Defiance Daily Target 2X Short IONQ ETF (IONZ)Trading--Inverse Equity | Exchange Traded Fund | NasdaqGM
6.74 USD
-0.46
(-6.389%) ⇩
(April 17, 2026, 4 p.m.
EDT)
After hours: 6.82 +0.08 (1.191%) ⇧ (April 17, 2026, 7:59 p.m. EDT) Short-term: ★★★★★ | Long-term: ☆☆☆☆☆ | Dividends: ☆☆☆☆☆ |
Hot Take | April 19, 2026, 12:57 a.m. EDT
IONZ is a dangerous instrument for retail due to its lack of dividends, massive decay, and current severe downside momentum. The recent price action shows a catastrophic drop from ~$29.88 to ~$6.74 in two weeks—a roughly 77% decline for a 2x short fund. This implies the underlying IONQ dropped ~38%, likely due to the 'Big Tech Woes' mentioned in news, specifically concerning Quantum's competition or AI catalysts. While the fund is mathematically 'winning' on paper against its inverse benchmark, the current price level is 93% below its 50-day average ($22.59) and trading at the 52-week low. There is no fundamental support; it is a valueless leveraged note on a volatile tech theme. The options market is positioning for further drops in the underlying or further spikes in volatility, both of which maintain the pressure on IONZ prices. Holders are gambling on a short-term fee-grind; they are being decimated by the compounding leverage. |
| Model | MAE |
|---|---|
| AutoETS ✓ | 0.275152 |
| AutoARIMA | 0.275158 |
| MSTL | 0.291106 |
| AutoTheta | 0.409685 |
Forecast horizon: 45 days | Selected: AutoETS
| Forecast Reliability | |
|---|---|
| Score | 46% |
| H-stat | 1.17 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.000 |
| Excess Kurtosis | 3.91 |
As of April 19, 2026, 12:57 a.m. EDT: There is a massive bearish sentiment expressed in options flow. Puts show overwhelming 'ITM positioning' vs Calls, which is atypical for a standard bearish setup on this inverse ETF (which already profits from declines). The imbalance suggests speculators are positioned to profit if the *underlying* (IONQ) rallies significantly, thereby causing IONZ to crash deeper, or they are heavy sellers of the underlying volatility. Specifically, there is new, high-volume flow into far-out-of-the-money puts (Strikes 35-40 with massive volume) and distant-dated long-dated puts, indicating a strong hedge or gamble against a recovery in the underlying sector. The ATM IV on Calls is low (0.13 vs 0.25 on Puts), while OTM IV is elevated, highlighting skew favoring downside protection.
| Attribute | Value |
|---|---|
| All Time High | 137.712 |
| All Time Low | 6.55 |
| Ask | 6.78 |
| Ask Size | 1 |
| Average Daily Volume10 Day | 9,009,900 |
| Average Daily Volume3 Month | 2,922,196 |
| Average Volume | 2,922,196 |
| Average Volume10Days | 9,009,900 |
| Beta3 Year | 0.0 |
| Bid | 6.68 |
| Bid Size | 1 |
| Category | Trading--Inverse Equity |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 7.44 |
| Day Low | 6.5503 |
| Esg Populated | 0 |
| Exchange | NGM |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 22.1496 |
| Fifty Day Average Change | -15.409599 |
| Fifty Day Average Change Percent | -0.6957056 |
| Fifty Two Week Change Percent | -94.47233 |
| Fifty Two Week High | 137.712 |
| Fifty Two Week High Change | -130.972 |
| Fifty Two Week High Change Percent | -0.95105726 |
| Fifty Two Week Low | 6.55 |
| Fifty Two Week Low Change | 0.18999958 |
| Fifty Two Week Low Change Percent | 0.029007569 |
| Fifty Two Week Range | 6.55 - 137.712 |
| First Trade Date Milliseconds | 1,750,771,800,000 |
| Full Exchange Name | NasdaqGM |
| Fund Family | Defiance ETFs LLC |
| Fund Inception Date | 1,750,636,800 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Has Pre Post Market Data | 1 |
| Ipo Expected Date | 2,025-06-24 |
| Language | en-US |
| Legal Type | Exchange Traded Fund |
| Long Business Summary | The fund is an actively managed exchange traded fund that attempts to achieve 2 times the inverse (-200%) of the daily percentage change in the price of the underlying security by employing derivatives, namely swap agreements and/or listed options contracts. The fund is non-diversified. |
| Long Name | Defiance Daily Target 2X Short IONQ ETF |
| Market | us_market |
| Market State | CLOSED |
| Max Age | 86,400 |
| Message Board Id | finmb_1935475727 |
| Nav Price | 6.7382 |
| Net Assets | 16,998,854.0 |
| Net Expense Ratio | 1.29 |
| Open | 7.29 |
| Post Market Change | 0.08030033 |
| Post Market Change Percent | 1.1913996 |
| Post Market Price | 6.8203 |
| Post Market Time | 1,776,470,393 |
| Previous Close | 7.2 |
| Price Hint | 2 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | -0.46 |
| Regular Market Change Percent | -6.38889 |
| Regular Market Day High | 7.44 |
| Regular Market Day Low | 6.5503 |
| Regular Market Day Range | 6.5503 - 7.44 |
| Regular Market Open | 7.29 |
| Regular Market Previous Close | 7.2 |
| Regular Market Price | 6.74 |
| Regular Market Time | 1,776,456,001 |
| Regular Market Volume | 15,790,259 |
| Short Name | Defiance Daily Target 2x Short |
| Source Interval | 15 |
| Symbol | IONZ |
| Total Assets | 16,998,854 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | 8.83369 |
| Trailing Three Month Returns | 8.83369 |
| Triggerable | 1 |
| Two Hundred Day Average | 40.2924 |
| Two Hundred Day Average Change | -33.5524 |
| Two Hundred Day Average Change Percent | -0.8327228 |
| Type Disp | ETF |
| Volume | 15,790,259 |
| Ytd Return | 8.83369 |