Zacks Investment ResearchT3·2mo ago
ICOP iShares Copper and Metals Mining ETF
ETF 48.00 +0.13% Pre-marketETF 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.
ICOP
$48.00
▲ +0.13%
Key stats
$47.94
Pre-market
$48.00
+0.13%
- 52-Week Range
- $36.08 – $60.93
- YTD
- +6.68%
- IV Rank (30D)
- 34.36
- Straddle Price
- $0.00
- P/C Vol Ratio
- 0.71
- Open
- $48.17
- Day Range
- $47.50 – $48.71
- Volume
- 81,020
- Prev Close
- $49.46
About
iShares Copper and Metals Mining ETF (ICOP) ETF
No description available.
- Exchange
- XNAS
- Inception
- 2023-06-21
- Has Options
- Yes
- Homepage
- https://www.ishares.com/us
Fund profile
holdings as of Nov 9, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.47% issuer, Nov 11, 2026
- Assets
- $406M issuer-reported, Nov 9, 2026
- Trailing yield
- 1.86% paid semi-annual
- Average daily volume
- $3.6M 30 sessions
- Holdings
- 83 top 10 are 63.1%
- Listed
- Jun 21, 2023 Nasdaq
- Net asset value
- $48.03 issuer, Nov 10, 2026 · closed -0.05% to NAV
- Median bid/ask spread
- 0.23% 30 days, issuer-reported
- 30-day SEC yield
- 1.21% issuer, Sep 30, 2026
- Return on NAV, 1 year
- +24.7% issuer, through Oct 31, 2026 · 3 years +32.4% a year
- Distributions, 12 months
- $0.89 a share issuer, through Jun 15, 2026: 100% income
- Tracking difference
- +1.12 pts vs index, after fees, FY 2026
Cost68
Liquidity52
Scale60
Diversification46
Moves with. Gold (32% of its variance, beta 0.65); US large-cap stocks (25% of its variance, beta 1.23); Emerging markets over US (10% of its variance, beta 0.42); Developed markets ex-US over US (6% of its variance, beta 0.75). These factors explain 79% of its daily moves over the last year.
Stated objective. The iShares Copper and Metals Mining ETF (the Fund ) seeks to track the investment results of an index composed of U.S. and non-U.S. equities of companies primarily engaged in copper and metal ore mining. (from the fund's prospectus)
All 83 holdingsFlow historySimilar fundsOverlap toolAll Metals & Mining ETFs
Fund flows
daily as of Nov 9, 2026issuer datathrough Jun 2026SEC filings- Nov 9, 2026
- $0 latest day
- Latest 5 trading days
- −$12M
- Latest 21 trading days
- −$17M −4.1% of assets
- Year to date
- +$236M +$290M over 12 months
Each day
| Day | Net flow |
|---|---|
| Nov 9, 2026 | $0 |
| Nov 6, 2026 | −$12M |
| Nov 5, 2026 | $0 |
| Nov 4, 2026 | $0 |
| Nov 3, 2026 | $0 |
| Nov 2, 2026 | $0 |
| Oct 30, 2026 | $0 |
| Oct 29, 2026 | $0 |
| Oct 28, 2026 | $0 |
| Oct 27, 2026 | $0 |
| Oct 26, 2026 | $0 |
| Oct 23, 2026 | $0 |
| Oct 22, 2026 | −$4.8M |
| Oct 21, 2026 | $0 |
| Oct 20, 2026 | $0 |
| Oct 19, 2026 | $0 |
| Oct 16, 2026 | $0 |
| Oct 15, 2026 | $0 |
| Oct 14, 2026 | $0 |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | $0 |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$5.6M latest reported month
- Latest 3 months
- +$11M +2.6% of assets
- Latest 12 months
- +$321M +74.9% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$5.6M |
| May 2026 | +$207K |
| Apr 2026 | +$5.2M |
| Mar 2026 | −$6.4M |
| Feb 2026 | +$42M |
| Jan 2026 | +$198M |
| Dec 2025 | +$54M |
| Nov 2025 | $0 |
| Oct 2025 | +$9.5M |
| Sep 2025 | +$3.4M |
| Aug 2025 | $0 |
