Zacks Investment ResearchT3·12h ago
KIE State Street SPDR S&P Insurance ETF
ETF 64.44 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.
KIE
$64.44
—
Key stats
$64.44
After hours
$64.55
+0.17%
- 52-Week Range
- $53.45 – $66.53
- YTD
- +8.30%
- IV Rank (30D)
- 20.36
- Straddle Price
- $3.78
- P/C Vol Ratio
- 8.20
- Open
- $63.10
- Day Range
- $63.10 – $64.44
- Volume
- 2,340,980
- Prev Close
- $63.15
About
State Street SPDR S&P Insurance ETF (KIE) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2005-11-08
- Has Options
- Yes
- Homepage
- https://www.ssga.com/us/en/individual/etfs
Fund profile
holdings as of Oct 20, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.35% issuer, Oct 22, 2026
- Assets
- $537M issuer-reported, Oct 20, 2026
- Trailing yield
- 1.57% paid quarterly
- Average daily volume
- $68M 30 sessions
- Holdings
- 56 top 10 are 19.9%
- Listed
- Nov 8, 2005 NYSE Arca
- Net asset value
- $63.12 issuer, Oct 20, 2026 · closed +0.02% to NAV
- Median bid/ask spread
- 0.02% 30 days, issuer-reported
- 30-day SEC yield
- 1.20% issuer
- Tracking difference
- -0.38 pts vs index, after fees, FY 2026
Cost65
Liquidity94
Scale64
Diversification79
Moves with. Value over growth (28% of its variance, beta 0.72); Emerging markets over US (11% of its variance, beta -0.28). These factors explain 44% of its daily moves over the last year.
Stated objective. The State Street SPDR S&P Insurance ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of publicly traded companies in the insurance industry. (from the fund's prospectus)
All 56 holdingsFlow historySimilar fundsOverlap toolAll Financials ETFs
Fund flows
daily as of Oct 20, 2026issuer datathrough Jun 2026SEC filings- Oct 20, 2026
- +$6.3M latest day
- Latest 5 trading days
- −$18M
- Latest 21 trading days
- −$33M −6.2% of assets
- Year to date
- −$60M −$147M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 20, 2026 | +$6.3M |
| Oct 19, 2026 | −$19M |
| Oct 16, 2026 | +$6.3M |
| Oct 15, 2026 | −$9.3M |
| Oct 14, 2026 | −$3.0M |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | +$3.0M |
| Oct 9, 2026 | $0 |
| Oct 8, 2026 | +$3.0M |
| Oct 7, 2026 | $0 |
| Oct 6, 2026 | −$12M |
| Oct 5, 2026 | −$12M |
| Oct 2, 2026 | +$3.0M |
| Oct 1, 2026 | +$3.0M |
| Sep 30, 2026 | $0 |
| Sep 29, 2026 | −$15M |
| Sep 28, 2026 | −$3.0M |
| Sep 25, 2026 | +$9.0M |
| Sep 24, 2026 | +$12M |
| Sep 23, 2026 | +$6.0M |
| Sep 22, 2026 | −$12M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- −$38M latest reported month
- Latest 3 months
- −$6.6M −1.4% of assets
- Latest 12 months
- −$439M −95.9% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$38M |
| May 2026 | +$14M |
| Apr 2026 | +$17M |
| Mar 2026 | +$32M |
| Feb 2026 | −$77M |
| Jan 2026 | −$76M |
| Dec 2025 | −$81M |
| Nov 2025 | −$37M |
| Oct 2025 | −$35M |
| Sep 2025 | −$135M |
| Aug 2025 | −$11M |
| Jul 2025 | −$12M |
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 | |
|---|---|---|---|---|---|
| IAKiShares U.S. Insurance ETF | 47% | 0.37% | $448M | +15.5% | compare |
| KBWPInvesco KBW Property & Casualty Insurance ETF | 44% | 0.35% | $296M | +14.5% | compare |
| FXOFirst Trust Financials AlphaDEX Fund | 40% | 0.60% | $1.1B | +11.7% | compare |
