FHLC offers broader sector exposure at a 0.08% expense ratio, compared with IBB's concentrated biotech focus at 0.44%, but IBB delivered stronger 1-year returns despite higher volatility.
FHLC Fidelity MSCI Health Care Index ETF
ETF 85.91 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.
FHLC
$85.91
—
Key stats
$85.91
- 52-Week Range
- $68.46 – $86.37
- YTD
- +15.22%
- IV Rank (30D)
- 44.77
- Straddle Price
- $1.88
- P/C Vol Ratio
- 0.06
- Open
- $85.55
- Day Range
- $85.43 – $86.30
- Volume
- 170,625
- Prev Close
- $86.30
About
Fidelity MSCI Health Care Index ETF (FHLC) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2013-10-21
- Has Options
- Yes
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jul 2026flows, SEC filings
- Expense ratio
- 0.08% issuer, Oct 21, 2026
- Assets
- $3.7B issuer-reported, Oct 19, 2026
- Trailing yield
- 1.18% paid quarterly
- Average daily volume
- $25M 30 sessions
- Holdings
- 348 top 10 are 52.1%
- Listed
- Oct 21, 2013 NYSE Arca
- Net asset value
- $86.19 issuer, Oct 20, 2026
- 30-day SEC yield
- 1.24% issuer, Oct 16, 2026
- Tracking difference
- -0.07 pts vs index, after fees, FY 2025
Cost93
Liquidity80
Scale95
Diversification52
Moves with. US large-cap stocks (16% of its variance, beta 0.74); Value over growth (11% of its variance, beta 0.48); Long Treasuries (4% of its variance, beta 0.23); Developed markets ex-US over US (4% of its variance, beta 0.25). These factors explain 41% of its daily moves over the last year.
Stated objective. Fidelity MSCI Health Care Index ETF seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Health Care 25/50 Index. (from the fund's prospectus)
All 348 holdingsFlow historySimilar fundsOverlap toolAll Health Care ETFs
Fund flows
through Jul 2026SEC filings- Jul 2026
- +$13M latest reported month
- Latest 3 months
- +$89M +2.7% of assets
- Latest 12 months
- +$288M +8.8% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$13M |
| Jun 2026 | +$19M |
| May 2026 | +$57M |
| Apr 2026 | +$50M |
| Mar 2026 | +$29M |
| Feb 2026 | +$96M |
| Jan 2026 | +$7.2M |
| Dec 2025 | +$3.7M |
| Nov 2025 | +$49M |
| Oct 2025 | −$3.5M |
| Sep 2025 | +$6.5M |
| Aug 2025 | −$39M |
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 | |
|---|---|---|---|---|---|
| VHTVanguard Health Care ETF | 97% | 0.09% | $20.2B | +24.7% | compare |
| IYHiShares U.S. Healthcare ETF | 88% | 0.37% | $4.5B | +25.1% | compare |
| XLVState Street Health Care Select Sector SPDR ETF | 86% | 0.08% | $46.1B | +25.5% | compare |
| TRUHVanEck Healthcare TruSector ETF | 85% | — | $833K | — | compare |
| IXJiShares Global Healthcare ETF | 74% | 0.38% | $4.6B | +18.9% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 19, 2026issuer data- Holdings vs fair value
- +1.7% 25% under, 22% over · 100% covered
- Price / earnings
- 44.9 12% loss-making · 100% covered
- Price / book · sales
- 4.8 · 1.8 revenue growth +8.9%
- Above 200-day average
- 86% 76% above 50-day · by weight
- Short interest
- 3.1% of float, weighted · 3.5 days to cover
- Insider buying
- 4% of weight had net insider buying, 90 days; 68% net selling
- 13F holders
- +2.3% change in shares held by institutions, latest quarter
- Reporting earnings
- 15.4% of weight in 7 days; 71.2% in 14
Holdings reporting in the next 14 days · weighted implied move this week 1.30%
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
Apr 30, 2026 → Jul 31, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Increase | CORCencora Inc | 0.13% | 0.83% | +303.7% |
| New position | MDLNMedline Inc | — | 0.21% | — |
| Exit | NUVLNuvalent Inc | 0.06% | — | — |
| Increase | Roivant Sciences Ltd | 0.17% | 0.23% | +23.8% |
| Exit | CPRXCatalyst Pharmaceuticals Inc | 0.05% | — | — |
| Exit | APLSApellis Pharmaceuticals Inc | 0.05% | — | — |
| Exit | TERNTerns Pharmaceuticals Inc | 0.05% | — | — |
| Increase | DFTXDefinium Therapeutics Inc | 0.03% | 0.07% | +36.3% |
| Exit | SLNOSoleno Therapeutics Inc | 0.04% | — | — |
| Exit | SEMSelect Medical Holdings Corp | 0.03% | — | — |
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 Jul 31, 2025SEC census- Authorized participants
- 6 active of 28 with agreements; top 3 did 80%
- Created · redeemed
- $71M · $443M over the fiscal year
- Redemptions in kind
- 99% creations 99% in kind
- Creation unit
- 50,000 shares
- Securities lending
- not authorized
- Return vs index
- -0.07 pts after fees; +0.01 before; daily s.d. 0.01
- 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.
