Defiance Daily Target 2X Short MSTR ETF (SMST)Trading--Inverse Equity | Exchange Traded Fund | NasdaqGM
14.41 USD
+1.21
(9.167%)
⇧
(Oct. 14, 2026, 11:43 a.m.
EDT)
|
Hot Take ↕ | Oct. 10, 2026, 8:59 a.m. EDT
This instrument is a high-octane contrarian vehicle designed to profit from the collapse of MicroStrategy, not a traditional investment. The data tells a brutal story: the fund has erased nearly 85% of its value in just one year, dragging its price from over $200 to roughly $13. While the recent price action shows a tentative recovery from rock bottom, the underlying mechanics remain dangerous. It is a daily leveraged short ETF; holding it beyond a few days introduces compounding decay that works relentlessly against the holder unless the underlying asset crashes further. The options market confirms this fear, with massive put walls sitting far above current prices, suggesting the crowd expects the carnage to continue. There is no dividend to cushion the blow, and the long-term outlook is structurally broken due to the leveraged inverse nature of the product combined with the massive drawdown. This is purely a tactical trade for those betting on a continued MSTR meltdown, not a buy-and-hold position. |
| Model | MAE |
|---|---|
| AutoARIMA ✓ | 0.850730 |
| AutoETS | 0.851692 |
| MSTL | 0.860380 |
| AutoTheta | 0.902881 |
Forecast horizon: 45 days | Selected: AutoARIMA
| Forecast Reliability | |
|---|---|
| Score | 23% |
| H-stat | 21.26 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.180 |
| Excess Kurtosis | -1.16 |
As of Oct. 10, 2026, 8:59 a.m. EDT: Speculators are positioning for continued volatility and downside protection rather than a rebound. Call volume is heavily skewed toward deep out-of-the-money strikes (33, 43, 54, 67), indicating bets on a massive spike, but these are dwarfed by the sheer size of put open interest walls at 29, 30, 48, and 90 strikes for later expirations. This suggests a 'crash' or 'capitulation' scenario is priced in, with traders buying insurance against further declines while hoping for a leveraged bounce. The IV spikes on extreme strikes confirm this asymmetric risk appetite.
| Attribute | Value |
|---|---|
| All Time High | 473.6 |
| All Time Low | 10.7 |
| Ask | 55.69 |
| Ask Size | 1 |
| Average Daily Volume10 Day | 1,496,630 |
| Average Daily Volume3 Month | 983,396 |
| Average Volume | 983,396 |
| Average Volume10Days | 1,496,630 |
| 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 | 14.48 |
| Day Low | 13.18 |
| Display Name | Daily Target 2X Short MSTR ETF |
| Dividend Yield | 0.0 |
| Esg Populated | 0 |
| Exchange | NGM |
| Exchange Data Delayed By | 15 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 27.3105 |
| Fifty Day Average Change | -12.900499 |
| Fifty Day Average Change Percent | -0.4723641 |
| Fifty Two Week Change Percent | -59.372116 |
| Fifty Two Week High | 154.159 |
| Fifty Two Week High Change | -139.749 |
| Fifty Two Week High Change Percent | -0.9065251 |
| Fifty Two Week Low | 10.7 |
| Fifty Two Week Low Change | 3.71 |
| Fifty Two Week Low Change Percent | 0.34672898 |
| Fifty Two Week Range | 10.7 - 154.159 |
| First Trade Date Milliseconds | 1,724,247,000,000 |
| Full Exchange Name | NasdaqGM |
| Fullday Change | 1.21 |
| Fullday Change Percent | 9.166667 |
| Fullday Price | 14.41 |
| 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 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 MSTR ETF |
| Market | us_market |
| Market State | REGULAR |
| Max Age | 86,400 |
| Message Board Id | finmb_1885249432 |
| Nav Price | 13.1219 |
| Net Assets | 31,539,532.0 |
| Net Expense Ratio | 1.38 |
| Open | 13.69 |
| Previous Close | 13.2 |
| Price Hint | 2 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | ETF |
| Region | US |
| Regular Market Change | 1.21 |
| Regular Market Change Percent | 9.166667 |
| Regular Market Day High | 14.48 |
| Regular Market Day Low | 13.18 |
| Regular Market Day Range | 13.18 - 14.48 |
| Regular Market Open | 13.69 |
| Regular Market Previous Close | 13.2 |
| Regular Market Price | 14.41 |
| Regular Market Time | 1,791,992,627 |
| Regular Market Volume | 968,913 |
| Short Name | Defiance Daily Target 2x Short |
| Source Interval | 15 |
| Symbol | SMST |
| Total Assets | 31,539,532 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Peg Ratio | None |
| Trailing Three Month Nav Returns | -83.04103 |
| Trailing Three Month Returns | -83.04103 |
| Triggerable | 1 |
| Two Hundred Day Average | 50.828976 |
| Two Hundred Day Average Change | -36.418976 |
| Two Hundred Day Average Change Percent | -0.7165003 |
| Type Disp | ETF |
| Volume | 968,913 |
| Yield | 0.0 |
| Ytd Return | -85.5233 |