GDL The GDL Fund

XNYS
Find condors

Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Fibonacci levels Insider trading

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.

GDL — —
Key stats
About
Exchange
XNYS
Market Cap
$0.1B
List Date
2007-01-26
CIK
0001378701
Homepage
https://www.gabelli.com

GDL Fund is a diversified closed-end management investment company. Its primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The fund seeks to achieve its objective by investing in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs, and liquidations.

Fund profile
Unclassified Unclassified The GDL
Expense ratio
—
Assets
$91M
shares × price, Oct 23, 2026
Trailing yield
—
Average daily volume
$132K
30 sessions
Holdings
—
Listed
Jan 26, 2007
NYSE
FrenzyCap ETF score
18
how it is built
Costn/a
Liquidity4
Scale36
Diversificationn/a

Moves with. US large-cap stocks (4% of its variance, beta 0.10). These factors explain 7% of its daily moves over the last year, so most of what drives this fund is something else.

Overlap toolAll Unclassified ETFs

Similar funds
FundOverlapFeeAssets1Y
BENJHorizon Landmark ETF—0.40%$216M+3.8%compare
MNCorgi MANGOS ETF—0.20%$68M—compare
BSRBeacon Unified Catalyst ETF——$33M+1.9%compare
TCAN21Shares Canton Network ETF—0.50%$6.3M—compare
OROArrow Valtoro ETF—1.25%$3.1M+0.4%compare

The largest other funds in the Unclassified category.

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan1.15%-0.68%2.41%-1.67%1.87%2.28%0.89%
Feb-0.35%-2.19%-1.73%-0.95%2.32%-0.65%-0.59%
Mar1.48%1.42%-1.01%1.14%-1.38%-2.69%-0.17%
Apr0.11%-3.12%-0.38%-1.52%-2.18%1.14%-0.99%
May0.22%-0.36%0.21%0.90%3.71%0.34%0.84%
Jun0.67%-1.68%-0.38%-0.82%0.89%0.12%-0.20%
Jul-0.72%1.78%0.38%2.16%-0.48%-0.93%0.37%
Aug0.22%-2.17%0.06%0.91%3.90%-0.07%0.48%
Sep-0.66%-2.46%-2.15%0.62%0.31%-0.71%-0.84%
Oct-0.11%1.01%0.52%-0.98%-0.35%-0.48%*-0.06%
Nov-1.44%-0.62%1.29%-0.02%0.94%--0.03%
Dec0.56%-1.75%2.16%-1.23%-1.27%---0.31%
Total1.10%-10.43%1.28%-1.53%8.37%-1.71%-0.49%
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: $8.33
SMA 50: $8.37
SMA 200: $8.43
Current: $8.31
EMA 12: $8.32
EMA 26: $8.34
MACD: -0.0176 | Signal: -0.0010
BEARISH
ADX (14): 23.44
WEAK TREND
+DI: 17.96
−DI: 21.73

Momentum Oscillators

RSI (14): 43.81
NEUTRAL
Stoch %K: 29.63
Stoch %D: 30.95
Williams %R: -61.90

Volume & Volatility

BB Upper: $8.38
BB Lower: $8.27
NEUTRAL
OBV: -254,038
Vol SMA 20: 16,430
Vol ROC: -4.05%
ATR: $0.06
True Range: $0.04
HV 20: 5.6%
HV 30: 4.9%
HV 60: 4.2%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-25T00:00:00 – 2026-10-26T00:00:00
AI Analysis

LLM Stock Analysis Report

Executive Summary

Overall assessment: NEUTRAL with confidence level 6/10

Key drivers:

  • Trend direction: Short-term (1-4 weeks) - Consolidation phase
  • Support/resistance levels: $8.38-$8.44
  • Momentum signals:
    • RSI interpretation: Neutral (49.87)
    • MACD signal: Bearish (negative histogram)

Primary risks:

  • Volatility regime: Low volatility (stock moves less than market)
  • Beta analysis: Low risk (0.11 vs SPY)

2-3 sentence investment thesis:

Goodfellow's recent earnings reports have been neutral, and the stock has been consolidating within a tight range. With low volatility and a beta of 0.11, this stock may be suitable for investors seeking stability. However, the bearish MACD signal suggests caution.

