Zacks Investment ResearchT3·2d ago
IWN iShares Russell 2000 Value ETF
ETF 213.00 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
IWN
$213.00
—
Key stats
$213.00
- 52-Week Range
- $168.75 – $227.86
- YTD
- +16.48%
- IV Rank (30D)
- 1.26
- Straddle Price
- $7.42
- P/C Vol Ratio
- 2.77
- Open
- $212.06
- Day Range
- $211.23 – $213.25
- Volume
- 896,014
- Prev Close
- $213.30
About
iShares Russell 2000 Value ETF (IWN) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2000-07-24
- Has Options
- Yes
- Homepage
- https://www.ishares.com/us
Fund profile
holdings as of Oct 22, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.24% issuer, Oct 24, 2026
- Assets
- $13.9B issuer-reported, Oct 22, 2026
- Trailing yield
- 1.53% paid quarterly
- Average daily volume
- $166M 30 sessions
- Holdings
- 1,411 top 10 are 5.4%
- Listed
- Jul 24, 2000 NYSE Arca
- Last fee change
- +1 bp filed Jul 20, 2023
- Net asset value
- $213.04 issuer, Oct 23, 2026 · closed -0.02% to NAV
- Median bid/ask spread
- 0.02% 30 days, issuer-reported
- 30-day SEC yield
- 1.87% issuer, Sep 30, 2026
- Return on NAV, 1 year
- +20.5% issuer, through Sep 30, 2026 · 3 years +17.6% a year · 5 years +7.5% · 10 years +9.2%
- Distributions, 12 months
- $3.25 a share issuer, through Sep 15, 2026: 100% income
- Tracking difference
- -0.24 pts vs index, after fees, FY 2026
Cost66
Liquidity100
Scale100
Diversification100
Moves with. US large-cap stocks (58% of its variance, beta 1.00); Small caps over large (42% of its variance, beta 0.83). These factors explain 94% of its daily moves over the last year.
Stated objective. The iShares Russell 2000 Value ETF (the Fund ) seeks to track the investment results of an index composed of small-capitalization U.S. equities that exhibit value characteristics. (from the fund's prospectus)
All 1,411 holdingsFlow historySimilar fundsOverlap toolAll Small Cap Value ETFs
Fund flows
daily as of Oct 23, 2026issuer datathrough Jun 2026SEC filings- Oct 23, 2026
- +$32M latest day
- Latest 5 trading days
- +$42M
- Latest 21 trading days
- −$95M −0.7% of assets
- Year to date
- −$435M −$235M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 23, 2026 | +$32M |
| Oct 22, 2026 | $0 |
| Oct 21, 2026 | $0 |
| Oct 20, 2026 | $0 |
| Oct 19, 2026 | +$10M |
| Oct 16, 2026 | −$10M |
| Oct 15, 2026 | $0 |
| Oct 14, 2026 | −$21M |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | −$74M |
| Oct 8, 2026 | $0 |
| Oct 7, 2026 | $0 |
| Oct 6, 2026 | +$32M |
| Oct 5, 2026 | −$64M |
| Oct 2, 2026 | −$53M |
| Oct 1, 2026 | +$21M |
| Sep 30, 2026 | $0 |
| Sep 29, 2026 | +$32M |
| Sep 28, 2026 | $0 |
| Sep 25, 2026 | $0 |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$11M latest reported month
- Latest 3 months
- −$5.6M −0.0% of assets
- Latest 12 months
- −$616M −4.2% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$11M |
| May 2026 | +$190M |
| Apr 2026 | −$207M |
| Mar 2026 | +$56M |
| Feb 2026 | +$239M |
| Jan 2026 | −$650M |
| Dec 2025 | +$484M |
| Nov 2025 | +$29M |
| Oct 2025 | −$534M |
| Sep 2025 | −$17M |
| Aug 2025 | +$102M |
