ITA iShares U.S. Aerospace & Defense ETF

ETF 202.93 Delayed

ETF 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.

ITA $202.93 —
Key stats
$202.93
52-Week Range
$195.71 – $256.60
YTD
-8.59%
IV Rank (30D)
92.5
Straddle Price
$11.90
P/C Vol Ratio
0.88
Open
$204.51
Day Range
$201.79 – $206.53
Volume
404,035
Prev Close
$205.79
About

iShares U.S. Aerospace & Defense ETF (ITA) ETF

No description available.

Exchange
BATS
Inception
2006-05-01
Has Options
Yes
Homepage
https://www.ishares.com/us
Fund profile
holdings as of Oct 20, 2026issuer datathrough Jun 2026flows, SEC filings
Thematic Aerospace & Defense#1 of 38 by assets iShares US Index-tracking
Expense ratio
0.37%
issuer, Oct 22, 2026
Assets
$11.9B
issuer-reported, Oct 20, 2026
Trailing yield
0.28%
paid quarterly
Average daily volume
$186M
30 sessions
Holdings
54
top 10 are 76.2%
Listed
May 1, 2006
Cboe BZX
Last fee change
-2 bp
filed Jul 22, 2025
Net asset value
$205.71
issuer, Oct 21, 2026 · closed +0.04% to NAV
Median bid/ask spread
0.05%
30 days, issuer-reported
30-day SEC yield
0.46%
issuer, Sep 30, 2026
Return on NAV, 1 year
−0.8%
issuer, through Sep 30, 2026 · 3 years +25.9% a year · 5 years +15.6% · 10 years +13.5%
Distributions, 12 months
$0.57 a share
issuer, through Sep 15, 2026: 100% income
Closure risk, 12 months
0.1%
low · model
Tracking difference
-0.56 pts
vs index, after fees, FY 2026
FrenzyCap ETF score
78
how it is built
Cost81
Liquidity100
Scale100
Diversification26

Moves with. US large-cap stocks (31% of its variance, beta 1.02); Small caps over large (7% of its variance, beta 0.43); Developed markets ex-US over US (5% of its variance, beta 0.49). These factors explain 41% of its daily moves over the last year.

Stated objective. The iShares U.S. Aerospace & Defense ETF (the Fund ) seeks to track the investment results of an index composed of U.S. equities in the aerospace and defense sector. (from the fund's prospectus)

All 54 holdingsFlow historySimilar fundsOverlap toolAll Aerospace & Defense ETFs

Fund flows
daily as of Oct 20, 2026issuer datathrough Jun 2026SEC filings
Oct 20, 2026
+$21M
latest day
Latest 5 trading days
−$20M
Latest 21 trading days
−$154M
−1.3% of assets
Year to date
−$340M
+$107M over 12 months
Each day
Net creations of ITA by day, Sep 22, 2026 to Oct 20, 2026
DayNet flow
Oct 20, 2026+$21M
Oct 19, 2026−$21M
Oct 16, 2026$0
Oct 15, 2026+$21M
Oct 14, 2026−$41M
Oct 13, 2026−$31M
Oct 12, 2026+$10M
Oct 9, 2026−$31M
Oct 8, 2026−$31M
Oct 7, 2026$0
Oct 6, 2026+$10M
Oct 5, 2026−$21M
Oct 2, 2026−$31M
Oct 1, 2026−$21M
Sep 30, 2026+$31M
Sep 29, 2026−$42M
Sep 28, 2026−$21M
Sep 25, 2026$0
Sep 24, 2026+$43M
Sep 23, 2026−$43M
Sep 22, 2026+$43M

Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.

