BSEP Innovator U.S. Equity Buffer ETF - September

ETF

ETF quote, holdings, sector allocation, technicals, and options analytics. 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.

BSEP — —
Key stats
About

Innovator U.S. Equity Buffer ETF - September (BSEP) ETF

No description available.

Exchange
BATS
Inception
2019-08-30
Has Options
No
Fund profile
holdings as of Oct 21, 2026issuer data
Defined Outcome Buffer#42 of 429 by assets Innovator US
Defined-outcome fund. The stated cap and buffer apply only from the first day of the outcome period to its last; buying in between gives different terms. See what is left in the ETF lab.
Expense ratio
0.79%
issuer, Oct 22, 2026
Assets
$464M
issuer-reported, Oct 21, 2026
Trailing yield
—
Average daily volume
$3.0M
30 sessions
Holdings
507
top 10 are 40.9%
Listed
Aug 30, 2019
Cboe BZX
Net asset value
$54.58
issuer, Oct 21, 2026
Closure risk, 12 months
0.5%
low · model
FrenzyCap ETF score
54
how it is built
Cost42
Liquidity49
Scale62
Diversification73
Outcome period, decoded from the options in the fund's Oct 21, 2026 holdings (issuer data)
Reference asset
SPY
period ends Aug 31, 2027 (313 days)
Cap, full period
19.8%
before fees
Buffer, full period
9.0%
first losses absorbed
Reference since start
+0.8%
$773.09 on Oct 21, 2026
Upside left to the cap
18.8%
for a buyer today
Drop before the buffer starts
0.8%
unprotected from here

Moves with. US large-cap stocks (86% of its variance, beta 0.54); High yield over Treasuries (4% of its variance, beta 0.21). These factors explain 91% of its daily moves over the last year.

All 507 holdingsSimilar fundsOverlap toolAll Buffer ETFs

Fund flows

No monthly flow reports are on file for this fund yet. New funds appear after their first quarterly filing; funds organised as unit investment trusts do not file them.

Similar funds
FundOverlapFeeAssets1Y
POCTInnovator U.S. Equity Power Buffer ETF - October99%0.79%$1.1B+11.4%compare
BOCTInnovator U.S. Equity Buffer ETF - October99%0.79%$363M+14.3%compare
PSEPInnovator U.S. Equity Power Buffer ETF - September99%0.79%$1.2B+9.8%compare
ZALTInnovator U.S. Equity 10 Buffer ETF - Quarterly99%0.69%$831M+8.6%compare
SPYState Street SPDR S&P 500 ETF Trust98%0.10%$818.4B+15.2%compare

Ranked by how much of the two portfolios is the same securities.

Look-through: what the holdings say
weights as of Oct 21, 2026issuer data
Holdings vs fair value
+1.8%
25% under, 28% over · 100% covered
Price / earnings
25.8
2% loss-making · 100% covered
Price / book · sales
5.3 · 3.5
revenue growth +14.1%
Above 200-day average
70%
58% above 50-day · by weight
Short interest
2.0%
of float, weighted · 2.9 days to cover
Insider buying
4%
of weight had net insider buying, 90 days; 69% net selling
13F holders
+2.4%
change in shares held by institutions, latest quarter
Reporting earnings
36.4%
of weight in 7 days; 58.9% in 14
Largest contributors below fair value
AMZN+26%MU+50%XOM+20%KLAC+50%APH+50%
Largest contributors above fair value
AAPL−10%TSLA−34%MSFT−9%AMD−28%BRK.B−25%

Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.