| Jul 2025 | +$10M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 37 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| COPXGlobal X Copper Miners ETF (NEW) | 57% | 0.65% | $6.1B | +19.7% | compare |
| FMTLFirst Trust Indxx Critical Metals ETF | 54% | 0.65% | $33M | +30.4% | compare |
| EMETVanEck Copper and Electrification Metals ETF | 48% | 0.62% | $31M | — | compare |
| COPAThemes Copper Miners ETF | 40% | 0.35% | $11M | +22.4% | compare |
| PICKiShares MSCI Global Metals & Mining Producers ETF | 38% | 0.39% | $2.2B | +21.9% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Nov 9, 2026issuer data- Insider buying
- 2% of weight had net insider buying, 90 days; 20% net selling
- Reporting earnings
- 11.1% of weight in 7 days; 11.1% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.76%
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
Oct 29, 2026 → Oct 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Exit | CARNABY RESOURCES LTD | 0.04% | — | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.8%. Full holdings and history
Under the hood
fiscal year to Mar 31, 2026SEC census- Authorized participants
- 3 active of 36 with agreements; top 3 did 100%
- Created · redeemed
- $327M · −$12M over the fiscal year
- Redemptions in kind
- 97% creations 98% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 135.54% of assets on loan on average; earned 0.9 bp
- Return vs index
- +1.12 pts after fees; +1.12 before; daily s.d. 11.60
- 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 2026-11-09
Holdings
83
AUM
$405.9M
Provider
iShares (BlackRock)
Inception
2023-06-21
Exchange
XNAS
Data As Of
2026-11-09
Expense Ratio
0.47%
Dividend Yield
1.86%
Distribution
Semi-Annual
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-06-15 | 2026-06-18 | $0.2713 | CD |
| 2025-12-30 | 2026-01-05 | $0.0295 | SC |
| 2025-12-16 | 2025-12-19 | $0.5930 | CD |
| 2025-06-16 | 2025-06-20 | $0.2988 | CD |
| 2024-12-17 | 2024-12-20 | $0.4218 | CD |
| 2024-06-11 | 2024-06-17 | $0.0544 | CD |
Asset Allocation
Top Holdings
top 50 of 83 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| AAL | ANGLO AMERICAN PLC | 8.82% | Equity (Foreign) | GB |
| GMEXICOB | GRUPO MEXICO B | 8.50% | Equity (Foreign) | MX |
| BHP | BHP GROUP LTD | 8.18% | Equity (Foreign) | AU |
| FCX | FREEPORT MCMORAN INC | 7.96% | Equity (US) | US |
| TECK.B | TECK RESOURCES SUBORDINATE VOTING | 6.18% | Equity (Foreign) | CA |
| NEM | NEWMONT | 5.75% | Equity (US) | US |
| SCCO | SOUTHERN COPPER CORP | 4.69% | Equity (Foreign) | PE |
| LUN | LUNDIN MINING | 4.47% | Equity (Foreign) | CA |
| ANTO | ANTOFAGASTA PLC | 4.44% | Equity (Foreign) | GB |
| FM | FIRST QUANTUM MINERALS | 4.09% | Equity (Foreign) | CA |
| ABX | BARRICK MINING | 3.37% | Equity (Foreign) | CA |
| RIO | RIO TINTO ADR REPTG ONE | 3.09% | Equity (Foreign) | GB |
| GLEN | GLENCORE PLC | 3.03% | Equity (Foreign) | GB |
| KGH | KGHM POLSKA MIEDZ SA | 3.01% | Equity (Foreign) | PL |
| HBM | HUDBAY MINERALS | 2.94% | Equity (Foreign) | CA |
| VALE | VALE ADR REPRESENTING ONE | 2.25% | Equity (Foreign) | BR |
| SFR | SANDFIRE RESOURCES | 1.90% | Equity (Foreign) | AU |
| CS | CAPSTONE COPPER CORP | 1.66% | Equity (Foreign) | CA |