Jun 2026
−$298M
latest reported month
Latest 3 months
−$482M
−3.3% of assets
Latest 12 months
+$3.2B
+22.2% of assets
Jul 2025: +$364MAug 2025: +$218MAugSep 2025: +$1.9B+$1.9BOct 2025: +$403MOctNov 2025: +$71MDec 2025: +$237MDecJan 2026: +$924MFeb 2026: +$448MFebMar 2026: −$893M−$893MApr 2026: +$72MAprMay 2026: −$257MJun 2026: −$298MJun
View as a table
Net flows of ITA by month, Jul 2025 to Jun 2026
MonthNet flow
Jun 2026−$298M
May 2026−$257M
Apr 2026+$72M
Mar 2026−$893M
Feb 2026+$448M
Jan 2026+$924M
Dec 2025+$237M
Nov 2025+$71M
Oct 2025+$403M
Sep 2025+$1.9B
Aug 2025+$218M
Jul 2025+$364M

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
FundOverlapFeeAssets1Y
DFENDirexion Daily Aerospace & Defense Bull 3X ETF71%—$285M−33.3%compare
PPAInvesco Aerospace & Defense ETF71%0.58%$7.4B+0.5%compare
MISLFirst Trust Indxx Aerospace & Defense ETF67%0.60%$667M−3.2%compare
NATOThemes Transatlantic Defense ETF63%0.35%$101M−4.4%compare
AVCorgi Aerospace & Commercial Aviation ETF57%0.35%$754K—compare

Ranked by how much of the two portfolios is the same securities.

Look-through: what the holdings say
weights as of Oct 20, 2026issuer data
Holdings vs fair value
+3.3%
38% under, 33% over · 100% covered
Price / earnings
35.1
4% loss-making · 96% covered
Price / book · sales
5.8 · 2.9
revenue growth +9.1%
Above 200-day average
3%
14% above 50-day · by weight
Short interest
2.5%
of float, weighted · 2.6 days to cover
Insider buying
7%
of weight had net insider buying, 90 days; 42% net selling
13F holders
+1.1%
change in shares held by institutions, latest quarter
Reporting earnings
31.6%
of weight in 7 days; 43.3% in 14
Implied correlation
0.31
fund IV 23.1% vs holdings 38.5% · board
Largest contributors below fair value
RTX+16%GD+32%LMT+26%BA+11%TXT+50%
Largest contributors above fair value
GE−12%TDG−13%ATI−24%RKLB−12%AXON−9%

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
Mar 31, 2026 → Jun 30, 2026
ActionHoldingWeight beforeWeight afterShares vs flows
IncreaseNOCNorthrop Grumman Corporation4.58%3.92%+27.2%
IncreaseLMTLOCKHEED MARTIN CORPORATION4.58%4.05%+16.3%
DecreaseATROASTRONICS CORPORATION0.18%0.04%−83.5%
New positionFLYFIREFLY AEROSPACE INC.—0.07%—
IncreaseRDWREDWIRE CORPORATION0.06%0.10%+32.0%
New positionYSSYork Space Systems Inc—0.03%—
New positionVOYGVOYAGER TECHNOLOGIES, INC.—0.03%—
New positionSPCEVIRGIN GALACTIC HOLDINGS, INC.—0.02%—
IncreaseRCATRED CAT HOLDINGS, INC.0.12%0.10%+15.8%
DecreaseVSECVSE CORPORATION0.45%0.45%−10.0%

0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.9%. Full holdings and history

