The Motley FoolT3·7mo ago
ANGL VanEck Fallen Angel High Yield Bond ETF
ETF 27.40 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.
ANGL
$27.40
—
Key stats
$27.40
- 52-Week Range
- $27.25 – $29.77
- YTD
- -6.80%
- IV Rank (30D)
- 29.61
- Straddle Price
- $1.23
- P/C Vol Ratio
- 0.00
- Open
- $27.32
- Day Range
- $27.30 – $27.43
- Volume
- 1,647,587
- Prev Close
- $27.32
About
VanEck Fallen Angel High Yield Bond ETF (ANGL) ETF
No description available.
- Exchange
- XNAS
- Inception
- 2012-04-10
- Has Options
- Yes
- Homepage
- https://www.vaneck.com/us/en/investments/etf/
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jul 2026flows, SEC filings
- Expense ratio
- 0.25% issuer, Oct 21, 2026
- Assets
- $2.9B issuer-reported, Oct 19, 2026
- Trailing yield
- 6.99% paid monthly
- Average daily volume
- $30M 30 sessions
- Holdings
- 133 top 10 are 21.3%
- Listed
- Apr 10, 2012 Nasdaq
- Last fee change
- -10 bp filed Mar 7, 2024
- Tracking difference
- +0.03 pts vs index, after fees, FY 2026
Cost53
Liquidity82
Scale92
Diversification96
Moves with. Long Treasuries (41% of its variance, beta 0.35); US large-cap stocks (17% of its variance, beta 0.10); High yield over Treasuries (7% of its variance, beta 0.58); Developed markets ex-US over US (4% of its variance, beta 0.06). These factors explain 77% of its daily moves over the last year.
Stated objective. VanEck Fallen Angel High Yield Bond ETF (the Fund) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of ICE US Fallen Angel High Yield 10% Constrained Index (the Fallen Angel Index or the Index). (from the fund's prospectus)
All 133 holdingsFlow historyOverlap toolAll High Yield Bond ETFs
Fund flows
through Jul 2026SEC filings- Jul 2026
- −$33M latest reported month
- Latest 3 months
- +$16M +0.5% of assets
- Latest 12 months
- +$110M +3.6% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | −$33M |
| Jun 2026 | +$19M |
| May 2026 | +$31M |
| Apr 2026 | +$1.9M |
| Mar 2026 | −$48M |
| Feb 2026 | +$27M |
| Jan 2026 | −$44M |
| Dec 2025 | +$19M |
| Nov 2025 | +$62M |
| Oct 2025 | −$28M |
| Sep 2025 | +$49M |
| Aug 2025 | +$56M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| USHYiShares Broad USD High Yield Corporate Bond ETF | — | 0.08% | $25.6B | −5.4% | compare |
| HYGiShares iBoxx $ High Yield Corporate Bond ETF | — | 0.49% | $16.2B | −4.8% | compare |
| SPHYState Street SPDR Portfolio High Yield Bond ETF | — | 0.05% | $11.7B | −5.7% | compare |
| SHYGiShares 0-5 Year High Yield Corporate Bond ETF | — | 0.30% | $7.6B | −4.6% | compare |
| JNKState Street SPDR Bloomberg High Yield Bond ETF | — | 0.40% | $5.6B | −5.1% | compare |
The largest other funds in the High Yield Bond category.
