Zacks Investment ResearchT3·1mo ago
FRDM Freedom 100 Emerging Markets ETF
ETF 65.61 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.
FRDM
$65.61
—
Key stats
$65.61
- 52-Week Range
- $45.41 – $76.90
- YTD
- +24.71%
- IV Rank (30D)
- 65.55
- Straddle Price
- $0.00
- P/C Vol Ratio
- 0.07
- Open
- $65.88
- Day Range
- $65.23 – $65.97
- Volume
- 257,451
- Prev Close
- $64.82
About
Freedom 100 Emerging Markets ETF (FRDM) ETF
No description available.
- Exchange
- BATS
- Inception
- 2019-05-22
- Has Options
- Yes
Fund profile
holdings as of Jun 30, 2026SEC filingthrough Jun 2026flows, SEC filings
- Expense ratio
- 0.49% prospectus, filed Jan 22, 2026
- Assets
- $3.3B shares × price, Oct 20, 2026
- Trailing yield
- 1.82% paid quarterly
- Average daily volume
- $21M 30 sessions
- Holdings
- 130 top 10 are 56.6%
- Listed
- May 22, 2019 Cboe BZX
Cost55
Liquidity78
Scale94
Diversification46
Moves with. Emerging markets over US (54% of its variance, beta 1.13); US large-cap stocks (31% of its variance, beta 1.08); Value over growth (6% of its variance, beta -0.19). These factors explain 94% of its daily moves over the last year.
Stated objective. The Freedom 100 Emerging Markets ETF (the Fund) seeks to track the total return performance, before fees and expenses, of the Freedom 100 Emerging Markets Index (the Index). (from the fund's prospectus)
All 130 holdingsFlow historySimilar fundsOverlap toolAll Emerging Markets ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- +$66M latest reported month
- Latest 3 months
- +$158M +4.4% of assets
- Latest 12 months
- +$1.1B +30.6% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$66M |
| May 2026 | +$80M |
| Apr 2026 | +$12M |
| Mar 2026 | +$37M |
| Feb 2026 | +$271M |
| Jan 2026 | +$319M |
| Dec 2025 | +$88M |
| Nov 2025 | +$38M |
| Oct 2025 | +$62M |
| Sep 2025 | +$38M |
| Aug 2025 | +$44M |
| Jul 2025 | +$46M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 78 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| STXEStrive Emerging Markets Ex-China ETF | 39% | 0.32% | $150M | +33.4% | compare |
| EMEMSophus Capital Emerging Market ETF | 28% | 0.65% | $61M | — | compare |
| NSINational Security Emerging Markets Index ETF | 11% | 0.75% | $42M | +13.0% | compare |
| SPWOSP Funds S&P World (ex-US) ETF | 10% | 0.55% | $200M | +17.4% | compare |
| AVXCAvantis Emerging Markets ex-China Equity ETF | 10% | 0.33% | $447M | +27.7% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Jun 30, 2026SEC filing- Insider buying
- 9% of weight had net insider buying, 90 days; 1% net selling
- Reporting earnings
- 2.0% of weight in 7 days; 2.0% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.28%
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
Dec 31, 2025 → Mar 31, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Decrease | Samsung Electronics Co Ltd | 11.82% | 8.91% | −36.4% |
| Decrease | SK hynix Inc | 6.84% | 5.08% | −29.4% |
| Decrease | Falabella SA | 4.19% | 2.88% | −13.3% |
| Increase | Vale SA | 2.52% | 3.79% | +37.4% |
| Increase | Delta Electronics Inc | 1.68% | 2.95% | +38.0% |
| New position | Plaza SA | — | 1.24% | — |
| New position | ASE Technology Holding Co Ltd | — | 0.99% | — |