| Jul 2025 | −$319M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| VTWVVanguard Russell 2000 Value ETF | 95% | 0.06% | $1.3B | +20.1% | compare |
| IWMiShares Russell 2000 ETF | 56% | 0.19% | $74.2B | +13.3% | compare |
| RSSLGlobal X Russell 2000 ETF | 56% | 0.08% | $1.4B | +12.9% | compare |
| AVSCAvantis U.S. Small Cap Equity ETF | 54% | 0.25% | $3.2B | +22.7% | compare |
| VTWOVanguard Russell 2000 ETF | 53% | 0.06% | $16.4B | +13.2% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 22, 2026issuer data- Holdings vs fair value
- +19.6% 59% under, 17% over · 96% covered
- Price / earnings
- 176.7 25% loss-making · 93% covered
- Price / book · sales
- 1.4 · 1.0 revenue growth +6.6%
- Above 200-day average
- 60% 51% above 50-day · by weight
- Short interest
- 9.6% of float, weighted · 5.7 days to cover
- Insider buying
- 9% of weight had net insider buying, 90 days; 45% net selling
- 13F holders
- +3.9% change in shares held by institutions, latest quarter
- Reporting earnings
- 23.9% of weight in 7 days; 68.4% in 14
Holdings reporting in the next 14 days · weighted implied move this week 2.66%
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 21, 2026 → Oct 22, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Increase | FBPFIRST BANCORP | 0.19% | 0.21% | +11.8% |
0 new, 0 exited, 1 increased and 0 decreased between the fund's two latest holdings reports; turnover 1.5%. Full holdings and history
Under the hood
fiscal year to Mar 31, 2026SEC census- Authorized participants
- 11 active of 36 with agreements; top 3 did 60%
- Created · redeemed
- $2.4B · $3.5B over the fiscal year
- Redemptions in kind
- 93% creations 93% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 6.94% of assets on loan on average; earned 8.5 bp
- Return vs index
- -0.24 pts after fees; +0.06 before; daily s.d. 0.27
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 2026-10-22
Holdings
1411
AUM
$13.9B
Provider
iShares (BlackRock)
Inception
2000-07-24
Exchange
ARCX
Data As Of
2026-10-22
Expense Ratio
0.24%
Dividend Yield
1.53%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-15 | 2026-09-18 | $0.8846 | CD |
| 2026-06-15 | 2026-06-18 | $0.7850 | CD |
| 2026-03-17 | 2026-03-20 | $0.5182 | CD |
| 2025-12-16 | 2025-12-19 | $1.0656 | CD |
| 2025-09-16 | 2025-09-19 | $0.8175 | CD |
| 2025-06-16 | 2025-06-20 | $0.6908 | CD |
Asset Allocation
Top Holdings
top 50 of 1411 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| UMBF | UMB FINANCIAL | 0.62% | Equity (US) | US |
| SM | SM ENERGY | 0.59% | Equity (US) | US |
| CTRE | CARETRUST REIT | 0.59% | Equity (US) | US |
| JXN | JACKSON FINANCIAL CLASS A | 0.57% | Equity (US) | US |
| PBF | PBF ENERGY CLASS A | 0.52% | Equity (US) | US |
| ONB | OLD NATIONAL BANCORP | 0.52% | Equity (US) | US |
| VSAT | VIASAT INC | 0.51% | Equity (US) | US |
| CYTK | CYTOKINETICS | 0.50% | Equity (US) | US |
| TRNO | TERRENO REALTY REIT | 0.47% | Equity (US) | US |
| MAC | MACERICH REIT | 0.47% | Equity (US) | US |
| MATX | MATSON INC | 0.46% | Equity (US) | US |
| SWX | SOUTHWEST GAS HOLDINGS | 0.45% | Equity (US) | US |
| UBSI | UNITED BANKSHARES | 0.45% | Equity (US) | US |