| RSPFInvesco S&P 500 Equal Weight Financials ETF | 32% | 0.40% | $394M | +7.2% | compare |
| IYFiShares U.S. Financials ETF | 19% | 0.37% | $3.8B | +6.1% | 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
- +26.7% 72% under, 11% over · 98% covered
- Price / earnings
- 12.1 6% loss-making · 98% covered
- Price / book · sales
- 1.6 · 1.2 revenue growth +7.9%
- Above 200-day average
- 75% 74% above 50-day · by weight
- Short interest
- 4.7% of float, weighted · 4.2 days to cover
- Insider buying
- 4% of weight had net insider buying, 90 days; 51% net selling
- 13F holders
- +1.4% change in shares held by institutions, latest quarter
- Reporting earnings
- 35.5% of weight in 7 days; 83.6% in 14
Holdings reporting in the next 14 days · weighted implied move this week 2.71%
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 |
|---|---|---|---|---|
| Exit | GSHDGoosehead Insurance Inc | 1.79% | — | — |
| Increase | RLIRLI Corp | 1.75% | 1.96% | +15.0% |
| Decrease | STCStewart Information Services Corp | 1.81% | 1.65% | −10.2% |
| Increase | BROBrown & Brown Inc | 1.77% | 1.91% | +16.4% |
| Decrease | GLGlobe Life Inc | 1.83% | 1.97% | −11.2% |
| Decrease | PFGPrincipal Financial Group Inc | 1.90% | 1.77% | −17.3% |
| Increase | KNSLKinsale Capital Group Inc | 1.76% | 1.88% | +18.0% |
| Decrease | METMetLife Inc | 1.88% | 1.76% | −16.8% |
| Decrease | UNMUnum Group | 1.87% | 1.77% | −18.1% |
| Increase | Assured Guaranty Ltd | 1.79% | 1.89% | +13.6% |
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 Jun 30, 2026SEC census- Authorized participants
- 15 active of 41 with agreements; top 3 did 49%
- Created · redeemed
- $2.4B · $2.8B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 3.29% of assets on loan on average; earned 0.8 bp
- Return vs index
- -0.38 pts after fees; -0.02 before; daily s.d. 0.06
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
56
AUM
$536.6M
Provider
SPDR (State Street)
Inception
2005-11-08
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.35%
Dividend Yield
1.57%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.1841 | CD |
| 2026-06-22 | 2026-06-24 | $0.2145 | CD |
| 2026-03-23 | 2026-03-25 | $0.2774 | CD |
| 2025-12-22 | 2025-12-24 | $0.3157 | CD |
| 2025-09-22 | 2025-09-24 | $0.1695 | CD |
| 2025-06-23 | 2025-06-25 | $0.1640 | CD |
Asset Allocation
Top Holdings
top 50 of 56 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| BWIN | BALDWIN INSURANCE GROUP INC/ | 2.06% | Equity (US) | US |
| RNR | RENAISSANCERE HOLDINGS LTD | 2.00% | Equity (Foreign) | BM |
| SKWD | SKYWARD SPECIALTY INSURANCE | 1.99% | Equity (US) | US |
| KMPR | KEMPER CORP | 1.99% | Equity (US) | US |
| AIG | AMERICAN INTERNATIONAL GROUP | 1.99% | Equity (US) | US |
| RGA | REINSURANCE GROUP OF AMERICA | 1.98% | Equity (US) | US |
| RYAN | RYAN SPECIALTY HOLDINGS INC | 1.98% | Equity (US) | US |
| MRSH | MARSH + MCLENNAN COS | 1.97% | Equity (US) | US |
| WTM | WHITE MOUNTAINS INSURANCE GP | 1.96% | Equity (US) | US |
| TRV | TRAVELERS COS INC/THE | 1.96% | Equity (US) | US |
| EG | EVEREST GROUP LTD | 1.94% | Equity (Foreign) | BM |
| BRO | BROWN + BROWN INC | 1.94% | Equity (US) | US |
| AFG | AMERICAN FINANCIAL GROUP INC | 1.93% | Equity (US) | US |
| AJG | ARTHUR J GALLAGHER + CO | 1.93% | Equity (US) | US |
