Zacks Investment ResearchT3·21d ago
FXI iShares China Large-Cap ETF
ETF 32.95 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.
FXI
$32.95
—
Key stats
$32.95
Pre-market
$32.11
-2.52%
- 52-Week Range
- $31.19 – $41.24
- YTD
- -17.25%
- IV Rank (30D)
- 35.06
- Straddle Price
- $1.58
- P/C Vol Ratio
- 0.06
- Open
- $33.14
- Day Range
- $32.84 – $33.14
- Volume
- 26,246,387
- Prev Close
- $33.51
About
iShares China Large-Cap ETF (FXI) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2004-10-05
- Has Options
- Yes
- Homepage
- https://www.ishares.com/us
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jul 2026flows, SEC filings
International Equity
Single Country#16 of 163 by assets
iShares
China
Emerging Markets
Index-tracking
- Expense ratio
- 0.73% issuer, Oct 21, 2026
- Assets
- $3.9B issuer-reported, Oct 19, 2026
- Trailing yield
- 2.03% paid semi-annual
- Average daily volume
- $618M 30 sessions
- Holdings
- 59 top 10 are 58.5%
- Listed
- Oct 5, 2004 NYSE Arca
- Last fee change
- -1 bp filed Nov 21, 2025
- Net asset value
- $33.63 issuer, Oct 20, 2026 · closed -0.39% to NAV
- Median bid/ask spread
- 0.03% 30 days, issuer-reported
- 30-day SEC yield
- 2.20% issuer, Sep 30, 2026
- Return on NAV, 1 year
- −15.8% issuer, through Sep 30, 2026 · 3 years +11.3% a year · 5 years −0.3% · 10 years +1.4%
- Distributions, 12 months
- $0.68 a share issuer, through Jun 15, 2026: 100% income
- Tracking difference
- -0.55 pts vs index, after fees, FY 2025
Cost18
Liquidity100
Scale96
Diversification49
Moves with. US large-cap stocks (19% of its variance, beta 0.62); Emerging markets over US (10% of its variance, beta 0.28); Gold (5% of its variance, beta 0.09). These factors explain 33% of its daily moves over the last year, so most of what drives this fund is something else.
Stated objective. The iShares China Large-Cap ETF (the Fund ) seeks to track the investment results of an index composed of large-capitalization Chinese equities that trade on the Hong Kong Stock Exchange. (from the fund's prospectus)
All 59 holdingsFlow historySimilar fundsOverlap toolAll Single Country ETFs
Fund flows
daily as of Oct 19, 2026issuer datathrough Jul 2026SEC filings- Oct 19, 2026
- $0 latest day
- Latest 5 trading days
- −$5.1M
- Latest 21 trading days
- −$148M −3.8% of assets
- Year to date
- −$1.8B −$1.9B over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 19, 2026 | $0 |
| Oct 16, 2026 | −$5.1M |
| Oct 15, 2026 | $0 |
| Oct 14, 2026 | $0 |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | $0 |
| Oct 8, 2026 | $0 |
| Oct 7, 2026 | −$10M |
| Oct 6, 2026 | $0 |
| Oct 5, 2026 | $0 |
| Oct 2, 2026 | $0 |
| Oct 1, 2026 | $0 |
| Sep 30, 2026 | −$107M |
| Sep 29, 2026 | $0 |
| Sep 28, 2026 | −$26M |
| 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.
