Calamos S&P 500 Structured Alt Protection ETF - May(CPSM · ETF)
ETF quote, holdings, sector allocation, technicals, and options analytics.
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.
Calamos S&P 500 Structured Alt Protection ETF - May (CPSM) ETF
- Exchange
- ARCX
- Inception
- 2024-04-30
- Has Options
- No
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | Goldman Sachs & Co. LLC | 117.70% | Derivative (equity) | US |
| — | Goldman Sachs & Co. LLC | 0.42% | Derivative (equity) | US |
| — | Goldman Sachs & Co. LLC | -18.35% | Derivative (equity) | US |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Derivative (equity) | 99.77% | $54.5M | 3 |
| Month | Avg Return | Years of Data |
|---|---|---|
| Jan | +0.56% | 2 |
| Feb | +0.49% | 2 |
| Mar | -0.42% | 2 |
| Apr | +1.89% | 2 |
| May | +0.76% | 3 |
| Jun | +0.53% | 3 |
| Jul | +0.30% | 3 |
| Aug | +0.62% | 3 |
| Sep | +0.71% | 3 |
| Oct | +0.39% | 2 |
| Nov | +0.67% | 2 |
| Dec | +0.26% | 2 |
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
LLM Stock Analysis Report: CPSM
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers: Technical signals indicate a strengthening uptrend, while recent news headlines suggest neutral sentiment.
Primary Risks: Low volatility and lack of significant market-moving news may hinder stock price growth.
Investment Thesis: CPSM's technical indicators suggest a continued uptrend, but the absence of strong catalysts and low volatility may limit its potential for significant gains.
Recent News Sentiment Impact: Neutral sentiment headlines have not significantly impacted the stock price, which remains influenced by technical signals.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Uptrend
- Medium-term (1-3 months): Uptrend
- Long-term (3-12 months): Bullish
Support/Resistance Levels: The stock is trading above its short-term SMA 20 and EMA 12, indicating support. The middle Bollinger Band ($29.52) serves as a key resistance level.
Momentum Signals:
- RSI: Neutral (67.16), not overbought or oversold
- MACD: Bullish momentum with a positive crossover above the signal line
- Bollinger Bands: Price is trading near the upper band, indicating neutral volatility
Volume Analysis: The stock has experienced moderate volume decreases (-82.26%) in recent periods.
News & Sentiment Analysis
Recent Headlines Summary: Neutral sentiment headlines from Zacks Investment Research have not had a significant impact on the stock price.
Sentiment Assessment: Aggregate news sentiment is NEUTRAL, with no strong positive or negative themes emerging.
Catalyst Identification: No immediate catalysts are apparent; however, future earnings announcements could provide potential upside.
Market Narrative: Technical signals remain dominant, while recent news headlines have not significantly influenced the stock price.
Risk & Volatility Assessment
Beta Interpretation: The stock has a low beta (0.08) compared to SPY, indicating lower volatility than the broader market.
Volatility Regime: Historical volatility is relatively low, with HV20 and HV30 at 1.3% and HV60 at 1.8%.
Options Market Signals: No options data available; however, the absence of significant activity may indicate a lack of institutional interest.
Downside Protection: Support levels are established near SMA 20 ($29.52) and the middle Bollinger Band ($29.52).
Market Context & Positioning
Sector Performance: CPSM's sector performance is neutral compared to the broader market.
Institutional Activity: No notable institutional activity has been observed in recent periods.
Correlation Analysis: The stock's correlation with the broader market (R-squared) is relatively high at 0.65, indicating a strong positive relationship.
Relative Valuation: CPSM appears reasonably valued within its trading range.
Key Levels & Action Items
Critical Price Levels:
- Support: SMA 20 ($29.52), middle Bollinger Band ($29.52)
- Resistance: Upper Bollinger Band ($29.58)
Breakout/Breakdown Levels: No significant levels have been identified; however, a breakout above the upper Bollinger Band or a breakdown below SMA 20 could trigger meaningful price movements.
Time-Sensitive Catalysts: Future earnings announcements may provide potential upside catalysts.
Risk Management: Stop-loss levels should be set near SMA 20 ($29.52) to manage risk. Position sizing considerations emphasize caution due to low volatility.
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.
- Beta (1Y vs SPY)
- 0.08
- Correlation (SPY)
- 65.4%
- R²
- 0.43
- Ann. Volatility
- 1.6%
- SPY Volatility
- 12.8%
Low volatility - stock moves less than market
Click any bar to view the full quote for that stock.
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|