CPSU Calamos S&P 500 Structured Alt Protection ETF - June
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Calamos S&P 500 Structured Alt Protection ETF - June (CPSU) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2025-05-30
- Has Options
- No
- Expense ratio
- 0.69% prospectus, filed Nov 21, 2025
- Assets
- $26M SEC filing, Jul 31, 2026
- Trailing yield
- —
- Average daily volume
- $40K 30 sessions
- Holdings
- 3 top 10 are 102.4%
- Listed
- May 30, 2025 NYSE Arca
- Reference asset
- SPX period ends May 28, 2027 (218 days)
- Cap, full period
- 7.3% before fees
- Protection, full period
- 100.0% losses below the start level
- Reference since start
- +2.5% $775.72 on Oct 21, 2026
- Upside left to the cap
- 4.6% for a buyer today
- Drop before the buffer starts
- 2.5% unprotected from here
Moves with. US large-cap stocks (69% of its variance, beta 0.15). These factors explain 69% of its daily moves over the last year.
Stated objective. "Calamos S&P 500 ? Structured Alt Protection ETF ? June (the ""Fund"") seeks to provide investment results that, before taking fees and expenses into account, match the positive price return of the SPDR ? S&P 500 ? ETF Trust (""Underlying ETF"") up to a cap of 7.33% (the ""Cap""), while protecting against 100% of negative price return of the Underlying ETF (before fees and expenses), for the period from June 1, 2025 through May 31, 2026." (from the fund's prospectus)
All 3 holdingsFlow historyOverlap toolAll Floor & Protection ETFs
- Jul 2026
- +$1.4M latest reported month
- Latest 3 months
- +$13M +49.7% of assets
- Latest 12 months
- +$14M +52.4% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$1.4M |
| Jun 2026 | +$12M |
| May 2026 | −$1 |
| Apr 2026 | $0 |
| Mar 2026 | +$681K |
| Feb 2026 | $0 |
| Jan 2026 | +$679K |
| Dec 2025 | +$674K |
| Nov 2025 | $0 |
| Oct 2025 | $0 |
| Sep 2025 | $0 |
| Aug 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 14 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| JAJLInnovator Equity Defined Protection ETF - 6mo Jan/Jul | — | 0.79% | $304M | +5.8% | compare |
| ZSEPInnovator Equity Defined Protection ETF - 1 Yr September | — | 0.79% | $243M | +5.5% | compare |
| ZOCTInnovator Equity Defined Protection ETF - 1 Yr October | — | 0.79% | $215M | +6.0% | compare |
| ZJULInnovtor Equity Defined Protection ETF - 1 Yr July | — | 0.79% | $195M | +5.5% | compare |
| ZAUGInnovator Equity Defined Protection ETF - 1 Yr August | — | 0.79% | $163M | +5.7% | compare |
The largest other funds in the Floor & Protection category.
- Authorized participants
- 2 active of 8 with agreements; top 3 did 100%
- Created · redeemed
- $25M · $13M over the fiscal year
- Redemptions in kind
- 99% creations 0% in kind
- Creation unit
- 25,000 shares
- Securities lending
- not authorized
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | Goldman Sachs & Co. LLC | 97.08% | Derivative (equity) | US |
| — | Goldman Sachs & Co. LLC | 5.36% | Derivative (equity) | US |
| — | Goldman Sachs & Co. LLC | -3.18% | Derivative (equity) | US |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Derivative (equity) | 99.26% | $26.2M | 3 |
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | -- | 0.35% | 0.35% |
| Feb | -- | 0.24% | 0.24% |
| Mar | -- | -0.32% | -0.32% |
| Apr | -- | 1.23% | 1.23% |
| May | -- | 0.36% | 0.36% |
| Jun | 1.11% | -0.39% | 0.36% |
| Jul | 0.38% | 0.29% | 0.33% |
| Aug | 0.70% | 0.36% | 0.53% |
| Sep | 0.68% | 0.24% | 0.46% |
| Oct | 0.37% | 0.29%* | 0.33% |
| Nov | 0.32% | -- | 0.32% |
| Dec | 0.65% | -- | 0.65% |
| Total | 4.28% | 2.67% | 3.48% |
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
Here is the LLM Stock Analysis Prompt Template filled with the given stock data:
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers:
- Bullish MACD signal indicates potential upward momentum
- Neutral RSI reading suggests no clear trend
- Low volatility and beta indicate a relatively stable market
Primary Risks:
- No recent news available to influence the stock price
- Low volume activity may limit market participation
Investment Thesis: CPSU appears to be consolidating within a range, with potential for further upward momentum based on the bullish MACD signal.
Recent News Sentiment Impact: N/A (No recent news headlines provided)
Technical Analysis
Trend Direction:
- Short-term: NEUTRAL
- Medium-term: BULLISH
- Long-term: BEARISH
Support/Resistance Levels:
- SMA 20: $27.90 (support)
- Upper Bollinger Band: $27.95 (resistance)
- Historical Volatility High: $0.08 (resistance)
Momentum Signals:
- MACD signal: Bullish
- RSI interpretation: Neutral (57.08)
- Bollinger Bands position: Neutral
Volume Analysis:
- Volume SMA 20: 1765.00
- On-Balance Volume (OBV): 331670.83
- Volume Rate of Change: 158.74% (indicating increasing volume)
News & Sentiment Analysis
Recent Headlines Summary: N/A (No recent news headlines provided)
Sentiment Assessment: N/A (No sentiment data available)
Catalyst Identification: N/A (No upcoming events or earnings announced)
Market Narrative: The lack of recent news and neutral RSI reading suggest a market in consolidation, with no clear catalyst for significant price movement.
Risk & Volatility Assessment
Risk Metrics:
- Beta: 0.14 (low risk)
- Alpha: 0.02
- Correlation: 0.83
- Stock Volatility: 0.02 (low volatility)
Volatility Regime: Low volatility regime, with historical volatility indicators suggesting relatively stable market conditions.
Options Market Signals: N/A (No options data available)
Downside Protection:
- Support levels: SMA 20 and Upper Bollinger Band
- Risk management considerations: Conservative approach recommended due to low volume activity
Market Context & Positioning
Sector Performance: N/A (No sector performance data provided)
Institutional Activity: N/A (No institutional activity indicators available)
Correlation Analysis: The stock exhibits a relatively strong correlation with the market, with an R-squared value of 0.83.
Relative Valuation: CPSU appears to be trading within a range, with no clear upward or downward momentum.
Key Levels & Action Items
Critical Price Levels:
- SMA 20: $27.90 (support)
- Upper Bollinger Band: $27.95 (resistance)
Breakout/Breakdown Levels:
- Historical Volatility High: $0.08 (resistance)
- Lower Bollinger Band: $27.84 (support)
Time-Sensitive Catalysts: N/A (No upcoming events or earnings announced)
Risk Management: Conservative approach recommended due to low volume activity and lack of recent news.
Please note that this analysis is based solely on the provided data, without any buy/sell advice or personal opinions.
CPSU 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: 251
Period: 252 trading days
Low volatility - stock moves less than market
CPSU Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional 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 |
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| # | Filer | Notional Value | % of Total | Period |
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