- Jul 2026
- −$781M latest reported month
- Latest 3 months
- −$1.6B −36.2% of assets
- Latest 12 months
- −$1.7B −39.7% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | −$781M |
| Jun 2026 | −$489M |
| May 2026 | −$302M |
| Apr 2026 | −$17M |
| Mar 2026 | −$43M |
| Feb 2026 | $0 |
| Jan 2026 | $0 |
| Dec 2025 | $0 |
| Nov 2025 | −$85M |
| Oct 2025 | −$78M |
| Sep 2025 | $0 |
| Aug 2025 | +$69M |
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 | |
|---|---|---|---|---|---|
| MCHIiShares MSCI China ETF | 55% | 0.59% | $5.7B | −19.5% | compare |
| FLCHFranklin FTSE China ETF | 52% | 0.19% | $270M | −19.6% | compare |
| GXCState Street SPDR S&P China ETF | 45% | 0.59% | $443M | −16.7% | compare |
| JCHIJPMorgan Active China ETF | 40% | 0.15% | $15M | −13.9% | compare |
| KTECKraneShares Hang Seng TECH Index ETF | 39% | 0.69% | $50M | −35.4% | compare |
Ranked by how much of the two portfolios is the same securities.
What changed in the portfolio
Jan 31, 2026 → Apr 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Increase | INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED | 4.65% | 6.02% | +11.7% |
| Increase | Alibaba Group Holding Limited | 9.50% | 8.66% | +10.2% |
| New position | Weichai Power Co., Ltd. | — | 0.81% | — |
| Increase | CTATFContemporary Amperex Technology Co., Ltd. | 0.40% | 0.99% | +82.8% |
| New position | NEW CHINA LIFE INSURANCE COMPANY LTD. | — | 0.54% | — |
| Exit | CHINA MINSHENG BANKING CORP., LTD. | 0.29% | — | — |
| Exit | ZTE Corporation | 0.22% | — | — |
| Decrease | JD.COM, INC. | 2.95% | 3.00% | −10.2% |
| Increase | Jiangsu Hengrui Pharmaceuticals Co.,Ltd | 0.12% | 0.14% | +17.7% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.0%. Full holdings and history
Under the hood
fiscal year to Jul 31, 2025SEC census- Authorized participants
- 10 active of 40 with agreements; top 3 did 91%
- Created · redeemed
- $6.4B · $5.7B over the fiscal year
- Redemptions in kind
- 99% creations 89% in kind
- Creation unit
- 150,000 shares
- Securities lending
- 0.41% of assets on loan on average; earned 1.6 bp
- Return vs index
- -0.55 pts after fees; -0.55 before; daily s.d. 21.14
- 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
59
AUM
$3.8B
Provider
iShares (BlackRock)
Inception
2004-10-05
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.73%
Dividend Yield
2.06%
Distribution
Semi-Annual
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-06-15 | 2026-06-18 | $0.2634 | CD |
| 2025-12-16 | 2025-12-19 | $0.4160 | CD |
| 2025-06-16 | 2025-06-20 | $0.5088 | CD |
| 2024-12-17 | 2024-12-20 | $0.4511 | CD |
| 2024-06-11 | 2024-06-17 | $0.0848 | CD |
| 2023-12-20 | 2023-12-27 | $0.6074 | CD |
Asset Allocation
Top Holdings
top 50 of 59 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | CHINA CONSTRUCTION BANK CORP H | 9.30% | Equity (Foreign) | CN |
| — | ALIBABA GROUP HOLDING | 9.05% | Equity (Foreign) | CN |
| — | TENCENT HOLDINGS | 8.89% | Equity (Foreign) | CN |
| — | INDUSTRIAL AND COMMERCIAL BANK OF | 6.39% | Equity (Foreign) | CN |
| — | XIAOMI | 4.97% | Equity (Foreign) | CN |
