Zacks Investment ResearchT3·10d ago
IYZ iShares U.S. Telecommunications ETF
ETF 38.49 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.
IYZ
$38.49
—
Key stats
$38.49
After hours
$38.16
-0.86%
- 52-Week Range
- $31.06 – $46.07
- YTD
- +13.04%
- IV Rank (30D)
- 43.28
- Straddle Price
- $2.20
- P/C Vol Ratio
- 2.10
- Open
- $38.81
- Day Range
- $38.22 – $39.09
- Volume
- 698,366
- Prev Close
- $39.49
About
iShares U.S. Telecommunications ETF (IYZ) ETF
No description available.
- Exchange
- BATS
- Inception
- 2000-05-22
- Has Options
- Yes
- Homepage
- https://www.ishares.com/us
Fund profile
holdings as of Oct 20, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.37% issuer, Oct 22, 2026
- Assets
- $979M issuer-reported, Oct 20, 2026
- Trailing yield
- 1.70% paid quarterly
- Average daily volume
- $32M 30 sessions
- Holdings
- 26 top 10 are 71.4%
- Listed
- May 22, 2000 Cboe BZX
- Last fee change
- -2 bp filed Jul 22, 2025
- Net asset value
- $39.49 issuer, Oct 21, 2026 · closed +0.04% to NAV
- Median bid/ask spread
- 0.02% 30 days, issuer-reported
- 30-day SEC yield
- 1.34% issuer, Sep 30, 2026
- Return on NAV, 1 year
- +29.9% issuer, through Sep 30, 2026 · 3 years +27.2% a year · 5 years +7.1% · 10 years +5.0%
- Distributions, 12 months
- $0.67 a share issuer, through Sep 15, 2026: 100% income
- Tracking difference
- -0.81 pts vs index, after fees, FY 2026
Cost53
Liquidity84
Scale74
Diversification24
Moves with. US large-cap stocks (33% of its variance, beta 1.01); Emerging markets over US (6% of its variance, beta 0.21); Small caps over large (5% of its variance, beta 0.34). These factors explain 37% of its daily moves over the last year.
Stated objective. The iShares U.S. Telecommunications ETF (the Fund ) seeks to track the investment results of an index composed of U.S. equities in the telecommunications sector. (from the fund's prospectus)
All 26 holdingsFlow historySimilar fundsOverlap toolAll Communication Services ETFs
Fund flows
daily as of Oct 21, 2026issuer datathrough Jun 2026SEC filings- Oct 21, 2026
- +$5.9M latest day
- Latest 5 trading days
- −$1.9M
- Latest 21 trading days
- −$50M −5.1% of assets
- Year to date
- +$208M +$205M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 21, 2026 | +$5.9M |
| Oct 20, 2026 | $0 |
| Oct 19, 2026 | −$12M |
| Oct 16, 2026 | +$3.9M |
| Oct 15, 2026 | $0 |
| Oct 14, 2026 | +$4.1M |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | +$4.2M |
| Oct 9, 2026 | −$2.1M |
| Oct 8, 2026 | $0 |
| Oct 7, 2026 | $0 |
| Oct 6, 2026 | −$18M |
| Oct 5, 2026 | −$2.1M |
| Oct 2, 2026 | −$30M |
| Oct 1, 2026 | $0 |
| Sep 30, 2026 | $0 |
| Sep 29, 2026 | $0 |
| Sep 28, 2026 | $0 |
| Sep 25, 2026 | −$2.1M |
| Sep 24, 2026 | −$2.1M |
| Sep 23, 2026 | $0 |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$188M latest reported month
- Latest 3 months
- +$388M +31.2% of assets
- Latest 12 months
- +$541M +43.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$188M |
| May 2026 | +$84M |
| Apr 2026 | +$116M |
| Mar 2026 | +$31M |
| Feb 2026 | −$14M |
| Jan 2026 | +$5.0M |
| Dec 2025 | −$4.6M |
| Nov 2025 | +$28M |
| Oct 2025 | +$9.8M |
| Sep 2025 | −$30M |
| Aug 2025 | +$5.1M |
| Jul 2025 | +$122M |
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 | |
|---|---|---|---|---|---|
| XTLState Street SPDR S&P Telecom ETF | 47% | 0.35% | $478M | +27.1% | compare |