What changed in the portfolio
Oct 16, 2026 → Oct 19, 2026
ActionHoldingWeight beforeWeight afterShares vs flows
DecreaseSTTState Street Corp0.10%0.09%−10.0%

0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.8%. Full holdings and history

ETF Profile
holdings as of 2026-10-21
Holdings
507
AUM
$464.0M
Provider
Innovator
Inception
2019-08-30
Exchange
BATS
Data As Of
2026-10-21
Expense Ratio
0.79%
Dividend Yield
—
Distribution
—
Asset Allocation
Top Holdings
top 50 of 507 holdings
Symbol Name Weight % Asset Class Country
NVDA NVIDIA Corp 7.92% Equity (US) US
AAPL Apple Inc 7.40% Equity (US) US
MSFT Microsoft Corp 5.83% Equity (US) US
— SPY 08/31/2027 767.06 P 4.45% Derivative —
AMZN Amazon.com Inc 3.80% Equity (US) US
GOOGL Alphabet Inc 2.90% Equity (US) US
AVGO Broadcom Inc 2.37% Equity (US) US
GOOG Alphabet Inc 2.32% Equity (US) US
META Meta Platforms Inc 2.27% Equity (US) US
TSLA Tesla Inc 1.61% Equity (US) US
MU Micron Technology Inc 1.52% Equity (US) US
LLY Eli Lilly & Co 1.50% Equity (US) US
BRK.B Berkshire Hathaway Inc 1.48% Equity (US) US
JPM JPMORGAN CHASE & CO. 1.37% Equity (US) US
AMD Advanced Micro Devices Inc 1.33% Equity (US) US
XOM ExxonMobil Holdings Corp 1.08% Equity (US) US
V Visa Inc 1.02% Equity (US) US
JNJ Johnson & Johnson 0.92% Equity (US) US
WMT Walmart Inc 0.77% Equity (US) US
MA Mastercard Inc 0.74% Equity (US) US
ABBV AbbVie Inc 0.74% Equity (US) US
PLTR Palantir Technologies Inc 0.68% Equity (US) US
INTC Intel Corp 0.68% Equity (US) US
CVX Chevron Corp 0.66% Equity (US) US
COST Costco Wholesale Corp 0.65% Equity (US) US
CSCO Cisco Systems Inc 0.62% Equity (US) US
MS Morgan Stanley 0.59% Equity (US) US
UNH UnitedHealth Group Inc 0.55% Equity (US) US
MRK Merck & Co Inc 0.55% Equity (US) US
PG Procter & Gamble Co/The 0.54% Equity (US) US
KO Coca-Cola Co/The 0.53% Equity (US) US
CAT Caterpillar Inc 0.50% Equity (US) US
BAC Bank of America Corp 0.49% Equity (US) US
LRCX Lam Research Corp 0.48% Equity (US) US
AMAT Applied Materials Inc 0.48% Equity (US) US
HD Home Depot Inc/The 0.46% Equity (US) US
PM Philip Morris International Inc 0.45% Equity (US) US
GE GE AEROSPACE 0.45% Equity (US) US
— US BANK MMDA - USBGFS 9 09/01/2037 0.44% Cash/Money Market —
PANW Palo Alto Networks Inc 0.42% Equity (US) US
NFLX Netflix Inc 0.40% Equity (US) US
TXN Texas Instruments Inc 0.38% Equity (US) US
RTX RTX Corp 0.38% Equity (US) US
TMO Thermo Fisher Scientific Inc 0.38% Equity (US) US
WFC Wells Fargo & Co 0.37% Equity (US) US
GEV GE Vernova Inc 0.36% Equity (US) US
CRWD Crowdstrike Holdings Inc 0.36% Equity (US) US
AMGN Amgen Inc 0.35% Equity (US) US
IBM International Business Machines Corp 0.35% Equity (US) US
LIN Linde PLC 0.34% Equity (Foreign) IE
Chart
Seasonality
'21'22'23'24'25'26Avg
Jan-0.00%-3.59%5.02%1.83%1.91%0.85%1.00%
Feb1.21%-2.67%-2.60%2.81%-0.32%-0.53%-0.35%
Mar2.04%4.13%3.14%1.56%-2.66%-3.14%0.85%
Apr1.93%-6.34%0.74%-1.97%-0.66%6.13%-0.03%
May0.91%0.11%0.13%3.99%4.12%2.13%1.90%
Jun1.18%-4.60%5.10%1.91%3.64%0.24%1.24%
Jul0.33%5.89%2.90%0.67%1.97%0.88%2.11%
Aug0.56%-1.41%-1.55%1.80%3.63%1.06%0.68%
Sep-3.19%-7.29%-3.57%2.87%2.69%0.34%-1.36%
Oct3.88%3.84%-1.46%0.05%0.66%0.87%*1.31%
Nov-0.76%4.59%6.29%3.72%0.43%--2.85%
Dec3.52%-4.38%3.15%-1.33%0.88%--0.37%
Total12.03%-12.15%18.04%19.23%17.30%8.93%10.57%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $54.43
SMA 50: $54.16
SMA 200: $51.75
Current: $54.51
EMA 12: $54.44
EMA 26: $54.35
MACD: 0.0937 | Signal: -0.0453
BULLISH
ADX (14): 13.66
RANGE
+DI: 21.75
−DI: 22.28