Under the hood
fiscal year to Mar 31, 2026SEC census
Authorized participants
9 active
of 36 with agreements; top 3 did 77%
Created · redeemed
$8.2B · −$4.1B
over the fiscal year
Redemptions in kind
100%
creations 100% in kind
Creation unit
50,000
shares
Securities lending
2.18%
of assets on loan on average; earned 0.6 bp
Return vs index
-0.56 pts
after fees; -0.28 before; daily s.d. 0.06
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
54
AUM
$11.9B
Provider
iShares (BlackRock)
Inception
2006-05-01
Exchange
BATS
Data As Of
2026-10-20
Expense Ratio
0.37%
Dividend Yield
0.27%
Distribution
Quarterly
Recent distributions
Ex-Date Pay Date Amount Type
2026-09-15 2026-09-18 $0.2505 CD
2026-06-15 2026-06-18 $0.1636 CD
2026-03-17 2026-03-20 $0.1513 CD
2025-09-16 2025-09-19 $0.7499 CD
2025-06-16 2025-06-20 $0.1720 CD
2025-03-18 2025-03-21 $0.2533 CD
Asset Allocation
Top Holdings
top 50 of 54 holdings
Symbol Name Weight % Asset Class Country
GE GE AEROSPACE 20.22% Equity (US) US
RTX RTX 16.94% Equity (US) US
BA BOEING 7.70% Equity (US) US
LMT LOCKHEED MARTIN 4.98% Equity (US) US
NOC NORTHROP GRUMMAN CORP 4.93% Equity (US) US
TDG TRANSDIGM GROUP 4.83% Equity (US) US
GD GENERAL DYNAMICS CORP 4.65% Equity (US) US
HWM HOWMET AEROSPACE 4.33% Equity (US) US
HONA HONEYWELL AEROSPACE INC 3.96% Equity (US) US
LHX L3HARRIS TECHNOLOGIES 3.62% Equity (US) US
AXON AXON ENTERPRISE 2.49% Equity (US) US
RKLB ROCKET LAB CORP 2.19% Equity (US) US
ATI ATI 1.95% Equity (US) US
WWD WOODWARD 1.49% Equity (US) US
CRS CARPENTER TECHNOLOGY 1.44% Equity (US) US
CW CURTISS WRIGHT 1.43% Equity (US) US
HEI.A HEICO CLASS A 1.36% Equity (US) US
FTAI FTAI AVIATION 1.27% Equity (US) US
TXT TEXTRON INC 1.04% Equity (US) US
HEI HEICO 0.97% Equity (US) US
BWXT BWX TECHNOLOGIES INC 0.96% Equity (US) US
HII HUNTINGTON INGALLS INDUSTRIES 0.84% Equity (US) US
MOG.A MOOG INC CLASS A 0.81% Equity (US) US
KTOS KRATOS DEFENSE AND SECURITY SOLUTI 0.57% Equity (US) US
HXL HEXCEL 0.54% Equity (US) US
SARO STANDARDAERO 0.37% Equity (US) US
AVAV AEROVIRONMENT 0.35% Equity (US) US
VSEC VSE CORP 0.34% Equity (US) US
KRMN KARMAN HOLDINGS INC 0.34% Equity (US) US
MRCY MERCURY SYSTEMS INC 0.33% Equity (US) US
AIR AAR 0.31% Equity (US) US
DRS LEONARDO DRS INC 0.21% Equity (US) US
ACHR ARCHER AVIATION CLASS A 0.20% Equity (US) US
ARXS ARXIS CLASS A 0.20% Equity (US) US
DCO DUCOMMUN 0.18% Equity (US) US
LOAR LOAR HOLDINGS 0.17% Equity (US) US
VVX V2X 0.17% Equity (US) US
ATRO ASTRONICS 0.17% Equity (US) US
BETA BETA TECHNOLOGIES CLASS A 0.17% Equity (US) US
RDW REDWIRE 0.16% Equity (US) US
LUNR INTUITIVE MACHINES INC CLASS A 0.13% Equity (US) US
FLY FIREFLY AEROSPACE 0.12% Equity (US) US
VOYG VOYAGER TECHNOLOGIES CLASS A 0.10% Equity (US) US
— BLK CSH FND TREASURY SL AGENCY 0.09% Cash/Money Market US
CDRE CADRE HOLDINGS 0.07% Equity (US) US
NPK NATIONAL PRESTO INDUSTRIES INC 0.06% Equity (US) US
RGR STURM RUGER 0.05% Equity (US) US
SWBI SMITH WESSON BRANDS INC 0.05% Equity (US) US
RCAT RED CAT HOLDINGS INC 0.05% Equity (US) US
YSS YORK SPACE SYSTEMS INC 0.04% Equity (US) US
Non-Equity Breakdown
iShares U.S. Aerospace & Defense ETF · NPORT-P period 2026-06-30 (filed 2026-08-24)
Net assets: $14.44B · 52 total positions · equity 99.93% · non-equity 1.61%
Non-equity holdings — 3 positions, 1.61% of NAV
Category Weight Value Positions
Short-term investment 1.61% $232.4M 2
Derivative (equity) 0.00% $205891 1
Chart
Seasonality
'21'22'23'24'25'26Avg
Jan-1.92%-2.53%2.87%-2.22%8.09%4.67%1.49%
Feb5.52%9.35%-0.05%3.38%-1.28%5.43%3.72%
Mar5.36%0.07%-0.59%3.16%0.03%-12.70%-0.78%
Apr1.91%-7.86%-2.50%-0.79%1.75%-2.27%-1.63%
May3.13%-0.71%-4.89%4.54%11.79%8.86%3.79%
Jun-1.71%-2.83%5.91%-3.31%5.83%5.44%1.55%
Jul-1.91%3.54%0.68%8.82%6.26%-1.72%2.61%
Aug-1.55%-2.74%-1.32%4.40%1.35%-7.20%-1.18%
Sep-1.16%-9.31%-8.99%4.89%5.42%-8.11%-2.88%
Oct-1.60%14.26%4.85%-4.57%3.13%-2.56%*2.25%
Nov-6.89%4.27%8.40%7.63%-4.60%--1.76%
Dec7.59%-0.13%4.39%-5.23%7.75%--2.87%
Total5.98%3.03%7.69%21.30%54.64%-11.75%13.48%
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: $206.94
SMA 50: $219.54
SMA 200: $229.69
Current: $203.00
EMA 12: $206.35
EMA 26: $209.98
MACD: -3.6357 | Signal: 0.7068
BEARISH
ADX (14): 42.82
STRONG TREND
+DI: 14.08
−DI: 29.80

