Investing.comT3·3mo ago
FEZ State Street SPDR EURO STOXX 50 ETF
ETF 65.05 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history 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.
FEZ
$65.05
—
Key stats
$65.05
- 52-Week Range
- $59.56 – $72.36
- YTD
- -0.49%
- IV Rank (30D)
- 30.53
- Straddle Price
- $3.05
- P/C Vol Ratio
- 1.38
- Open
- $65.34
- Day Range
- $64.77 – $65.37
- Volume
- 1,175,363
- Prev Close
- $66.12
About
State Street SPDR EURO STOXX 50 ETF (FEZ) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2002-10-15
- Has Options
- Yes
- Homepage
- https://www.ssga.com/us/en/individual/etfs
Fund profile
holdings as of Oct 20, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.29% issuer, Oct 22, 2026
- Assets
- $4.1B issuer-reported, Oct 20, 2026
- Trailing yield
- 2.77% paid quarterly
- Average daily volume
- $68M 30 sessions
- Holdings
- 55 top 10 are 42.7%
- Listed
- Oct 15, 2002 NYSE Arca
- Net asset value
- $65.44 issuer, Oct 20, 2026 · closed +0.29% to NAV
- Median bid/ask spread
- 0.02% 30 days, issuer-reported
- 30-day SEC yield
- 2.03% issuer
- Tracking difference
- +0.15 pts vs index, after fees, FY 2025
Cost78
Liquidity94
Scale97
Diversification61
Moves with. US large-cap stocks (57% of its variance, beta 1.08); Developed markets ex-US over US (28% of its variance, beta 1.00); Long Treasuries (3% of its variance, beta 0.15). These factors explain 89% of its daily moves over the last year.
Stated objective. The State Street SPDR EURO STOXX 50 ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the EURO STOXX 50 Index. (from the fund's prospectus)
All 55 holdingsFlow historySimilar fundsOverlap toolAll Europe ETFs
Fund flows
daily as of Oct 19, 2026issuer datathrough Jun 2026SEC filings- Oct 19, 2026
- $0 latest day
- Latest 5 trading days
- −$64K
- Latest 21 trading days
- −$9.9M −0.2% of assets
- Year to date
- −$926M −$778M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 19, 2026 | $0 |
| Oct 16, 2026 | −$64K |
| Oct 15, 2026 | $0 |
| Oct 14, 2026 | $0 |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | $0 |
| Oct 8, 2026 | −$9.8M |
| Oct 7, 2026 | $0 |
| Oct 6, 2026 | $0 |
| Oct 5, 2026 | $0 |
| Oct 2, 2026 | $0 |
| Oct 1, 2026 | $0 |
| Sep 30, 2026 | $0 |
| Sep 29, 2026 | $0 |
| Sep 28, 2026 | $0 |
| Sep 25, 2026 | $0 |
| Sep 24, 2026 | $0 |
| Sep 23, 2026 | $0 |
| Sep 22, 2026 | $0 |
| Sep 21, 2026 | $0 |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- −$195M latest reported month
- Latest 3 months
- −$504M −11.6% of assets
- Latest 12 months
- −$1.1B −24.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$195M |
| May 2026 | −$66M |
| Apr 2026 | −$243M |
| Mar 2026 | −$451M |
| Feb 2026 | −$109M |
| Jan 2026 | +$143M |
| Dec 2025 | +$135M |
| Nov 2025 | +$9.4M |
| Oct 2025 | +$37M |
| Sep 2025 | −$61M |
| Aug 2025 | −$288M |
| Jul 2025 | +$21M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| EZUiShare MSCI Eurozone ETF of ISHARES INC. | 67% | 0.50% | $9.3B | +5.1% | compare |
| FLEUFranklin FTSE Eurozone ETF | 66% | 0.09% | $69M | +4.9% | compare |
| PTEUPacer TrendpilotTM European Index ETF | 65% | 0.65% | $35M | +5.4% | compare |
| DBEZXtrackers MSCI Eurozone Hedged Equity ETF | 60% | 0.45% | $73M | +12.4% | compare |