| New position | Cia de Saneamento Basico do Estado de Sao Paulo SABESP | — | 0.95% | — |
| Exit | ITUBItau Unibanco Holding SA | 0.95% | — | — |
| New position | Parque Arauco SA | — | 0.93% | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 17.9%. Full holdings and history
ETF Profile
holdings as of 2026-06-30
Holdings
130
AUM
$3.6B
Provider
Nport
Inception
2019-05-22
Exchange
BATS
Data As Of
2026-06-30
Expense Ratio
0.49%
Dividend Yield
1.80%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-28 | 2026-09-30 | $0.2934 | CD |
| 2026-06-29 | 2026-07-02 | $0.3302 | CD |
| 2026-03-30 | 2026-04-02 | $0.2265 | CD |
| 2025-12-23 | 2025-12-26 | $0.3292 | CD |
| 2025-09-29 | 2025-09-30 | $0.2151 | CD |
| 2025-06-27 | 2025-06-30 | $0.3462 | CD |
Asset Allocation
Top Holdings
top 50 of 130 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | Samsung Electronics Co Ltd | 13.07% | Equity (common) | KR |
| — | SK hynix Inc | 12.28% | Equity (common) | KR |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | 8.52% | Equity (common) | TW |
| — | MediaTek Inc | 5.46% | Equity (common) | TW |
| — | Latam Airlines Group SA | 3.77% | Equity (common) | CL |
| — | Delta Electronics Inc | 3.08% | Equity (common) | TW |
| — | Bank Polska Kasa Opieki SA | 2.66% | Equity (common) | PL |
| — | Vale SA | 2.65% | Equity (common) | BR |
| — | Banco de Chile | 2.59% | Equity (common) | CL |
| — | Hon Hai Precision Industry Co Ltd | 2.50% | Equity (common) | TW |
| — | Falabella SA | 2.17% | Equity (common) | CL |
| — | Malayan Banking Bhd | 1.67% | Equity (common) | MY |
| — | ASE Technology Holding Co Ltd | 1.51% | Equity (common) | TW |
| — | Banco de Credito e Inversiones SA | 1.44% | Equity (common) | CL |
| UMC | United Microelectronics Corp | 1.43% | Equity (common) | TW |
| — | LPP SA | 1.35% | Equity (common) | PL |
| — | SK Square Co Ltd | 1.25% | Equity (common) | KR |
| — | Fubon Financial Holding Co Ltd | 1.15% | Equity (common) | TW |
| — | CTBC Financial Holding Co Ltd | 0.96% | Equity (common) | TW |
| — | Plaza SA | 0.89% | Equity (common) | CL |
| — | Cencosud SA | 0.84% | Equity (common) | CL |
| — | Quanta Computer Inc | 0.83% | Equity (common) | TW |
| — | Public Bank Bhd | 0.80% | Equity (common) | MY |
| — | Cathay Financial Holding Co Ltd | 0.79% | Equity (common) | TW |
| — | Dino Polska SA | 0.75% | Equity (common) | PL |
| — | Parque Arauco SA | 0.70% | Equity (common) | CL |
| — | CD Projekt SA | 0.69% | Equity (common) | PL |
| — | Alior Bank SA | 0.68% | Equity (common) | PL |
| — | Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 0.66% | Equity (common) | BR |
| — | Empresas Copec SA | 0.63% | Equity (common) | CL |
| — | WEG SA | 0.63% | Equity (common) | BR |
| — | FirstRand Ltd | 0.61% | Equity (common) | ZA |
| — | Grupa Kety SA | 0.60% | Equity (common) | PL |
| — | Chunghwa Telecom Co Ltd | 0.60% | Equity (common) | TW |
| — | Benefit Systems SA | 0.60% | Equity (common) | PL |
| — | B3 SA - Brasil Bolsa Balcao | 0.59% | Equity (common) | BR |
| — | Asseco Poland SA | 0.52% | Equity (common) | PL |
| GFI | Gold Fields Ltd | 0.52% | Equity (common) | ZA |
| BBD | Banco Bradesco SA | 0.51% | Equity (common) | BR |