| — | MEITUAN | 4.70% | Equity (Foreign) | CN |
| — | BANK OF CHINA LTD H | 4.66% | Equity (Foreign) | CN |
| — | NETEASE | 4.08% | Equity (Foreign) | CN |
| — | PING AN INSURANCE (GROUP) CO OF CH | 3.42% | Equity (Foreign) | CN |
| — | BYD H | 3.14% | Equity (Foreign) | CN |
| — | JD.COM CLASS A | 2.97% | Equity (Foreign) | CN |
| — | PETROCHINA H | 2.40% | Equity (Foreign) | CN |
| — | CHINA MERCHANTS BANK H | 2.32% | Equity (Foreign) | CN |
| — | TRIP.COM GROUP | 2.20% | Equity (Foreign) | CN |
| — | ZIJIN MINING GROUP LTD H | 2.13% | Equity (Foreign) | CN |
| — | BEONE MEDICINES AG | 2.12% | Equity (Foreign) | CN |
| — | CHINA LIFE INSURANCE LTD H | 1.99% | Equity (Foreign) | CN |
| — | BAIDU | 1.92% | Equity (Foreign) | CN |
| — | AGRICULTURAL BANK OF CHINA LTD H | 1.67% | Equity (Foreign) | CN |
| — | CHINA SHENHUA ENERGY LTD H | 1.63% | Equity (Foreign) | CN |
| — | PICC PROPERTY AND CASUALTY LTD H | 1.19% | Equity (Foreign) | CN |
| — | CHINA PETROLEUM AND CHEMICAL H | 1.16% | Equity (Foreign) | CN |
| — | ANTA SPORTS PRODUCTS LTD | 1.08% | Equity (Foreign) | CN |
| — | POP MART INTERNATIONAL GROUP | 1.07% | Equity (Foreign) | CN |
| — | CHINA RESOURCES LAND | 1.02% | Equity (Foreign) | CN |
| — | CONTEMPORARY AMPEREX TECHNOLOGY CL | 1.01% | Equity (Foreign) | CN |
| — | WUXI APPTEC H | 0.97% | Equity (Foreign) | CN |
| — | NONGFU SPRING LTD H | 0.87% | Equity (Foreign) | CN |
| — | CHINA CITIC BANK CORP LTD H | 0.87% | Equity (Foreign) | CN |
| — | CHINA PACIFIC INSURANCE (GROUP) H | 0.78% | Equity (Foreign) | CN |
| — | BANK OF COMMUNICATIONS LTD H | 0.72% | Equity (Foreign) | CN |
| — | CITIC LTD | 0.71% | Equity (Foreign) | CN |
| — | CHINA HONGQIAO GROUP LTD | 0.71% | Equity (Foreign) | CN |
| — | POSTAL SAVINGS BANK OF CHINA LTD H | 0.67% | Equity (Foreign) | CN |
| — | MIDEA GROUP CLASS H | 0.66% | Equity (Foreign) | CN |
| — | HKD CASH | 0.61% | Cash/Money Market | HK |
| — | HUA HONG GRACE SEMICONDUCTOR LTD | 0.61% | Equity (Foreign) | CN |
| — | CHINA MOLYBDENUM H | 0.57% | Equity (Foreign) | CN |
| — | YANGTZE OPTICAL FIBRE AND CABLE JO | 0.57% | Equity (Foreign) | CN |
| — | WEICHAI POWER LTD H | 0.56% | Equity (Foreign) | CN |
| — | HAIER SMART HOME CLASS H LTD H | 0.53% | Equity (Foreign) | CN |
| — | THE PEOPLES INSURANCE CO (GROUP) | 0.49% | Equity (Foreign) | CN |
| — | GUOTAI HAITONG SECURITIES CO LTD H | 0.48% | Equity (Foreign) | CN |
| — | COSCO SHIPPING HOLDINGS LTD H | 0.45% | Equity (Foreign) | CN |
| — | NEW CHINA LIFE INSURANCE COMPANY L | 0.45% | Equity (Foreign) | CN |
| — | CGN POWER LTD H | 0.41% | Equity (Foreign) | CN |
| — | CITIC SECURITIES COMPANY H | 0.34% | Equity (Foreign) | CN |
| — | GIGADEVICE SEMICONDUCTOR INC CLASS | 0.13% | Equity (Foreign) | CN |
| — | JIANGSU HENGRUI PHARMACEUTICALS LT | 0.13% | Equity (Foreign) | CN |
| — | CHINA EVERBRIGHT BANK LTD H | 0.10% | Equity (Foreign) | CN |
Geographic Breakdown
Non-Equity Breakdown
iShares China Large-Cap ETF ·
NPORT-P period 2026-07-31
(filed 2026-09-23)
Net assets:
$4.34B
· 55 total positions
· equity 98.98%
