X-Square Municipal Income ETF (ZTAX) 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.

X-Square Municipal Income ETF (ZTAX) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $4.5M, listed on AMEX, carrying a beta of 0.20 to the broader market. Under normal market conditions, the fund invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes, if any) in tax-exempt municipal securities, the income from which is exempt from both federal and state income tax. public since 2023-05-19.

Volatility skew analysis compares implied volatility across strikes and expirations. No recent options activity for ZTAX as of 2026-06-01; this typically reflects low options liquidity, a recently listed name, or a temporary data feed delay. Snapshot will refresh on the next active session.

Learn how volatility skew is reported and how to read the data →