| HEDJWisdomTree Europe Hedged Equity Fund | 42% | 0.58% | $1.7B | +6.8% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 20, 2026issuer data- Insider buying
- 0% of weight had net insider buying, 90 days; 0% net selling
- Reporting earnings
- 8.2% of weight in 7 days; 13.2% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.72%
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
Mar 31, 2026 → Jun 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Decrease | ASML Holding NV | 9.76% | 10.39% | −23.3% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.6%. Full holdings and history
Under the hood
fiscal year to Sep 30, 2025SEC census- Authorized participants
- 7 active of 41 with agreements; top 3 did 69%
- Created · redeemed
- $1.3B · $1.1B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.88% of assets on loan on average; earned 1.0 bp
- Return vs index
- +0.15 pts after fees; +0.49 before; daily s.d. 3.81
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-21
Holdings
55
AUM
$4.2B
Provider
SPDR (State Street)
Inception
2002-10-15
Exchange
ARCX
Data As Of
2026-10-21
Expense Ratio
0.29%
Dividend Yield
2.76%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.1110 | CD |
| 2026-06-22 | 2026-06-24 | $1.1116 | CD |
| 2026-03-23 | 2026-03-25 | $0.0915 | CD |
| 2025-12-22 | 2025-12-24 | $0.5139 | CD |
| 2025-09-22 | 2025-09-24 | $0.0625 | CD |
| 2025-06-23 | 2025-06-25 | $1.0695 | CD |
Asset Allocation
Top Holdings
top 50 of 55 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| ASML | ASML HOLDING NV | 10.19% | Equity (Foreign) | NL |
| SAP | SAP SE | 4.72% | Equity (Foreign) | DE |
| SIE | SIEMENS AG REG | 4.40% | Equity (Foreign) | DE |
| TTE | TOTALENERGIES SE | 4.15% | Equity (Foreign) | FR |
| SAN | BANCO SANTANDER SA | 4.04% | Equity (Foreign) | ES |
| ALV | ALLIANZ SE REG | 3.73% | Equity (Foreign) | DE |
| SU | SCHNEIDER ELECTRIC SE | 3.24% | Equity (Foreign) | FR |
| IBE | IBERDROLA SA | 3.00% | Equity (Foreign) | ES |
| BBVA | BANCO BILBAO VIZCAYA ARGENTA | 2.89% | Equity (Foreign) | ES |
| AIR | AIRBUS SE | 2.63% | Equity (Foreign) | — |
| SAF | SAFRAN SA | 2.60% | Equity (Foreign) | FR |
| UCG | UNICREDIT SPA | 2.55% | Equity (Foreign) | IT |
| AI | AIR LIQUIDE SA | 2.49% | Equity (Foreign) | FR |
| ENR | SIEMENS ENERGY AG | 2.44% | Equity (Foreign) | DE |
| OR | L OREAL | 2.18% | Equity (Foreign) | FR |
| MC | LVMH MOET HENNESSY LOUIS VUI | 2.15% | Equity (Foreign) | — |
| ISP | INTESA SANPAOLO | 2.12% | Equity (Foreign) | IT |
| BNP | BNP PARIBAS | 2.03% | Equity (Foreign) | FR |
| DTE | DEUTSCHE TELEKOM AG REG | 1.98% | Equity (Foreign) | DE |
| INGA | ING GROEP NV | 1.93% | Equity (Foreign) | NL |
| SAN | SANOFI | 1.85% | Equity (Foreign) | FR |
| ABI | ANHEUSER BUSCH INBEV SA/NV | 1.73% | Equity (Foreign) | BE |
| CS | AXA SA | 1.71% | Equity (Foreign) | FR |
| ENEL | ENEL SPA | 1.61% | Equity (Foreign) | IT |
| MUV2 | MUENCHENER RUECKVER AG REG | 1.57% | Equity (Foreign) | DE |
| IFX | INFINEON TECHNOLOGIES AG | 1.56% | Equity (Foreign) | DE |
| ITX | INDUSTRIA DE DISENO TEXTIL | 1.42% | Equity (Foreign) | ES |
| DG | VINCI SA | 1.33% | Equity (Foreign) | FR |
| DB1 | DEUTSCHE BOERSE AG | 1.29% | Equity (Foreign) | DE |
| DBK | DEUTSCHE BANK AG REGISTERED | 1.24% | Equity (Foreign) | DE |