Momentum Oscillators

RSI (14): 33.39
NEUTRAL
Stoch %K: 38.51
Stoch %D: 51.82
Williams %R: -80.69

Volume & Volatility

BB Upper: $211.77
BB Lower: $202.10
NEUTRAL
OBV: 8,189,724
Vol SMA 20: 832,566
Vol ROC: -62.41%
ATR: $3.85
True Range: $4.74
HV 20: 15.7%
HV 30: 14.4%
HV 60: 17.7%

Data Summary

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

LLM Stock Analysis Report

Executive Summary

Overall Assessment: NEUTRAL (confidence level: 6/10)

Key Drivers: Recent positive news headlines, technical momentum signals, and beta analysis indicating amplification of market movements.

Primary Risks: Oversold RSI reading, bearish MACD signal, and high volatility.

2-3 Sentence Investment Thesis: ITA's recent price decline is likely to be corrected in the short term, driven by positive news sentiment and technical momentum signals. However, the stock remains vulnerable to further declines due to its high volatility and bearish MACD signal. A cautious approach with stop-loss levels and position sizing considerations is recommended.

Recent News Sentiment Impact: Positive sentiment from recent headlines may have contributed to the short-term price increase, but further analysis is required to determine the sustainability of this trend.

Technical Analysis

Trend Direction:

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

Support/Resistance Levels: $212.81 (lower Bollinger Band), $229.73 (SMA 200)

Momentum Signals:

  • RSI interpretation: Oversold (<30)
  • MACD signal: Bearish
  • Bollinger Bands position: Neutral (mean reversion)

Volume Analysis: Volume trends and institutional interest signals suggest medium risk, with a volume rate of change indicating increased buying pressure.

News & Sentiment Analysis

Recent Headlines Summary: Positive news headlines from Zacks Investment Research, The Motley Fool, and other sources have driven recent market sentiment.

Sentiment Assessment: Aggregate news sentiment is positive (70%).

Catalyst Identification: No specific catalyst identified, but upcoming earnings announcements may impact the stock's performance.

Market Narrative: Technical signals indicate a correction in progress, while news sentiment suggests continued upward momentum. This divergence warrants further analysis and caution.

Risk & Volatility Assessment

Beta Interpretation: Beta of 1.04 indicates above-average volatility and amplification of market movements.

Volatility Regime: Current vs historical volatility levels: High (20.8%) vs average (19.5%).

Options Market Signals: IV rank: Medium (43.3%), put/call ratios indicate bullish sentiment, and unusual activity is present.

Downside Protection: Support levels and risk management considerations are essential due to the stock's high volatility and bearish MACD signal.

Market Context & Positioning

Sector Performance: ITA outperforms the broader defense sector.

Institutional Activity: Volume patterns suggest institutional interest, but this may not be sustainable in the long term.