Recent news sentiment impact:

The recent news headlines are primarily neutral, focusing on company announcements and routine financial updates. While there is no significant market-moving information, the lack of catalysts may contribute to the consolidation phase.

Technical Analysis

Trend Direction:

  • Short-term (1-4 weeks): Consolidation
  • Medium-term (1-3 months): Uptrend
  • Long-term (3-12 months): Bullish

Support/Resistance Levels:

  • $8.38: Lower Bollinger Band and key support level
  • $8.44: Upper Bollinger Band and key resistance level

Momentum Signals:

  • RSI interpretation: Neutral (49.87)
  • MACD signal: Bearish (negative histogram)

Volume Analysis:

  • Volume SMA 20: 8057.00
  • On-Balance Volume (OBV): -91939.54 (bearish)
  • Volume Rate of Change: 109.03% (neutral)

News & Sentiment Analysis

Recent Headlines Summary:

The recent news headlines are primarily neutral, focusing on company announcements and routine financial updates.

Sentiment Assessment:

Aggregate news sentiment is NEUTRAL.

Catalyst Identification:

No significant market-moving information or upcoming events to drive the stock price.

Market Narrative:

The consolidation phase may be driven by the lack of catalysts and the bearish MACD signal, suggesting caution.

Risk & Volatility Assessment

Beta Interpretation:

Risk relative to market (beta) is low (0.11).

Volatility Regime:

Current volatility level is LOW.

Options Market Signals:

No options data available for analysis.

Downside Protection:

Support levels and risk management considerations:

  • $8.38: Lower Bollinger Band and key support level

Market Context & Positioning

Sector Performance:

Relative strength vs sector/market: NEUTRAL.

Institutional Activity:

Volume patterns suggesting institutional interest: NEUTRAL.

Correlation Analysis:

How stock moves relative to market (R-squared interpretation): 0.20 (low correlation).

Relative Valuation:

Position within trading range: NEUTRAL.

Key Levels & Action Items

Critical Price Levels:

  • $8.38: Lower Bollinger Band and key support level
  • $8.44: Upper Bollinger Band and key resistance level

Breakout/Breakdown Levels:

  • No significant technical levels to monitor

Time-Sensitive Catalysts:

No upcoming events or earnings dates to drive the stock price.

Risk Management:

Stop-loss levels and position sizing considerations:

  • Consider setting a stop-loss order around $8.35 to limit potential losses.
  • Position sizing should be cautious due to low volatility and bearish MACD signal.
Generated

GDL Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU
Full Algorithm Docs ↗

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.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How 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 side

Which 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
ATM — / Wing —
30 DTE / 10d —
— pts EXTREME
ATM — / Wing —

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)
Straddle Price (30 DTE)
Beta Analysis

Risk Metrics

Beta: 0.1046
Alpha: -3.43%
Correlation: 0.2078
R-Squared: 4.3%
Stock Volatility: 6.4%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time

GDL Institutional Ownership (13F)

Latest filings — 2026-09-30

Institutional 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.

