HIX Western Asset High Income Fund II, Inc.

XNYS
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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.

HIX — —
Key stats
About
Exchange
XNYS
Market Cap
$0.3B
List Date
1998-05-22
CIK
0001058239
Homepage
https://www.franklintempleton.com

Western Asset High Income Fund II Inc is a diversified closed-end management investment company. Its primary investment objective is to maximize current income by investing at least 80% of its net assets, plus any borrowings for investment purposes, in high-yield debt securities. As a secondary objective, the Fund seeks capital appreciation to the extent consistent with its objective of seeking to maximize current income.

Fund profile
Options Income Covered Call Franklin Templeton Actively managed
Sells options for income. Distributions can exceed what the strategy earns, in which case part of the payout is the fund's own capital. Compare the distribution rate with the price change in the ETF lab.
Expense ratio
—
Assets
$313M
shares × price, Oct 21, 2026
Trailing yield
—
Average daily volume
$1.5M
30 sessions
Holdings
—
Listed
May 22, 1998
NYSE
FrenzyCap ETF score
46
how it is built
Costn/a
Liquidity39
Scale55
Diversificationn/a

Moves with. US large-cap stocks (9% of its variance, beta 0.26); Long Treasuries (6% of its variance, beta 0.34); Value over growth (4% of its variance, beta -0.15). These factors explain 24% of its daily moves over the last year, so most of what drives this fund is something else.

Overlap toolAll Covered Call ETFs

Similar funds
FundOverlapFeeAssets1Y
JEPIJPMorgan Equity Premium Income ETF—0.35%$46.0B+0.3%compare
JEPQJ.P. Morgan Nasdaq Equity Premium Income ETF—0.35%$44.3B+3.3%compare
QQQINEOS Nasdaq 100 High Income ETF—0.68%$13.1B−1.9%compare
SPYINEOS S&P 500 High Income ETF—0.68%$10.4B+1.4%compare
QYLDGlobal X Funds Global X NASDAQ-100 Covered Call ETF—0.60%$8.4B+6.5%compare

The largest other funds in the Covered Call 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
Jan0.59%-5.23%9.33%-8.22%0.70%1.44%-0.23%
Feb-1.45%-5.77%-4.11%-2.40%2.56%-1.18%-2.06%
Mar0.44%-5.79%-9.67%-1.54%-5.00%-4.56%-4.35%
Apr2.01%-12.38%-2.24%-2.91%-1.69%2.29%-2.49%
May1.68%0.19%-5.86%0.23%1.70%0.25%-0.30%
Jun-2.18%-8.02%5.63%-2.03%2.63%-0.25%-0.70%
Jul2.22%6.99%0.92%-0.23%-2.30%-2.51%0.85%
Aug0.00%-1.09%-2.42%0.92%1.65%1.29%0.06%
Sep-4.79%-19.26%-8.79%2.73%0.69%-9.49%-6.49%
Oct0.69%1.33%-5.64%-2.65%-2.98%-2.23%*-1.91%
Nov-4.11%11.75%7.42%1.25%0.00%--3.26%
Dec2.43%-8.33%4.42%-5.61%-0.95%---1.61%
Total-2.76%-39.75%-12.48%-19.08%-3.26%-14.48%-15.30%
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: $3.50
SMA 50: $3.71
SMA 200: $3.95
Current: $3.45
EMA 12: $3.49
EMA 26: $3.56
MACD: -0.0666 | Signal: 0.0100
BEARISH
ADX (14): 51.65
STRONG TREND
+DI: 10.92
−DI: 33.58

Momentum Oscillators

RSI (14): 33.54
NEUTRAL
Stoch %K: 34.48
Stoch %D: 39.60
Williams %R: -70.57

Volume & Volatility

BB Upper: $3.57
BB Lower: $3.43
NEUTRAL
OBV: -1,768,848
Vol SMA 20: 401,125
Vol ROC: 6.60%
ATR: $0.05
True Range: $0.04
HV 20: 14.2%
HV 30: 17.6%
HV 60: 14.5%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

Here is a comprehensive stock analysis report for HIX:

Executive Summary

Overall Assessment: NEUTRAL (Confidence Level: 6)

Key Drivers:

  • Strong technical indicators, such as MACD and RSI, suggesting a potential range-bound market.
  • Volatility metrics indicate low risk, with a beta of 0.47.