| DHL | DHL AG | 1.23% | Equity (Foreign) | DE |
| EL | ESSILORLUXOTTICA | 1.23% | Equity (Foreign) | FR |
| ENI | ENI SPA | 1.20% | Equity (Foreign) | IT |
| — | NORDEA BANK ABP | 1.20% | Equity (Foreign) | FI |
| ARGX | ARGENX SE | 1.11% | Equity (Foreign) | — |
| RHM | RHEINMETALL AG | 1.07% | Equity (Foreign) | DE |
| RMS | HERMES INTERNATIONAL | 1.07% | Equity (Foreign) | FR |
| BAS | BASF SE | 1.05% | Equity (Foreign) | DE |
| ENGI | ENGIE | 1.02% | Equity (Foreign) | FR |
| NOKIA | NOKIA OYJ | 1.00% | Equity (Foreign) | FI |
| PRX | PROSUS NV | 0.99% | Equity (Foreign) | NL |
| BAYN | BAYER AG REG | 0.98% | Equity (Foreign) | DE |
| RACE | FERRARI NV | 0.96% | Equity (Foreign) | — |
| BN | DANONE | 0.88% | Equity (Foreign) | FR |
| SGO | COMPAGNIE DE SAINT GOBAIN | 0.74% | Equity (Foreign) | FR |
| ADYEN | ADYEN NV | 0.67% | Equity (Foreign) | NL |
| MBG | MERCEDES BENZ GROUP AG | 0.66% | Equity (Foreign) | DE |
| ADS | ADIDAS AG | 0.65% | Equity (Foreign) | DE |
| AD | KONINKLIJKE AHOLD DELHAIZE N | 0.64% | Equity (Foreign) | — |
| BMW | BAYERISCHE MOTOREN WERKE AG | 0.43% | Equity (Foreign) | DE |
Geographic Breakdown
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -3.02% | -3.70% | 10.90% | 1.55% | 9.36% | 2.19% | 2.88% |
| Feb | 2.81% | -8.98% | -2.99% | 4.71% | 5.67% | 1.74% | 0.49% |
| Mar | 2.84% | 2.82% | 4.18% | 3.22% | -1.29% | -6.72% | 0.84% |
| Apr | 2.63% | -8.82% | 2.61% | -4.12% | 2.98% | 4.65% | -0.01% |
| May | 3.32% | 5.01% | -4.74% | 5.15% | 5.13% | 2.91% | 2.80% |
| Jun | -4.08% | -11.23% | 2.93% | -5.76% | -0.33% | 1.10% | -2.90% |
| Jul | 0.17% | 5.04% | 2.28% | -0.55% | -2.74% | 2.74% | 1.16% |
| Aug | 1.68% | -7.14% | -3.76% | 7.36% | 4.64% | 0.53% | 0.55% |
| Sep | -6.43% | -7.71% | -5.08% | 3.20% | 5.06% | -3.83% | -2.46% |
| Oct | 4.88% | 8.83% | -0.29% | -4.12% | -0.64% | -1.54%* | 1.19% |
| Nov | -7.15% | 15.85% | 10.19% | -3.69% | 0.86% | -- | 3.21% |
| Dec | 4.15% | -3.85% | 3.82% | -1.15% | 2.24% | -- | 1.04% |
| Total | 0.81% | -16.41% | 20.18% | 4.88% | 34.85% | 3.27% | 7.93% |
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: $66.35
SMA 50: $68.70
SMA 200: $67.24
Current: $65.06
EMA 12: $65.87
EMA 26: $66.76
MACD: -0.8892 | Signal: 0.0506
BEARISH
ADX (14): 33.13
TREND
+DI: 20.22
−DI: 38.04
Momentum Oscillators
RSI (14): 37.06
NEUTRAL
Stoch %K: 29.05
Stoch %D: 23.72
Williams %R: -88.07
Volume & Volatility
BB Upper: $68.45
BB Lower: $64.25
NEUTRAL
OBV: 48,919,374
Vol SMA 20: 1,097,215
Vol ROC: 1.42%
ATR: $0.82
True Range: $1.35
HV 20: 14.7%
HV 30: 14.6%
HV 60: 13.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
FEZ Stock Analysis Report
State Street SPDR EURO STOXX 50 ETF
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
FEZ is a passively managed European equity ETF tracking the EURO STOXX 50 index and is currently exhibiting significant technical weakness combined with persistent outflows. The fund is trading below its 20-day, 50-day, and near its 200-day moving averages, with a strong downtrend confirmed by ADX (34.93) and negative directional indicators (-DI: 38.47 vs +DI: 18.63). Most critically, the fund has experienced substantial redemptions totaling -$1.1B over 12 months (-24.5% of assets) and -$504M over the last 3 months (-11.6% of assets), indicating investor flight from European equities.