| RSPCInvesco Exchange-Traded Fund Trust Invesco S&P 500 Equal Weight Communication Services ETF | 24% | 0.40% | $54M | −11.1% | compare |
| UFOXETF Series Solutions Defiance Space and Connective Tech ETF | 23% | 0.30% | $833M | — | compare |
| FCOMFidelity MSCI Communication Services Index ETF | 21% | 0.08% | $1.6B | −0.3% | compare |
| VOXVanguard Communication Services ETF | 20% | 0.09% | $5.9B | −0.0% | 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
- +9.2% 60% under, 13% over · 100% covered
- Price / earnings
- 86.9 19% loss-making · 94% covered
- Price / book · sales
- 2.9 · 2.2 revenue growth +12.8%
- Above 200-day average
- 55% 20% above 50-day · by weight
- Short interest
- 4.9% of float, weighted · 3.1 days to cover
- Insider buying
- 0% of weight had net insider buying, 90 days; 74% net selling
- 13F holders
- +0.1% change in shares held by institutions, latest quarter
- Reporting earnings
- 18.0% of weight in 7 days; 54.1% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.96%
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| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Decrease | TAT&T INC. | 12.84% | 4.16% | −41.8% |
| Increase | ANETARISTA NETWORKS, INC. | 3.98% | 11.01% | +156.0% |
| New position | SPCXSPACE EXPLORATION TECHNOLOGIES CORP. | — | 3.38% | — |
| Exit | GLIBKGCI LIBERTY, INC. | 3.03% | — | — |
| Increase | VZVERIZON COMMUNICATIONS INC. | 13.44% | 10.97% | +24.0% |
| New position | VIAVVIAVI SOLUTIONS INC. | — | 2.47% | — |
| New position | GSATGLOBALSTAR, INC. | — | 2.46% | — |
| New position | ECHOECHOSTAR CORPORATION | — | 2.34% | — |
| New position | AAOIAPPLIED OPTOELECTRONICS, INC. | — | 2.25% | — |
| Increase | UIUBIQUITI INC. | 3.46% | 2.27% | +24.5% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.4%. Full holdings and history
Under the hood
fiscal year to Mar 31, 2026SEC census- Authorized participants
- 7 active of 36 with agreements; top 3 did 83%
- Created · redeemed
- $2.5B · −$2.3B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 6.27% of assets on loan on average; earned 2.0 bp
- Return vs index
- -0.81 pts after fees; -0.53 before; daily s.d. 0.12
- 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
26
AUM
$979.4M
Provider
iShares (BlackRock)
Inception
2000-05-22
Exchange
BATS
Data As Of
2026-10-20
Expense Ratio
0.37%
Dividend Yield
1.70%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-15 | 2026-09-18 | $0.1779 | CD |
| 2026-06-15 | 2026-06-18 | $0.1538 | CD |
| 2026-03-17 | 2026-03-20 | $0.1485 | CD |
| 2025-12-16 | 2025-12-19 | $0.1919 | CD |
| 2025-09-16 | 2025-09-19 | $0.2083 | CD |
| 2025-06-16 | 2025-06-20 | $0.1222 | CD |
Asset Allocation
Top Holdings
top 26 of 26 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| CSCO | CISCO SYSTEMS INC | 23.55% | Equity (US) | US |
| ANET | ARISTA NETWORKS | 11.17% | Equity (US) | US |
| VZ | VERIZON COMMUNICATIONS INC | 10.98% | Equity (US) | US |
| T | AT&T | 4.50% | Equity (US) | US |
| SPCX | SPACE EXPLORATION TECHNOLOGIES COR | 3.89% | Equity (US) | US |
| MSI | MOTOROLA SOLUTIONS INC | 3.74% | Equity (US) | US |
| CMCSA | COMCAST CLASS A | 3.50% | Equity (US) | US |
| TMUS | T MOBILE US INC | 3.41% | Equity (US) | US |
| CIEN | CIENA | 3.40% | Equity (US) | US |
| UI | UBIQUITI | 3.27% | Equity (US) | US |
| ROKU | ROKU CLASS A | 3.12% | Equity (US) | US |
| LITE | LUMENTUM HOLDINGS | 3.09% | Equity (US) | US |
