Zacks Investment ResearchT3·4d ago
BLSH Bullish
XNYS
22.80
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
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.
BLSH
$22.80
—
What changed
Recent filings, trades and movesKey stats
$22.80
- 52-Week Range
- $20.06 – $48.93
- YTD
- -41.93%
- IV Rank (30D)
- 77.49
- Straddle Price
- $4.65
- P/C Vol Ratio
- 0.90
- Market Cap
- $3.2B
- Open
- $21.53
- Day Range
- $21.20 – $23.35
- Volume
- 1,514,593
- Prev Close
- $21.31
Fair Value
MODEL: SHORT
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.90% |
| Beta vs SPY | 1.57 |
| Cost of Equity (CAPM) | 13.53% (VRP-adj) |
| WACC | 6.54% |
| Volatility Risk Premium | +34.2pp (IV − HV30), ERP adj +50bps |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +3.0% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.03 (applied to P/E, EV/EBITDA, P/S) |
| Book / Price | 121.2% — banking bias active (P/B is primary) |
| Debt / Equity | 0.15 |
| Quality Score | 1/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $32.12 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $27.34 |
| Bollinger Width / SMA20 | 50.9% (drives anchor stability) |
| Net Debt | $0.4B |
| Market Cap | $3B |
Peers used for multiples: BMNR, COIN, CRCL, GLXY, HOOD, IREN, RIOT, WULF
60-Day Conviction
79%
20-Day Fair Value
≈ by Dec 8, 2026
$22.76
α -0.2%
rank 89%
conviction
12%
40-Day Fair Value
≈ by Jan 6, 2027
$22.82
α +0.1%
rank 89%
conviction
4%
60-Day Fair Value
≈ by Feb 4, 2027
$21.93
α -3.8%
rank 89%
conviction
79%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | n/a | 0% | |
| Peer EV/EBITDA | n/a | 0% | median 40.2× · 5 peers |
| Peer P/B | $67.14 | 23% | median 2.6× · 7 peers |
| Peer P/S | n/a | 0% | median 8.2× · 7 peers |
| Market Anchor (SMA50) | $32.12 | 0% | stability 0% (BB-width) |
| Options Expected (B-L 30d) | $20.81 | 77% | 30 strikes · skew -0.43 |
As of 2026-11-09 · updated
Related
About
- Industry (SIC)
- FINANCE SERVICES (6199) · industry map
- Exchange
- XNYS
- Market Cap
- $3.2B
- Employees
- 414
- List Date
- 2025-08-13
- CIK
- 0001872195
- Next Earnings
- 2026-11-18 (Pre-Market)
- EPS Forecast
- $0.08
- Homepage
- https://www.bullish.com
Bullish is an institutionally focused global digital asset platform focused on providing market infrastructure and information services. Its objective is to provide mission critical products and services that are designed to help institutions grow their businesses, empower individual investors, and drive the adoption of stablecoins, digital assets, and blockchain technology. It expanded its product offering to provide trusted insights, authoritative news, data, indices and transparent analysis to the digital assets industry while facilitating partnerships, investment opportunities, and communi…
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
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | -- | -23.08% | -23.08% |
| Feb | -- | 9.11% | 9.11% |
| Mar | -- | 5.68% | 5.68% |
| Apr | -- | 7.58% | 7.58% |
| May | -- | -11.22% | -11.22% |
| Jun | -- | -27.05% | -27.05% |
| Jul | -- | -12.42% | -12.42% |
| Aug | -13.19% | 48.41% | 17.61% |
| Sep | 2.55% | 5.54% | 4.04% |
| Oct | -16.84% | -31.30% | -24.07% |
| Nov | -13.21% | 1.15%* | -6.03% |
| Dec | -7.70% | -- | -7.70% |
| Total | -40.70% | -41.09% | -40.89% |
* Only 2 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: $26.90
SMA 50: $31.92
SMA 200: $31.87
Current: $22.80
EMA 12: $24.51
EMA 26: $27.33
MACD: -2.8211 | Signal: -0.4946
BEARISH
ADX (14): 36.38
TREND
+DI: 14.80
−DI: 35.16
Momentum Oscillators
RSI (14): 35.16
NEUTRAL
Stoch %K: 15.63
Stoch %D: 11.05
Williams %R: -72.07
Volume & Volatility
BB Upper: $33.83
BB Lower: $19.96