| TXNM | TXNM ENERGY INC | 0.43% | Equity (US) | US |
| LTH | LIFE TIME GROUP HOLDINGS | 0.41% | Equity (US) | US |
| BKH | BLACK HILLS CORP | 0.41% | Equity (US) | US |
| HWC | HANCOCK WHITNEY | 0.41% | Equity (US) | US |
| CMC | COMMERCIAL METALS | 0.40% | Equity (US) | US |
| TEX | TEREX | 0.40% | Equity (US) | US |
| RIG | TRANSOCEAN | 0.40% | Equity (US) | US |
| ESNT | ESSENT GROUP | 0.39% | Equity (US) | US |
| MUR | MURPHY OIL | 0.39% | Equity (US) | US |
| HOMB | HOME BANCSHARES INC | 0.39% | Equity (US) | US |
| JBTM | JBT MAREL | 0.39% | Equity (US) | US |
| EPRT | ESSENTIAL PROPERTIES REALTY TRUST | 0.39% | Equity (US) | US |
| AUB | ATLANTIC UNION BANKSHARES | 0.39% | Equity (US) | US |
| SSRM | SSR MINING | 0.38% | Equity (Foreign) | CA |
| IOVA | IOVANCE BIOTHERAPEUTICS INC | 0.38% | Equity (US) | US |
| SIGI | SELECTIVE INSURANCE GROUP | 0.37% | Equity (US) | US |
| GATX | GATX | 0.37% | Equity (US) | US |
| NJR | NEW JERSEY RESOURCES CORP | 0.37% | Equity (US) | US |
| — | BLK CSH FND TREASURY SL AGENCY | 0.37% | Cash/Money Market | US |
| ABCB | AMERIS BANCORP | 0.36% | Equity (US) | US |
| POR | PORTLAND GENERAL ELECTRIC | 0.36% | Equity (US) | US |
| MMED | MINIMED INC | 0.35% | Equity (US) | US |
| GRAL | GRAIL INC | 0.35% | Equity (US) | US |
| CNO | CNO FINANCIAL GROUP | 0.35% | Equity (US) | US |
| NSIT | INSIGHT ENTERPRISES INC | 0.35% | Equity (US) | US |
| CNX | CNX RESOURCES | 0.35% | Equity (US) | US |
| ACA | ARCOSA | 0.34% | Equity (US) | US |
| KRG | KITE REALTY GROUP TRUST REIT | 0.34% | Equity (US) | US |
| ORA | ORMAT TECH INC | 0.34% | Equity (US) | US |
| MMSI | MERIT MEDICAL SYSTEMS INC | 0.34% | Equity (US) | US |
| SR | SPIRE INC | 0.34% | Equity (US) | US |
| PECO | PHILLIPS EDISON AND COMPANY | 0.34% | Equity (US) | US |
| OGS | ONE GAS | 0.34% | Equity (US) | US |
| SBRA | SABRA HEALTH CARE REIT | 0.34% | Equity (US) | US |
| VLY | VALLEY NATIONAL | 0.34% | Equity (US) | US |
| ASB | ASSOCIATED BANCORP | 0.33% | Equity (US) | US |
| NWE | NORTHWESTERN ENERGY GROUP | 0.32% | Equity (US) | US |
Non-Equity Breakdown
iShares Russell 2000 Value ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-25)
Net assets:
$14.53B
· 1426 total positions
· equity 99.69%
· non-equity 5.20%
Non-equity holdings
— 10 positions,
5.20% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 5.20% | $755.0M | 3 |
| Derivative (equity) | 0.00% | $251644 | 2 |
| Other | 0.00% | $251920 | 5 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 6.46% | -6.98% | 10.00% | -4.31% | 2.17% | 6.02% | 2.23% |
| Feb | 7.10% | 0.61% | -3.43% | 2.33% | -2.48% | 0.85% | 0.83% |
| Mar | 1.66% | 3.58% | -7.60% | 3.06% | -4.27% | -4.70% | -1.38% |
| Apr | 0.66% | -8.54% | -2.40% | -5.11% | -4.08% | 8.91% | -1.76% |
| May | 1.85% | 1.60% | -1.63% | 4.04% | 3.60% | 2.71% | 2.03% |
| Jun | -2.77% | -10.07% | 6.35% | -1.74% | 4.68% | 3.98% | 0.07% |
| Jul | -4.46% | 8.06% | 6.52% | 13.44% | -0.41% | -0.36% | 3.80% |
| Aug | 3.29% | -3.11% | -4.46% | 1.09% | 10.80% | -1.18% | 1.07% |
| Sep | -2.71% | -10.12% | -7.14% | 2.23% | 2.11% | -4.77% | -3.40% |