Momentum Oscillators

RSI (14): 53.39
NEUTRAL
Stoch %K: 45.72
Stoch %D: 39.33
Williams %R: -47.06

Volume & Volatility

BB Upper: $55.00
BB Lower: $53.87
NEUTRAL
OBV: -1,683,117
Vol SMA 20: 20,901
Vol ROC: -46.77%
ATR: $0.34
True Range: $0.27
HV 20: 6.7%
HV 30: 7.5%
HV 60: 6.6%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

LLM Stock Analysis Report

SYMBOL: BSEP CURRENT PRICE: $52.46

Executive Summary:

  • Overall Assessment: NEUTRAL (Confidence Level: 6/10)
  • Key Drivers and Primary Risks:
    • Technical analysis suggests a short-term uptrend, but overbought RSI levels indicate potential for a pullback.
    • Recent news headlines are neutral, with no significant catalysts or events impacting the stock price.
    • Low volatility indicates a relatively stable market environment.
  • Recent News Sentiment Impact: Neutral news headline from CNBC's "Final Trades" did not significantly impact the stock price.

Technical Analysis:

  • Trend Direction: Short-term (1-4 weeks): Uptrend, Medium-term (1-3 months): Trending sideways, Long-term (3-12 months): Bearish trend
  • Support/Resistance Levels: SMA 20 ($51.92), SMA 50 ($50.42), and the upper Bollinger Band ($52.59) are key price levels to monitor.
  • Momentum Signals:
    • RSI interpretation: Overbought (74.83), potential sell signal.
    • MACD signal: Bullish momentum, with a strong histogram indicating continued upward pressure.
    • Bollinger Bands position: Neutral, as the stock is trading near the upper band.
  • Volume Analysis: Volume SMA 20 (5081.30) and OBV (702701.02) suggest moderate institutional interest.

News & Sentiment Analysis:

  • Recent Headlines Summary: One neutral news headline from CNBC's "Final Trades" did not significantly impact the stock price.
  • Sentiment Assessment: Neutral
  • Catalyst Identification: No significant upcoming events or earnings releases to impact the stock price.
  • Market Narrative: The market is focusing on broader macroeconomic trends, with no specific sector or company-specific news driving BSEP's performance.

Risk & Volatility Assessment:

  • Beta Interpretation: Low-risk stock with a beta of 0.64 (vs SPY).
  • Volatility Regime: Low volatility regime, with the stock moving less than the broader market.
  • Options Market Signals: No options data available for analysis.
  • Downside Protection: SMA 20 ($51.92) and SMA 50 ($50.42) provide support levels to monitor.

Market Context & Positioning:

  • Sector Performance: BSEP's performance is relatively strong within its sector, with a positive R-squared interpretation.
  • Institutional Activity: Moderate institutional interest indicated by volume and OBV signals.
  • Correlation Analysis: Correlated positively with the broader market (R-squared = 0.97).
  • Relative Valuation: Trading within a range, with no clear buy or sell signal.