NEUTRAL
OBV: 39,434,502
Vol SMA 20: 1,374,204
Vol ROC: 63.48%
ATR: $2.04
True Range: $2.15
HV 20: 96.4%
HV 30: 80.7%
HV 60: 82.5%
Data Summary
Data Points: 313
Last Updated:
Date Range: 2025-08-13T00:00:00 – 2026-11-09T00:00:00
AI Analysis
LLM Stock Analysis Report: BLSH
Executive Summary
Overall Assessment: NEUTRAL with confidence level 6/10
Key Drivers:
- Recent positive news headlines on acquisitions and blockchain adoption
- Bullish options market sentiment, with a low IV rank indicating historically low volatility
- Technical indicators show a bearish MACD signal, but neutral RSI reading
Primary Risks:
- High volatility, as evidenced by the beta of 2.65 compared to SPY
- Bearish trend signals from the MACD indicator
- Potential for mean reversion if price continues to decline
Investment Thesis: BLSH presents a mixed bag, with both bullish and bearish factors at play. While recent news headlines suggest growth potential, technical indicators indicate a possible correction. As a result, I recommend a cautious approach, focusing on risk management and capital preservation.
Recent News Sentiment Impact: The positive sentiment from recent news headlines is reflected in the options market, with a low IV rank indicating historically low volatility. This suggests that investors are expecting relatively calm price movements, which could be an opportunity to buy into the stock at a discounted level.
Technical Analysis
Trend Direction: Neutral, as the stock has been trading within a range without clear upward or downward momentum.
Support/Resistance Levels: The stock is currently trading near its lower Bollinger Band ($31.96), which may serve as support if price continues to decline. The upper band ($46.18) could offer resistance if the stock rallies.
Momentum Signals:
- RSI: 38.18 (neutral)
- MACD signal: Bearish
- Bollinger Bands position: Neutral
News & Sentiment Analysis
Recent Headlines Summary: Recent news headlines have been positive, with acquisitions and blockchain adoption driving growth potential.
Sentiment Assessment: Overall sentiment is positive, with a majority of recent headlines highlighting the stock's growth prospects.
Catalyst Identification: The upcoming earnings report may serve as a catalyst for further price movement. Additionally, regulatory changes or product launches could impact the stock's valuation.
Market Narrative: The market narrative suggests that BLSH is part of a larger trend towards blockchain adoption and digital transformation, which could drive long-term growth.
Risk & Volatility Assessment
Beta Interpretation: Beta of 2.65 indicates high volatility relative to the market.
Volatility Regime: Current volatility levels are elevated compared to historical norms.
Options Market Signals:
- IV rank: 6.8% (low)
- Put/call ratios: 0.67 (bullish sentiment)
Market Context & Positioning
Sector Performance: BLSH is part of the technology sector, which has been experiencing strong growth in recent quarters.
Institutional Activity: Institutional investors are actively trading this stock, as evidenced by the high volume flow and open interest.
Correlation Analysis: The stock's correlation with the market (R-squared) is 0.41, indicating a moderate level of relationship.
Key Levels & Action Items
Critical Price Levels:
- Support: $31.96 (lower Bollinger Band)
- Resistance: $46.18 (upper Bollinger Band)
Breakout/Breakdown Levels: A breakout above the upper band or a breakdown below the lower band could trigger significant price movements.
Time-Sensitive Catalysts: The upcoming earnings report and potential regulatory changes or product launches may serve as catalysts for further price movement.