| CGG | CHINA GOLD INTERNATIONAL RESOURCES | 1.58% | Equity (Foreign) | CN |
| IVN | IVANHOE MINES CLASS A | 1.20% | Equity (Foreign) | CA |
| — | MMG LTD | 1.14% | Equity (Foreign) | CN |
| AUGO | AURA MINERALS INC | 1.11% | Equity (Foreign) | BR |
| ERO | ERO COPPER | 0.95% | Equity (Foreign) | CA |
| EVN | EVOLUTION MINING | 0.93% | Equity (Foreign) | AU |
| TKO | TREKOR METALS | 0.80% | Equity (Foreign) | CA |
| S32 | SOUTH32 | 0.69% | Equity (Foreign) | AU |
| NGEX | NGEX MINERALS | 0.67% | Equity (Foreign) | CA |
| — | CHINA NONFERROUS MINING CORPORATIO | 0.59% | Equity (Foreign) | CN |
| ATYM | ATALAYA MINING COPPER SA | 0.49% | Equity (Foreign) | GB |
| — | TWO POINT ZERO GROUP | 0.40% | Equity (Foreign) | AE |
| — | INDUST PENOLES | 0.40% | Equity (Foreign) | MX |
| — | NITTETSU MINING LTD | 0.38% | Equity (Foreign) | JP |
| ARG | AMERIGO RESOURCES LTD | 0.27% | Equity (Foreign) | CA |
| — | ZIJIN MINING GROUP LTD A | 0.26% | Equity (Foreign) | CN |
| ASM | AVINO SILVER AND GOLD MINES LTD | 0.24% | Equity (Foreign) | CA |
| FDY | FARADAY COPPER CORP | 0.22% | Equity (Foreign) | CA |
| OM | OSISKO METALS INC | 0.22% | Equity (Foreign) | CA |
| — | AL MASANE AL KOBRA MINING | 0.22% | Equity (Foreign) | SA |
| FFM | FIREFLY METALS LTD | 0.22% | Equity (Foreign) | AU |
| SLS | SOLARIS RESOURCES | 0.22% | Equity (Foreign) | CA |
| — | JIANGXI COPPER LTD A | 0.18% | Equity (Foreign) | CN |
| — | WESTERN MINING LTD A | 0.18% | Equity (Foreign) | CN |
| AMMN | AMMAN MINERAL INTERNASIONAL | 0.16% | Equity (Foreign) | ID |
| VISC | GRUVAKTIEBOLAGET VISCARIA CLASS B | 0.14% | Equity (Foreign) | SE |
| III | IMPERIAL METALS | 0.12% | Equity (Foreign) | CA |
| MARI | MARIMACA COPPER | 0.12% | Equity (Foreign) | CA |
| AT | ATLAS CONSOLIDATED MINING AND DEVE | 0.11% | Equity (Foreign) | PH |
| NDM | NORTHERN DYNASTY MINERALS | 0.11% | Equity (Foreign) | CA |
| LMCU | LUMINA METALS CORP | 0.11% | Equity (Foreign) | CA |
| AIS | AERIS RESOURCES LTD | 0.10% | Equity (Foreign) | AU |
Geographic Breakdown
Non-Equity Breakdown
iShares Copper and Metals Mining ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-24)
Net assets:
$429M
· 59 total positions
· equity 91.33%
· non-equity 10.41%
Non-equity holdings
— 16 positions,
10.41% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Other | 8.63% | $37.0M | 13 |
| Short-term investment | 1.78% | $7.7M | 2 |
| Derivative (equity) | 0.00% | $9767 | 1 |
Chart
Seasonality
| Month | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|
| Jan | -- | -3.49% | -0.93% | 13.60% | 3.06% |
| Feb | -- | -2.20% | -0.10% | 10.84% | 2.85% |
| Mar | -- | 15.50% | 2.78% | -15.96% | 0.77% |
| Apr | -- | 7.13% | -1.21% | 1.43% | 2.45% |
| May | -- | 5.01% | 6.44% | 11.34% | 7.60% |
| Jun | 1.08% | -4.40% | 4.62% | -12.23% | -2.73% |
| Jul | 7.86% | -3.20% | -3.11% | 2.52% | 1.02% |
| Aug | -7.11% | 3.84% | 11.42% | 16.02% | 6.04% |
| Sep | -4.58% | 17.12% | 15.85% | -5.40% | 5.75% |
| Oct | -6.53% | -8.29% | 2.18% | -10.91% | -5.89% |
| Nov | 7.02% | -3.32% | 6.06% | 0.76%* | 2.63% |
| Dec | 5.43% | -10.13% | 9.75% | -- | 1.68% |
| Total | 1.91% | 9.98% | 66.46% | 5.94% | 21.08% |
* Only 4 year(s) of data available.
