MSTP +2x GraniteShares 2x Long MSTR Daily ETF
MSTP
ETF +2x BULL standardGraniteShares 2x Long MSTR Daily ETF
Implied AUM
$6.7M
Last Close
$13.77
20260720
30d Avg Vol
75,507
Options
—
Realized return vs theoretical +2x MSTR
Pair counterpart found:
MSTZ
(-2x bear, T-Rex 2X Inverse MSTR Daily Target ETF)
Shorting both legs of a daily-reset bull/bear pair captures combined decay drift over time. Theoretical "free money" — actual edge depends on borrow rates (often punitive on the bear leg) and assignment risk on hard-to-borrow products.
Other leveraged products tracking MSTR
| Symbol | Factor | Direction | Issuer | Name | Implied AUM | 30d Vol | Options |
|---|---|---|---|---|---|---|---|
| MSTU | +2x | BULL | T-Rex | T-Rex 2X Long MSTR Daily Target ETF | $372.5M | 72,968,953 | |
| MSTX | +2x | BULL | Defiance | Tidal Trust II Defiance Daily Target 2x Long MSTR ETF | $171.1M | 7,618,916 | |
| MSTZ | -2x | BEAR | T-Rex | T-Rex 2X Inverse MSTR Daily Target ETF | $96.9M | 18,825,917 | |
| SMST | -2x | BEAR | Defiance | Tidal Trust II Defiance Daily Target 2x Short MSTR ETF | $30.4M | 329,763 | |
| MSDD | -2x | BEAR | GraniteShares | GraniteShares 2x Short MSTR Daily ETF | $1.9M | 14,469 |
How MSTP works
MSTP targets +2x the daily return of MSTR — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.
Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.
- Short-term tactical: daily and intraday holds are where these products were designed to live.
- Premium selling: options on MSTP carry very rich IV — see the quote page for IV rank and straddle pricing.
- Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.