| Oct | 1.98% | 9.95% | -4.28% | -0.01% | -0.24% | 1.16%* | 1.43% |
| Nov | -5.89% | 2.65% | 8.32% | 9.70% | 2.84% | -- | 3.52% |
| Dec | 5.56% | -6.83% | 8.24% | -9.01% | 0.10% | -- | -0.39% |
| Total | 12.38% | -19.84% | 6.29% | 14.54% | 14.81% | 12.42% | 6.77% |
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: $210.90
SMA 50: $216.89
SMA 200: $208.92
Current: $213.00
EMA 12: $211.26
EMA 26: $212.60
MACD: -1.3421 | Signal: 0.6824
BEARISH
ADX (14): 29.12
TREND
+DI: 21.51
−DI: 23.35
Momentum Oscillators
RSI (14): 50.81
NEUTRAL
Stoch %K: 75.96
Stoch %D: 61.45
Williams %R: -16.26
Volume & Volatility
BB Upper: $214.00
BB Lower: $207.79
NEUTRAL
OBV: 13,641,188
Vol SMA 20: 924,323
Vol ROC: -12.09%
ATR: $2.61
True Range: $2.07
HV 20: 13.0%
HV 30: 12.1%
HV 60: 11.5%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-25T00:00:00 – 2026-10-23T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers:
- Technical trend indicators suggest a range-bound market, with some upward momentum
- Recent news headlines have been positive, but not overwhelmingly so
- Options market sentiment indicates a moderate level of volatility and mixed expectations
Primary Risks:
- High volatility levels could lead to increased price swings
- Market sentiment may shift if earnings or economic data disappoints
Investment Thesis:
IWN's performance is influenced by its small-cap value ETF characteristics, which can be both a strength and weakness. The fund's beta suggests it moves with the market, but also amplifies its movements. While recent news has been positive, the overall sentiment is neutral. IWN may be suitable for investors seeking diversification within their portfolio or looking to hedge against broader market fluctuations.
Recent News Sentiment Impact:
The recent news headlines have a generally positive tone, highlighting IWN's benefits and comparing it favorably to other small-cap value ETFs. However, this sentiment is not overly bullish, as the market remains range-bound.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Neutral
- Medium-term (1-3 months): Uptrend
- Long-term (3-12 months): Uptrend
Support/Resistance Levels:
- Upper: $213.26
- Middle: $208.58
- Lower: $203.89
Momentum Signals:
- RSI interpretation: Neutral (60.40)
- MACD signal: Bullish (1.90 / Signal: -0.45 / Histogram: 2.35)
- Bollinger Bands position: Squeeze
Volume Analysis:
- Volume SMA 20: 703750.15
- On-Balance Volume (OBV): 17184788.61
- Volume Rate of Change: 31.34%
News & Sentiment Analysis
Recent Headlines Summary:
The recent news headlines highlight IWN's benefits and compare it favorably to other small-cap value ETFs.
Sentiment Assessment:
Aggregate news sentiment is positive, but not overly bullish.
Catalyst Identification:
Upcoming earnings or economic data releases could impact market sentiment and influence IWN's performance.
Market Narrative:
The market remains range-bound, with some upward momentum. The recent news headlines have a generally positive tone, highlighting IWN's benefits and comparing it favorably to other small-cap value ETFs.