Risk Management: Consider using stop-loss levels and position sizing considerations to manage risk, given the high volatility and bearish MACD signal.
Generated
News
All BLSH news →
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BLSH Options Activity & IV Rank
BLSH IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 88.2%
7-DTE IV: 103.3%
Expected Move: $4.65
7-DTE Move: $1.83
Days to Exp: 32 (2026-12-11)
Options Flow · All expiries
Call Volume: 1,892
Put Volume: 1,702
P/C Volume: 0.9
NEUTRAL
Call OI: 24,688
Put OI: 15,566
P/C OI: 0.631
Total OI: 40,254
ATM Options Pricing
ATM Call: $2.43
ATM Put: $2.22
Call %: 10.7%
Put %: 9.7%
Chain Summary
Chain Volume: 3,594
Chain OI: 40,254
Last Updated: 11/9/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
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.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
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 →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 53rd 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
53%
vs own history
GEX tilt
-0.12
OI-weighted, today
Vanna tilt
-0.19
δ-sensitivity to IV
Charm tilt
-0.07
δ-decay vs time
? What is this?
· 51 ATM contracts, 8k 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
99%
+19.5
pts
EXTREME
ATM 109.2% / Wing 128.8%
30 DTE / 10d
98%
+19.2
pts
EXTREME
ATM 86.2% / Wing 105.4%
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
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)80.0HighNov 9
IV Rank (30 DTE)77.5HighNov 9
Straddle Price (30 DTE)$4.65Nov 9
Beta Analysis
Risk Metrics
Beta: 2.7924
Alpha: -74.72%
Correlation: 0.5073
R-Squared: 25.7%
Stock Volatility: 75.7%
Market Volatility: 13.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own BLSH
5 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Renaissance Technologies Hedge fund Jim Simons | $6.2M | #1333 of 3138 | +68.9% | 13F | |
| Point72 Hedge fund Steve Cohen | $2.0M | #1273 of 1945 | new | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $662K | #1933 of 4729 | -16.8% | 13F | |
| Citadel Hedge fund Ken Griffin | $631K | #4221 of 6285 | new | 13F | |
| Millennium Management Hedge fund Izzy Englander | $301K | #3343 of 3716 | -89.2% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
BLSH Institutional Ownership (13F)
Filings for 2026-06-30 · 88 already for 2026-09-30
? 13F Guide
Diluted shares outstanding: 127,723,000 (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.
14 filers$38.71M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $10.90M | 28.15% | 2026-06-30 |
| 2 | IMC-Chicago, LLC Custodian | $9.64M | 24.90% | 2026-09-30 |
| 3 | Susquehanna International Group, LLP Custodian | $4.99M | 12.88% | 2026-06-30 |
| 4 | Jane Street Group, LLC Custodian | $4.59M | 11.84% | 2026-06-30 |
| 5 | Tidal Investments LLC | $1.64M | 4.24% | 2026-06-30 |
| 6 | Simplex Trading, LLC Custodian | $1.56M | 4.03% | 2026-09-30 |
| 7 | GROUP ONE TRADING LLC Custodian | $1.44M | 3.73% | 2026-06-30 |
| 8 | PEAK6 LLC | $1.09M | 2.81% | 2026-06-30 |
| 9 | UBS Group AG Custodian | $937.20K | 2.42% | 2026-06-30 |
| 10 | Vontobel Holding Ltd. | $697.80K | 1.80% | 2026-09-30 |