| GSAT | GLOBALSTAR VOTING | 2.90% | Equity (US) | US |
| ECHO | ECHOSTAR CLASS A | 2.78% | Equity (US) | US |
| IRDM | IRIDIUM COMMUNICATIONS | 2.65% | Equity (US) | US |
| VIAV | VIAVI SOLUTIONS | 2.57% | Equity (US) | US |
| TIGO | MILLICOM INTERNATIONAL CELLULAR | 2.46% | Equity (Foreign) | SE |
| CHTR | CHARTER COMMUNICATIONS CLASS A | 2.43% | Equity (US) | US |
| AAOI | APPLIED OPTOELECTRONICS | 2.05% | Equity (US) | US |
| ASTS | AST SPACEMOBILE CLASS A | 1.96% | Equity (US) | US |
| LBTYA | LIBERTY GLOBAL LTD CLASS A | 1.22% | Equity (US) | US |
| LBTYK | LIBERTY GLOBAL LTD CLASS C | 0.92% | Equity (US) | US |
| — | USD CASH | 0.35% | Cash/Money Market | US |
| — | BLK CSH FND TREASURY SL AGENCY | 0.05% | Cash/Money Market | US |
| — | CASH COLLATERAL USD SGAFT | 0.03% | Cash/Money Market | US |
| — | RUSSELL1000 VALUE MINI CME DEC 26 | 0.00% | Derivative | — |
Non-Equity Breakdown
iShares U.S. Telecommunications ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-24)
Net assets:
$1.24B
· 27 total positions
· equity 99.89%
· non-equity 8.78%
Non-equity holdings
— 3 positions,
8.78% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 8.78% | $109.3M | 2 |
| Derivative (equity) | -0.00% | $-3363 | 1 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 1.95% | -6.70% | 7.42% | 2.80% | 1.85% | 5.29% | 2.10% |
| Feb | -1.38% | -2.81% | -7.14% | -7.30% | 3.35% | 9.99% | -0.88% |
| Mar | 3.69% | 0.71% | 1.89% | -0.90% | -2.94% | -2.19% | 0.04% |
| Apr | 0.71% | -13.77% | -2.38% | -5.77% | -1.93% | 6.94% | -2.70% |
| May | 0.58% | 3.52% | -5.18% | 5.11% | 3.47% | 4.79% | 2.05% |
| Jun | 0.51% | -7.54% | 3.13% | 0.60% | 5.19% | -4.81% | -0.49% |
| Jul | 1.20% | 0.51% | 1.04% | 6.07% | 0.37% | -1.30% | 1.32% |
| Aug | 2.25% | -2.94% | 1.46% | 3.60% | 7.20% | 2.99% | 2.43% |
| Sep | -5.75% | -15.67% | -6.33% | 7.86% | 2.71% | -3.31% | -3.41% |
| Oct | -3.23% | 5.98% | -2.17% | 1.07% | 1.48% | -7.50%* | -0.73% |
| Nov | -4.42% | 3.12% | 4.29% | 7.10% | 0.58% | -- | 2.13% |
| Dec | 8.72% | -5.20% | 3.95% | -3.42% | 4.73% | -- | 1.76% |
| Total | 4.09% | -35.76% | -1.19% | 16.60% | 28.83% | 9.85% | 3.74% |
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: $41.26
SMA 50: $42.14
SMA 200: $40.82
Current: $38.51
EMA 12: $40.23
EMA 26: $41.10
MACD: -0.8674 | Signal: -0.3494
BEARISH
ADX (14): 27.98
TREND
+DI: 14.10
−DI: 44.25
Momentum Oscillators
RSI (14): 29.45
OVERSOLD
Stoch %K: 9.57
Stoch %D: 8.03
Williams %R: -95.14
Volume & Volatility
BB Upper: $44.45
BB Lower: $38.08
NEUTRAL
OBV: 83,563,195
Vol SMA 20: 694,782
Vol ROC: -9.75%
ATR: $0.80
True Range: $1.27
HV 20: 23.6%
HV 30: 22.6%
HV 60: 22.1%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
IYZ (iShares U.S. Telecommunications ETF) - Comprehensive Analysis
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
IYZ is displaying clear bearish technical signals amid sector headwinds, though the fund's defensive characteristics and positive long-term flows provide some cushion. The recent SpaceX spectrum deal news (10-12-2026) has triggered a telecommunications sector selloff, directly impacting this $1.0B passive telecom ETF. The fund is trading below all major moving averages with deteriorating momentum, but the bearish positioning in options markets may be overdone given the fund's underlying quality and 43.5% annual inflow trend.
