What does the SPCL options chain show right now?

As of Jul 15, 2026, Defiance Pure Space Daily 2X Strategy ETF (SPCL) has 1.1K contracts outstanding and 28 traded today, with ATM IV of 140.5%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.

What expirations are available for SPCL options?

The nearest expiration is 37 days out, followed by 65 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.

How tight are SPCL options bid/ask spreads?

Average bid/ask spread across the chain is 60.46%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.

Defiance Pure Space Daily 2X Strategy ETF (SPCL) Options Chain

The options chain displays all available contracts with real-time quotes, Greeks, volume, and open interest for each strike and expiration. It is the primary tool for options trade selection.

Defiance Pure Space Daily 2X Strategy ETF (SPCL) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $1.4M, listed on CBOE, carrying a beta of 0.00 to the broader market. SPCL is an exchange-traded fund designed to offer amplified exposure to a concentrated selection of companies within the burgeoning space economy. public since 2026-04-08.

Snapshot as of Jul 15, 2026.

Spot Price: $28.32
Total OI: 1.1K
Total Volume: 28
Front Expiration: 37 days
Second Expiration: 65 days
ATM IV: 140.5%
Avg Bid/Ask Spread: 60.46%

As of Jul 15, 2026, Defiance Pure Space Daily 2X Strategy ETF (SPCL) has 1.1K open contracts and 28 contracts traded. The nearest expiration is 37 days out, followed by 65 days. ATM implied volatility is 140.5%. Average bid/ask spread across the chain is 60.46%: wider spreads, size positions conservatively. The options chain aggregates every listed strike and expiration, letting traders evaluate skew, term structure, and liquidity in a single view.

How SPCL options chain Data Feeds Strategy Selection

Strategy selection on Defiance Pure Space Daily 2X Strategy ETF options does not derive from any single metric in isolation. The options chain view above sits inside a broader read: ATM IV currently sits at 140.5% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the options chain 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 SPCL chain depth

The listed-expirations table above shows every expiration available for Defiance Pure Space Daily 2X Strategy ETF options with its days-to-expiration count and ATM implied volatility. Front-month expirations carry the most volume, the highest gamma, and the tightest bid-ask spreads; longer-dated tenors carry less liquidity but more vega exposure. SPCL front expiration sits at 37 days - the typical hedging horizon for monthly options. The backwardated slope of -0.039 means near-dated IV is pricing acute event risk.

SPCL chain mechanics and execution

Options are listed at standardized strike intervals (typically $1 for sub-$25 underlyings, $2.50-$5 for mid-cap, $10-$50 for large-cap), and the deltas of each listed strike are determined by where IV lies relative to the strike's moneyness. Average bid/ask spread on the SPCL chain is 60.46% - a measure of liquidity. Tighter spreads on liquid strikes mean lower transaction costs; wider spreads on long-dated or far-OTM strikes mean execution drag can dominate the math. The chain table on the SPA side shows the full per-strike, per-expiration grid; this SSR page summarizes the listed expirations and the front-month context to anchor the structural read.

Using the SPCL chain to build structures

Strategy selection starts with the chain: directional theses use single-leg calls or puts, range-bound theses use credit spreads or iron condors, vol theses use straddles or strangles, calendar theses use diagonal spreads. SPCL's current 40.28% expected move anchors wing placement - structures with wings at the implied band collect the modal-outcome premium under lognormal assumptions. Cross-reference with the gamma-exposure profile to understand where dealer hedging will reinforce or fight your position, and with the volatility-skew chart to confirm the strikes you're trading sit at the IV levels your strategy assumes.

Learn how the options chain is reported and how to read the data →

SPCL listed expirations

Per-expiration ATM implied volatility for SPCL options. Each row is one listed expiration with its days-to-expiration count and ATM IV pulled from the same term-structure feed that powers the SPA's expiration filter. Front-month expirations carry the highest gamma, the tightest bid-ask spreads, and the most volume; longer-dated tenors carry less liquidity but more vega.

Expiration	DTE	ATM IV
Jul 17, 2026	2	125.3%
Aug 21, 2026	37	140.5%
Sep 18, 2026	65	136.6%
Dec 18, 2026	156	128.5%

Frequently asked SPCL options chain questions

What does the SPCL options chain show right now?: As of Jul 15, 2026, Defiance Pure Space Daily 2X Strategy ETF (SPCL) has 1.1K contracts outstanding and 28 traded today, with ATM IV of 140.5%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
What expirations are available for SPCL options?: The nearest expiration is 37 days out, followed by 65 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
How tight are SPCL options bid/ask spreads?: Average bid/ask spread across the chain is 60.46%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.