Under the hood
fiscal year to Apr 30, 2026SEC census- Authorized participants
- 6 active of 41 with agreements; top 3 did 93%
- Created · redeemed
- $676M · $504M over the fiscal year
- Redemptions in kind
- 93% creations 94% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 8.92% of assets on loan on average; earned 10.3 bp
- Return vs index
- +0.03 pts after fees; +0.30 before; daily s.d. 0.24
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 2026-10-20
Holdings
133
AUM
$3.0B
Provider
VanEck
Inception
2012-04-10
Exchange
XNAS
Data As Of
2026-10-20
Expense Ratio
0.25%
Dividend Yield
6.97%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-06 | $0.1583 | CD |
| 2026-09-01 | 2026-09-04 | $0.1590 | CD |
| 2026-08-03 | 2026-08-06 | $0.1684 | CD |
| 2026-07-01 | 2026-07-07 | $0.1710 | CD |
| 2026-06-01 | 2026-06-04 | $0.1535 | CD |
| 2026-05-01 | 2026-05-06 | $0.1563 | CD |
Asset Allocation
Top Holdings
top 50 of 133 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | Nissan Motor Co Ltd | 3.82% | Corporate Bond | JP |
| — | Vodafone Group Plc | 3.40% | Corporate Bond | GB |
| — | Entegris Inc | 2.62% | Corporate Bond | US |
| — | Dresdner Funding Trust I | 1.81% | Corporate Bond | US |
| — | Celanese Us Holdings Llc | 1.79% | Corporate Bond | US |
| — | Celanese Us Holdings Llc | 1.79% | Corporate Bond | US |
| — | Celanese Us Holdings Llc | 1.75% | Corporate Bond | US |
| — | Resorts World Las Vegas Llc / Rwlv Capi | 1.49% | Corporate Bond | — |
| — | Coty Inc/Hfc Prestige Products Inc/Hfc | 1.47% | Corporate Bond | — |
| — | Pacificorp | 1.41% | Corporate Bond | US |
| — | Celanese Us Holdings Llc | 1.32% | Corporate Bond | US |
| — | Celanese Us Holdings Llc | 1.31% | Corporate Bond | US |
| — | Perrigo Finance Unlimited Co | 1.22% | Corporate Bond | — |
| — | Huntsman International Llc | 1.22% | Corporate Bond | US |
| — | Nissan Motor Acceptance Co Llc | 1.19% | Corporate Bond | US |
| — | Fs Kkr Capital Corp | 1.18% | Corporate Bond | US |
| — | Methanex Corp | 1.17% | Corporate Bond | CA |
| — | Nordstrom Inc | 1.15% | Corporate Bond | US |
| — | Vf Corp | 1.15% | Corporate Bond | — |
| — | Fs Kkr Capital Corp | 1.14% | Corporate Bond | US |
| — | Paramount Global | 1.13% | Corporate Bond | US |
| — | Whirlpool Corp | 1.07% | Corporate Bond | US |
| — | Electronic Arts Inc | 1.06% | Corporate Bond | US |
| — | Electronic Arts Inc | 1.03% | Corporate Bond | US |
| — | Newell Brands Inc | 1.00% | Corporate Bond | US |
| — | Fs Kkr Capital Corp | 1.00% | Corporate Bond | US |
| — | Nissan Motor Acceptance Co Llc | 0.96% | Corporate Bond | US |
| — | Transocean International Ltd | 0.95% | Corporate Bond | — |
| — | Bombardier Inc | 0.94% | Corporate Bond | CA |
| — | Telecom Italia Capital Sa | 0.92% | Corporate Bond | — |
| — | Rockies Express Pipeline Llc | 0.91% | Corporate Bond | US |
| — | Paramount Global | 0.90% | Corporate Bond | US |
| — | Telecom Italia Capital Sa | 0.88% | Corporate Bond | — |
| — | Paramount Global | 0.87% | Corporate Bond | US |
| — | Telecom Italia Capital Sa | 0.86% | Corporate Bond | — |
| — | Aptiv Swiss Holdings Ltd | 0.85% | Corporate Bond | — |
| — | Navient Corp | 0.84% | Corporate Bond | US |
| — | Leggett & Platt Inc | 0.83% | Corporate Bond | US |
| — | Diversified Healthcare Trust | 0.82% | Corporate Bond | US |
| — | Telecom Italia Capital Sa | 0.82% | Corporate Bond | — |
| — | Fluor Corp | 0.82% | Corporate Bond | US |
| — | Leggett & Platt Inc | 0.81% | Corporate Bond | US |
