T-REX 2X Long Tesla Daily Target ETF (TSLT) 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.
T-REX 2X Long Tesla Daily Target ETF (TSLT) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $229.5M, listed on CBOE, carrying a beta of 3.26 to the broader market. The fund, under normal circumstances, invests in swap agreements that provide 200% daily exposure to TSLA equal to at least 80% of its net assets (plus any borrowings for investment purposes). public since 2023-10-19.
Snapshot as of May 15, 2026.
- Spot Price
- $21.20
- ATM IV
- 89.8%
- IV Skew 25Δ
- -0.113
- IV Rank
- 18.0%
- IV Percentile
- 29.8%
- Term Structure Slope
- -0.002
As of May 15, 2026, T-REX 2X Long Tesla Daily Target ETF (TSLT) at-the-money implied volatility is 89.8%. IV rank is 18.0% (where 0% is the 52-week low and 100% is the 52-week high). IV percentile is 29.8%. The 25-delta skew is -0.113: 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.
TSLT Strategy Selection at Current Volatility Levels
For T-REX 2X Long Tesla Daily Target ETF options at 89.8% ATM IV, low IV rank (18.0%) 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.
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Frequently asked TSLT volatility skew questions
- What is the current TSLT ATM implied volatility?
- As of May 15, 2026, T-REX 2X Long Tesla Daily Target ETF (TSLT) at-the-money implied volatility is 89.8%. IV rank is 18.0% 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 TSLT 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 TSLT volatility skew tell options traders?
- Volatility skew is the pattern by which IV varies across strikes for a given expiration. T-REX 2X Long Tesla Daily Target 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.