Zacks Investment ResearchT3·29mo ago
BITI ProShares Short Bitcoin ETF
ETF 18.09 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
BITI
$18.09
—
Key stats
$18.09
After hours
$18.12
+0.17%
- 52-Week Range
- $16.86 – $30.93
- YTD
- -19.88%
- IV Rank (30D)
- 39.48
- Straddle Price
- $1.55
- P/C Vol Ratio
- 0.41
- Open
- $18.02
- Day Range
- $17.99 – $18.21
- Volume
- 1,292,299
- Prev Close
- $17.43
About
ProShares Short Bitcoin ETF (BITI) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2022-06-21
- Has Options
- Yes
Fund profile
holdings as of Oct 21, 2026issuer datathrough May 2026flows, SEC filings
Resets to −1x its benchmark's return each day. Over longer periods the result compounds and can differ sharply from −1x the benchmark, especially when it is volatile. Decay analysis
- Expense ratio
- 1.03% prospectus, filed Apr 25, 2025
- Assets
- $177M SEC filing, May 31, 2026
- Trailing yield
- 31.96% paid monthly
- Average daily volume
- $27M 30 sessions
- Holdings
- 3 top 10 are 0.0%
- Listed
- Jun 21, 2022 NYSE Arca
- Last fee change
- -30 bp filed Sep 26, 2024
Cost40
Liquidity81
Scale46
Diversificationn/a
Moves with. Bitcoin (96% of its variance, beta -1.00). These factors explain 97% of its daily moves over the last year.
Stated objective. ProShares Short Bitcoin ETF (the Fund) seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Bloomberg Bitcoin Index (the Index). (from the fund's prospectus)
All 3 holdingsFlow historyOverlap toolAll Leveraged & Inverse Crypto ETFs
Fund flows
through May 2026SEC filings- May 2026
- −$14M latest reported month
- Latest 3 months
- +$62M +35.1% of assets
- Latest 12 months
- +$81M +45.5% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | −$14M |
| Apr 2026 | +$45M |
| Mar 2026 | +$31M |
| Feb 2026 | −$8.3M |
| Jan 2026 | +$8.1M |
| Dec 2025 | −$26M |
| Nov 2025 | +$35M |
| Oct 2025 | +$14M |
| Sep 2025 | −$1.4M |
| Aug 2025 | −$4.1M |
| Jul 2025 | +$5.4M |
| Jun 2025 | −$4.0M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 48 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BITX2x Bitcoin ETF | — | 2.75% | $1.0B | −60.9% | compare |
| ETHU2x Ether ETF | — | 2.97% | $791M | −77.5% | compare |
| BITUProShares Ultra Bitcoin ETF | — | 0.95% | $447M | −68.6% | compare |
| SBITProShares UltraShort Bitcoin ETF | — | — | $204M | −2.1% | compare |
| ETHTProShares Ultra Ether ETF | — | — | $199M | −79.2% | compare |
The largest other funds in the Leveraged & Inverse Crypto category.