Correlation Analysis: Stock moves relative to market (R-squared: 0.57), indicating amplification of market movements.

Relative Valuation: Position within trading range: Neutral.

Key Levels & Action Items

Critical Price Levels: Support at $212.81 and resistance at $229.73 are essential levels to monitor.

Breakout/Breakdown Levels: Technical levels that could trigger significant moves include the upper Bollinger Band ($256.04) and the SMA 200 ($229.73).

Time-Sensitive Catalysts: No specific catalyst identified, but upcoming earnings announcements may impact the stock's performance.

Risk Management: Stop-loss levels at $205.00 and position sizing considerations are recommended due to the high volatility and bearish MACD signal.

Please note that this analysis is based on the provided data and should not be taken as investment advice. It is essential to consider your individual financial goals, risk tolerance, and market conditions before making any investment decisions.

Generated
News
All ITA news →
Showing 1–10 of 50
Page 1 of 5

ITA Options Activity & IV Rank

ITA IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 25.7%
7-DTE IV: —
Expected Move: $11.90
7-DTE Move: $11.90
Days to Exp: 29 (2026-11-20)

Options Flow

Call Volume: 371
Put Volume: 328
P/C Volume: 0.884
NEUTRAL
Call OI: 2,201
Put OI: 1,159
P/C OI: 0.527
Total OI: 3,360

ATM Options Pricing

ATM Call: $5.30
ATM Put: $6.60
Call %: 2.6%
Put %: 3.3%

Chain Summary

Chain Volume: 2,280
Chain OI: 29,722
Last Updated: 10/22/2026
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.

Dealer Positioning
TYPICAL γ

Estimated net dealer gamma is at the 28th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
28%
vs own history
GEX tilt
+0.18
OI-weighted, today
Vanna tilt
+0.41
δ-sensitivity to IV
Charm tilt
-0.54
δ-decay vs time
Vanna tilt +0.41: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.54: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.

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.

· 73 ATM contracts, 10k total OI
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
No data
30 DTE / 10d —
— pts EXTREME
ATM 25.4% / 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)92.5HighOct 22
Straddle Price (30 DTE)$11.90Oct 22
Beta Analysis

Risk Metrics

Beta: 0.9908
Alpha: -15.45%
Correlation: 0.5483
R-Squared: 30.1%
Stock Volatility: 23.0%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Beta & Alpha Over Time

ITA 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.