Investment Thesis: FEZ faces a confluence of technical deterioration, sustained fund outflows, and bearish options positioning that suggests continued downward pressure. The 4.84 put/call volume ratio and 3.91 open interest ratio signal defensive positioning and institutional de-risking. While the expense ratio (0.29%) remains competitive and holdings are quality large-cap European companies, the macro trend and fund flows indicate structural headwinds likely to persist.
Recent News Sentiment Impact: News headlines are predominantly neutral to slightly negative (4 neutral, 1 positive from April, 1 negative from May). The positive headline on TotalEnergies (April 24) provided no sustained support. The May 4 article questioning "Sell in May and Go Away" proved prescient, as the fund has not recovered. European geopolitical improvements (ceasefire news, April 16) failed to generate lasting upside, suggesting temporary relief rallies lack conviction.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): BEARISH
- Price $65.11 is below SMA 20 ($66.77), SMA 50 ($69.07), and near SMA 200 ($67.24)
- Current position is -1.66 (−2.5%) from 20-day average, indicating downtrend continuation
- EMA 12 ($66.07) above EMA 26 ($67.07) shows bearish crossover pattern emerging
Medium-term (1-3 months): BEARISH
- Price remains below the 50-day moving average by $3.96 (−5.7%), indicating weakness
- SMA 20 below SMA 50 confirms downtrend establishment
- 3-month fund outflows of $504M suggest investor sentiment shift
Long-term (3-12 months): BEARISH
- Price near 200-day moving average ($67.24), trading $2.13 (−3.2%) below it
- 12-month outflows of $1.1B represent structural headwind
- ADX at 34.93 indicates a strong, persistent downtrend (ADX >25 = strong trend)
Support/Resistance Levels
Critical Support:
- $64.35 — Bollinger Bands lower band (current support, $0.76 below price)
- $62.50 — Psychological level and previous technical support
- $61.00 — Major support zone (approximately 6.3% downside from current)
Resistance:
- $66.77 — SMA 20 (immediate overhead resistance)
- $69.07 — SMA 50 (significant resistance; requires +6.0% move)
- $69.20 — Bollinger Bands upper band (strong resistance)
Momentum Signals
RSI (14): 33.76 — Neutral with Bearish Lean
- Reading is in neutral zone (30-70) but on lower end, approaching oversold (<30)
- Suggests room for further downside before extreme oversold conditions
- Does not yet signal capitulation, indicating selling pressure can persist
MACD: -1.00 / Signal: -0.02 / Histogram: -0.97 — BEARISH
- MACD (-1.00) is significantly below signal line (-0.02), confirming bearish momentum
- Histogram of -0.97 shows negative divergence widening, indicating accelerating downward momentum
- No signs of bullish crossover near-term
Stochastic Oscillators: %K 16.53 / %D 17.43 — EXTREME WEAKNESS
- Both readings are extremely low, near 0, indicating oversold conditions
- %K below %D suggests continued downward momentum
- Potential for mean reversion bounce, but uptrend reversal not yet confirmed
Williams %R: -98.80 — CAPITULATION EXTREME
- Reading near -100 indicates extreme oversold conditions on this momentum indicator