Investment Thesis: IYZ faces near-term downside pressure from sector-wide spectrum competition concerns, with the fund's price ($39.73) now 5.4% below its 200-day MA ($40.70) and momentum turning negative. However, the 0.93 beta (defensive positioning) and strong institutional inflows (+$541M annually) suggest this weakness may represent a buying opportunity for longer-term positions, particularly if the sector stabilizes post-SpaceX announcement.
Technical Analysis
Trend Direction
- Short-term (1-4 weeks): BEARISH — Price below all major moving averages (SMA20: $41.92, SMA50: $42.60, EMA12: $41.70); MACD negative (-0.32) with bearish histogram (-0.09)
- Medium-term (1-3 months): BEARISH — Price $0.97 below 200-day MA ($40.70), indicating recent deterioration; ADX (20.28) shows weak trend strength, susceptible to reversal
- Long-term (3-12 months): NEUTRAL-TO-BULLISH — Price still near 200-day MA; the 43.5% annual inflow and position additions suggest underlying fund confidence
Support/Resistance Levels
| Level | Type | Significance | |-------|------|--------------| | $39.85 | Dynamic Support | Bollinger Band lower; immediate floor | | $39.73 | Current Price | Testing support | | $40.70 | Resistance | 200-day MA; psychological level | | $41.92 | Resistance | 20-day SMA; near-term resistance | | $42.60 | Resistance | 50-day SMA; medium-term resistance | | $43.98 | Resistance | Bollinger Band upper; overbought zone |
Key Observation: The fund is trading in the lower half of Bollinger Bands ($39.85 lower, $43.98 upper), indicating oversold conditions but with limited immediate downside.
Momentum Signals
RSI (14): 33.13 (Neutral-to-Oversold)
- Reading is below the 40 threshold, approaching oversold (<30), suggesting the selloff may be exhausting
- Typically signals potential for mean reversion or consolidation
- Not yet in extreme oversold territory, so further weakness remains possible
MACD: Bearish Configuration
- MACD line (-0.32) below signal line (-0.23), forming a bearish crossover
- Negative histogram (-0.09) and declining crossover indicate momentum deterioration
- This is a lagging indicator that confirms the recent downtrend but signals are weakening
Stochastic Oscillators: Extreme Oversold
- %K: 9.57 (extremely oversold; <20 is oversold territory)
- %D: 18.23 (also oversold)
- Williams %R: -91.77 (extreme reading indicating severe short-term oversold condition)
- Signal: These extreme readings suggest a bounce is likely within 1-5 trading days
Bollinger Bands: Oversold Squeeze
- Width: 9.86 (relatively narrow), indicating low volatility environment
- Price touching lower band ($39.85) with middle band at $41.92
- Signal explicitly "oversold" — mean reversion to middle band ($41.92) would represent +5.5% upside
Volume Analysis
- Volume SMA 20: 575,302 shares — baseline for current activity
- Volume Rate of Change: -60.75% — RED FLAG — dramatic volume decline suggests selling pressure is waning or capitulation occurring
- On-Balance Volume (OBV): 82.6M — accumulation/distribution line; needs comparison to price direction but declining volume on price weakness is typically bullish setup
- Interpretation: Low volume on downside suggests weak hands selling; institutional support likely (given +$541M annual inflows)
News & Sentiment Analysis
Recent Headlines Summary