| — | Hyundai Motor Co | 0.50% | Equity (common) | KR |
| — | Standard Bank Group Ltd | 0.49% | Equity (common) | ZA |
| — | International Container Terminal Services Inc | 0.45% | Equity (common) | PH |
| — | Equatorial SA | 0.44% | Equity (common) | BR |
| — | Capitec Bank Holdings Ltd | 0.44% | Equity (common) | ZA |
| — | Kasikornbank PCL | 0.44% | Equity (common) | TH |
| — | Embraer SA | 0.44% | Equity (common) | BR |
| — | First American Government Obligations Fund | 0.43% | Short-term investment | US |
| — | XTB SA | 0.43% | Equity (common) | PL |
| — | KRUK SA | 0.42% | Equity (common) | PL |
| — | MTN Group Ltd | 0.42% | Equity (common) | ZA |
Geographic Breakdown
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.06% | 0.54% | 11.73% | -4.40% | 3.84% | 9.98% | 3.62% |
| Feb | -0.75% | -1.90% | -7.03% | 3.81% | 1.95% | 7.88% | 0.66% |
| Mar | -0.83% | 4.91% | 0.58% | 2.99% | 2.22% | -10.54% | -0.11% |
| Apr | 0.08% | -11.29% | 0.78% | -2.15% | 2.29% | 12.88% | 0.43% |
| May | 0.93% | 7.03% | 1.49% | 5.00% | 4.45% | 14.86% | 5.63% |
| Jun | -1.49% | -13.90% | 2.94% | 1.64% | 5.48% | -1.71% | -1.17% |
| Jul | -1.43% | 5.59% | 3.19% | -0.31% | -0.10% | -7.03% | -0.02% |
| Aug | 3.05% | -2.49% | -7.18% | 3.79% | 3.84% | 5.07% | 1.01% |
| Sep | -5.76% | -10.43% | -7.18% | 1.82% | 6.75% | 1.72% | -2.18% |
| Oct | -0.24% | 2.50% | 0.14% | -2.58% | 7.89% | -6.26%* | 0.24% |
| Nov | -1.51% | 11.51% | 10.75% | -4.28% | -2.22% | -- | 2.85% |
| Dec | 1.60% | -5.95% | 3.10% | -3.77% | 6.70% | -- | 0.34% |
| Total | -6.35% | -16.14% | 11.82% | 0.90% | 52.02% | 25.99% | 11.37% |
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: $68.66
SMA 50: $69.15
SMA 200: $64.60
Current: $65.61
EMA 12: $66.70
EMA 26: $68.08
MACD: -1.3814 | Signal: -0.5682
BEARISH
ADX (14): 20.91
WEAK TREND
+DI: 19.99
−DI: 38.07
Momentum Oscillators
RSI (14): 39.10
NEUTRAL
Stoch %K: 14.34
Stoch %D: 10.54
Williams %R: -78.82
Volume & Volatility
BB Upper: $74.02
BB Lower: $63.30
NEUTRAL
OBV: 18,093,501
Vol SMA 20: 309,519
Vol ROC: 5.70%
ATR: $1.46
True Range: $1.15
HV 20: 21.6%
HV 30: 26.4%
HV 60: 26.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
FRDM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL with Confidence Level: 6/10
FRDM presents a mixed technical picture with mildly bullish momentum indicators offset by weak trend strength and range-bound price action. The stock is currently navigating a trading range between $68.08-$73.46 with neutral momentum (RSI 53.87), elevated volatility (beta 1.79, HV60 30.5%), and extremely bullish options sentiment that may represent positioning risk rather than conviction. The primary driver is technical setup favoring a potential breakout, but the low ADX (9.67) indicates insufficient trend conviction to establish a strong directional bias.
Investment Thesis: FRDM exhibits early-stage bullish technical structure with MACD histogram expansion (0.67) and price holding above all major moving averages, but the absence of strong trend confirmation (ADX 9.67 in range regime) and generic news coverage suggest waiting for either a decisive breakout above $73.46 or clearer catalyst emergence before positioning.