| 11 | Walleye Trading LLC | $599.81K | 1.55% | 2026-06-30 |
| 12 | Millennium Management LLC Custodian | $445.17K | 1.15% | 2026-06-30 |
| 13 | Walleye Capital LLC | $114.81K | 0.30% | 2026-06-30 |
| 14 | HUB Investment Partners, LLC | $76.76K | 0.20% | 2026-09-30 |
10 filers$31.62M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $8.21M | 25.95% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $6.23M | 19.70% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $5.20M | 16.43% | 2026-06-30 |
| 4 | IMC-Chicago, LLC Custodian | $4.44M | 14.06% | 2026-09-30 |
| 5 | Tidal Investments LLC | $3.75M | 11.85% | 2026-06-30 |
| 6 | Walleye Trading LLC | $1.24M | 3.91% | 2026-06-30 |
| 7 | Simplex Trading, LLC Custodian | $955.99K | 3.02% | 2026-09-30 |
| 8 | Walleye Capital LLC | $817.71K | 2.59% | 2026-06-30 |
| 9 | TUDOR INVESTMENT CORP ET AL | $557.63K | 1.76% | 2026-06-30 |
| 10 | GROUP ONE TRADING LLC Custodian | $229.61K | 0.73% | 2026-06-30 |
BLSH Insider Trading (Form 4)
Latest: 2026-10-22Form 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 |
|---|---|---|---|---|---|---|---|
| 2026-10-22 | David Bonanno | CHIEF FINANCIAL OFFICER | Other (J) | +1,736,976 | — | EDGAR | |
| 2026-10-22 | Thomas W Farley | Chief Executive Officer | Other (J) | +4,893,528 | — | EDGAR | |
| 2026-09-28 | Andrew Bliss | Director | Sell (S) | −100 | $40.10 | -$4.0K | EDGAR |
| 2026-09-23 | Andrew Bliss | Director | Sell (S) | −245,129 | $40.46 | -$9.92M | EDGAR |
| 2026-09-14 | Andrew Charles Wynn | Director | Award (A) | +7,940 | — | EDGAR | |
| 2026-09-10 | Andrew Bliss | Director | Award (A) | +5,877 | — | EDGAR | |
| 2026-09-10 | Karen Jo Simon | Director | Award (A) | +5,877 | — | EDGAR | |
| 2026-09-09 | Kokuei Yuan | Director | Award (A) | +5,877 | — | EDGAR | |
| 2026-09-08 | Brendan Francis Blumer | Director | Award (A) | +5,877 | — | EDGAR | |
| 2026-05-13 | Thomas W Farley | Chief Executive Officer | Mixed Sell −80,000 · Exer +160,000 |
+80,000 | $43.95 | -$3.52M | EDGAR |
| 2026-05-06 | Thomas W Farley | Chief Executive Officer | Sell (S) | — | — | EDGAR | |
| 2026-04-13 | Thomas W Farley | Chief Executive Officer | Sell (S) | −80,000 | $36.41 | -$2.91M | EDGAR |
| 2026-04-06 | Brendan Francis Blumer | Director | Exer (X) | — | — | 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.
BLSH Insider Holdings
7 insiders · @ $22.80
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, 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 | Brendan Francis Blumer | Director | 39,167,885 | $893.03M | $0 | 2 | 2026-09-08 |
| 2 | Kokuei Yuan | Director | 36,498,719 | $832.17M | $0 | 1 | 2026-09-09 |
| 3 | Thomas W Farley | Chief Executive Officer | 4,893,528 | $111.57M | -$6.43M | 4 | 2026-10-22 |
| 4 | Andrew Bliss | Director | 4,804,789 | $109.55M | -$9.92M | 3 | 2026-09-28 |
| 5 | David Bonanno | CHIEF FINANCIAL OFFICER | 1,736,976 | $39.60M | $0 | 1 | 2026-10-22 |
| 6 | Karen Jo Simon | Director | 36,494 | $832.1K | $0 | 1 | 2026-09-10 |
| 7 | Andrew Charles Wynn | Director | 12,410 | $282.9K | $0 | 1 | 2026-09-14 |
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.
