Arcellx, Inc. Common Stock(ACLX)

Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership.

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.

ACLX $115.07
Snapshot
$115.07
52-Week Range
$60.35 – $115.13
YTD
+81.67%
IV Rank (30D)
61.07
Straddle Price
$0.20
P/C Vol Ratio
0.47
Market Cap
$6.7B
Info
Industry (SIC)
BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) (2836)
Exchange
XNAS
Market Cap
$6.7B

Arcellx Inc a clinical-stage biotechnology company reimagining cell therapy through the development of immunotherapies for patients with cancer and other incurable diseases. Its pipeline includes Multiple Myeloma, Acute Myeloid Leukemia, Non-Oncology, and Solid Tumors.

Summary
composite
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
Insufficient price history — listed 1631 days ago. Seasonality patterns need at least one full year of data.
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: $114.90
SMA 50: $109.88
SMA 200: $83.49
Current: $115.07
EMA 12: $114.95
EMA 26: $113.39
MACD: 1.5607 | Signal: -0.6214
BULLISH
ADX (14): 69.58
STRONG TREND
+DI: 45.43
−DI: 7.43
Momentum Oscillators
RSI (14): 79.85
OVERBOUGHT
Stoch %K: 80.40
Stoch %D: 77.02
Williams %R: -16.22
Volume & Volatility
BB Upper: $115.15
BB Lower: $114.66
NEUTRAL
OBV: 66,108,712
Vol SMA 20: 1,623,522
Vol ROC: 3215.79%
ATR: $0.40
True Range: $0.14
HV 20: 0.9%
HV 30: 1.6%
HV 60: 119.1%

Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-04-29T00:00:00 – 2026-04-27T00:00:00
AI Analysis

Choose Frenzy-Fast™ for quick analysis or Frenzy-Pro™ for comprehensive analysis.

Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.

News
Earnings History
6 of 6 under expected move
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2024-08-08 After-Close 12.65% 12.31% 0.97x Within
2024-11-07 After-Close 6.15% 3.93% 0.64x Within
2025-02-27 Pre-Market 10.41% 1.88% 0.18x Within
2025-05-08 After-Close 7.07% 2.55% 0.36x Within
2025-08-07 After-Close 6.11% 0.91% 0.15x Within
2025-11-05 After-Close 11.31% 0.79% 0.07x Within
Options Activity
IV Rank (30D)
61.07
IV Rank (7D)
61.07
Avg IV
93.7%
Straddle (30D)
$0.20
Straddle (7D)
$0.20
P/C Volume
0.47
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.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How 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 side

Which 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
ATM — / Wing —
30 DTE / 10d
pts EXTREME
ATM — / Wing —

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)
Straddle Price (30 DTE)
Beta Analysis
Insufficient price history — listed 1631 days ago. Beta and correlation vs SPY require ~1 year of daily returns to be statistically meaningful.
Institutional Ownership (13F)
Latest filings — 2026-03-31
Diluted shares outstanding: 56,092,624 (as of 2025-12-31)

Institutional 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.