Risk & Volatility Assessment
Risk & Volatility Regime:
Current vs historical volatility levels: Above average volatility - stock moves with market amplification
Options Market Signals:
- IV rank: 5.8% (Low)
- Current IV: 28.5%
- Expected Move: $9.75
- Volume Flow: 79 calls vs 60 puts
- Open Interest: 100 calls vs 720 puts
- Put/Call Volume Ratio: 0.76
- Market Expectation: Options market pricing $9.75 move by expiration
Downside Protection:
Support levels: $203.89, $208.58
Market Context & Positioning
Sector Performance:
Relative strength vs sector/market: Neutral to slightly positive
Institutional Activity:
Volume patterns suggesting institutional interest: None notable
Correlation Analysis:
How stock moves relative to market (R-squared interpretation): 0.76 - above average correlation with the broader market
Relative Valuation:
Position within trading range: Within the upper half of its historical range, but not significantly overbought or oversold.
Key Levels & Action Items
Critical Price Levels:
- Support: $203.89, $208.58
- Resistance: $213.26
Breakout/Breakdown Levels:
- Breakout level: $214.51 (Upper Bollinger Band)
- Breakdown level: $202.22 (Lower Bollinger Band)
Time-Sensitive Catalysts:
Earnings dates or product launches could impact market sentiment and influence IWN's performance.
Risk Management:
Stop-loss levels and position sizing considerations: Consider a stop-loss at $205.50 to limit potential losses, with a target price of $217.51. Position size should be adjusted based on individual risk tolerance and market conditions.
Generated
News
All IWN news →
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Showing 1–10 of 50
Page 1 of 5
IWN Options Activity & IV Rank
IWN IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 15.3%
7-DTE IV: —
Expected Move: $7.42
7-DTE Move: $7.42
Days to Exp: 28 (2026-11-20)
Options Flow
Call Volume: 137
Put Volume: 379
P/C Volume: 2.766
BEARISH
Call OI: 1,499
Put OI: 534
P/C OI: 0.356
Total OI: 2,033
ATM Options Pricing
ATM Call: $2.92
ATM Put: $4.50
Call %: 1.4%
Put %: 2.1%
Chain Summary
Chain Volume: 1,226
Chain OI: 3,250
Last Updated: 10/23/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 34th 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
34%
vs own history
GEX tilt
+0.18
OI-weighted, today
Vanna tilt
+0.55
δ-sensitivity to IV
Charm tilt
-0.57
δ-decay vs time
Vanna tilt +0.55: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.57: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 23 ATM contracts, 2k 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 Oct 23 · No data
30 DTE / 10d
96%
+15.2
pts
EXTREME
as of Oct 23 · ATM 15.2% / Wing 30.4%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
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Volatility Smile
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IV Rank (7 DTE)
IV Rank (30 DTE)1.3LowOct 23
Straddle Price (30 DTE)$7.42Oct 23
Beta Analysis
Risk Metrics
Beta: 0.8744
Alpha: 6.97%
Correlation: 0.7123
R-Squared: 50.7%
Stock Volatility: 15.7%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Moderate volatility - stock generally follows market
Beta & Alpha Over Time
IWN Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
3 filers$29.43M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $26.90M | 91.40% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $2.30M | 7.82% | 2026-06-30 |
| 3 | Wolverine Trading, LLC Custodian | $229.53K | 0.78% | 2025-09-30 |
5 filers$8.67M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $6.13M | 70.64% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $1.97M | 22.70% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $309.68K | 3.57% | 2026-06-30 |
| 4 | Wolverine Trading, LLC Custodian | $247.18K | 2.85% | 2025-09-30 |
| 5 | Apollon Wealth Management, LLC | $20.95K | 0.24% | 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
2.19M
SI % of Float
3.36%
Days to Cover
3.74
Short Vol Ratio
49.3%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-23
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
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