| — | Rockies Express Pipeline Llc | 0.81% | Corporate Bond | US |
| — | Paramount Global | 0.80% | Corporate Bond | US |
| — | Paramount Global | 0.80% | Corporate Bond | US |
| — | Paramount Global | 0.79% | Corporate Bond | US |
| — | Nordstrom Inc | 0.79% | Corporate Bond | US |
| — | Advance Auto Parts Inc | 0.77% | Corporate Bond | US |
| — | Flowers Foods Inc | 0.77% | Corporate Bond | US |
| — | Hudson Pacific Properties Lp | 0.76% | Corporate Bond | US |
Non-Equity Breakdown
VanEck Fallen Angel High Yield Bond ETF ·
NPORT-P period 2026-07-31
(filed 2026-09-25)
Net assets:
$3.05B
· 130 total positions
· equity 0.00%
· non-equity 104.29%
Non-equity holdings
— 130 positions,
104.29% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Corporate | 90.06% | $2.74B | 117 |
| Debt | 7.58% | $231.1M | 12 |
| Short-term investment | 6.65% | $202.6M | 1 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.09% | -3.83% | 3.73% | 1.29% | 1.26% | 0.65% | 0.53% |
| Feb | 0.25% | -2.28% | -2.98% | -1.03% | 0.76% | 0.58% | -0.78% |
| Mar | -0.87% | -1.23% | 2.86% | 1.15% | -0.10% | -2.64% | -0.14% |
| Apr | 0.72% | -5.41% | -0.47% | -1.67% | -1.57% | 1.84% | -1.09% |
| May | 0.22% | 1.89% | -0.40% | 1.06% | 1.95% | 0.31% | 0.84% |
| Jun | 2.25% | -6.38% | 1.54% | -0.74% | 2.59% | 0.62% | -0.02% |
| Jul | 0.61% | 4.50% | 1.01% | 2.77% | 0.03% | -0.65% | 1.38% |
| Aug | 1.06% | -2.58% | 0.25% | 1.60% | 1.49% | 0.55% | 0.40% |
| Sep | -0.66% | -4.65% | -2.13% | 1.66% | 1.85% | -3.17% | -1.18% |
| Oct | 0.29% | 0.30% | -0.15% | -1.37% | -0.34% | -0.76%* | -0.34% |
| Nov | -1.55% | 3.46% | 4.85% | 2.09% | 0.55% | -- | 1.88% |
| Dec | 1.89% | -1.42% | 1.77% | -1.55% | -0.02% | -- | 0.13% |
| Total | 4.32% | -16.83% | 10.03% | 5.24% | 8.70% | -2.75% | 1.45% |
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: $27.66
SMA 50: $28.35
SMA 200: $28.97
Current: $27.40
EMA 12: $27.53
EMA 26: $27.81
MACD: -0.2831 | Signal: 0.0015
BEARISH
ADX (14): 52.33
STRONG TREND
+DI: 12.61
−DI: 43.19
Momentum Oscillators
RSI (14): 26.71
OVERSOLD
Stoch %K: 16.19
Stoch %D: 8.41
Williams %R: -68.69
Volume & Volatility
BB Upper: $28.15
BB Lower: $27.17
NEUTRAL
OBV: -3,788,686
Vol SMA 20: 1,242,784
Vol ROC: 54.47%
ATR: $0.13
True Range: $0.13
HV 20: 4.5%
HV 30: 5.0%
HV 60: 4.7%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
ANGL (VanEck Fallen Angel High Yield Bond ETF) - Comprehensive Analysis
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
ANGL is experiencing significant technical deterioration despite its defensive characteristics as a high-yield bond ETF. The fund is caught in a sharp downtrend with strong selling pressure, evidenced by an ADX of 49.86 (strong trend regime) and a -DI of 45.28 dwarfing the +DI of 13.08. The most critical signal is the $4 million exit headline from February 26, 2026, which aligns with current price weakness and signals investor capitulation from a fund marketed on its 6.94% trailing yield.
Investment Thesis: ANGL faces a near-term capitulation phase driven by both technical breakdown and recent fund outflows, with the most recent month showing -$33M in redemptions. While the fund's 0.25% expense ratio and $3.0B in assets provide stability, the extreme oversold readings (RSI 21.70, Stochastic %K 11.67) suggest a potential bounce is overdue—but conviction for holding through this volatility is weakened by negative recent sentiment and the fund's concentration risk in cyclical sectors (Nissan 3.8%, Vodafone 3.4%) amid macro uncertainty.