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: $49.06
SMA 50: $52.56
SMA 200: $52.04
Current: $47.94
EMA 12: $48.32
EMA 26: $49.77
MACD: -1.4505 | Signal: 0.1135
BEARISH
ADX (14): 23.82
WEAK TREND
+DI: 25.65
−DI: 35.32
Momentum Oscillators
RSI (14): 43.79
NEUTRAL
Stoch %K: 45.50
Stoch %D: 31.36
Williams %R: -49.28
Volume & Volatility
BB Upper: $52.77
BB Lower: $45.34
NEUTRAL
OBV: 6,760,270
Vol SMA 20: 80,944
Vol ROC: 6.47%
ATR: $1.74
True Range: $1.96
HV 20: 46.9%
HV 30: 41.9%
HV 60: 39.7%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-12T00:00:00 – 2026-11-10T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Confidence Level: 7/10 (BULLISH)
Key Drivers: Recent positive news headlines on critical mineral supply chains, stable technical indicators, and moderate options market sentiment.
Primary Risks: High volatility, potential regulatory issues, and market fluctuations.
Investment Thesis: ICOP's recent price action suggests a bullish trend, driven by positive market sentiments and stable technical indicators. However, the stock's high beta and volatility pose risks that investors should consider when evaluating this investment opportunity.
Recent News Sentiment Impact: The positive news headlines on critical mineral supply chains have contributed to ICOP's recent upswing, with sentiment trending positively overall.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Uptrend
- Medium-term (1-3 months): Uptrend
- Long-term (3-12 months): Bullish consolidation
Support/Resistance Levels:
- Resistance 1: $52.02 (Bollinger Bands Upper)
- Support 1: $49.02 (SMA 20)
Momentum Signals:
- RSI Interpretation: Neutral (61.08)
- MACD Signal: Bearish (Histogram -0.33)
- Bollinger Bands Position: Overbought
News & Sentiment Analysis
Recent Headlines Summary: Positive news on critical mineral supply chains, neutral market commentary, and some mixed sentiment.
Sentiment Assessment: Neutral to positive overall sentiment from recent headlines.
Catalyst Identification: Upcoming earnings report, potential regulatory changes in the mining industry.
Market Narrative: The market narrative is influenced by ICOP's recent price action, with a focus on its strong momentum and stable technical indicators. However, the high volatility and beta pose risks that investors should consider when evaluating this investment opportunity.
Risk & Volatility Assessment
Beta Interpretation: High risk relative to market (beta 2.09).
Volatility Regime: Current volatility levels are higher than historical norms.
Options Market Signals:
- IV Rank: Medium
- Put/Call Ratio: Neutral
- Unusual Activity: No significant activity detected
Market Context & Positioning
Sector Performance: ICOP's sector, mining, has shown strong performance recently.
Institutional Activity: Moderate institutional interest with a focus on ICOP's recent price action.
Correlation Analysis: ICOP's correlation with the market is relatively high (0.66).
Relative Valuation: ICOP's position within its trading range is neutral.
Key Levels & Action Items
Critical Price Levels:
- Resistance 1: $52.02
- Support 1: $49.02
Breakout/Breakdown Levels:
- Breakout level: $54.50 (SMA 200)
- Breakdown level: $46.00 (Bollinger Bands Lower)
Time-Sensitive Catalysts: Earnings report, regulatory changes.
Risk Management: Stop-loss levels at $49.00 and position sizing considerations due to high volatility.
Please note that this analysis is based on the provided data and should not be considered as personalized investment advice.
