Defiance Daily Target 2X Short MSTR ETF (SMST)Trading--Inverse Equity | Exchange Traded Fund | NasdaqGM
26.30 USD
+3.34
(14.547%)
⇧
(Aug. 28, 2026, 4 p.m.
EDT)
After hours: 26.05 -0.25 (-0.250%) ⇩ (Aug. 28, 2026, 7:58 p.m. EDT) |
Hot Take ↕ | Aug. 22, 2026, 4:42 a.m. EDT
This instrument is a leveraged inverse bet on MicroStrategy that has suffered a catastrophic collapse, dropping nearly 94% in a single year. The recent price action shows a violent capitulation event, with the share price plummeting from the mid-$50s to the low $30s in just two trading sessions, indicating a breakdown of the last remaining support levels. While the leverage offers explosive potential if the underlying Bitcoin rally resumes, the current setup is deeply distressed. Options flow confirms this fear, with traders buying deep protection while call buyers are mostly waiting for a miracle reversal. For a standard investment thesis, this is a value trap; the business quality of the underlying asset is irrelevant here because the structure is a daily-resetting leveraged short that compounds losses during any period of stability or recovery. The lack of dividends and the sheer magnitude of the drawdown make holding this position a high-risk gamble rather than a strategic allocation. |
| Model | MAE |
|---|---|
| AutoARIMA ✓ | 0.589825 |
| AutoETS | 0.594187 |
| MSTL | 0.597039 |
| AutoTheta | 0.635069 |
Forecast horizon: 45 days | Selected: AutoARIMA
| Forecast Reliability | |
|---|---|
| Score | 28% |
| H-stat | 2.15 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.469 |
| Excess Kurtosis | 0.88 |
As of Aug. 22, 2026, 4:42 a.m. EDT: Speculators are aggressively positioning for further downside, evidenced by massive put volume at the $29 strike and heavy open interest walls far out-of-the-money at $170-$175. Call activity is sparse and concentrated at extreme strikes ($195-$200), suggesting a 'barbell' strategy where traders bet on a potential massive rebound or a continued crash, but the immediate skew is overwhelmingly bearish.
| Attribute | Value |
|---|---|
| All Time High | 473.6 |
| All Time Low | 17.59 |
| Ask | 55.69 |
| Ask Size | 1 |
| Average Daily Volume10 Day | 881,760 |
| Average Daily Volume3 Month | 400,706 |
| Average Volume | 400,706 |
| Average Volume10Days | 881,760 |
| Beta3 Year | 0.0 |
| Bid | 51.41 |
| Bid Size | 1 |
| Category | Trading--Inverse Equity |
| Crypto Tradeable | 0 |
| Currency | USD |
| Custom Price Alert Confidence | HIGH |
| Day High | 26.67 |
| Day Low | 23.5 |
| 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 | 56.34424 |
| Fifty Day Average Change | -30.044239 |
| Fifty Day Average Change Percent | -0.5332265 |
| Fifty Two Week Change Percent | -4.985547 |
| Fifty Two Week High | 154.159 |
| Fifty Two Week High Change | -127.85899 |
| Fifty Two Week High Change Percent | -0.8293969 |
| Fifty Two Week Low | 21.68 |
| Fifty Two Week Low Change | 4.619999 |
| Fifty Two Week Low Change Percent | 0.21309958 |
| Fifty Two Week Range | 21.68 - 154.159 |
| First Trade Date Milliseconds | 1,724,247,000,000 |
| Full Exchange Name | NasdaqGM |
| Fullday Change | 3.34 |
| Fullday Change Percent | 14.547 |
| Fullday Price | 26.05 |
| Fund Family | Defiance ETFs LLC |
| Fund Inception Date | 1,724,112,000 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Has Pre Post Market Data | 1 |
| Ipo Expected Date | 2,024-08-21 |
| Language | en-US |
| Legal Type | Exchange Traded Fund |
| Long Business Summary | The fund advisor has adopted a policy to have at least 80% of its investment exposure to financial instruments with economic characteristics that should provide 2 times the inverse exposure to the daily performance of the underlying security. The fund is non-diversified. |
| Long Name | Defiance Daily Target 2X Short MSTR ETF |
| Market | us_market |
| Market State | CLOSED |
| Max Age | 86,400 |
| Message Board Id | finmb_1885249432 |
| Nav Price | 23.0232 |
| Net Assets | 28,388,592.0 |
| Net Expense Ratio | 1.31 |
| Open | 24.03 |
| Post Market Change | -0.25 |
| Post Market Change Percent | -0.95057034 |
| Post Market Price | 26.05 |
| Post Market Time | 1,787,961,505 |
| Previous Close | 22.96 |
| Price Hint | 2 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | 3.34 |
| Regular Market Change Percent | 14.547 |
| Regular Market Day High | 26.67 |
| Regular Market Day Low | 23.5 |
| Regular Market Day Range | 23.5 - 26.67 |
| Regular Market Open | 24.03 |
| Regular Market Previous Close | 22.96 |
| Regular Market Price | 26.3 |
| Regular Market Time | 1,787,947,200 |
| Regular Market Volume | 1,543,882 |
| Short Name | Defiance Daily Target 2x Short |
| Source Interval | 15 |
| Symbol | SMST |
| Total Assets | 28,388,592 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | 87.1907 |
| Trailing Three Month Returns | 87.1907 |
| Triggerable | 1 |
| Two Hundred Day Average | 59.43439 |
| Two Hundred Day Average Change | -33.13439 |
| Two Hundred Day Average Change Percent | -0.5574953 |
| Type Disp | ETF |
| Volume | 1,543,882 |
| Yield | 0.0 |
| Ytd Return | -35.45136 |