BKHA Black Hawk Acquisition Corporation Class A Ordinary Shares

XNAS
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BKHA — —
Key stats
About
Industry (SIC)
BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) (2836) · industry map
Exchange
XNAS
Market Cap
$0.0B
List Date
2024-05-13
CIK
0002000775
Headquarters
Danville, CA
Homepage
https://www.bhspac.com

Black Hawk Acquisition Corp is a Blank check company.

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
'24'25'26Avg
Jan--0.48%2.13%1.30%
Feb---0.13%1.51%0.69%
Mar--0.48%-0.94%-0.23%
Apr--0.04%0.69%0.36%
May0.05%0.28%-0.84%-0.17%
Jun0.40%0.19%0.42%0.34%
Jul0.30%3.38%-1.51%0.72%
Aug0.30%0.36%1.61%0.76%
Sep0.49%1.04%3.17%1.57%
Oct0.88%1.79%-63.89%*-20.41%
Nov0.29%-2.86%---1.28%
Dec0.19%0.45%--0.32%
Total2.93%5.52%-61.61%-17.72%
* Only 3 year(s) of data available.
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: $9.54
SMA 50: $11.00
SMA 200: $10.91
Current: $4.35
EMA 12: $6.87
EMA 26: $8.94
MACD: -2.0685 | Signal: -0.7394
BEARISH
ADX (14): 30.59
TREND
+DI: 34.17
−DI: 29.25

Momentum Oscillators

RSI (14): 22.85
OVERSOLD
Stoch %K: 4.21
Stoch %D: 3.82
Williams %R: -96.63

Volume & Volatility

BB Upper: $16.70
BB Lower: $2.38
NEUTRAL
OBV: -215,103
Vol SMA 20: 47,368
Vol ROC: 147.57%
ATR: $1.51
True Range: $0.33
HV 20: 242.0%
HV 30: 200.1%
HV 60: 144.8%

Data Summary

Data Points: 269
Last Updated:
Date Range: 2024-05-13T00:00:00 – 2026-10-22T00:00:00
AI Analysis

LLM Stock Analysis Report: BKHA

Executive Summary

Overall Assessment: NEUTRAL (Confidence Level: 6/10)

Key Drivers: Recent positive news headlines, stable technical indicators, and low volatility.

Primary Risks: Lack of recent earnings data, limited options activity, and potential for increased competition in the biotechnology space.

Investment Thesis: BKHA presents a moderate-risk opportunity with potential for growth driven by Vesicor Therapeutics' appointments and business combination agreements. Monitor technical signals and news sentiment to adjust risk posture.

Recent News Sentiment Impact: Positive headlines from Vesicor Therapeutics' CEO appointment and business combination agreement have contributed to the stock's recent stability, potentially limiting near-term volatility.

Technical Analysis

Trend Direction:

  • Short-term (1-4 weeks): NEUTRAL
  • Medium-term (1-3 months): UPTREND
  • Long-term (3-12 months): LONG TREND

Support/Resistance Levels: SMA 50 ($11.47) and Bollinger Bands' middle line ($11.69) serve as key support levels, while the upper band ($11.97) represents resistance.

Momentum Signals:

  • RSI: NEUTRAL (59.34)
  • MACD: BULLISH (0.12 / 0.00 / 0.11)
  • Bollinger Bands: NEUTRAL

Volume Analysis: Volume has decreased significantly, indicating a potential consolidation phase.

News & Sentiment Analysis

Recent Headlines Summary: Positive news headlines from Vesicor Therapeutics' CEO appointment and business combination agreement have driven recent price action.

Sentiment Assessment: POSITIVE

Catalyst Identification: Earnings data availability, product launches, or partnerships could drive future price movements. Monitor regulatory updates for potential impact on the biotechnology space.

Market Narrative: Recent positive news headlines align with the stock's moderate uptrend, suggesting a neutral sentiment environment.

Risk & Volatility Assessment

Beta Interpretation: LOW (0.27 vs SPY), indicating less volatility than the broader market.

Volatility Regime: Current volatility is lower than historical levels, suggesting reduced risk.

Options Market Signals: No options data available for analysis.

Downside Protection: SMA 50 ($11.47) and Bollinger Bands' middle line ($11.69) provide support in case of a potential pullback.

Market Context & Positioning

Sector Performance: Biotechnology sector has been relatively stable, with some stocks experiencing moderate growth.

Institutional Activity: No significant institutional buying or selling activity visible in recent volume data.

Correlation Analysis: BKHA's correlation with the market is relatively low (0.13), suggesting reduced sensitivity to broader market movements.

