short TSM ETF, an listed exchange-traded fund. STSM uses swap agreements to make bearish bets on Taiwan Semiconductor Manufacturing Company Limited's (NYSE: TSM) share price. TSM is a leading global semiconductor manufacturer that produces advanced integrated circuits for technology companies worldwide. Listed on AMEX. STSM 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 are STSM's key statistics?
- Tidal Trust II - Defiance Daily Target 2X Short TSM ETF (STSM) carries a market capitalization of $581,908, 52-week range of 25.79-132.17. 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 STSM belong to?
- Tidal Trust II - Defiance Daily Target 2X Short TSM 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 STSM'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 STSM data on this page?
- Options snapshots refresh after each trading session; if no snapshot is currently posted for STSM, it usually reflects low options liquidity or a recently listed name. 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.