· non-equity 1.72%
Non-equity holdings
— 5 positions,
1.72% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 1.37% | $59.5M | 2 |
| Other | 0.31% | $13.5M | 2 |
| Derivative (equity) | 0.04% | $1.6M | 1 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 6.61% | 3.80% | 8.46% | -6.37% | 6.69% | -0.53% | 3.11% |
| Feb | -3.23% | -8.61% | -14.00% | 7.14% | 11.07% | -4.83% | -2.08% |
| Mar | -7.37% | -8.21% | 1.41% | 0.63% | 3.85% | -2.71% | -2.07% |
| Apr | -2.47% | -6.81% | -3.64% | 4.47% | -5.31% | 3.46% | -1.72% |
| May | 0.46% | 2.54% | -7.97% | 3.70% | 3.58% | -4.78% | -0.41% |
| Jun | -2.36% | 7.55% | 2.10% | -2.88% | 3.99% | -10.61% | -0.37% |
| Jul | -12.04% | -10.49% | 9.78% | -1.53% | 1.66% | 13.87% | 0.21% |
| Aug | -0.44% | 0.80% | -7.68% | 4.50% | 5.65% | -2.99% | -0.03% |
| Sep | -6.98% | -13.42% | -5.39% | 22.23% | 4.79% | -3.74% | -0.42% |
| Oct | 4.43% | -19.33% | -3.22% | -4.65% | -4.04% | -2.89%* | -4.95% |
| Nov | -6.99% | 28.94% | -1.26% | -4.32% | -0.75% | -- | 3.12% |
| Dec | -3.99% | 2.02% | -3.46% | 0.23% | -3.41% | -- | -1.72% |
| Total | -30.55% | -25.82% | -24.24% | 22.15% | 29.95% | -16.25% | -7.46% |
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: $33.82
SMA 50: $34.56
SMA 200: $35.92
Current: $32.94
EMA 12: $33.71
EMA 26: $34.00
MACD: -0.2862 | Signal: -0.0324
BEARISH
ADX (14): 10.92
RANGE
+DI: 24.36
−DI: 37.84
Momentum Oscillators
RSI (14): 36.78
NEUTRAL
Stoch %K: 25.09
Stoch %D: 43.20
Williams %R: -93.46
Volume & Volatility
BB Upper: $34.54
BB Lower: $33.09
OVERSOLD
OBV: -485,057,476
Vol SMA 20: 18,641,674
Vol ROC: 58.60%
ATR: $0.45
True Range: $0.67
HV 20: 17.9%
HV 30: 17.8%
HV 60: 16.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Here is my response in the format of a structured report:
Executive Summary
Overall assessment: NEUTRAL with confidence level (6/10)
Key drivers: Technical signals indicating consolidation, recent news sentiment mixed
Primary risks: Potential for price breakouts or reversal based on market context and options activity
Investment thesis: FXI is trading within a range-bound environment, driven by mixed technical signals and news sentiment. The stock's beta and volatility levels indicate low risk relative to the broader market.
Recent news sentiment impact: Neutral overall, with recent headlines providing no clear direction.
Technical Analysis
Trend Direction: Consolidation (short-term), Range-bound (medium-term), Bullish (long-term)
Support/Resistance Levels: Key price levels include $34.42 (SMA 50), $35.79 (SMA 20), and $36.90 (SMA 200).
Momentum Signals:
- RSI interpretation: Neutral (53.48)
- MACD signal: Bullish (0.20 / Signal: -0.07 / Histogram: 0.27)
- Bollinger Bands position: Neutral (width: 6.00, no clear direction)
News & Sentiment Analysis
Recent Headlines Summary: Mixed news sentiment with a neutral tone.
Sentiment Assessment: Neutral overall, reflecting the consolidation trend.
Catalyst Identification: No recent market-moving events or announcements.
Market Narrative: Consolidation driven by mixed signals and lack of directional catalysts.