Primary Risks:

  • Low trading volume may lead to larger price movements than expected.
  • No recent earnings data available to inform investment thesis.

Recent News Sentiment Impact: NEUTRAL

Technical Analysis

Trend Direction:

  • Short-term (1-4 weeks): NEUTRAL, trading within a range.
  • Medium-term (1-3 months): BEARISH, potential downtrend developing.
  • Long-term (3-12 months): NEUTRAL, neutral trend.

Support/Resistance Levels:

  • SMA 20: $3.93
  • SMA 50: $3.94
  • Upper Bollinger Band: $4.00

Momentum Signals:

  • RSI interpretation: Neutral, 54.88 (not overbought or oversold).
  • MACD signal: Bearish crossover.
  • Bollinger Bands position: Squeeze.

Volume Analysis:

  • Volume SMA 20: 332252.10
  • On-Balance Volume (OBV): 3993946.04
  • Volume Rate of Change: 21.42%

News & Sentiment Analysis

Recent Headlines Summary:

  • No recent news headlines suggest a clear catalyst or driver.

Sentiment Assessment: NEUTRAL

Catalyst Identification: No upcoming events, earnings, or product launches to drive the stock price.

Market Narrative: The market narrative is neutral, with no clear directional bias.

Risk & Volatility Assessment

Risk Interpretation:

  • Low risk: beta of 0.47 and low volatility suggest a stable market.

Volatility Regime:

  • Current vs historical volatility levels: relatively low.

Options Market Signals:

  • IV premium vs HV30: N/A (no implied richer than realized).

Downside Protection: Support levels: SMA 20, $3.93; SMA 50, $3.94; Lower Bollinger Band, $3.85.

Market Context & Positioning

Sector Performance:

  • Relative strength vs sector/market: NEUTRAL

Institutional Activity:

  • Volume patterns suggesting institutional interest: Moderate.

Correlation Analysis: R-squared interpretation: Low correlation with the market.

Relative Valuation:

  • Position within trading range: NEUTRAL

Key Levels & Action Items

Critical Price Levels:

  • SMA 20, $3.93; SMA 50, $3.94; Upper Bollinger Band, $4.00.

Breakout/Breakdown Levels: No specific levels identified.

Time-Sensitive Catalysts: No upcoming events or catalysts to drive the stock price.

Risk Management: Stop-loss levels: Below SMA 20, $3.93; Above SMA 50, $3.94. Position sizing considerations: conservative approach due to low trading volume and no clear directional bias.

Please note that this analysis is based on the provided data and should not be considered a buy or sell recommendation.

Generated
News
All HIX news →

HIX 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: 0.5126
Alpha: -27.57%
Correlation: 0.4479
R-Squared: 20.1%
Stock Volatility: 14.6%
Market Volatility: 12.8%

Analysis Details

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

HIX 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.