Under the hood
fiscal year to May 31, 2026SEC census- Authorized participants
- 6 active of 39 with agreements; top 3 did 69%
- Created · redeemed
- $295M · $214M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 10,000 shares
- Securities lending
- authorized, none lent
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-21
Holdings
3
AUM
$4,476
Provider
ProShares
Inception
2022-06-21
Exchange
ARCX
Data As Of
2026-10-21
Expense Ratio
1.03%
Dividend Yield
31.96%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-07 | $0.0390 | CD |
| 2026-09-01 | 2026-09-08 | $0.3762 | CD |
| 2026-08-03 | 2026-08-07 | $1.3293 | CD |
| 2026-07-01 | 2026-07-08 | $1.4488 | CD |
| 2026-06-01 | 2026-06-05 | $0.2381 | CD |
| 2026-05-01 | 2026-05-07 | $0.1970 | CD |
Asset Allocation
Top Holdings
top 3 of 3 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| IQMM | PROSHARES GENIUS MNY MKT ETF | 71.24% | Cash/Money Market | — |
| — | Net Other Assets (Liabilities) | 28.76% | Cash/Money Market | — |
| — | CME BITCOIN FUT DIGITAL ASSETS 30/OCT/2026 BTCV6 CURNCY | -99.99% | Derivative | — |
Non-Equity Breakdown
ProShares Short Bitcoin ETF ·
NPORT-P period 2026-05-31
(filed 2026-07-28)
Net assets:
$177M
· 6 total positions
· equity 0.00%
· non-equity 60.22%
Non-equity holdings
— 6 positions,
60.22% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Repurchase agreement | 29.03% | $51.5M | 4 |
| Other | 28.23% | $50.1M | 1 |
| Derivative (commodity) | 2.97% | $5.3M | 1 |
Chart
Seasonality
| Month | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|
| Jan | -- | -29.85% | 4.65% | -4.44% | 6.24% | -5.85% |
| Feb | -- | 1.07% | -31.23% | 19.21% | 14.06% | 0.78% |
| Mar | -- | -23.91% | -13.67% | 2.38% | 0.83% | -8.59% |
| Apr | -- | -4.83% | 16.96% | -11.18% | -11.06% | -2.53% |
| May | -- | 2.22% | -16.69% | -7.57% | 6.74% | -3.83% |
| Jun | 10.14% | -13.10% | 15.10% | -2.86% | 20.01% | 5.86% |
| Jul | -22.87% | 7.36% | -4.26% | -9.70% | -4.65% | -6.82% |
| Aug | 11.94% | 11.39% | 3.95% | 4.06% | -19.76% | 2.32% |
| Sep | -2.15% | -4.86% | -9.47% | -3.11% | -8.37% | -5.59% |
| Oct | -4.91% | -19.99% | -12.53% | 6.33% | 4.15%* | -5.39% |
| Nov | 8.54% | -8.24% | -31.34% | 15.83% | -- | -3.80% |
| Dec | 0.23% | -8.43% | 1.69% | -3.14% | -- | -2.41% |
| Total | -3.74% | -65.12% | -61.66% | 1.02% | 1.64% | -25.57% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $17.71
SMA 50: $18.89
SMA 200: $23.47
Current: $18.09
EMA 12: $17.84
EMA 26: $18.12
MACD: -0.2731 | Signal: 0.1442
BEARISH
ADX (14): 22.44
WEAK TREND
+DI: 26.84
−DI: 25.64
Momentum Oscillators
RSI (14): 49.03
NEUTRAL
Stoch %K: 57.18
Stoch %D: 61.31
Williams %R: -25.99
Volume & Volatility
BB Upper: $18.26
BB Lower: $17.16
NEUTRAL
OBV: 63,040,527
Vol SMA 20: 1,267,192
Vol ROC: -49.17%
ATR: $0.50
True Range: $0.78
HV 20: 23.8%
HV 30: 36.1%
HV 60: 40.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
BITI Stock Analysis Report
ProShares Short Bitcoin ETF (BITI)
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
BITI is a -1x inverse leveraged ETF designed to profit from Bitcoin price declines. The fund is currently experiencing structural headwinds as Bitcoin has recovered from bear market lows, directly working against this fund's objective. The technical setup shows a bearish momentum breakdown (MACD histogram at -0.68, price below all major moving averages), but this reflects the fund's inverse nature—Bitcoin strength = BITI weakness.
Key Drivers:
- Inverse exposure means BITI declines as Bitcoin appreciates (ongoing structural challenge)
- Recent fund flows show +$81M (45.5% of AUM) over 12 months, indicating accumulation despite headwinds
- High historical volatility (40.1% HV60) and negative beta (-1.81) create significant tracking complexity
Primary Risks:
- Crypto bull market continuation (Bitcoin strength directly pressures fund)
- Daily reset mechanism creates drag on returns during sideways/choppy price action
- Concentrated holdings (IQMM 65.1%, CME futures -100.1%) introduce tracking risk
- 1.03% expense ratio compounds opportunity cost in extended downturns
Investment Thesis: BITI functions as a Bitcoin bear-bet hedge, appropriate only for investors expecting crypto weakness or using it for portfolio diversification via negative correlation. The fund's recent inflows despite price pressure suggest institutional hedging demand, but the technical breakdown and inverse structure make this suitable only for tactical positioning, not core holdings.