Generated
News
All ICOP news →
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ICOP Options Activity & IV Rank
ICOP IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 39.8%
7-DTE IV: 42.8%
Expected Move: $0.00
7-DTE Move: $0.00
Days to Exp: 38 (2026-12-18)
Options Flow · All expiries
Call Volume: 326
Put Volume: 231
P/C Volume: 0.709
NEUTRAL
Call OI: 456
Put OI: 365
P/C OI: 0.8
Total OI: 821
ATM Options Pricing
ATM Call: $0.00
ATM Put: $0.00
Call %: 0.0%
Put %: 0.0%
Chain Summary
Chain Volume: 557
Chain OI: 821
Last Updated: 11/10/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
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.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
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 →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
LOW γ vs HISTORY
Estimated net dealer gamma is at the 18th 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
18%
vs own history
GEX tilt
-0.27
OI-weighted, today
Vanna tilt
+0.09
δ-sensitivity to IV
Charm tilt
-0.52
δ-decay vs time
Charm tilt -0.52: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 13 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 Nov 10 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Nov 10 · No data
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
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)15.2LowNov 10
IV Rank (30 DTE)34.4MediumNov 10
Straddle Price (30 DTE)$0.00Nov 10
Beta Analysis
Risk Metrics
Beta: 2.1072
Alpha: 7.54%
Correlation: 0.6620
R-Squared: 43.8%
Stock Volatility: 43.5%
Market Volatility: 13.7%
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
ICOP Institutional Ownership (13F)
Filings for 2026-06-30 · 44 already for 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$3.33M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $2.85M | 85.46% | 2026-06-30 |
| 2 | Belvedere Trading LLC | $484.30K | 14.54% | 2026-09-30 |
2 filers$823.87K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $669.53K | 81.27% | 2026-06-30 |
| 2 | Belvedere Trading LLC | $154.34K | 18.73% | 2026-09-30 |
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
75.61K
SI % of Float
0.87%
Days to Cover
1.48
Short Vol Ratio
41.6%
Free Float
—
Float %
—
Short interest 2026-10-15 • Short volume 2026-11-10
ICOP Constituent Performance
Click any bar to view the full quote for that stock.
ICOP Constituents (25 of 47)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| AAL | ANGLO AMERICAN PLC | 8.82% | $14.11 | -0.35% | +10.06% | +12.88% |
| BHP | BHP GROUP LTD | 8.18% | $81.12 | -2.10% | +3.83% | -4.51% |
| FCX | FREEPORT MCMORAN INC | 7.96% | $60.31 | -3.24% | -2.36% | -16.72% |
| NEM | NEWMONT | 5.75% | $119.96 | -4.15% | +11.62% | +3.78% |
| SCCO | SOUTHERN COPPER CORP | 4.69% | $170.36 | -3.22% | -1.80% | -17.00% |
| FM | FIRST QUANTUM MINERALS | 4.09% | $27.19 | +0.41% | +0.22% | -1.56% |
| ABX | BARRICK MINING | 3.37% | $9.13 | +1.56% | +5.92% | +12.44% |
| RIO | RIO TINTO ADR REPTG ONE | 3.09% | $84.54 | -2.14% | +3.58% | -9.16% |
| HBM | HUDBAY MINERALS | 2.94% | $21.95 | -3.69% | +2.38% | -14.52% |
| VALE | VALE ADR REPRESENTING ONE | 2.25% | $11.58 | -3.26% | +5.46% | -13.39% |
| SFR | SANDFIRE RESOURCES | 1.90% | $0.07 | -40.18% | -56.77% | -59.48% |
| CS | CAPSTONE COPPER CORP | 1.66% | $0.89 | +0.99% | -1.03% | +4.54% |
| AUGO | AURA MINERALS INC | 1.11% | $81.31 | -6.53% | +26.83% | -7.54% |
| ERO | ERO COPPER | 0.95% | $30.67 | -2.08% | +0.76% | -16.32% |
| EVN | EVOLUTION MINING | 0.92% | $10.05 | -0.89% | -0.30% | +4.91% |
| TKO | TREKOR METALS | 0.80% | $199.22 | -0.22% | +6.42% | +14.59% |
| ASM | AVINO SILVER AND GOLD MINES LTD | 0.24% | $4.64 | -5.50% | +8.67% | -10.77% |
| OM | OSISKO METALS INC | 0.22% | $4.22 | +2.43% | +1.69% | +3.94% |
| SLS | SOLARIS RESOURCES | 0.22% | $8.37 | -2.45% | -5.64% | -32.55% |
| III | IMPERIAL METALS | 0.12% | $6.13 | +1.66% | +2.00% | +4.25% |
| AT | ATLAS CONSOLIDATED MINING AND DEVE | 0.11% | $18.31 | -0.42% | -1.89% | -7.29% |
| AIS | AERIS RESOURCES LTD | 0.10% | $53.31 | -1.51% | -8.97% | -24.47% |
| WRN | WESTERN COPPER AND GOLD CORP | 0.09% | $1.52 | -3.80% | -2.56% | -21.24% |
| CAML | CENTRAL ASIA METALS PLC | 0.09% | $38.37 | -0.65% | -2.20% | -7.65% |
| NEXA | NEXA RESOURCES SA | 0.03% | $11.95 | -0.75% | +4.55% | -8.85% |