77 filers16,287,184 shares$64.30M value
# Filer Shares Value % of Total % of Float Period
1 UBS Group AG Custodian 3,596,719 $14.24M 22.15% — 2026-06-30
2 Penserra Capital Management LLC 2,552,829 $10.11M 15.72% — 2026-06-30
3 Morgan Stanley Custodian 1,503,139 $5.95M 9.26% — 2026-06-30
4 Wells Fargo & Company Custodian 1,372,305 $5.43M 8.45% — 2026-06-30
5 Invesco Ltd. Custodian 942,197 $3.73M 5.80% — 2026-06-30
6 Rockefeller Capital Management L.P. Custodian 773,360 $3.06M 4.76% — 2026-06-30
7 GUGGENHEIM CAPITAL LLC 697,433 $2.76M 4.30% — 2026-06-30
8 GraniteShares Advisors LLC 685,465 $2.71M 4.22% — 2026-06-30
9 OSAIC HOLDINGS, INC. Custodian 655,211 $2.59M 4.04% — 2026-06-30
10 Ameriprise Financial, Inc. Custodian 574,694 $2.28M 3.54% — 2026-06-30
11 NWF Advisory Services Inc. 420,600 $1.67M 2.59% — 2026-06-30
12 Shaker Financial Services, LLC 352,768 $1.25M 1.94% — 2026-09-30
13 Raymond James Financial, Inc. Custodian 190,074 $752.69K 1.17% — 2026-06-30
14 OPPENHEIMER & CO INC 173,668 $687.73K 1.07% — 2026-06-30
15 ROBINSON CAPITAL MANAGEMENT, LLC 147,805 $585.31K 0.91% — 2026-06-30
16 Envestnet Asset Management, Inc. 129,051 $511.04K 0.79% — 2026-06-30
17 MELFA WEALTH MANAGEMENT, INC. 126,446 $500.73K 0.78% — 2026-06-30
18 LPL Financial LLC Custodian 103,737 $410.80K 0.64% — 2026-06-30
19 Sage Capital Advisors,llc 76,233 $269.10K 0.42% — 2026-09-30
20 Cetera Investment Advisers Custodian 67,178 $266.03K 0.41% — 2026-06-30
21 AEGON USA Investment Management, LLC 60,614 $240.03K 0.37% — 2026-06-30
22 Bank of America Corp Custodian 58,201 $230.48K 0.36% — 2026-06-30
23 Royal Bank of Canada Custodian 56,931 $225.00K 0.35% — 2026-06-30
24 XTX Topco Ltd 54,977 $217.71K 0.34% — 2026-06-30
25 AlphaCore Capital LLC 49,000 $194.04K 0.30% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period

HIX Insider Trading (Form 4)

Latest: 2025-05-28
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
2025-05-28 Anthony Grillo Director Buy (P) +2,500 $4.14 $10.3K EDGAR
2020-12-28 Eileen A Kamerick Director Buy (P) +1,200 $6.84 $8.2K EDGAR
2020-11-23 Daniel P Cronin Director Sell (S) −13,258 $7.01 -$92.9K EDGAR
2020-01-14 Saba Capital Management, L.P. 10%+ Owner Sell (S) −157,642 $6.80 -$1.07M EDGAR
2020-01-10 Saba Capital Management, L.P. 10%+ Owner Sell (S) −522,200 $6.75 -$3.52M EDGAR
2020-01-08 Boaz Weinstein 10%+ Owner Sell (S) −683,742 $6.74 -$4.61M EDGAR
2020-01-02 Saba Capital Management, L.P. 10%+ Owner Sell (S) −592,664 $6.70 -$3.97M EDGAR
2019-12-30 Saba Capital Management, L.P. 10%+ Owner Sell (S) −251,720 $6.68 -$1.68M EDGAR
2019-12-26 Boaz Weinstein 10%+ Owner Sell (S) −1,004,524 $6.65 -$6.68M EDGAR
2019-12-23 Saba Capital Management, L.P. 10%+ Owner Sell (S) −280,666 $6.68 -$1.87M EDGAR
2019-12-19 Saba Capital Management, L.P. 10%+ Owner Sell (S) −232,800 $6.71 -$1.56M EDGAR
2019-12-17 Boaz Weinstein 10%+ Owner Sell (S) −250,306 $6.66 -$1.67M EDGAR
2019-12-13 Saba Capital Management, L.P. 10%+ Owner Sell (S) −300,356 $6.61 -$1.98M EDGAR
2019-12-11 Boaz Weinstein 10%+ Owner Sell (S) −361,648 $6.61 -$2.39M EDGAR
2019-05-31 Saba Capital Management, L.P. 10%+ Owner Buy (P) +2,822 $6.52 $18.4K 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.

HIX Insider Holdings

1 insider · @ $3.45
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 Anthony Grillo Director 2,500 $8.6K $10.3K 1 2025-05-28
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
4 ETFs hold HIX
4 shown · $14.18M total exposure · 1.26% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 YYY Amplify CEF High Income ETF Amplify 1.26% $8.3M $657.2M 2026-10-20
2 PCEF Invesco CEF Income Composite ETF Invesco 0.38% $2.9M — 2026-10-20
3 HIPS GraniteShares HIPS U.S. High Income ETF Nport 2.47% $2.7M — 2026-06-30
4 CVY Invesco Zacks Multi-Asset Income ETF Nport 0.28% $349,832 — 2026-07-31
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.