ETF Profile
holdings as of 2026-10-20
Holdings
348
AUM
$3.8B
Provider
Fidelity
Inception
2013-10-21
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.08%
Dividend Yield
1.19%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-18 | 2026-09-22 | $0.2540 | CD |
| 2026-06-18 | 2026-06-23 | $0.2630 | CD |
| 2026-03-20 | 2026-03-24 | $0.2290 | CD |
| 2025-12-19 | 2025-12-23 | $0.2720 | CD |
| 2025-09-19 | 2025-09-23 | $0.2560 | CD |
| 2025-06-20 | 2025-06-24 | $0.2570 | CD |
Asset Allocation
Top Holdings
top 50 of 348 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| LLY | ELI LILLY & CO | 13.58% | Equity (US) | US |
| JNJ | JOHNSON & JOHNSON | 8.25% | Equity (US) | US |
| ABBV | ABBVIE INC | 6.75% | Equity (US) | US |
| UNH | UNITEDHEALTH GROUP INC | 5.03% | Equity (US) | US |
| MRK | MERCK & CO INC NEW | 4.84% | Equity (US) | US |
| TMO | THERMO FISHER SCIENTIFIC INC | 3.38% | Equity (US) | US |
| AMGN | AMGEN INC | 3.13% | Equity (US) | US |
| GILD | GILEAD SCIENCES INC | 2.57% | Equity (US) | US |
| ABT | ABBOTT LABORATORIES | 2.36% | Equity (US) | US |
| PFE | PFIZER INC | 2.27% | Equity (US) | US |
| ISRG | INTUITIVE SURGICAL INC | 2.05% | Equity (US) | US |
| DHR | DANAHER CORP | 1.89% | Equity (US) | US |
| VRTX | VERTEX PHARMACEUTICALS INC | 1.73% | Equity (US) | US |
| BMY | BRISTOL-MYERS SQUIBB CO | 1.66% | Equity (US) | US |
| MDT | MEDTRONIC PLC | 1.60% | Equity (US) | US |
| CVS | CVS HEALTH CORP | 1.60% | Equity (US) | US |
| MCK | MCKESSON CORP | 1.59% | Equity (US) | US |
| — | SECURITIES LENDING CF | 1.48% | Cash/Money Market | — |
| SYK | STRYKER CORP | 1.39% | Equity (US) | US |
| ELV | ELEVANCE HEALTH INC | 1.26% | Equity (US) | US |
| REGN | REGENERON PHARMACEUTICALS INC | 1.10% | Equity (US) | US |
| MRNA | MODERNA INC | 1.08% | Equity (US) | US |
| CI | CIGNA GROUP (THE) | 1.07% | Equity (US) | US |
| HCA | HCA HEALTHCARE INC | 0.96% | Equity (US) | US |
| BSX | BOSTON SCIENTIFIC CORP | 0.90% | Equity (US) | US |
| COR | CENCORA INC | 0.84% | Equity (US) | US |
| CAH | CARDINAL HEALTH INC | 0.80% | Equity (US) | US |
| NTRA | NATERA INC | 0.73% | Equity (US) | US |
| BDX | BECTON DICKINSON & CO | 0.71% | Equity (US) | US |
| HUM | HUMANA INC | 0.68% | Equity (US) | US |
| EW | EDWARDS LIFESCIENCES CORP | 0.67% | Equity (US) | US |
| A | AGILENT TECHNOLOGIES INC | 0.65% | Equity (US) | US |
| VEEV | VEEVA SYS INC CL A | 0.62% | Equity (US) | US |
| IQV | IQVIA HOLDINGS INC | 0.59% | Equity (US) | US |
| IDXX | IDEXX LABS INC | 0.58% | Equity (US) | US |
| WAT | WATERS CORP | 0.57% | Equity (US) | US |
| ILMN | ILLUMINA INC | 0.52% | Equity (US) | US |
| BIIB | BIOGEN INC | 0.47% | Equity (US) | US |
| RMD | RESMED INC | 0.47% | Equity (US) | US |
| CNC | CENTENE CORP | 0.46% | Equity (US) | US |
| ZTS | ZOETIS INC CL A | 0.44% | Equity (US) | US |
| RVMD | REVOLUTION MEDICINES INC | 0.44% | Equity (US) | US |
| DXCM | DEXCOM INC | 0.44% | Equity (US) | US |