- Suggests potential for sharp relief bounce, but within ongoing downtrend context
- Indicator may be signaling short-term tactical opportunity, not trend reversal
Bollinger Bands: Neutral Position
- Price ($65.11) is between lower band ($64.35) and middle band ($66.77)
- Width of $7.27 is moderate; not in squeeze (would suggest breakout pending)
- Position near lower band combined with extreme momentum readings suggests potential bounce target toward middle band ($66.77)
Volume Analysis
Volume Assessment: Mixed Signals
- Volume SMA 20: 1,119,551 shares (baseline daily volume)
- Volume Rate of Change: +0.84% (slightly elevated, suggesting increased participation)
- On-Balance Volume: 47,742,160 (cumulative, showing total distribution)
Institutional Interest Interpretation:
- Slight volume pickup (+0.84%) during downtrend suggests institutional selling, not accumulation
- OBV level is positive but declining, indicating distribution phase
- Volume during downtrend is a bearish signal; typically volume increases on down days indicate institutional exit
News & Sentiment Analysis
Recent Headlines Summary
| Date | Headline | Sentiment | Relevance | |------|----------|-----------|-----------| | Jul 1, 2026 | 3 European Stocks for Back Half of 2026 | NEUTRAL | General European equity commentary | | May 28 | TotalEnergies Wind Farm Forward (TTE 4.1% of fund) | NEUTRAL | Energy sector positive; TTE is 4th largest holding | | May 4 | Nasdaq 100 Leading; "Sell in May" Question | NEGATIVE | Implies European underperformance | | Apr 24 | What's Going On With TotalEnergies (TTE) | POSITIVE | Brief support for top holding | | Apr 16 | European Markets +3.9% on Ceasefire News | NEUTRAL | Geopolitical event temporary lift | | Apr 10 | TotalEnergies SATORP Refinery Damage | NEUTRAL | Operational issue, TTE is 4.1% of holdings |
Sentiment Assessment: NEGATIVE BIAS (Aggregate)
- Positive signals: 1 headline (April TotalEnergies) — insufficient to sustain rally
- Negative signals: 1 headline (May underperformance vs Nasdaq)
- Neutral signals: 4 headlines — lack conviction drivers
Key Finding: Despite some positive European commentary (wind farm, ceasefire), headlines have failed to generate sustained upside. The May 4 article's negative framing of European weakness relative to US tech proved prescient. No major negative news has emerged, but absence of positive catalysts combined with outflows creates vacuum.
Catalyst Identification
Near-term (1-4 weeks):
- Earnings catalyst: 6% of fund weight reports earnings within 7 days [as of 2026-10-15]
- Options expiration: 32 DTE expected move of $3.12 suggests consolidation near current levels before potential breakout
Medium-term (1-3 months):
- Geopolitical resolution: Further clarity on European stability could drive sector rotation
- Energy sector performance: TotalEnergies (4.1% of fund) remains relevant given oil price sensitivity
- US-Europe growth divergence: Macro trend of US outperformance may persist
Longer-term:
- ECB monetary policy: European central bank decisions affect equity valuations across holdings
- EU regulatory environment: Impact on ASML (10.0% of fund, semiconductor exposure) and other tech-heavy positions
Market Narrative
Conflict Between Signals:
- Technical: Strong downtrend (ADX 34.