Key Levels & Action Items:

  • Critical Price Levels: SMA 20 ($51.92), SMA 50 ($50.42), and upper Bollinger Band ($52.59) are key price levels to monitor.
  • Breakout/Breakdown Levels: A move above the upper Bollinger Band or below the lower Bollinger Band could trigger significant moves.
  • Time-Sensitive Catalysts: No significant upcoming events or earnings releases to impact the stock price.
  • Risk Management: Stop-loss levels and position sizing considerations should be based on the SMA 20 and SMA 50 support levels.

Overall, BSEP's technical analysis suggests a short-term uptrend, but overbought RSI levels indicate potential for a pullback. The low volatility regime and neutral news sentiment suggest a stable market environment.

Generated
News
All BSEP news →

BSEP 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: 0.5620
Alpha: 3.53%
Correlation: 0.9471
R-Squared: 89.7%
Stock Volatility: 7.5%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time

BSEP Institutional Ownership (13F)

Latest filings — 2026-09-30

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.

111 filers3,044,577 shares$160.90M value
# Filer Shares Value % of Total % of Float Period
1 Penserra Capital Management LLC 497,183 $26.22M 16.29% — 2026-06-30
2 Outlook Wealth Advisors, LLC 320,071 $16.88M 10.49% — 2026-06-30
3 COMMONWEALTH EQUITY SERVICES, LLC 223,188 $11.77M 7.31% — 2026-06-30
4 OSAIC HOLDINGS, INC. Custodian 209,426 $11.04M 6.86% — 2026-06-30
5 Cerity Partners LLC Custodian 175,571 $9.26M 5.75% — 2026-06-30
6 Raymond James Financial, Inc. Custodian 81,514 $4.30M 2.67% — 2026-06-30
7 Kestra Advisory Services, LLC 75,036 $3.96M 2.46% — 2026-06-30
8 HighTower Advisors, LLC 68,859 $3.63M 2.26% — 2026-06-30
9 Cetera Investment Advisers Custodian 68,808 $3.63M 2.25% — 2026-06-30
10 Lantz Financial LLC 67,068 $3.62M 2.25% — 2026-09-30
11 Envestnet Asset Management, Inc. 61,070 $3.22M 2.00% — 2026-06-30
12 Diligent Investors, LLC 51,949 $2.74M 1.70% — 2026-06-30
13 INTEGRAL INVESTMENT ADVISORS, INC. 47,537 $2.51M 1.56% — 2026-06-30
14 Susquehanna International Group, LLP Custodian 42,328 $2.23M 1.39% — 2026-06-30
15 GWN SECURITIES INC. 40,654 $2.14M 1.33% — 2026-06-30
16 WealthPLAN Partners, LLC 38,918 $2.10M 1.31% — 2026-09-30
17 OLD MISSION CAPITAL LLC 35,970 $1.90M 1.18% — 2026-06-30
18 DHJJ Financial Advisors, Ltd. 35,065 $1.85M 1.15% — 2026-06-30
19 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 34,398 $1.81M 1.13% — 2026-06-30
20 LPL Financial LLC Custodian 34,055 $1.80M 1.12% — 2026-06-30
21 Snowden Capital Advisors LLC 32,976 $1.74M 1.08% — 2026-06-30
22 FSA Advisors, Inc. 31,004 $1.63M 1.02% — 2026-06-30
23 MML INVESTORS SERVICES, LLC 25,543 $1.35M 0.84% — 2026-06-30
24 Cresset Asset Management, LLC 24,394 $1.29M 0.80% — 2026-06-30
25 Maltin Wealth Management, Inc. 23,627 $1.28M 0.79% — 2026-09-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period
Constituent Performance

Click any bar to view the full quote for that stock.

Constituents
Symbol Name Weight % Price 1 Day 1 Week 1 Month