CBTL Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF
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Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF (CBTL) ETF
No description available.
- Exchange
- BATS
- Inception
- 2025-10-13
- Has Options
- No
- Expense ratio
- 0.79% prospectus, filed Nov 21, 2025
- Assets
- $2.6M SEC filing, Jul 31, 2026
- Trailing yield
- 1.04% paid annual
- Average daily volume
- $7K 30 sessions
- Holdings
- 4 top 10 are 99.9%
- Listed
- Oct 13, 2025 Cboe BZX
Moves with. Bitcoin (92% of its variance, beta 0.43). These factors explain 91% of its daily moves over the last year.
Stated objective. "Calamos Laddered Bitcoin 80 Series Structured Alt Protection ETF ? (the ""Fund"") seeks to provide exposure to the price of bitcoin." (from the fund's prospectus)
All 4 holdingsFlow historyOverlap toolAll Floor & Protection ETFs
- Jul 2026
- −$2.7M latest reported month
- Latest 3 months
- −$805K −30.6% of assets
- Latest 12 months
- —
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | −$2.7M |
| Jun 2026 | +$437K |
| May 2026 | +$1.4M |
| Apr 2026 | +$932K |
| Mar 2026 | $0 |
| Feb 2026 | −$5K |
| Jan 2026 | +$1.6M |
| Dec 2025 | +$531K |
| Nov 2025 | $0 |
| Oct 2025 | +$1.3M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 10 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| JAJLInnovator Equity Defined Protection ETF - 6mo Jan/Jul | — | 0.79% | $303M | +6.0% | compare |
| ZSEPInnovator Equity Defined Protection ETF - 1 Yr September | — | 0.79% | $237M | +5.5% | compare |
| ZJULInnovtor Equity Defined Protection ETF - 1 Yr July | — | — | $196M | +5.8% | compare |
| ZAUGInnovator Equity Defined Protection ETF - 1 Yr August | — | 0.79% | $167M | +5.8% | compare |
| ZJUNInnovator Equity Defined Protection ETF - 1 Yr June | — | 0.79% | $166M | +5.0% | compare |
The largest other funds in the Floor & Protection category.
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-23 | 2025-12-30 | $0.2036 | CD |
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| CBTA | Calamos Bitcoin 80 Series Structured Alt Protection ETF - April | 25.10% | Equity (common) | US |
| CBTY | Calamos Bitcoin 80 Series Structured Alt Protection ETF - July | 25.05% | Equity (common) | US |
| CBTO | Calamos Bitcoin 80 Series Structured Alt Protection ETF - October | 25.04% | Equity (common) | US |
| CBTJ | Calamos Bitcoin 80 Series Structured Alt Protection ETF January | 24.69% | Equity (common) | US |
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | -- | -4.90% | -4.90% |
| Feb | -- | -7.40% | -7.40% |
| Mar | -- | -1.75% | -1.75% |
| Apr | -- | 3.05% | 3.05% |
| May | -- | -2.50% | -2.50% |
| Jun | -- | -4.76% | -4.76% |
| Jul | -- | 0.86% | 0.86% |
| Aug | -- | 8.78% | 8.78% |
| Sep | -- | 4.04% | 4.04% |
| Oct | -1.33% | -1.67%* | -1.50% |
| Nov | -9.06% | -- | -9.06% |
| Dec | -0.45% | -- | -0.45% |
| Total | -10.67% | -7.07% | -8.87% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- 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.
- 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.
- 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
Momentum Oscillators
Volume & Volatility
Data Summary
Click Frenzy-Pro™ for an AI analysis of this ticker.
Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.
CBTL Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
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.
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.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- 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.
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.
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.
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.
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.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 248
Period: 252 trading days
Low volatility - stock moves less than market
CBTL Institutional Ownership (13F)
Latest filings — 2026-06-30Institutional 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 |
|---|
| # | Filer | Notional Value | % of Total | Period |
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Click any bar to view the full quote for that stock.
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| CBTA | Calamos Bitcoin 80 Series Structured Alt Protection ETF - April | 25.10% | $24.45 | +0.52% | -1.09% | +4.72% |
| CBTY | Calamos Bitcoin 80 Series Structured Alt Protection ETF - July | 25.05% | $22.46 | +0.28% | -0.68% | +4.13% |
| CBTO | Calamos Bitcoin 80 Series Structured Alt Protection ETF - October | 25.04% | $19.3 | +0.42% | -2.53% | -2.72% |
| CBTJ | Calamos Bitcoin 80 Series Structured Alt Protection ETF January | 24.69% | $20.47 | +0.52% | -1.91% | +4.55% |