Generated
News
All FEZ news →
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FEZ Options Activity & IV Rank
FEZ IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 21.3%
7-DTE IV: 23.9%
Expected Move: $3.05
7-DTE Move: $1.68
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 503
Put Volume: 696
P/C Volume: 1.384
BEARISH
Call OI: 8,638
Put OI: 31,906
P/C OI: 3.694
Total OI: 40,544
ATM Options Pricing
ATM Call: $1.62
ATM Put: $1.43
Call %: 2.5%
Put %: 2.2%
Chain Summary
Chain Volume: 14,766
Chain OI: 107,242
Last Updated: 10/22/2026
Spread Scanner GPU
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.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 23rd 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
23%
vs own history
GEX tilt
-0.31
OI-weighted, today
Vanna tilt
+0.07
δ-sensitivity to IV
Charm tilt
+0.07
δ-decay vs time
? What is this?
· 83 ATM contracts, 67k 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
—
—
pts
EXTREME
as of Oct 22 · ATM 28.3% / Wing —
30 DTE / 10d
84%
+18.2
pts
EXTREME
as of Oct 22 · ATM 20.9% / Wing 39.1%
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
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)24.3LowOct 22
IV Rank (30 DTE)30.5MediumOct 22
Straddle Price (30 DTE)$3.05Oct 22
Beta Analysis
Risk Metrics
Beta: 1.1160
Alpha: -10.32%
Correlation: 0.7697
R-Squared: 59.2%
Stock Volatility: 18.5%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Above average volatility - stock moves with market amplification
Above average volatility - stock moves with market amplification
Beta & Alpha Over Time
FEZ 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.
15 filers$1.46B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Barclays PLC Custodian | $958.09M | 65.58% | 2026-06-30 |
| 2 | UBS Group AG Custodian | $217.97M | 14.92% | 2026-06-30 |
| 3 | Jain Global LLC | $148.35M | 10.15% | 2026-06-30 |
| 4 | Jane Street Group, LLC Custodian | $52.69M | 3.61% | 2026-06-30 |
| 5 | Susquehanna International Group, LLP Custodian | $45.17M | 3.09% | 2026-06-30 |
| 6 | Citadel Advisors LLC Custodian | $11.58M | 0.79% | 2026-06-30 |
| 7 | Walleye Trading LLC | $7.62M | 0.52% | 2026-06-30 |
| 8 | Citigroup Inc. Custodian | $6.87M | 0.47% | 2026-06-30 |
| 9 | Wolverine Trading, LLC Custodian | $4.07M | 0.28% | 2025-09-30 |
| 10 | Marshall Wace, LLP Custodian | $3.59M | 0.25% | 2026-06-30 |
| 11 | Balyasny Asset Management L.P. | $2.21M | 0.15% | 2026-06-30 |
| 12 | SIG BROKERAGE, LP | $1.70M | 0.12% | 2026-06-30 |
| 13 | OLD MISSION CAPITAL LLC | $862.39K | 0.06% | 2026-06-30 |
| 14 | Twin Tree Management, LP | $68.68K | <0.01% | 2026-06-30 |
| 15 | Horizon Investments, LLC | $68.68K | <0.01% | 2026-06-30 |
17 filers$235.46M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $106.91M | 45.40% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $59.64M | 25.33% | 2026-06-30 |
| 3 | SCOPUS ASSET MANAGEMENT, L.P. | $17.17M | 7.29% | 2026-06-30 |
| 4 | UBS Group AG Custodian | $13.05M | 5.54% | 2026-06-30 |
| 5 | Citadel Advisors LLC Custodian | $10.31M | 4.38% | 2026-06-30 |
| 6 | Edenbrook Capital, LLC | $6.87M | 2.92% | 2026-06-30 |
| 7 | DeepCurrents Investment Group LLC | $6.87M | 2.92% | 2026-06-30 |
| 8 | CAPITAL FUND MANAGEMENT S.A. | $3.38M | 1.44% | 2026-06-30 |
| 9 | CREDIT INDUSTRIEL ET COMMERCIAL | $3.09M | 1.31% | 2026-06-30 |
| 10 | TUDOR INVESTMENT CORP ET AL | $2.75M | 1.17% | 2026-06-30 |
| 11 | Wolverine Trading, LLC Custodian | $2.49M | 1.06% | 2025-09-30 |
| 12 | Balyasny Asset Management L.P. | $1.33M | 0.57% | 2026-06-30 |
| 13 | Brookwood Investment Group LLC | $789.82K | 0.34% | 2026-06-30 |
| 14 | Marshall Wace, LLP Custodian | $748.61K | 0.32% | 2026-06-30 |
| 15 | OLD MISSION CAPITAL LLC | $66.46K | 0.03% | 2026-06-30 |
| 16 | Walleye Trading LLC | $6.87K | <0.01% | 2026-06-30 |
| 17 | BLUEFIN CAPITAL MANAGEMENT, LLC | $1.56K | <0.01% | 2026-06-30 |
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
2.36M
SI % of Float
3.74%
Days to Cover
2.47
Short Vol Ratio
53.1%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-22
FEZ Constituent Performance
Click any bar to view the full quote for that stock.