1,078 filers29,804,796 shares$7.39B value
# Filer Shares Value % of Total % of Float Period
1 Bank of America Corp Custodian 3,017,072 $731.40M 9.90% — 2026-06-30
2 Morgan Stanley Custodian 2,648,724 $642.10M 8.69% — 2026-06-30
3 LPL Financial LLC Custodian 2,318,935 $562.16M 7.61% — 2026-06-30
4 Wells Fargo & Company Custodian 1,457,545 $353.34M 4.78% — 2026-06-30
5 Phoenix Financial Ltd. 1,278,993 $310.05M 4.20% — 2026-06-30
6 Ameriprise Financial, Inc. Custodian 1,132,506 $274.56M 3.71% — 2026-06-30
7 PeakShares LLC 1,100 $266.66M 3.61% — 2026-06-30
8 BlackRock, Inc. Custodian 786,640 $190.70M 2.58% — 2026-06-30
9 Raymond James Financial, Inc. Custodian 765,331 $185.53M 2.51% — 2026-06-30
10 Envestnet Asset Management, Inc. 655,978 $159.02M 2.15% — 2026-06-30
11 Royal Bank of Canada Custodian 617,649 $149.73M 2.03% — 2026-06-30
12 Northwestern Mutual Wealth Management Co 616,653 $149.49M 2.02% — 2026-06-30
13 UBS Group AG Custodian 592,720 $143.69M 1.94% — 2026-06-30
14 JPMorgan Chase & Co Custodian 560,045 $133.92M 1.81% — 2026-06-30
15 OSAIC HOLDINGS, INC. Custodian 533,033 $129.29M 1.75% — 2026-06-30
16 MML INVESTORS SERVICES, LLC 403,807 $97.89M 1.32% — 2026-06-30
17 Cetera Investment Advisers Custodian 398,559 $96.62M 1.31% — 2026-06-30
18 Goldman Sachs Group Inc Custodian 366,065 $88.74M 1.20% — 2026-06-30
19 Dynasty Wealth Management, LLC 348,483 $84.48M 1.14% — 2026-06-30
20 COMMONWEALTH EQUITY SERVICES, LLC 343,700 $83.32M 1.13% — 2026-06-30
21 Jones Financial Companies LLLP Custodian 271,717 $64.34M 0.87% — 2026-06-30
22 Stifel Financial Corp Custodian 218,958 $53.09M 0.72% — 2026-06-30
23 Rockefeller Capital Management L.P. Custodian 214,403 $51.98M 0.70% — 2026-06-30
24 BNP Paribas Financial Markets Custodian 207,319 $50.26M 0.68% — 2026-06-30
25 Equitable Holdings, Inc. 202,455 $49.08M 0.66% — 2026-06-30
9 filers$142.45M notional
# Filer Notional Value % of Total Period
1 Jane Street Group, LLC Custodian $38.76M 27.21% 2026-06-30
2 Susquehanna International Group, LLP Custodian $38.11M 26.75% 2026-06-30
3 Citadel Advisors LLC Custodian $33.79M 23.72% 2026-06-30
4 Point72 Asset Management, L.P. $13.48M 9.46% 2026-06-30
5 Cubist Systematic Strategies, LLC $9.73M 6.83% 2025-09-30
6 Wolverine Trading, LLC Custodian $4.31M 3.03% 2025-09-30
7 Squarepoint Ops LLC $2.40M 1.68% 2026-06-30
8 Belvedere Trading LLC $1.82M 1.28% 2026-06-30
9 B. Riley Wealth Advisors, Inc. $41.44K 0.03% 2026-09-30
11 filers$240.01M notional
# Filer Notional Value % of Total Period
1 Jane Street Group, LLC Custodian $96.02M 40.01% 2026-06-30
2 Citadel Advisors LLC Custodian $59.95M 24.98% 2026-06-30
3 Susquehanna International Group, LLP Custodian $29.09M 12.12% 2026-06-30
4 Cubist Systematic Strategies, LLC $19.29M 8.04% 2025-09-30
5 Squarepoint Ops LLC $14.04M 5.85% 2026-06-30
6 Point72 Asset Management, L.P. $13.96M 5.82% 2026-06-30
7 Wolverine Trading, LLC Custodian $3.33M 1.39% 2025-09-30
8 TORONTO DOMINION BANK $3.03M 1.26% 2026-06-30
9 Belvedere Trading LLC $1.02M 0.42% 2026-06-30
10 BANK OF NOVA SCOTIA $252.12K 0.10% 2026-06-30
11 MARINER INVESTMENT GROUP LLC $26.00K 0.01% 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
1.59M
SI % of Float
2.75%
Days to Cover
1.82
Short Vol Ratio
74.4%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
ITA Constituent Performance

Click any bar to view the full quote for that stock.