Recent News Sentiment Impact: Mixed signals with a concerning negative tilt. The February 26 "Fallen Angel Exit" headline directly corresponds to current weakness and suggests investor disappointment with yield after recent rate environment shifts. Earlier positive articles (January, November 2025) advocating yield-focused buying now appear to be capitulation trades, given subsequent outflows.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): STRONG DOWNTREND
- Price $27.47 is now trading below all major moving averages: SMA 20 ($27.89), SMA 50 ($28.48), SMA 200 ($29.01)
- The gap below the 20-day MA suggests acceleration of selling
- ADX of 49.86 indicates an exceptionally strong directional trend with conviction
Medium-term (1-3 months): DOWNTREND ACCELERATING
- EMA 12 ($27.70) has crossed below EMA 26 ($27.98), generating a bearish MACD signal
- MACD histogram at -0.28 with signal line at -0.00 confirms bearish momentum without reversal signals
- Fund is $1.54 below the 200-day MA (5.3% decline), suggesting a loss of longer-term support
Long-term (3-12 months): RANGE DEGRADATION
- The fund has broken below its 200-day MA ($29.01), which historically acts as a floor for bond ETFs
- This suggests a shift from a stable, yield-focused holding to a more volatile downtrend environment
Support/Resistance Levels
| Level | Type | Relevance | |-------|------|-----------| | $27.18 | Bollinger Lower Band | Immediate support; price currently $0.29 above | | $27.47 | Current Price | No structural support here; technical breakdown in progress | | $27.89 | SMA 20 | Recent resistance; price below suggests momentum sellers active | | $28.48 | SMA 50 | Critical near-term resistance; would require +3.7% recovery | | $29.01 | SMA 200 | Major long-term support now broken; next structural level unclear |
Data Quality Note: Bollinger Bands width of 5.06 (measured from $27.18 to $28.59) is relatively tight given the ADX strength, suggesting the market is consolidating before the next directional move—likely lower given selling pressure.
Momentum Signals
RSI (14): 21.70 — EXTREME OVERSOLD
- RSI below 30 indicates severe oversold conditions, historically suggesting mean reversion or capitulation bottom
- However, with ADX at 49.86 and -DI dominating, this oversold reading reflects strong downtrend, not contrarian buying opportunity
- Interpretation: Oversold RSI in a strong downtrend often accelerates lower before bouncing; suggests further 1-3% downside possible before reversal
Stochastic Oscillators: %K 11.67, %D 16.88 — CRITICAL OVERSOLD
- Both readings in the single digits indicate the stock is at extreme lows within its recent range
- Stochastic divergence from RSI is minimal, confirming bearish momentum without relief signals
- Williams %R at -95.16 is at the absolute extreme, suggesting near-term bounce probability is elevated
MACD: -0.28 Histogram, Signal 0.00 — BEARISH BUT FLATTENING
- Histogram is negative but shrinking toward zero, which could indicate early weakness in downtrend momentum
- Signal line at 0.00 is unusually flat; if price stabilizes, MACD could cross into bullish territory within 1-2 trading days
- Risk: A MACD bullish crossover would contradict current bearish setup; watch for this divergence
Bollinger Bands Analysis
- Position: Price $27.47 is between the lower band ($27.18) and middle band ($27.89)
- Interpretation: Fund is near the lower band, suggesting mean reversion pressure toward the $27.89 midline
- Volatility Signal: Band width of 5.06 is moderate; not a true squeeze, but not extreme expansion either
- Significance: Proximity to lower band combined with oversold RSI suggests a technical floor is forming, but volume/OBV analysis below contradicts this bounce potential
Volume Analysis
Volume Indicators — NEGATIVE DIVERGENCE WARNING:
- Volume SMA 20: 1,134,134 shares—baseline selling activity
- Volume Rate of Change: +7.01%—selling volume is increasing relative to recent average
- On-Balance Volume: -8,000,693.68—cumulative negative OBV indicates persistent institutional selling pressure, not capitulation buying
Critical Interpretation: The combination of rising volume (VROC +7.01%) with negative OBV suggests that selling is accelerating rather than exhausting. In typical mean-reversion analysis, oversold + rising volume to the downside = institutional liquidation, not reversal. This contradicts the "bounce is overdue" narrative that RSI oversold readings typically suggest.