222 filers52,409,336 shares$5.30B value93.43% of float
# Filer Shares Value % of Total % of Float Period
1 GILEAD SCIENCES, INC. 6,720,803 $771.68M 14.57% 11.98% 2026-03-31
2 Paradigm Biocapital Advisors LP 5,774,016 $662.97M 12.51% 10.29% 2026-03-31
3 BlackRock, Inc. Custodian 3,945,238 $452.99M 8.55% 7.03% 2026-03-31
4 NEA Management Company, LLC 3,045,262 $349.66M 6.60% 5.43% 2026-03-31
5 Pentwater Capital Management LP 2,870,000 $329.53M 6.22% 5.12% 2026-03-31
6 SR ONE CAPITAL MANAGEMENT, LP 2,346,630 $269.44M 5.09% 4.18% 2026-03-31
7 FIL Ltd 2,339,192 $268.59M 5.07% 4.17% 2026-03-31
8 VANGUARD GROUP INC Custodian 4,081,519 $266.12M 5.02% 7.28% 2025-12-31
9 STATE STREET CORP 1,675,895 $192.43M 3.63% 2.99% 2026-03-31
10 GOLDMAN SACHS GROUP INC Custodian 1,312,155 $150.66M 2.84% 2.34% 2026-03-31
11 GEODE CAPITAL MANAGEMENT, LLC Custodian 1,028,666 $118.14M 2.23% 1.83% 2026-03-31
12 JPMORGAN CHASE & CO Custodian 593,573 $68.12M 1.29% 1.06% 2026-03-31
13 DAVIDSON KEMPNER CAPITAL MANAGEMENT LP 559,644 $64.26M 1.21% 1.00% 2026-03-31
14 TIG Advisors, LLC 541,378 $62.16M 1.17% 0.97% 2026-03-31
15 MILLENNIUM MANAGEMENT LLC Custodian 502,846 $57.74M 1.09% 0.90% 2026-03-31
16 BALYASNY ASSET MANAGEMENT L.P. 479,763 $55.09M 1.04% 0.86% 2026-03-31
17 TUDOR INVESTMENT CORP ET AL 462,588 $53.11M 1.00% 0.82% 2026-03-31
18 BANK OF AMERICA CORP /DE/ Custodian 452,333 $51.94M 0.98% 0.81% 2026-03-31
19 Magnetar Financial LLC 394,931 $45.35M 0.86% 0.70% 2026-03-31
20 ALPINE ASSOCIATES MANAGEMENT INC. 378,000 $43.40M 0.82% 0.67% 2026-03-31
21 NEXPOINT ASSET MANAGEMENT, L.P. 373,150 $42.85M 0.81% 0.67% 2026-03-31
22 Affinity Asset Advisors, LLC 362,764 $41.65M 0.79% 0.65% 2026-03-31
23 NORTHERN TRUST CORP Custodian 350,065 $40.19M 0.76% 0.62% 2026-03-31
24 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 346,092 $39.74M 0.75% 0.62% 2026-03-31
25 ALLIANCEBERNSTEIN L.P. 544,227 $35.48M 0.67% 0.97% 2026-03-31
15 filers$128.02M notional
# Filer Notional Value % of Total Period
1 SUSQUEHANNA INTERNATIONAL GROUP, LLP Custodian $58.33M 45.56% 2026-03-31
2 Caption Management, LLC $25.83M 20.18% 2026-03-31
3 EQUITEC PROPRIETARY MARKETS, LLC $23.57M 18.41% 2026-03-31
4 SIMPLEX TRADING, LLC Custodian $4.72M 3.69% 2026-03-31
5 GOLDMAN SACHS GROUP INC Custodian $2.87M 2.24% 2026-03-31
6 NOMURA HOLDINGS INC $2.84M 2.22% 2026-03-31
7 JANE STREET GROUP, LLC Custodian $2.64M 2.06% 2026-03-31
8 JPMORGAN CHASE & CO Custodian $2.30M 1.79% 2026-03-31
9 UBS Group AG Custodian $1.41M 1.10% 2026-03-31
10 CITADEL ADVISORS LLC Custodian $1.24M 0.97% 2026-03-31
11 Point72 Asset Management, L.P. $907.08K 0.71% 2026-03-31
12 IMC-Chicago, LLC Custodian $838.19K 0.65% 2026-03-31
13 TUDOR INVESTMENT CORP ET AL $298.53K 0.23% 2026-03-31
14 GROUP ONE TRADING LLC Custodian $114.82K 0.09% 2026-03-31
15 CSS LLC/IL $114.82K 0.09% 2026-03-31
17 filers$45.12M notional
# Filer Notional Value % of Total Period
1 PICTON MAHONEY ASSET MANAGEMENT $8.61M 19.08% 2026-03-31
2 EQUITEC PROPRIETARY MARKETS, LLC $5.53M 12.26% 2026-03-31
3 SUSQUEHANNA INTERNATIONAL GROUP, LLP Custodian $5.16M 11.43% 2026-03-31
4 SIMPLEX TRADING, LLC Custodian $4.52M 10.03% 2026-03-31
5 JANE STREET GROUP, LLC Custodian $3.54M 7.84% 2026-03-31
6 GOLDMAN SACHS GROUP INC Custodian $3.21M 7.12% 2026-03-31
7 Caption Management, LLC $2.87M 6.36% 2026-03-31
8 NOMURA HOLDINGS INC $2.84M 6.29% 2026-03-31
9 CITADEL ADVISORS LLC Custodian $2.31M 5.11% 2026-03-31
10 JPMORGAN CHASE & CO Custodian $2.30M 5.09% 2026-03-31
11 UBS Group AG Custodian $1.94M 4.30% 2026-03-31
12 Point72 Asset Management, L.P. $907.08K 2.01% 2026-03-31
13 IMC-Chicago, LLC Custodian $447.80K 0.99% 2026-03-31
14 CSS LLC/IL $424.83K 0.94% 2026-03-31
15 GROUP ONE TRADING LLC Custodian $287.05K 0.64% 2026-03-31
16 TUDOR INVESTMENT CORP ET AL $229.64K 0.51% 2026-03-31
17 GLAZER CAPITAL, LLC $21 0.00% 2026-03-31
Insider Activity
Latest: 2026-04-28
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-04-28 Ali Behbahani Director U −4,631 EDGAR
2026-04-28 Kavita Patel Director Disp (D) −76,234 opt EDGAR
2026-04-28 David Charles Lubner Director U −21,659 EDGAR
2026-04-28 Jill Carroll Director U −1,479,148 EDGAR
2026-04-28 Olivia C Ware Director Disp (D) −65,450 opt EDGAR
2026-04-28 Andrew H Galligan Director U −5,000 EDGAR
2026-04-28 Kristin Myers Director Disp (D) −18,613 opt EDGAR
2026-04-28 Michelle Gilson CHIEF FINANCIAL OFFICER U −72,048 EDGAR
2026-04-28 Christopher Heery CHIEF MEDICAL OFFICER U −23,749 EDGAR
2026-04-28 Rami Elghandour SEE REMARKS U −692,551 EDGAR
2026-04-17 Michelle Gilson CHIEF FINANCIAL OFFICER Exer (M) +38,110 $8.66 $330.0K EDGAR
2026-03-19 Michelle Gilson CHIEF FINANCIAL OFFICER Gift (G) −5,000 EDGAR
2026-03-04 Rami Elghandour SEE REMARKS Gift (G) −101,164 EDGAR
2026-02-27 Rami Elghandour SEE REMARKS Mixed +74,632 $113.92 -$10.24M EDGAR
2026-02-25 Michelle Gilson CHIEF FINANCIAL OFFICER Mixed +9,311 $113.82 -$1.28M EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
Insider Holdings
10 insiders · @ $115.07
Officers, directors, and 10%+ owners ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 SCOTT D SANDELL 10%+ Owner 6,746,494 $776.32M $39.98M 3 2022-12-27
2 Peter W. Sonsini 10%+ Owner 4,850,214 $558.11M $190.00M 2 2022-12-22
3 New Enterprise Associates 15, L.P. 10%+ Owner 4,745,262 $546.04M $0 1 2022-12-22
4 NEA Partners 15, L.P. 10%+ Owner 4,745,262 $546.04M $0 1 2022-12-22
5 Novo Holdings A/S 10%+ Owner 3,183,545 $366.33M $12.50M 1 2022-02-09
6 SR ONE CAPITAL PARTNERS I, LP 10%+ Owner 2,828,394 $325.46M -$273.54M 1 2023-05-15
7 Simeon George 10%+ Owner 2,216,960 $255.11M $150.00M 1 2022-02-10
8 Lewis T Williams Director 2,095,114 $241.08M $0 1 2022-02-09
9 Mohamad Makhzoumi 10%+ Owner 30,283 $3.48M -$5.5K 1 2022-12-22
10 Olivia C Ware Director 9,402 $1.08M -$1.16M 7 2026-04-28
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
Notice of Proposed Sale (Form 144)
Latest: 2026-02-27
Last 30d: 0 filings  ·  Last 90d: 0 filings

