REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX)Convertibles | Exchange Traded Fund | NasdaqGM
22.34 USD
Short-term: ★☆☆☆☆ | Long-term: ☆☆☆☆☆ | Dividends: ☆☆☆☆☆ |
Hot Take | April 18, 2026, 10:55 p.m. EDT
BMAX appears to be experiencing a 'debt trap' signal where the market is pricing in a failure of the conversion feature or a fundamental breakdown in the underlying Bitcoin price thesis, prompting heavy defensive put selling (capital allocation to downside protection) rather than bullish conviction. The combination of near-term price action stuck below key moving averages and the specific 'bear put ladder' options flow creates a bearish narrative exceeding the short neutral forecast model; this is a hold for defensive income play, not a directional trade. |
| Model | MAE |
|---|---|
| AutoTheta ✓ | 0.024857 |
| AutoARIMA | 0.032896 |
| AutoETS | 0.033104 |
| MSTL | 0.035538 |
Forecast horizon: 45 days | Selected: AutoTheta
| Forecast Reliability | |
|---|---|
| Score | 79% |
| H-stat | 0.44 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.652 |
| Excess Kurtosis | 0.43 |
As of April 18, 2026, 10:55 p.m. EDT: Options activity shows a distinct 'bear put ladder' characteristic. Heavy Open Interest (OI) is concentrated in deep in-the-money puts (e.g., 16, 17, 18, 19 strikes expiring 05/15 and 07/17) with significant debits indicated by negative distribution percentages, while call activity is virtually non-existent or negligible. This structure suggests speculators are generating income by selling at-the-money insurance on an asset perceived as range-bound or potentially dangerous, capping upside while betting on downside via the high OI walls below current price. ATM IV is extremely low on calls (~0.03), indicating aggressive cap on upside volatility forecasting by writers.
| Attribute | Value |
|---|---|
| All Time High | 33.2 |
| All Time Low | 22.0 |
| Ask | 23.4 |
| Ask Size | 1 |
| Average Daily Volume10 Day | 739 |
| Average Daily Volume3 Month | 733 |
| Average Volume | 733 |
| Average Volume10Days | 739 |
| Beta3 Year | 0.0 |
| Bid | 22.19 |
| Bid Size | 1 |
| Category | Convertibles |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 22.34 |
| Day Low | 22.34 |
| Dividend Yield | 0.0 |
| Esg Populated | 0 |
| Exchange | NGM |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 23.225185 |
| Fifty Day Average Change | -0.88518524 |
| Fifty Day Average Change Percent | -0.038113162 |
| Fifty Two Week Change Percent | -9.162945 |
| Fifty Two Week High | 33.2 |
| Fifty Two Week High Change | -10.860001 |
| Fifty Two Week High Change Percent | -0.32710844 |
| Fifty Two Week Low | 22.0 |
| Fifty Two Week Low Change | 0.34000015 |
| Fifty Two Week Low Change Percent | 0.015454552 |
| Fifty Two Week Range | 22.0 - 33.2 |
| First Trade Date Milliseconds | 1,741,959,000,000 |
| Full Exchange Name | NasdaqGM |
| Fund Family | REX Advisers, LLC |
| Fund Inception Date | 1,741,824,000 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Has Pre Post Market Data | 1 |
| Ipo Expected Date | 2,025-03-14 |
| Language | en-US |
| Legal Type | Exchange Traded Fund |
| Long Business Summary | The fund, under normal market conditions, will invest at least 80% of its net assets (plus any borrowings for investment purposes) in convertible bonds issued by companies that own bitcoin or bitcoin-linked financial instruments in their corporate treasury (“Bitcoin Corporate Treasury Companies”). The fund is non-diversified. |
| Long Name | REX Bitcoin Corporate Treasury Convertible Bond ETF |
| Market | us_market |
| Market State | CLOSED |
| Max Age | 86,400 |
| Message Board Id | finmb_1917958591 |
| Nav Price | 23.4979 |
| Net Assets | 5,879,346.0 |
| Net Expense Ratio | 1.14 |
| Open | 24.49 |
| Previous Close | 22.34 |
| Price Hint | 2 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | 0.0 |
| Regular Market Change Percent | 0.0 |
| Regular Market Day High | 22.34 |
| Regular Market Day Low | 22.34 |
| Regular Market Day Range | 22.34 - 22.34 |
| Regular Market Open | 24.49 |
| Regular Market Previous Close | 22.34 |
| Regular Market Price | 22.34 |
| Regular Market Time | 1,776,110,400 |
| Regular Market Volume | 1,721 |
| Short Name | REX Bitcoin Corporate Treasury |
| Source Interval | 15 |
| Symbol | BMAX |
| Total Assets | 5,879,346 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | 0.1499 |
| Trailing Three Month Returns | 0.1499 |
| Triggerable | 1 |
| Two Hundred Day Average | 25.68828 |
| Two Hundred Day Average Change | -3.34828 |
| Two Hundred Day Average Change Percent | -0.1303427 |
| Type Disp | ETF |
| Volume | 1,721 |
| Yield | 0.0 |
| Ytd Return | 0.1499 |