Institutional Interest Signal:
- Elevation Capital's $9.8M purchase (January 30, 2026) appears to have been followed by the $4M exit (February 26, 2026)
- Net monthly flow of -$33M in July 2026 [per SEC filing] suggests recent outflows are accelerating
- Pattern: Insider buying followed by large redemptions suggests confidence erosion among sophisticated investors
News & Sentiment Analysis
Recent Headlines Summary
| Date | Headline | Sentiment | Relevance to Current Move | |------|----------|-----------|--------------------------| | 2026-02-26 | $4M Exit From Fallen Angel ETF Signals | NEGATIVE | DIRECT CATALYST: Aligns perfectly with current price weakness; signals yield-disappointed investors | | 2026-01-30 | Elevation Capital $9.8M Bet on Fixed Income | POSITIVE | Recent bullish positioning now contradicted by outflows; loss of confidence | | 2025-11-12 | "Can't Stop Buying This High-Yielding ETF" | POSITIVE | Capitulation buying; suggests retail chasing yield at wrong time | | 2024-06-08 | Income With Growth Potential | NEUTRAL | Outdated; doesn't reflect current macro environment | | 2023-08-30 | High Yield Breakout (past credit event) | NEUTRAL | Historical; minimal relevance to current situation | | 2022-12-08 | About Yield Curve Inversion | NEUTRAL | Historical reference; outdated context |
Sentiment Assessment: NEGATIVE with mixed positioning signals
Catalyst Identification
Immediate Catalysts (1-7 days):
- Technical bounce attempt if price holds above $27.18 Bollinger lower band
- Any reversal in daily fund flows would signal stabilization
- Options market is pricing ~$1.38 move (36 DTE), suggesting expected range of $26.09–$28.85
Near-term Catalysts (1-4 weeks):
- Federal Reserve commentary on interest rates—bond fund flows are highly sensitive to
Generated
News
All ANGL news →
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ANGL Options Activity & IV Rank
ANGL IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 24.0%
7-DTE IV: —
Expected Move: $1.23
7-DTE Move: $1.23
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 1
Put Volume: 0
P/C Volume: —
BULLISH
Call OI: 0
Put OI: 0
P/C OI: —
Total OI: 0
ATM Options Pricing
ATM Call: $0.70
ATM Put: $0.53
Call %: 2.6%
Put %: 1.9%
Chain Summary
Chain Volume: 68
Chain OI: 81
Last Updated: 10/21/2026
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
TYPICAL γ
Estimated net dealer gamma is at the 42nd percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
42%
vs own history
GEX tilt
+0.02
OI-weighted, today
Vanna tilt
+1.00
δ-sensitivity to IV
Charm tilt
-1.00
δ-decay vs time
Vanna tilt +1.00: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -1.00: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 3 ATM contracts, 0k 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
as of Oct 21 · No data
30 DTE / 10d
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pts
EXTREME
as of Oct 21 · ATM 14.8% / Wing —
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
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Volatility Smile
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IV Rank (7 DTE)
IV Rank (30 DTE)29.6MediumOct 21
Straddle Price (30 DTE)$1.23Oct 21
Beta Analysis
Risk Metrics
Beta: 0.2462
Alpha: -10.99%
Correlation: 0.6556
R-Squared: 43.0%
Stock Volatility: 4.8%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
ANGL 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.
| # | Filer | Notional Value | % of Total | Period |
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| # | Filer | Notional Value | % of Total | Period |
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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
788.10K
SI % of Float
0.72%
Days to Cover
1.00
Short Vol Ratio
22.0%
Free Float
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Float %
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Short interest 2026-09-30 • Short volume 2026-10-21
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
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