FEZ Constituents (23 of 49)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| ASML | ASML HOLDING NV | 10.19% | $1560.54 | -6.93% | -5.85% | -9.40% |
| SAP | SAP SE | 4.72% | $240.59 | +3.38% | +6.93% | +15.05% |
| TTE | TOTALENERGIES SE | 4.15% | $90.96 | +0.69% | +2.79% | -1.01% |
| ALV | ALLIANZ SE REG | 3.73% | $118.88 | +2.54% | +2.52% | +4.35% |
| SU | SCHNEIDER ELECTRIC SE | 3.24% | $77.41 | -2.04% | +2.34% | +12.76% |
| BBVA | BANCO BILBAO VIZCAYA ARGENTA | 2.89% | $25.03 | -2.95% | -3.55% | -12.08% |
| AIR | AIRBUS SE | 2.63% | $96.67 | -2.98% | -1.34% | -19.82% |
| SAF | SAFRAN SA | 2.60% | $25.01 | +0.08% | +0.08% | -1.30% |
| AI | AIR LIQUIDE SA | 2.49% | $12.03 | +2.04% | -1.07% | +11.80% |
| ENR | SIEMENS ENERGY AG | 2.44% | $23.43 | +2.94% | +6.50% | +5.54% |
| OR | L OREAL | 2.18% | $33.33 | -4.25% | -5.20% | -6.74% |
| MC | LVMH MOET HENNESSY LOUIS VUI | 2.15% | $55.06 | +3.77% | -0.47% | -4.44% |
| DTE | DEUTSCHE TELEKOM AG REG | 1.98% | $133.06 | +2.63% | +3.69% | +9.80% |
| SAN | SANOFI | 1.85% | $12.9 | -2.93% | -4.16% | -9.66% |
| ABI | ANHEUSER BUSCH INBEV SA/NV | 1.73% | $24.59 | +0.24% | +0.06% | +0.20% |
| CS | AXA SA | 1.71% | $0.89 | +0.99% | -1.03% | +4.54% |
| DG | VINCI SA | 1.33% | $139.11 | +5.29% | +3.90% | +13.53% |
| EL | ESSILORLUXOTTICA | 1.23% | $107.72 | +3.92% | +0.49% | +12.95% |
| ARGX | ARGENX SE | 1.11% | $875.76 | -1.61% | +3.48% | -8.99% |
| RACE | FERRARI NV | 0.96% | $397.66 | +0.11% | -0.15% | -3.44% |
| BN | DANONE | 0.88% | $38.28 | +2.05% | +3.99% | +4.50% |
| ADS | ADIDAS AG | 0.65% | $56.8 | +1.16% | -4.86% | -6.85% |
| AD | KONINKLIJKE AHOLD DELHAIZE N | 0.64% | $33.32 | +1.59% | -0.57% | -3.39% |