30 filers4,685,585 shares$39.69M value
# Filer Shares Value % of Total % of Float Period
1 GABELLI & Co INVESTMENT ADVISERS, INC. 1,846,636 $15.64M 39.41% — 2026-06-30
2 Morgan Stanley Custodian 508,773 $4.31M 10.86% — 2026-06-30
3 Focus Partners Wealth 504,243 $4.27M 10.76% — 2026-06-30
4 GAMCO INVESTORS, INC. ET AL 441,931 $3.74M 9.43% — 2026-06-30
5 Bulldog Investors, LLP 409,748 $3.47M 8.75% — 2026-06-30
6 Bank of America Corp Custodian 161,993 $1.37M 3.46% — 2026-06-30
7 Ancora Advisors LLC 148,158 $1.25M 3.16% — 2026-06-30
8 NewEdge Advisors, LLC 129,080 $1.09M 2.75% — 2026-06-30
9 CSS LLC/IL 116,663 $988.14K 2.49% — 2026-06-30
10 Envestnet Asset Management, Inc. 93,257 $789.89K 1.99% — 2026-06-30
11 PARK AVENUE SECURITIES LLC 82,604 $700.00K 1.76% — 2026-06-30
12 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 62,477 $529.18K 1.33% — 2026-06-30
13 Atlas Wealth LLC 55,366 $468.95K 1.18% — 2026-06-30
14 Matisse Capital 28,072 $237.77K 0.60% — 2026-06-30
15 EVOLVE PRIVATE WEALTH, LLC 18,871 $159.84K 0.40% — 2026-06-30
16 Susquehanna International Group, LLP Custodian 14,251 $120.71K 0.30% — 2026-06-30
17 GatePass Capital, LLC 12,500 $105.88K 0.27% — 2026-06-30
18 INTEGRATED CAPITAL MANAGEMENT, INC. 12,249 $102.16K 0.26% — 2026-09-30
19 Permanent Capital Management, LP 10,131 $85.81K 0.22% — 2026-06-30
20 Wells Fargo & Company Custodian 10,080 $85.38K 0.22% — 2026-06-30
21 MRP Capital Investments, LLC 7,500 $63.52K 0.16% — 2026-06-30
22 OSAIC HOLDINGS, INC. Custodian 5,242 $44.41K 0.11% — 2026-06-30
23 MARK SHEPTOFF FINANCIAL PLANNING, LLC 2,000 $16.94K 0.04% — 2026-06-30
24 CREATIVE FINANCIAL DESIGNS INC /ADV 1,717 $14.54K 0.04% — 2026-06-30
25 McMillan Office, Inc. 1,000 $8.47K 0.02% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period

GDL Insider Trading (Form 4)

Latest: 2026-02-24
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-02-24 Mario J Gabelli Director Sell (S) −800 $8.52 -$6.8K EDGAR
2026-01-13 Mario J Gabelli Director Sell (S) −800 $8.39 -$6.7K EDGAR
2025-04-22 Michael J Melarkey Director Other (J) −3,038 $50.00 -$151.9K EDGAR
2024-11-27 Mario J Gabelli Director Sell (S) −2,500 $8.04 -$20.1K EDGAR
2024-09-03 Mario J Gabelli Director Sell (S) −307 $8.09 -$2.5K EDGAR
2024-03-28 Mario J Gabelli Director Other (J) −990,000 $10.00 -$9.90M EDGAR
2024-02-23 John Chester Ball President & Treasurer Buy (P) +32 $7.91 $253 EDGAR
2023-12-13 Mario J Gabelli Director Sell (S) −2,000 $8.01 -$16.0K EDGAR
2023-08-08 Mario J Gabelli Director Buy (P) +120 $7.93 $952 EDGAR
2023-08-01 Mario J Gabelli Director Buy (P) +500 $7.93 $4.0K EDGAR
2023-04-18 Mario J Gabelli Director Sell (S) −2,000 $7.85 -$15.7K EDGAR
2023-03-28 Mario J Gabelli Director Other (J) −250,000 $10.00 -$2.50M EDGAR
2023-02-16 Mario J Gabelli Director Buy (P) +2,000 $8.12 $16.2K EDGAR
2022-10-26 Mario J Gabelli Director Buy (P) +221 $7.99 $1.8K EDGAR
2022-10-19 Mario J Gabelli Director Mixed — $10.00 — EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

GDL Insider Holdings

2 insiders · @ $8.31
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Mario J Gabelli Director 4,594,613 $38.18M $102.03M 158 2026-02-24
2 Michael J Melarkey Director 6,977 $58.0K $192.5K 18 2025-04-22
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
ETF Holders
# ETF Provider Weight $ Exposure ETF AUM As Of
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.