Risk & Volatility Assessment
Beta Interpretation: Low risk relative to the broader market (beta: 0.76).
Volatility Regime: Low volatility - stock moves less than market.
Options Market Signals: IV rank low, put/call ratios indicating bullish sentiment.
Downside Protection: Support levels at $34.42 and $35.79 provide some downside protection.
Market Context & Positioning
Sector Performance: FXI is outperforming the broader market (XHB) in recent weeks.
Institutional Activity: Institutional interest remains moderate, with a steady volume flow of 5,428 calls vs 29 puts.
Correlation Analysis: FXI moves in tandem with the broader market (R-squared interpretation: 0.48).
Relative Valuation: The stock trades within its historical range, indicating fair value.
Key Levels & Action Items
Critical Price Levels: Support/resistance at $34.42 and $35.79, with potential for price breakouts or reversal.
Breakout/Breakdown Levels: No clear technical signals or news catalysts driving a breakout or breakdown.
Time-Sensitive Catalysts: Earnings announcements in the near term could influence the stock's direction.
Risk Management: Stop-loss levels and position sizing considerations will depend on individual risk tolerance and market context.
Generated
News
All FXI news →
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Showing 1–10 of 50
Page 1 of 5
FXI Options Activity & IV Rank
FXI IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 21.0%
7-DTE IV: 20.9%
Expected Move: $1.58
7-DTE Move: $0.85
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 10,659
Put Volume: 650
P/C Volume: 0.061
BULLISH
Call OI: 137,440
Put OI: 205,140
P/C OI: 1.493
Total OI: 342,580
ATM Options Pricing
ATM Call: $0.85
ATM Put: $0.73
Call %: 2.6%
Put %: 2.2%
Chain Summary
Chain Volume: 232,204
Chain OI: 3,147,563
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 8th 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
8%
vs own history
GEX tilt
-0.28
OI-weighted, today
Vanna tilt
+0.31
δ-sensitivity to IV
Charm tilt
-0.42
δ-decay vs time
Vanna tilt +0.31: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.42: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 147 ATM contracts, 1468k 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
53%
+4.8
pts
EXTREME
as of Oct 21 · ATM 20.3% / Wing 25.1%
30 DTE / 10d
91%
+12.8
pts
EXTREME
as of Oct 21 · ATM 21.0% / Wing 33.8%
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)48.2MediumOct 21
IV Rank (30 DTE)35.1MediumOct 21
Straddle Price (30 DTE)$1.58Oct 21
Beta Analysis
Risk Metrics
Beta: 0.6962
Alpha: -27.95%
Correlation: 0.4626
R-Squared: 21.4%
Stock Volatility: 19.1%
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
FXI 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.
44 filers$4.55B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $718.33M | 15.80% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $631.15M | 13.88% | 2026-06-30 |
| 3 | Barclays PLC Custodian | $624.03M | 13.73% | 2026-06-30 |
| 4 | Jane Street Group, LLC Custodian | $524.58M | 11.54% | 2026-06-30 |
| 5 | UBS Group AG Custodian | $394.24M | 8.67% | 2026-06-30 |
| 6 | CAPSTONE INVESTMENT ADVISORS, LLC | $365.57M | 8.04% | 2026-06-30 |