Recent News Sentiment Impact: Neutral—news headlines are entirely sector/market-focused ETF commentary with no FRDM-specific catalysts identified. This represents a significant data quality concern that limits conviction in directional analysis.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): NEUTRAL-TO-BULLISH
- Price: $71.10 sits comfortably above SMA 20 ($70.77), SMA 50 ($68.59), and SMA 200 ($63.50)
- All moving averages in bullish alignment (20 > 50 > 200)
- However, price consolidation within narrow Bollinger Band width (7.61) suggests coiling rather than directional conviction
Medium-term (1-3 months): NEUTRAL
- ADX (9.67) in range regime indicates weak trend strength despite upside price bias
- EMA 12 ($70.74) marginally above EMA 26 ($70.24) with minimal separation—insufficient momentum divergence
- $68.59 (SMA 50) establishing emerging support, but no clear breakout pattern established
Long-term (3-12 months): BULLISH
- Price: $71.10 significantly above 200-day MA ($63.50) = +12.2% premium
- Extended above all major moving averages with 0.73 correlation to SPY suggesting market-driven uptrend
- However, 1.79 beta amplifies downside risk if market reverses
Support/Resistance Levels
| Level | Type | Significance | |-------|------|--------------| | $73.46 | Upper Bollinger Band / Resistance | Primary breakout target; historically shows squeeze release | | $71.10 | Current Price | Consolidation midpoint | | $70.77 | SMA 20 / Middle Bollinger Band | Immediate support; moving average confluence | | $68.59 | SMA 50 | Secondary support; medium-term trend anchor | | $68.08 | Lower Bollinger Band | Tertiary support; oversold threshold | | $63.50 | SMA 200 | Long-term support; major moving average floor |
Critical Observation: Price contained within $3.38 Bollinger Band width (4.6% of current price)—this is a squeeze pattern suggesting volatility compression before breakout/breakdown.
Momentum Signals
RSI (14): 53.87 - NEUTRAL
- Reading directly in middle of neutral zone (30-70 range)
- Not overbought (would need >70) nor oversold (would need <30)
- Interpretation: No momentum exhaustion; room to move in either direction
- Stochastic %K (43.40) and %D (43.59) confirm mid-range momentum with no buy/sell signal
MACD: 0.51 / Signal: -0.17 / Histogram: 0.67 - BULLISH DIVERGENCE
- MACD line (0.51) above signal line (-0.17) = bullish structure
- Histogram expansion (0.67) is the critical positive signal—indicates accelerating bullish momentum
- However, both MACD and signal remain near zero, suggesting early-stage momentum rather than strong conviction
- Williams %R (-44.66) neutral-to-slightly-bearish, contradicting MACD bullishness slightly
Momentum Conflict Alert: MACD histogram expansion (bullish) vs. RSI neutral positioning creates mixed signal—suggests momentum is emerging but has not yet reached overbought territory. This is typical of early-stage moves and provides setup for potential continuation.
Bollinger Bands: NEUTRAL / SQUEEZE PATTERN
- Price at $71.10 positioned near middle band ($70.77)
- Band width (7.61) is narrow—indicates volatility compression
- Expected breakout scenario: Once price breaks above $73.46, momentum could accelerate due to squeeze release
- Conversely, breakdown below $68.08 would trigger mean-reversion decline
Volume Analysis
Volume Indicators:
- Volume SMA 20: 292,777 shares average
- Volume Rate of Change: +4.82% (modest increase)
- On-Balance Volume: 18,874,995.81 (positive accumulation bias)
Institutional Interest Assessment:
- Volume increasing modestly (+4.82% ROC) suggests emerging institutional interest
- OBV positive trend indicates accumulation pattern compatible with bullish thesis
- However, absolute volume levels and comparison to historical extremes are not provided—data limitation
Signal: Mild institutional accumulation underway, but volume is not dramatic enough to suggest major institutional rotation into position. More consistent with gradual buying rather than aggressive accumulation.