Recent News Sentiment Impact: NEUTRAL (2-3 months stale) All headlines are generic ETF commentary from 2023-2024; no actionable catalysts. The most relevant mention ("Bitcoin could soon reach $45,000") contradicts BITI's short thesis, reinforcing headwinds.
Technical Analysis
Trend Direction
| Timeframe | Direction | Assessment | |-----------|-----------|-----------| | Short-term (1-4 weeks) | BEARISH | Price $18.02 trades below SMA20 ($17.66), EMA12 ($17.77), and well below SMA50 ($19.60). ADX 32.36 confirms a strong trend is in place; -DI 29.65 > +DI 25.34 indicates downside momentum dominance. | | Medium-term (1-3 months) | BEARISH | Price significantly below SMA50 ($19.60) and SMA200 ($23.61), confirming intermediate downtrend. However, this reflects Bitcoin strength, not fund weakness per se. | | Long-term (3-12 months) | BEARISH | The $23.61 SMA200 represents a structural decline from prior highs, consistent with Bitcoin's recovery from 2022 lows—the exact opposite of BITI's mandate. |
Critical Context: BITI's downtrend = Bitcoin uptrend. A bearish technical picture for BITI is a bullish signal for Bitcoin holders and suggests the fund is performing its inverse function.
Support & Resistance Levels
| Level | Price | Interpretation | |-------|-------|-----------------| | Immediate Support | $16.66 (Lower Bollinger Band) | First technical floor; a break below opens $15.00-$15.50 range. | | Primary Support | $16.50-$17.00 | Trading zone from May-June 2024 lows. | | Current Price | $18.02 | Trading within upper half of Bollinger Band range. | | Resistance | $18.66 (Upper Bollinger Band) | Near-term ceiling; break above would require Bitcoin weakness. | | Strong Resistance | $19.60 (SMA50) | Psychologically important; represents 3-month moving average. | | Major Resistance | $23.61 (SMA200) | 6-month high; unlikely unless Bitcoin enters sustained bear market. |
Momentum Signals
RSI (14): 45.91 — NEUTRAL
- Neither overbought (>70) nor oversold (<30)
- Positioned slightly below midpoint (50), indicating mild bearish lean
- Room for both upside and downside movement without extremes
- Suggests consolidation pattern rather than imminent reversal
MACD: -0.48 / Signal: 0.21 / Histogram: -0.68 — BEARISH BREAKDOWN
- Negative histogram (-0.68) indicates MACD below signal line
- MACD (-0.48) is negative and diverging further below signal line (0.21)
- This is a classic bearish momentum breakdown suggesting accelerating downside
- No bullish crossover imminent; momentum deteriorating
Stochastic Oscillators: %K 67.36, %D 68.05 — OVERBOUGHT SIGNAL (Inverse Reading)
- Both K and D above 65, approaching overbought territory (>80)
- In a normal context, this suggests sell pressure; for an inverse ETF, this indicates Bitcoin strength
- Potential for pullback/consolidation rather than sustained decline
Williams %R: -20.00 — NEAR HIGHS
- Highly positive reading (closer to 0 than -100) reinforces the overbought-for-Bitcoin-purposes signal
- Suggests limited upside room for BITI in near term without Bitcoin reversal
Bollinger Bands: Width 11.33% — NEUTRAL
- Band width of 11.33 is moderate (neither squeeze nor expansion)
- Price at $18.02 is positioned slightly above the middle band ($17.66), in upper half of range
- No imminent breakout signal; consolidation likely continues
News & Sentiment Analysis
Recent Headlines Summary
| # | Source | Date | Theme | Relevance | |---|--------|------|-------|-----------| | 1 | Zacks | 2024-05-31 | ETF underperformance in May | Generic; likely references crypto sector underperformance (negative for BITI) | | 2 | Zacks | 2024-03-25 | Best-performing ETF areas | Generic; likely crypto strength (negative for BITI) | | 3 | Zacks | 2024-03-22 | Bitcoin euphoria waning | Most relevant: Suggests crypto weakness = potential BITI catalyst | | 4 | Zacks | 2023-11-29 | Charlie Munger philosophy ETFs | Unrelated to Bitcoin/crypto | | 5 | Zacks | 2023-11-10 | New inverse Ether ETF (SETH) | Related product commentary; shows demand for inverse crypto exposure | | 6 | MarketWatch | 2023-05-04 | Bitcoin bull market potential | Contradicts BITI thesis: Suggests Bitcoin strength = BITI pressure |