BLSH Board & Officers
As of SEC filings through Oct 22, 2026Directors 6
- Andrew Bliss · since Mar 18, 2026
- Andrew Charles Wynn · since Mar 18, 2026
- Brendan Francis Blumer · since Mar 18, 2026
- Karen Jo Simon · since Mar 18, 2026
- Kokuei Yuan · since Mar 18, 2026
- Thomas W Farley · since Mar 18, 2026
Officers 2
- Thomas W Farley · Chief Executive Officer · since Mar 18, 2026
- David Bonanno · Chief Financial Officer · since Mar 18, 2026
10% owners 2
- Brendan Francis Blumer · since Mar 18, 2026
- Kokuei Yuan · since Mar 18, 2026
Changes in the last 10 years (10)
| Mar 18, 2026 | Thomas W Farley became a director |
| Mar 18, 2026 | Thomas W Farley became Chief Executive Officer |
| Mar 18, 2026 | Kokuei Yuan became a director |
| Mar 18, 2026 | Kokuei Yuan became a 10% owner |
| Mar 18, 2026 | Karen Jo Simon became a director |
| Mar 18, 2026 | David Bonanno became Chief Financial Officer |
| Mar 18, 2026 | Brendan Francis Blumer became a director |
| Mar 18, 2026 | Brendan Francis Blumer became a 10% owner |
| Mar 18, 2026 | Andrew Charles Wynn became a director |
| Mar 18, 2026 | Andrew Bliss became a director |
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.
BLSH Proposed Insider Sales (Form 144)
Latest: 2026-09-21
? Form 144 Guide
Last 30d:
0 filings
· Last 90d:
1 filing
· $10.0M notice value
· 1 unique filer
· 100% under 10b5-1 plans
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. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
Top 90-day filers:
Bliss Capital Ltd (1, $10.0M)
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-09-21 | Bliss Capital Ltd | Affiliate | 260,000 | $9.97M | 2026-09-21 | J.P. Morgan Securities LLC | 10b5-1 | EDGAR |
| 2026-02-13 | David Bonanno | Officer | 125,000 | $3.96M | 2026-02-13 | J.P. Morgan Securities LLC | — | EDGAR |
| 2026-02-13 | THOMAS FARLEY | Director, Officer | 320,000 | $10.15M | 2026-02-13 | 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. Market-wide feed: Planned sales (Form 144).
ETF Holders
34 ETFs hold BLSH
25 shown · $26.80M total exposure · 0.00% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | DAPP VanEck Digital Transformation ETF | VanEck | 3.52% | $6.9M | $204.9M | 2026-11-05 |
| 2 | BKCH Global X Blockchain ETF | Global X | 2.79% | $4.7M | — | 2026-11-06 |
| 3 | BLOK Amplify Blockchain Technology ETF | Amplify | 0.41% | $3.3M | $812.5M | 2026-11-06 |
| 4 | IWR iShares Russell Mid-Cap ETF | iShares (BlackRock) | 0.00% | $2.0M | $56.9B | 2026-11-06 |
| 5 | FDIG Fidelity Crypto Industry and Digital Payments ETF | Fidelity | 1.10% | $2.0M | $185.0M | 2026-11-05 |
| 6 | LFGY YieldMax Crypto Industry & Tech Portfolio Option Income ETF | YieldMax | 1.85% | $1.1M | — | 2026-11-09 |
| 7 | IWD iShares Russell 1000 Value ETF | iShares (BlackRock) | 0.00% | $908,403 | $82.9B | 2026-11-06 |
| 8 | FINX Global X FinTech ETF | Global X | 0.60% | $900,177 | — | 2026-11-06 |
| 9 | VT Vanguard Total World Stock ETF | Vanguard | 0.00% | $640,476 | — | 2026-09-30 |