| MTD | METTLER-TOLEDO INTL INC | 0.44% | Equity (US) | US |
| GEHC | GE HEALTHCARE TECHNOLOGIES INC | 0.42% | Equity (US) | US |
| ALNY | ALNYLAM PHARMACEUTICALS INC | 0.41% | Equity (US) | US |
| WST | WEST PHARMACEUTICAL SVCS INC | 0.36% | Equity (US) | US |
| LH | LABCORP HOLDINGS INC | 0.35% | Equity (US) | US |
| DGX | QUEST DIAGNOSTICS INC | 0.35% | Equity (US) | US |
| RPRX | ROYALTY PHARMA PLC | 0.34% | Equity (US) | US |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 2.96% | -7.25% | -0.39% | 0.81% | 6.71% | -0.58% | 0.38% |
| Feb | -2.32% | -1.28% | -5.09% | 2.00% | 0.16% | 2.28% | -0.71% |
| Mar | 0.20% | 5.29% | 1.42% | 0.78% | -2.61% | -6.88% | -0.30% |
| Apr | 4.09% | -7.07% | 2.13% | -4.44% | -1.69% | -0.72% | -1.28% |
| May | 0.05% | 1.25% | -4.61% | 1.84% | -2.39% | 3.05% | -0.14% |
| Jun | 4.56% | -1.11% | 2.89% | 0.73% | 1.64% | 8.10% | 2.80% |
| Jul | 2.75% | 2.65% | 1.72% | 3.62% | -3.91% | 1.43% | 1.38% |
| Aug | 2.19% | -4.58% | -0.55% | 3.79% | 5.14% | 5.09% | 1.85% |
| Sep | -5.82% | -4.79% | -4.22% | -1.56% | 1.52% | -1.70% | -2.76% |
| Oct | 4.26% | 6.69% | -3.54% | -3.76% | 1.37% | 6.61%* | 1.94% |
| Nov | -4.16% | 4.48% | 5.48% | 0.11% | 8.95% | -- | 2.97% |
| Dec | 7.91% | -2.74% | 4.41% | -6.67% | -0.63% | -- | 0.46% |
| Total | 17.01% | -9.31% | -1.07% | -3.29% | 14.28% | 16.98% | 5.77% |
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: $82.73
SMA 50: $82.61
SMA 200: $76.15
Current: $85.91
EMA 12: $83.91
EMA 26: $82.99
MACD: 0.9268 | Signal: 0.4603
BULLISH
ADX (14): 14.96
RANGE
+DI: 31.90
−DI: 16.81
Momentum Oscillators
RSI (14): 64.55
NEUTRAL
Stoch %K: 89.15
Stoch %D: 85.21
Williams %R: -6.91
Volume & Volatility
BB Upper: $86.08
BB Lower: $79.39
NEUTRAL
OBV: -5,007,356
Vol SMA 20: 269,613
Vol ROC: -26.62%
ATR: $1.28
True Range: $0.87
HV 20: 17.7%
HV 30: 15.9%
HV 60: 16.7%
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: FHLC
Executive Summary Overall Assessment: NEUTRAL (confidence level 6/10) Key Drivers:
- Bullish technical momentum signals
- Positive recent news headlines Primary Risks:
- High implied volatility
- Potential for market volatility to impact stock performance
Investment Thesis: FHLC is poised to continue its uptrend, driven by positive fundamental and technical factors. However, the high implied volatility and potential for market fluctuations may impact its performance.
Recent News Sentiment Impact: The recent news headlines have been overwhelmingly positive, with multiple articles highlighting the fund's outperformance and competitive advantage. This has contributed to the bullish sentiment and momentum in the stock price.
Technical Analysis
- Trend Direction: Short-term (1-4 weeks): Bullish, Medium-term (1-3 months): Bullish, Long-term (3-12 months): Neutral
- Support/Resistance Levels: Key levels include the current price of $81.29, SMA 20 ($79.96), and upper Bollinger Band ($82.70).