| Date | Headline | Sentiment | Relevance | |------|----------|-----------|-----------| | 2026-10-12 | Telecom Stocks Tumble After SpaceX Spectrum Deal | NEGATIVE | DIRECT CATALYST — Triggered current selloff | | 2025-10-08 | AST SpaceMobile Verizon 5G Satellite Pact | Neutral | Positive for satellite telecom, neutral for traditional telecom holdings | | 2025-05-28 | Motorola Defense Tech Portfolio Expansion | Neutral | Positive for MSI (3.4% of fund), diversifies away pure telecom | | 2025-04-21 | Motorola AI for First Responders Launch | Neutral | Long-dated product cycle; not immediate catalyst | | 2025-03-11 | AT&T 2025 Targets & Debt Reduction (T: 4.2%) | Neutral | Positive fundamentals, but overshadowed by spectrum concerns | | 2025-02-04 | AT&T Nokia Cloud Platform Modernization | Neutral | Infrastructure upgrade; long-term positive |
Sentiment Assessment: NEGATIVE (Sector-Wide Headwind)
Aggregate Sentiment: -1 (Negative)
- Primary Driver: SpaceX spectrum deal announcement (2026-10-12) creates competitive concern for traditional telecom operators
- Timeline Alignment: The -60.75% volume decline and oversold technicals align precisely with this news date, confirming it as the catalyst
- Broader Context: The headline refers to "Telecom Stocks Tumble" and "ETFs in Focus," indicating sector-wide impact, not fund-specific
- Offsetting Factors: Older headlines (Feb-May 2025) show operational positives for holdings (AT&T debt reduction, Motorola growth), but these are now stale
Catalyst Identification
Immediate (1-7 days):
- Market repricing of spectrum competition risk from SpaceX/satellite model
- Potential stabilization if major holdings (CSCO, ANET, VZ, T) issue guidance/statements defending terrestrial telecom value
Near-term (1-4 weeks):
- Quarterly earnings reports (10% of fund weight reports within 7 days per look-through data)
- Earnings calls may address spectrum concerns and provide guidance on impact
- Potential analyst revisions on telecom capex/margin forecasts
Medium-term (1-3 months):
- Regulatory clarity on spectrum allocation/SpaceX licensing
- 5G/6G infrastructure buildout updates
- M&A activity (fund already saw SPCX, VIAV, GSAT added; GLIBK, GLIBA sold out in latest rebalance)
Market Narrative Analysis
Contradiction Alert: 🚨 News Sentiment vs. Technical Setup
| Signal | Status | Implication | |--------|--------|------------| | News Sentiment | Negative (SpaceX competition) | Justifies recent downside | | Technical Momentum | Extremely oversold (RSI 33, %K 9.57, %R -91.77) | Contradicts further downside | | Volume Decline | -60.75% rate of change | Suggests selling exhaustion | | Fund Flows | +$541M annually, +31.2% in last 3 months | Contradicts bearish narrative |
Narrative Interpretation: The SpaceX news is real and material for the sector, but the magnitude of the technical selloff (oversold readings) has likely overdiscounted near-term risk. The fund's strong inflows (indicating professional asset flows) and volume decline suggest institutional buyers may be stepping in on weakness.
Risk & Volatility Assessment
Beta Interpretation: 0.93 (Defensive Positioning)
What This Means:
- Beta <1.
Generated
News
All IYZ news →
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IYZ Options Activity & IV Rank
IYZ IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 24.8%
7-DTE IV: —
Expected Move: $2.20
7-DTE Move: $2.20
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 78
Put Volume: 164
P/C Volume: 2.103
BEARISH
Call OI: 1,564
Put OI: 67
P/C OI: 0.043
Total OI: 1,631
ATM Options Pricing
ATM Call: $1.48
ATM Put: $0.72
Call %: 3.8%
Put %: 1.9%
Chain Summary
Chain Volume: 439
Chain OI: 1,941
Last Updated: 10/22/2026
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 76th 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
76%
vs own history
GEX tilt
+0.77
OI-weighted, today
Vanna tilt
-0.18
δ-sensitivity to IV
Charm tilt
+0.07
δ-decay vs time
? What is this?