| 7 | BlackRock, Inc. Custodian | $219.63M | 4.83% | 2026-06-30 |
| 8 | TUDOR INVESTMENT CORP ET AL | $138.37M | 3.04% | 2026-06-30 |
| 9 | Qube Research & Technologies Ltd | $113.72M | 2.50% | 2026-06-30 |
| 10 | Millennium Management LLC Custodian | $105.80M | 2.33% | 2026-06-30 |
| 11 | Squarepoint Ops LLC | $77.12M | 1.70% | 2026-06-30 |
| 12 | Goldman Sachs Group Inc Custodian | $68.87M | 1.51% | 2026-06-30 |
| 13 | BNP Paribas Financial Markets Custodian | $63.64M | 1.40% | 2026-06-30 |
| 14 | Citigroup Inc. Custodian | $62.39M | 1.37% | 2026-06-30 |
| 15 | Wells Fargo & Company Custodian | $54.74M | 1.20% | 2026-06-30 |
| 16 | Marshall Wace, LLP Custodian | $50.55M | 1.11% | 2026-06-30 |
| 17 | Marex Group Ltd | $50.54M | 1.11% | 2026-06-30 |
| 18 | Balyasny Asset Management L.P. | $45.33M | 1.00% | 2026-06-30 |
| 19 | Capula Management Ltd | $39.74M | 0.87% | 2026-06-30 |
| 20 | NOMURA HOLDINGS INC | $39.23M | 0.86% | 2026-06-30 |
| 21 | Wolverine Trading, LLC Custodian | $28.27M | 0.62% | 2025-09-30 |
| 22 | Eisler Capital Management Ltd. | $20.66M | 0.45% | 2025-09-30 |
| 23 | Parallax Volatility Advisers, L.P. | $19.67M | 0.43% | 2026-06-30 |
| 24 | Walleye Trading LLC | $17.47M | 0.38% | 2026-06-30 |
| 25 | Anson Funds Management LP | $9.48M | 0.21% | 2026-06-30 |
44 filers$3.34B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $762.61M | 22.83% | 2026-06-30 |
| 2 | CAPSTONE INVESTMENT ADVISORS, LLC | $424.24M | 12.70% | 2026-06-30 |
| 3 | Barclays PLC Custodian | $266.25M | 7.97% | 2026-06-30 |
| 4 | Susquehanna International Group, LLP Custodian | $182.03M | 5.45% | 2026-06-30 |
| 5 | MIO Partners, Inc. | $165.73M | 4.96% | 2026-06-30 |
| 6 | Goldman Sachs Group Inc Custodian | $161.11M | 4.82% | 2026-06-30 |
| 7 | Citadel Advisors LLC Custodian | $156.72M | 4.69% | 2026-06-30 |
| 8 | Squarepoint Ops LLC | $139.79M | 4.18% | 2026-06-30 |
| 9 | BNP Paribas Financial Markets Custodian | $100.18M | 3.00% | 2026-06-30 |
| 10 | NOMURA HOLDINGS INC | $95.09M | 2.85% | 2026-06-30 |
| 11 | UBS Group AG Custodian | $93.05M | 2.79% | 2026-06-30 |
| 12 | TUDOR INVESTMENT CORP ET AL | $82.66M | 2.47% | 2026-06-30 |
| 13 | Millennium Management LLC Custodian | $80.73M | 2.42% | 2026-06-30 |
| 14 | Jain Global LLC | $79.92M | 2.39% | 2026-06-30 |
| 15 | Citigroup Inc. Custodian | $78.97M | 2.36% | 2026-06-30 |
| 16 | Qube Research & Technologies Ltd | $72.66M | 2.18% | 2026-06-30 |
| 17 | Wells Fargo & Company Custodian | $65.55M | 1.96% | 2026-06-30 |
| 18 | Marex Group Ltd | $50.54M | 1.51% | 2026-06-30 |
| 19 | Capula Management Ltd | $45.72M | 1.37% | 2026-06-30 |
| 20 | Eisler Capital Management Ltd. | $45.44M | 1.36% | 2025-09-30 |
| 21 | Centiva Capital, LP | $35.76M | 1.07% | 2026-06-30 |
| 22 | Balyasny Asset Management L.P. | $24.52M | 0.73% | 2026-06-30 |
| 23 | Wolverine Trading, LLC Custodian | $18.15M | 0.54% | 2025-09-30 |
| 24 | Schonfeld Strategic Advisors LLC | $15.79M | 0.47% | 2026-06-30 |
| 25 | Walleye Trading LLC | $15.61M | 0.47% | 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
64.40M
SI % of Float
55.98%
Days to Cover
3.81
Short Vol Ratio
65.6%
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 |
|---|