ITA Constituents (50 of 50)
Symbol Name Weight % Price 1 Day 1 Week 1 Month
GE GE AEROSPACE 20.22% $291.0 -1.65%-6.73%-9.00%
RTX RTX 16.94% $191.59 -0.01%+2.48%+1.58%
BA BOEING 7.70% $189.87 -1.26%+0.60%-3.52%
LMT LOCKHEED MARTIN 4.98% $579.11 +5.00%+8.72%+10.58%
NOC NORTHROP GRUMMAN CORP 4.93% $549.38 +1.87%+9.96%+7.94%
TDG TRANSDIGM GROUP 4.83% $1116.56 -1.14%-1.56%+1.02%
GD GENERAL DYNAMICS CORP 4.65% $346.69 +0.58%+2.87%+3.09%
HWM HOWMET AEROSPACE 4.33% $193.65 -6.97%-11.86%-15.58%
HONA HONEYWELL AEROSPACE INC 3.96% $163.07 +0.38%-0.02%+2.91%
LHX L3HARRIS TECHNOLOGIES 3.62% $251.81 +1.72%+4.70%+5.78%
AXON AXON ENTERPRISE 2.49% $404.09 +0.37%-3.14%-9.19%
RKLB ROCKET LAB CORP 2.19% $51.13 -4.72%-7.45%-30.53%
ATI ATI 1.95% $159.44 -11.76%-15.78%-14.38%
WWD WOODWARD 1.49% $301.33 -7.33%-9.58%-7.53%
CRS CARPENTER TECHNOLOGY 1.44% $288.9 -21.53%-24.09%-27.93%
CW CURTISS WRIGHT 1.43% $473.19 -4.25%-5.64%-13.05%
HEI.A HEICO CLASS A 1.36% $226.22 +0.05%-2.21%-1.40%
FTAI FTAI AVIATION 1.27% $156.45 -4.32%-7.18%-10.36%
TXT TEXTRON INC 1.04% $77.64 +0.47%+3.31%+2.13%
HEI HEICO 0.97% $297.83 -0.16%-3.50%-2.77%
BWXT BWX TECHNOLOGIES INC 0.96% $127.5 -5.63%-7.07%-8.06%
HII HUNTINGTON INGALLS INDUSTRIES 0.84% $275.7 +0.64%+3.17%+3.65%
MOG.A MOOG INC CLASS A 0.81% $338.61 -7.81%-7.27%-11.53%
KTOS KRATOS DEFENSE AND SECURITY SOLUTI 0.57% $38.15 -1.54%-6.37%-18.87%
HXL HEXCEL 0.54% $79.62 -11.38%-11.40%-6.82%
SARO STANDARDAERO 0.37% $21.55 +0.47%+2.67%-2.84%
AVAV AEROVIRONMENT 0.35% $117.25 -0.22%-4.84%-26.05%
VSEC VSE CORP 0.34% $147.72 -3.87%-8.56%-18.13%
KRMN KARMAN HOLDINGS INC 0.34% $34.76 -1.46%+2.52%-0.47%
MRCY MERCURY SYSTEMS INC 0.33% $75.06 -0.58%-1.77%-9.76%
AIR AAR 0.31% $94.59 -5.07%-3.46%-21.54%
DRS LEONARDO DRS INC 0.21% $33.41 -1.56%-5.81%-11.12%
ACHR ARCHER AVIATION CLASS A 0.20% $3.84 -0.78%-10.07%-32.75%
ARXS ARXIS CLASS A 0.20% $49.37 -4.58%-8.25%-3.76%
DCO DUCOMMUN 0.18% $159.62 -5.32%-6.43%-8.56%
LOAR LOAR HOLDINGS 0.17% $62.89 -0.05%+0.24%-3.88%
VVX V2X 0.17% $72.19 +1.65%+5.23%-5.25%
ATRO ASTRONICS 0.17% $58.15 -5.94%-5.55%-15.91%
BETA BETA TECHNOLOGIES CLASS A 0.17% $18.55 -0.96%-1.33%-19.87%
RDW REDWIRE 0.16% $8.27 -3.45%-7.24%-28.75%
LUNR INTUITIVE MACHINES INC CLASS A 0.13% $10.45 -4.26%-9.72%-33.47%
FLY FIREFLY AEROSPACE 0.12% $17.19 -2.63%-3.59%-25.55%
VOYG VOYAGER TECHNOLOGIES CLASS A 0.10% $23.76 -3.10%-11.21%-23.60%
CDRE CADRE HOLDINGS 0.07% $29.12 +5.51%+12.35%+11.10%
NPK NATIONAL PRESTO INDUSTRIES INC 0.06% $148.4 -1.14%+0.71%+2.98%
RGR STURM RUGER 0.05% $45.84 -8.50%+6.75%+9.40%
SWBI SMITH WESSON BRANDS INC 0.05% $14.28 -5.43%+0.85%+1.42%
RCAT RED CAT HOLDINGS INC 0.05% $4.46 -2.51%-8.88%-34.34%
YSS YORK SPACE SYSTEMS INC 0.04% $6.08 +2.36%-0.33%-38.02%
SPCE VIRGIN GALACTIC HOLDINGS INC SHS C 0.03% $2.48 +1.84%-3.68%-22.34%