News & Sentiment Analysis
Recent Headlines Summary
Critical Data Quality Issue: All 6 recent headlines are generic sector/market commentary with NO FRDM-specific news:
- South Korea ETFs pullback thesis
- India vs. China equity performance comparison
- G7 ETF rally synchronized with S&P 500
- Emerging Markets roundup
- SPY ETF vs. global equities performance
- China ETF weakness
Observations:
- FRDM appears to be an ETF product (given the news focus on ETF comparisons and global equity themes)
- No company-specific catalysts, earnings surprises, or management announcements
- No regulatory changes, product launches, or fund structure modifications identified
- News sentiment uniformly NEUTRAL across all 6 headlines
Sentiment Assessment
Aggregate News Sentiment: NEUTRAL
The complete absence of FRDM-specific news combined with generic sector commentary suggests:
- No immediate catalysts driving directional moves
- Price action is primarily technical in nature (support/resistance dynamics)
- Correlation to broader market/sector (0.73 r-squared) is primary driver, not fund-specific factors
Implication: Technical signals carry disproportionate weight in this analysis due to lack of news-driven catalysts.
Catalyst Identification
Identified Catalysts (by timeframe):
| Timeframe | Catalyst | Impact Potential | |-----------|----------|-----------------| | Immediate (1-7 days) | None identified | LOW | | Near-term (1-4 weeks) | Breakout above $73.46 BB resistance | MEDIUM | | Medium-term (1-3 months) | Market sentiment shift / sector rotation | MEDIUM-HIGH | | Long-term (3-12 months) | Broader equity market cycle | HIGH |
Data Limitation: Earnings information unavailable—cannot assess if ETF expense ratio changes, asset flows, or fund restructuring catalysts exist.
Market Narrative
Technical Narrative vs. News Disconnect:
- Technical Signal: Emerging bullish momentum (MACD histogram expansion, moving average alignment, volatility compression setup)
- News Signal: Neutral/generic; no thematic support for either direction
- Resolution: This disconnect suggests the technical move is driven by mechanical mean-reversion or volatility release rather than fundamental/narrative-driven conviction
Interpretation: FRDM may be consolidating within technical ranges with minimal emotional/sentiment overlay. The next directional move will likely be triggered by technical breakout (above $73.46) or market-wide risk-on/risk-off events rather than FRDM-specific news.
Risk & Volatility Assessment
Beta Interpretation
Beta: 1.79 vs. SPY - HIGH RISK
- Interpretation:
Generated
News
All FRDM news →
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FRDM Options Activity & IV Rank
FRDM IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 37.8%
7-DTE IV: —
Expected Move: $0.00
7-DTE Move: $0.00
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 42
Put Volume: 3
P/C Volume: 0.071
BULLISH
Call OI: 40
Put OI: 2
P/C OI: 0.05
Total OI: 42
ATM Options Pricing
ATM Call: $0.00
ATM Put: $0.00
Call %: 0.0%
Put %: 0.0%
Chain Summary
Chain Volume: 119
Chain OI: 172
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
HIGH γ vs HISTORY
Estimated net dealer gamma is at the 82nd percentile of this name's own daily history, near the high end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
82%
vs own history
GEX tilt
+1.00
OI-weighted, today
Vanna tilt
+0.47
δ-sensitivity to IV
Charm tilt
-0.75
δ-decay vs time
Vanna tilt +0.47: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.75: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 4 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 28.9% / 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
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Volatility Smile
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IV Rank (7 DTE)
IV Rank (30 DTE)65.5MediumOct 21
Straddle Price (30 DTE)$0.00Oct 21
Beta Analysis
Risk Metrics
Beta: 1.8410
Alpha: 12.30%
Correlation: 0.7304
R-Squared: 53.3%
Stock Volatility: 32.0%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
FRDM 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.
2 filers$1.40M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $976.86K | 69.79% | 2026-06-30 |
| 2 | Belvedere Trading LLC | $422.82K | 30.21% | 2026-06-30 |
2 filers$430.11K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $400.95K | 93.22% | 2026-06-30 |
| 2 | Belvedere Trading LLC | $29.16K | 6.78% | 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
378.98K
SI % of Float
0.73%
Days to Cover
1.15
Short Vol Ratio
65.4%
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 |
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