- Momentum Signals:
- RSI interpretation: Overbought (62.01), potential for a pullback or correction
- MACD signal: Bullish momentum, indicating a strong uptrend
- Bollinger Bands position: Neutral, with the stock price hovering near the middle band
- Volume Analysis: Volume trends suggest institutional interest and buying pressure.
News & Sentiment Analysis
- Recent Headlines Summary: The recent news headlines highlight the fund's outperformance, competitive advantage, and strong fundamentals.
- Sentiment Assessment: Positive sentiment dominates, with multiple articles contributing to the overall optimism.
- Catalyst Identification: No near-term catalysts identified, but the continued positive momentum could drive future growth.
- Market Narrative: The news headlines align with the technical signals, indicating a strong uptrend.
Risk & Volatility Assessment
- Beta Interpretation: Low risk relative to the market (beta 0.35).
- Volatility Regime: Current volatility is low compared to historical levels.
- Options Market Signals: High implied volatility (IV Rank: 65.1%), with options market pricing a $3.20 move by expiration.
- Downside Protection: Support levels include the SMA 20 ($79.96) and upper Bollinger Band ($82.70).
Market Context & Positioning
- Sector Performance: The healthcare sector has been performing well, contributing to FHLC's strong fundamentals.
- Institutional Activity: Institutional interest is high, with buying pressure evident in the volume trends.
- Correlation Analysis: FHLC has a low correlation (0.30) with the market, indicating potential diversification benefits.
- Relative Valuation: The stock is positioned within a trading range, with the upper Bollinger Band serving as resistance.
Key Levels & Action Items
- Critical Price Levels: Support at SMA 20 ($79.96), resistance at upper Bollinger Band ($82.70).
- Breakout/Breakdown Levels: A breakout above the upper Bollinger Band could trigger further gains.
- Time-Sensitive Catalysts: No near-term catalysts identified, but continued positive momentum could drive future growth.
- Risk Management: Monitor volume and volatility trends to adjust position sizing and stop-loss levels accordingly.
Data Interpretation
- RSI: Overbought (62.01), potential for a pullback or correction
- MACD: Bullish momentum, indicating a strong uptrend
- Moving Averages: Price above SMA 20 ($79.96) and SMA 50 ($77.71), indicating an uptrend
News Impact Assessment
- Positive News: Recent news headlines have been overwhelmingly positive.
- Negative News: None identified.
- Neutral News: None identified.
Risk Assessment Criteria
- High Risk: Beta >1.5, high volatility, negative news sentiment
- Medium Risk: Beta 0.8-1.5, moderate volatility, mixed signals
- Low Risk: Beta <0.8, low volatility, positive fundamentals, strong technical support
This comprehensive analysis provides a neutral outlook for FHLC, highlighting the fund's potential for continued growth and its positioning within a trading range. The bullish momentum signals are supported by positive recent news headlines, while the high implied volatility and market fluctuations pose potential risks.
Generated
News
All FHLC news →
VanEck's concentrated 25-stock biotech portfolio surged 40.5% in one year, but Fidelity's diversified 365-holding fund delivered superior risk-adjusted returns with half the volatility.
FHLC Options Activity & IV Rank
FHLC IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 19.2%
7-DTE IV: —
Expected Move: $1.88
7-DTE Move: $1.88
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 18
Put Volume: 1
P/C Volume: 0.056
BULLISH
Call OI: 17
Put OI: 1
P/C OI: 0.059
Total OI: 18
ATM Options Pricing
ATM Call: $0.00
ATM Put: $1.88
Call %: 0.0%
Put %: 2.2%
Chain Summary
Chain Volume: 191
Chain OI: 162
Last Updated: 10/21/2026
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
LOW γ vs HISTORY
Estimated net dealer gamma is at the 2nd percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
2%
vs own history
GEX tilt
-0.75
OI-weighted, today
Vanna tilt
+0.37
δ-sensitivity to IV
Charm tilt
-1.00
δ-decay vs time
Vanna tilt +0.37: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -1.00: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 3 ATM contracts, 0k 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 21 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · ATM 19.5% / Wing —
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)
IV Rank (30 DTE)44.8MediumOct 21
Straddle Price (30 DTE)$1.88Oct 21
Beta Analysis
Risk Metrics
Beta: 0.3297
Alpha: 17.18%
Correlation: 0.2654
R-Squared: 7.0%
Stock Volatility: 15.8%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
FHLC 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.
1 filers$1.13M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $1.13M | 100.00% | 2026-06-30 |
| # | Filer | Notional Value | % of Total | Period |
|---|
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
227.20K
SI % of Float
0.51%
Days to Cover
1.00
Short Vol Ratio
42.2%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|