Options/SPCQ

SPCQDefiance Daily Target 2X Short SPCX ETF

Options Analysis Report

Market Cap: --|BATS

● 2026-08-31$12.93

VERY BULLISH

Analysis: 2026-08-28 EOD data

1Y +5.8%YTD +5.8%7D -10.2%

Options Vol

30D

Implied Move

±27.5%

IV Rank

SPCQ Options Overview

IV is elevated with bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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SPCQ Gamma Walls

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Value

Is IV priced right?

4.6

ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks3/9 checks passed

IV Rank

≤35%

IV Rank 96.3% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.46x — IV ≤ HV

Sector Relative≤50%

Sector percentile 96% — above sector median

Term Structure

<1.1x

Front/Back 0.88x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 102.9% — crisis-level IV

Spread-Adjusted Value

<80%

Effective IV 206.6% (ATM 102.9% + spread 51.9% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 83.69% (spread 51.85% + slippage 31.84%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.36 (vega 1.859 / spread 51.85%) — spread drag

Sentiment

Bullish or bearish?

8.6

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bullish - Moderate signal (Conviction: +61%, Raw: +67%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +61% (strong bullish) — Raw: +67%

OI Skew Magnitude

≥15%

|OI skew| 47.9% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +100.0%, OI skew +47.9% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +0%, ATM: +0%, OTM: +67% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 50% — neutral vs sector

Activity

Unusual activity?

3.5

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed

Volume Surge

≥1.5x

Volume 0.1x avg — normal

Turnover Rate

≥15%

Vol/OI 0.9% — normal turnover

Multi-Day Persistence

≥2 days

1 day(s) elevated — may be one-day event

OI Build

≥5%

OI change +10.3% (5d) — building

Sector Relative≥60%

Sector activity percentile 30% — below sector avg

Trade Quality

≥30%

Large trade volume 0% — mostly retail

Execution Urgency

≥60%

Aggressive execution 80% — highly urgent

Flow Conviction

≥30

Conviction +61 (bullish) — strong conviction

Liquidity

Can I trade efficiently?

2.1

IlliquidLiquid

Evaluates

bid-ask spreads

, volume depth, and open interest for trade execution quality.

Risk Checks1/8 checks passed

Tradeable Spread

≤5.0%

Spread 51.9% — wide

Adequate OI

≥10,000

OI 707 — thin

Active Volume

≥500

Volume 6/day — thin

Reasonable Cost

≤$0.50

$2.59 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 98% — much wider than sector

Order Book Depth

≥100 contracts

Depth 292.40000000000003 contracts (bid:235.8 ask:56.6) — adequate

Execution Quality

<1.0%

Avg slippage 31.84% — poor

Timing

Is now a good time?

7.6

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -12.2% — contango

IV Percentile Clarity

<30 or >70

IV percentile 96% — seller opportunity

Event Detection

≥10pts kink

IV kink -7.2pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 95.34 — favors income trades

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No earnings detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +61% @ 100% consistency — STRONG directional (bullish)

Smart Money Timing

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers

Long Calls7.2

bullishIV fair, bullish flow

Long Puts3.6

bearishIV fair, bullish flow

Premium Sellers

Cash-Secured Put6.2

bullishIV fair, bullish flow

Covered Call3.7

bearishIV fair, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on SPCQ

SPCQ gamma walls SPCQ max pain SPCQ IV rank SPCQ options flow