· 11 ATM contracts, 1k 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
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—
pts
EXTREME
No data
30 DTE / 10d
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—
pts
EXTREME
ATM 24.8% / Wing —
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
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)43.3MediumOct 22
Straddle Price (30 DTE)$2.20Oct 22
Beta Analysis
Risk Metrics
Beta: 0.9434
Alpha: 6.68%
Correlation: 0.5590
R-Squared: 31.2%
Stock Volatility: 21.5%
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
IYZ 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$10.29M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $4.57M | 44.45% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $2.93M | 28.45% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $2.79M | 27.10% | 2026-06-30 |
2 filers$7.19M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $5.90M | 82.11% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $1.29M | 17.89% | 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
415.85K
SI % of Float
1.67%
Days to Cover
1.00
Short Vol Ratio
38.0%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
IYZ Constituent Performance
Click any bar to view the full quote for that stock.
IYZ Constituents (22 of 22)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| CSCO | CISCO SYSTEMS INC | 23.55% | $104.89 | -2.21% | -4.52% | -1.94% |
| ANET | ARISTA NETWORKS | 11.17% | $171.07 | -7.19% | -7.82% | -16.84% |
| VZ | VERIZON COMMUNICATIONS INC | 10.98% | $45.2 | +3.76% | +1.80% | -4.48% |
| T | AT&T | 4.50% | $22.74 | +3.79% | -3.23% | -10.65% |
| SPCX | SPACE EXPLORATION TECHNOLOGIES COR | 3.89% | $144.75 | -9.14% | -2.60% | -2.22% |
| MSI | MOTOROLA SOLUTIONS INC | 3.74% | $477.81 | +2.21% | +4.69% | +5.03% |
| CMCSA | COMCAST CLASS A | 3.50% | $22.84 | +3.44% | +4.92% | +3.21% |
| TMUS | T MOBILE US INC | 3.41% | $158.79 | +3.28% | +1.12% | -3.97% |
| CIEN | CIENA | 3.40% | $322.64 | -10.71% | -9.50% | -9.99% |
| UI | UBIQUITI | 3.27% | $595.62 | -2.25% | -3.62% | +5.77% |
| ROKU | ROKU CLASS A | 3.12% | $160.06 | +1.45% | +3.48% | +4.39% |
| LITE | LUMENTUM HOLDINGS | 3.09% | $752.54 | -11.54% | -13.46% | -19.00% |
| GSAT | GLOBALSTAR VOTING | 2.90% | $82.38 | -1.25% | -0.71% | -0.10% |
| ECHO | ECHOSTAR CLASS A | 2.78% | $85.79 | -7.39% | -1.22% | -5.08% |
| IRDM | IRIDIUM COMMUNICATIONS | 2.65% | $43.79 | -1.04% | -2.67% | -10.43% |
| VIAV | VIAVI SOLUTIONS | 2.57% | $30.3 | -14.38% | -17.71% | -18.61% |
| TIGO | MILLICOM INTERNATIONAL CELLULAR | 2.46% | $79.93 | -2.11% | -2.61% | -12.16% |
| CHTR | CHARTER COMMUNICATIONS CLASS A | 2.43% | $111.77 | +4.20% | +1.62% | -4.92% |
| AAOI | APPLIED OPTOELECTRONICS | 2.05% | $68.07 | -11.96% | -18.70% | -32.62% |
| ASTS | AST SPACEMOBILE CLASS A | 1.96% | $38.77 | -5.21% | -12.80% | -36.51% |
| LBTYA | LIBERTY GLOBAL LTD CLASS A | 1.22% | $8.14 | +3.56% | +1.24% | -13.59% |
| LBTYK | LIBERTY GLOBAL LTD CLASS C | 0.92% | $8.02 | +4.16% | +1.78% | -13.11% |