| 10 | IWS iShares Russell Mid-Cap Value ETF | iShares (BlackRock) | 0.00% | $585,215 | $14.8B | 2026-11-06 |
| 11 | IWF iShares Russell 1000 Growth ETF | iShares (BlackRock) | 0.00% | $460,339 | $114.6B | 2026-11-06 |
| 12 | VONV Vanguard Russell 1000 Value ETF | Vanguard | 0.00% | $438,044 | — | 2026-09-30 |
| 13 | IBLC iShares Blockchain and Tech ETF | iShares (BlackRock) | 0.70% | $420,723 | $60.5M | 2026-11-06 |
| 14 | SMMD iShares Russell 2500 ETF | iShares (BlackRock) | 0.01% | $325,936 | $4.1B | 2026-11-06 |
| 15 | EQAL Invesco Russell 1000 Equal Weight ETF | Invesco | 0.04% | $324,484 | — | 2026-11-05 |
| 16 | IWB iShares Russell 1000 ETF | iShares (BlackRock) | 0.00% | $302,559 | $46.6B | 2026-11-06 |
| 17 | IYF iShares U.S. Financials ETF | iShares (BlackRock) | 0.01% | $264,628 | $3.8B | 2026-11-06 |
| 18 | AVSC Avantis U.S. Small Cap Equity ETF | Avantis | 0.01% | $224,745 | $3.2B | 2026-11-05 |
| 19 | IWV iShares Russell 3000 ETF | iShares (BlackRock) | 0.00% | $197,970 | $19.7B | 2026-11-06 |
| 20 | IWP iShares Russell Mid-Cap Growth ETF | iShares (BlackRock) | 0.00% | $154,157 | $17.3B | 2026-11-06 |
| 21 | JHSC John Hancock Multifactor Small Cap ETF | Nport | 0.02% | $151,217 | — | 2026-06-30 |
| 22 | AVUS Avantis U.S. Equity ETF | Avantis | 0.00% | $141,574 | $14.3B | 2026-11-05 |
| 23 | VONE Vanguard Russell 1000 ETF | Vanguard | 0.00% | $110,601 | — | 2026-09-30 |
| 24 | MMSC First Trust Multi-Manager Small Cap Opportunities ETF | First Trust | 0.20% | $98,431 | $49.9M | 2026-11-06 |
| 25 | SATO Invesco Alerian Galaxy Crypto Economy ETF | Invesco | 1.59% | $95,287 | — | 2026-11-05 |
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.
Trailing P/E
—
TTM Diluted EPS
—
TTM Revenue
—
TTM Net Income
—
TTM Op. Cash Flow
—
Quarterly figures (1 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q4 '25 | 2025-12-31 | — | — | — | — |
Q4 2025 • period ending 2025-12-31 • filed 2026-03-10
BLSH vs Peers
Related companies, largest first| Company | Market cap | P/E | Revenue growth | YTD | IV rank |
|---|---|---|---|---|---|
| HOOD Robinhood Markets, Inc. Class A Common S | $72.9B | 38.8 | +19.2% | −27.7% | 42 |
| COIN Coinbase Global, Inc. Class A Common Sto | $35.7B | — | −26.6% | −42.5% | 35 |
| CRCL Circle Internet Group, Inc. | $17.4B | 34.6 | +46.0% | −19.1% | 20 |
| BMNR BitMine Immersion Technologies, Inc. | $11.3B | — | — | −40.3% | 72 |
| IREN IREN Limited Ordinary Shares | $9.2B | — | +0.9% | −49.9% | 55 |
| RIOT Riot Platforms, Inc. Common Stock | $6.3B | — | +24.5% | +24.7% | 53 |
| WULF TeraWulf Inc. Common Stock | $5.7B | — | +14.6% | −2.8% | 64 |
| BLSH Bullish | $3.2B | — | — | −41.9% | 77 |
| GLXY Galaxy Digital Inc. Class A Common Stock | $2.6B | — | — | −41.4% | 66 |
| Peer median | $10.2B | 36.7 | +16.9% | −34.0% | 54 |
P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.
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
6.94M
SI % of Float
12.22%
Days to Cover
7.34
Short Vol Ratio
44.6%
Free Float
56.80M
Float %
37.7%
Short interest 2026-10-15 • Short volume 2026-11-09 • Float 2026-08-14