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. Amendments (Form 144/A) and post-cancellation refilings can inflate this if you sum naively; the rollup above excludes filings with zero stated value.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2026-02-27 Elghandour Rami Officer, Director 89,916 $10.24M 2026-02-27 E-TRADE FINANCIAL CORPORATION EDGAR
2026-02-25 Gilson Michelle Officer 11,219 $1.28M 2026-02-25 E-TRADE FINANCIAL CORPORATION EDGAR
2026-02-19 Gilson Michelle Officer 8,384 $572.6K 2026-02-19 E-TRADE FINANCIAL CORPORATION EDGAR
2026-02-17 Gilson Michelle Officer 11,291 $784.8K 2026-02-17 E-TRADE FINANCIAL CORPORATION EDGAR
2026-01-20 DAVID LUBNER Director 15,000 $1.03M 2026-01-20 Morgan Stanley Smith Barney LLC … 10b5-1 EDGAR
2026-01-14 Heery Christopher Officer 5,882 $403.0K 2026-01-14 E-TRADE FINANCIAL CORPORATION EDGAR
2026-01-13 Heery Christopher Officer 7,437 $487.2K 2026-01-13 E-TRADE FINANCIAL CORPORATION EDGAR
2026-01-12 Heery Christopher Officer 6,131 $393.3K 2026-01-12 E-TRADE FINANCIAL CORPORATION EDGAR
2025-10-15 MICHELLE GILSON Officer 5,364 $468.4K 2025-10-15 Morgan Stanley Smith Barney LLC … 10b5-1 EDGAR
2025-10-03 MICHELLE GILSON Officer 5,946 $489.0K 2025-10-03 Morgan Stanley Smith Barney LLC … 10b5-1 EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed.
ETF Holders
# ETF Provider Weight $ Exposure ETF AUM As Of
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

P/B Ratio16.7
P/S Ratio302.1
EV/EBITDA-27.0
TTM Revenue$0.0B
TTM Net Income$-0.2B
TTM EPS$-4.07
ROE-56.9%