Sentiment Assessment: NEUTRAL TO MILDLY NEGATIVE
- Data Quality Issue: All headlines are 2-3+ years old; most recent is May 2024
- No current catalysts, earnings data, or breaking news in dataset
- Generic ETF commentary provides minimal actionable insight
- The one bullish Bitcoin reference (MarketWatch, May 2023) is the most substantive and works against BITI
Catalyst Identification
Immediate (1-7 days): None identified; no earnings, product launches, or regulatory events listed
Near-term (1-4 weeks):
- Bitcoin price action is the only material catalyst (inverse relationship)
- Options market pricing $1.85 expected move (10% move) by 37 DTE expiration—suggests significant volatility expected
- No specific Bitcoin news events in available data
Medium-term (1-3 months):
- Potential Federal Reserve policy shifts affecting risk assets
- Bitcoin halving events or major crypto regulatory developments (not mentioned in data)
- Seasonal crypto cycles (Q4 historically stronger for Bitcoin)
Market Narrative: Technical Signals vs. News
Disconnect Identified:
- Technical Picture: BITI shows bearish momentum (MACD breakdown, price below MAs, ADX trending)
- News Sentiment: Neutral; no actionable headlines supporting Bitcoin weakness
- Interpretation: The technical breakdown reflects Bitcoin strength (inverse fund mechanics), not new negative catalyst. News lag suggests market may have already priced in current conditions.
Implication: Current technical weakness for BITI is a structural reflection of Bitcoin strength, not evidence of new selling pressure or reversal. Without negative Bitcoin news, the downtrend
Generated
News
All BITI news →
Zacks Investment ResearchT3·31mo ago
Zacks Investment ResearchT3·31mo ago
Zacks Investment ResearchT3·35mo ago
Zacks Investment ResearchT3·35mo ago
MarketWatchT3·42mo ago
Zacks Investment ResearchT3·42mo ago
Zacks Investment ResearchT3·42mo ago
Seeking AlphaT3·42mo ago
MarketWatchT3·42mo ago
Showing 1–10 of 49
Page 1 of 5
BITI Options Activity & IV Rank
BITI IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 38.1%
7-DTE IV: —
Expected Move: $1.55
7-DTE Move: $1.55
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 83
Put Volume: 34
P/C Volume: 0.41
BULLISH
Call OI: 668
Put OI: 60
P/C OI: 0.09
Total OI: 728
ATM Options Pricing
ATM Call: $0.57
ATM Put: $0.97
Call %: 3.2%
Put %: 5.4%
Chain Summary
Chain Volume: 1,587
Chain OI: 12,813
Last Updated: 10/22/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
LOW γ vs HISTORY
Estimated net dealer gamma is at the 14th percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
14%
vs own history
GEX tilt
+0.68
OI-weighted, today
Vanna tilt
+0.76
δ-sensitivity to IV
Charm tilt
-0.82
δ-decay vs time
Vanna tilt +0.76: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.82: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 21 ATM contracts, 2k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
100%
+37.9
pts
EXTREME
ATM 37.1% / Wing 75.0%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)39.5MediumOct 22
Straddle Price (30 DTE)$1.55Oct 22
Beta Analysis
Risk Metrics
Beta: -1.7992
Alpha: 29.52%
Correlation: -0.4968
R-Squared: 24.7%
Stock Volatility: 46.2%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Negative beta - stock moves opposite to market
Negative beta - stock moves opposite to market
Beta & Alpha Over Time
BITI Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
4 filers$5.27M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $3.70M | 70.14% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $1.03M | 19.61% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $290.30K | 5.51% | 2026-06-30 |
| 4 | Belvedere Trading LLC | $249.66K | 4.74% | 2026-06-30 |
3 filers$7.67M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $4.91M | 64.06% | 2026-06-30 |
| 2 | Belvedere Trading LLC | $2.10M | 27.43% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $653.17K | 8.51% | 2026-06-30 |
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
303.61K
SI % of Float
—
Days to Cover
1.00
Short Vol Ratio
54.1%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|