Is TSLT options pricing rich or cheap right now?

As of Jul 15, 2026, T-REX 2X Long Tesla Daily Target ETF (TSLT) ATM IV is 96.2% against 20-day realized volatility of 124.0%. IV rank is 39.6%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.

What is the TSLT variance risk premium?

The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. TSLT is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.

What does TSLT IV rank mean for strategy selection?

IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. TSLT's current rank of 39.6% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.

T-REX 2X Long Tesla Daily Target ETF (TSLT) IV/HV History

Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.

T-REX 2X Long Tesla Daily Target ETF (TSLT) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $181.2M, listed on CBOE, carrying a beta of 3.39 to the broader market. This ETF aims to provide daily returns that are double the performance of Tesla (TSLA) stock. public since 2023-10-19.

Snapshot as of Jul 15, 2026.

Spot Price: $17.14
ATM IV: 96.2%
HV 20-Day: 124.0%
HV 60-Day: 100.7%
IV Rank: 39.6%
IV Percentile: 63.9%

As of Jul 15, 2026, T-REX 2X Long Tesla Daily Target ETF (TSLT) ATM implied volatility is 96.2%. 20-day realized volatility is 124.0%, producing an IV-HV spread of -27.8 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 39.6%.

How TSLT iv/hv history Data Feeds Strategy Selection

Strategy selection on T-REX 2X Long Tesla Daily Target ETF options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 96.2% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.

How to read the TSLT IV vs HV chart

The dual-line chart above tracks ATM implied volatility (forward-looking, what the chain is pricing) against 20-day realized historical volatility (backward-looking, what actually happened). ATM IV currently prints at 96.2%, 39.6% IV rank, against 124.0% realized over the trailing 20 trading days. Implied is currently below realized by 27.8 vol points, an inverted regime where premium buyers are underpaying for the move - rare and often a setup for IV expansion. Persistent IV-above-HV is the variance-risk-premium-positive state typical of equity markets; persistent IV-below-HV is rare and usually marks underpriced vol that often expands.

TSLT IV/HV regimes and trade selection

TSLT IV rank at 39.6% sits mid-range - no structural edge from rank alone. Strategy choice should follow event calendar and the dealer-positioning read.

Using TSLT vol history alongside the term structure

The IV/HV gap on this page captures the level of premium; the term-structure slope on the volatility page captures its shape across expirations. Backwardation (negative slope -0.026) indicates acute near-term event risk - near-dated tenors price disproportionate vol. Pair the rank read with the slope read with the event calendar to choose the right tenor for the structure.

TSLT IV/HV signal in volatility-cycle context

Equity-vol cycles tend to compress and expand on multi-month timeframes: a typical sequence runs low-IV-rank consolidation (months of flat tape, decaying premium) into a vol-expansion catalyst (earnings miss, macro shock, regime change) into elevated-IV-rank stress (premiums fat, dispersion high) back to mean-reverting compression. TSLT's 39.6% IV rank places the ticker in the mid-range of its 1-year window - no strong cycle-position signal. The ratio of HV-20 (124.0%) to HV-60 (100.7%) gives a second cycle indicator: when 20-day exceeds 60-day, recent realization is running hotter than the trailing-quarter average - typically a sign that recent days have already started expanding vol regardless of where IV rank prints. Use the time series above to spot inflection points: meaningful IV/HV gap closures and openings tend to precede regime shifts by a few sessions.

Learn how implied vs realized volatility is reported and how to read the data →

Daily ATM implied volatility and 20-day realized (historical) volatility for TSLT over the last ~31 trading days. The IV-HV gap measures the variance risk premium - when IV trades persistently above realized HV, premium-sellers earn the spread; when IV dips below HV, vol is structurally underpriced.

Daily values from end-of-day option_ticker_snapshots. Series sparse on illiquid tickers reflects gaps in the upstream end-of-day options data feed.

Most recent 15 trading days (descending). Older history appears in the chart above.

Date	ATM IV	HV 20d	HV 60d	IV Rank
Jul 15, 2026	96.2%	124.0%	100.7%	39.6%
Jul 14, 2026	96.6%	124.5%	100.8%	40.2%
Jul 13, 2026	98.0%	124.7%	105.4%	42.6%
Jul 10, 2026	88.8%	123.9%	104.8%	26.9%
Jul 9, 2026	91.1%	126.4%	104.7%	30.8%
Jul 8, 2026	92.8%	127.1%	104.2%	33.7%
Jul 7, 2026	100.4%	129.8%	103.7%	46.7%
Jul 6, 2026	94.7%	137.2%	102.6%	37.0%
Jul 2, 2026	90.6%	128.8%	100.0%	30.0%
Jul 1, 2026	86.6%	112.4%	93.3%	23.1%
Jun 30, 2026	86.7%	112.7%	96.3%	23.3%
Jun 29, 2026	93.3%	116.0%	96.2%	34.6%
Jun 26, 2026	86.2%	98.1%	92.9%	22.4%
Jun 25, 2026	89.6%	97.3%	93.2%	28.3%
Jun 24, 2026	87.1%	98.6%	94.1%	24.0%

Frequently asked TSLT iv/hv history questions

Is TSLT options pricing rich or cheap right now?: As of Jul 15, 2026, T-REX 2X Long Tesla Daily Target ETF (TSLT) ATM IV is 96.2% against 20-day realized volatility of 124.0%. IV rank is 39.6%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.
What is the TSLT variance risk premium?: The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. TSLT is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.
What does TSLT IV rank mean for strategy selection?: IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. TSLT's current rank of 39.6% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.