Relative Valuation: Stock is trading within a narrow range, indicating potential for mean reversion.

Key Levels & Action Items

Critical Price Levels: SMA 50 ($11.47) and Bollinger Bands' middle line ($11.69) serve as key support levels, while the upper band ($11.97) represents resistance.

Breakout/Breakdown Levels: Break above $12.00 or below $10.70 could trigger significant price movements.

Time-Sensitive Catalysts: Earnings data availability and regulatory updates may impact the stock's near-term performance.

Risk Management: Monitor technical signals, news sentiment, and earnings data to adjust risk posture and position size.

By analyzing these factors, I provide a comprehensive assessment of BKHA's potential for growth and risk. The neutral sentiment environment, stable technical indicators, and low volatility suggest a moderate-risk opportunity with potential for growth driven by Vesicor Therapeutics' appointments and business combination agreements. Monitor technical signals and news sentiment to adjust risk posture and position size accordingly.

Generated

BKHA Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU
Full Algorithm Docs ↗

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

Risk Metrics

Beta: 1.2505
Alpha: -166.77%
Correlation: 0.1343
R-Squared: 1.8%
Stock Volatility: 104.4%
Market Volatility: 11.2%

Analysis Details

Benchmark: SPY
Data Points: 88
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
Beta & Alpha Over Time

BKHA Institutional Ownership (13F)

Latest filings — 2026-06-30

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.

24 filers2,071,593 shares$24.53M value
# Filer Shares Value % of Total % of Float Period
1 MIZUHO SECURITIES USA LLC 373,800 $4.26M 17.37% — 2026-06-30
2 WOLVERINE ASSET MANAGEMENT LLC 331,222 $3.90M 15.89% — 2026-06-30
3 BERKLEY W R CORP 314,797 $3.89M 15.86% — 2026-06-30
4 AQR Arbitrage LLC 133,108 $1.57M 6.39% — 2026-06-30
5 BOOTHBAY FUND MANAGEMENT, LLC 120,000 $1.43M 5.83% — 2026-06-30
6 ATW SPAC MANAGEMENT LLC 119,999 $1.33M 5.44% — 2025-09-30
7 Westchester Capital Management, LLC 102,000 $1.20M 4.89% — 2026-06-30
8 Yakira Capital Management, Inc. 88,749 $1.06M 4.31% — 2026-06-30
9 Clear Street Group Inc. 81,481 $970.44K 3.96% — 2026-06-30
10 D. E. Shaw & Co., Inc. Custodian 75,000 $882.75K 3.60% — 2026-06-30
11 Warberg Asset Management LLC 71,923 $856.60K 3.49% — 2026-06-30
12 Meteora Capital, LLC 63,988 $831.20K 3.39% — 2026-06-30
13 Crossingbridge Advisors, LLC 53,024 $631.52K 2.57% — 2026-06-30
14 Polar Asset Management Partners Inc. 39,100 $483.08K 1.97% — 2026-06-30
15 RLH Capital LLC 29,448 $351.82K 1.43% — 2026-06-30
16 Calamos Advisors LLC 24,591 $289.44K 1.18% — 2026-06-30
17 Logan Stone Capital, LLC 13,385 $165.37K 0.67% — 2026-06-30
18 Quarry LP 10,528 $130.07K 0.53% — 2026-06-30
19 Goldman Sachs Group Inc Custodian 10,635 $124.64K 0.51% — 2026-06-30
20 SkyView Investment Advisors, LLC 10,000 $120.00K 0.49% — 2026-06-30
21 BNP Paribas Financial Markets Custodian 4,572 $53.58K 0.22% — 2026-06-30
22 UBS Group AG Custodian 184 $2.16K <0.01% — 2026-06-30
23 Morgan Stanley Custodian 57 $668 <0.01% — 2026-06-30
24 SBI Securities Co., Ltd. 2 $24 <0.01% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period

BKHA Board & Officers

As of SEC filings through Apr 26, 2024
The company's insiders have not filed since Apr 26, 2024; this reflects that date.

Directors 3

Officers 1

10% owners 1

Changes in the last 10 years (7)
Apr 29, 2025The company announced the departure of Brandon Miller from the board in an SEC filing
Mar 20, 2024Terry William Protto became a director
Mar 20, 2024Kent Louis Kaufman became a director
Mar 20, 2024Kent Louis Kaufman became Chairman, CEO, and CFO
Mar 20, 2024Daniel M. McCabe became a director
Mar 20, 2024Brandon Miller became a director
Mar 20, 2024Black Hawk Management LLC became a 10% owner
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
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.