| OSCR | OSCAR HEALTH INC CLASS A | 1.93% | Equity (US) | US |
| CB | CHUBB LTD | 1.93% | Equity (Foreign) | CH |
| MET | METLIFE INC | 1.92% | Equity (US) | US |
| MKL | MARKEL GROUP INC | 1.92% | Equity (US) | US |
| PLMR | PALOMAR HOLDINGS INC | 1.92% | Equity (US) | US |
| ACGL | ARCH CAPITAL GROUP LTD | 1.92% | Equity (Foreign) | BM |
| SPNT | SIRIUSPOINT LTD | 1.91% | Equity (Foreign) | BM |
| AFL | AFLAC INC | 1.91% | Equity (US) | US |
| WRB | WR BERKLEY CORP | 1.90% | Equity (US) | US |
| MCY | MERCURY GENERAL CORP | 1.89% | Equity (US) | US |
| THG | HANOVER INSURANCE GROUP INC/ | 1.88% | Equity (US) | US |
| KNSL | KINSALE CAPITAL GROUP INC | 1.88% | Equity (US) | US |
| PGR | PROGRESSIVE CORP | 1.87% | Equity (US) | US |
| RLI | RLI CORP | 1.86% | Equity (US) | US |
| L | LOEWS CORP | 1.86% | Equity (US) | US |
| AXS | AXIS CAPITAL HOLDINGS LTD | 1.86% | Equity (Foreign) | BM |
| CINF | CINCINNATI FINANCIAL CORP | 1.85% | Equity (US) | US |
| WTW | WILLIS TOWERS WATSON PLC | 1.85% | Equity (Foreign) | IE |
| AIZ | ASSURANT INC | 1.84% | Equity (US) | US |
| ERIE | ERIE INDEMNITY COMPANY CL A | 1.83% | Equity (US) | US |
| UNM | UNUM GROUP | 1.83% | Equity (US) | US |
| CNO | CNO FINANCIAL GROUP INC | 1.82% | Equity (US) | US |
| GL | GLOBE LIFE INC | 1.82% | Equity (US) | US |
| HIG | HARTFORD INSURANCE GROUP INC | 1.82% | Equity (US) | US |
| SIGI | SELECTIVE INSURANCE GROUP | 1.80% | Equity (US) | US |
| PRI | PRIMERICA INC | 1.80% | Equity (US) | US |
| ALL | ALLSTATE CORP | 1.79% | Equity (US) | US |
| PRU | PRUDENTIAL FINANCIAL INC | 1.78% | Equity (US) | US |
| AON | AON PLC CLASS A | 1.77% | Equity (Foreign) | IE |
| ORI | OLD REPUBLIC INTL CORP | 1.77% | Equity (US) | US |
| AGO | ASSURED GUARANTY LTD | 1.76% | Equity (Foreign) | BM |
| PFG | PRINCIPAL FINANCIAL GROUP | 1.72% | Equity (US) | US |
| HMN | HORACE MANN EDUCATORS | 1.71% | Equity (US) | US |
| BHF | BRIGHTHOUSE FINANCIAL INC | 1.69% | Equity (US) | US |
| FAF | FIRST AMERICAN FINANCIAL | 1.69% | Equity (US) | US |
| LMND | LEMONADE INC | 1.68% | Equity (US) | US |
Geographic Breakdown
Non-Equity Breakdown
State Street(R) SPDR(R) S&P(R) Insurance ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-28)
Net assets:
$457M
· 57 total positions
· equity 99.82%
· non-equity 4.08%
Non-equity holdings
— 4 positions,
4.08% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 4.08% | $18.7M | 4 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -1.53% | -0.82% | 6.13% | 4.37% | 3.01% | -1.78% | 1.56% |
| Feb | 7.36% | -0.67% | -0.02% | 6.15% | 4.20% | -0.56% | 2.74% |
| Mar | 2.49% | 8.66% | -8.89% | 5.02% | 0.48% | -6.27% | 0.25% |
| Apr | 5.77% | -8.24% | 2.41% | -5.93% | -5.78% | 4.81% | -1.16% |
| May | 0.68% | 2.69% | -6.24% | 4.09% | 4.45% | -2.87% | 0.47% |
| Jun | -3.48% | -4.61% | 6.21% | -1.85% | 0.15% | 10.21% | 1.11% |
| Jul | -2.46% | -0.96% | 3.86% | 8.74% | -5.07% | 2.65% | 1.13% |
| Aug | 4.23% | 1.20% | 0.05% | 4.94% | 5.65% | -2.35% | 2.29% |
| Sep | -4.67% | -5.09% | -0.95% | 0.84% | 1.32% | -7.25% | -2.63% |
| Oct | 5.19% | 11.72% | 1.45% | -1.23% | -4.08% | 8.83%* | 3.65% |
| Nov | -6.14% | 3.30% | 4.96% | 11.02% | 7.14% | -- | 4.06% |
| Dec | 7.08% | -3.44% | -0.04% | -8.10% | 0.94% | -- | -0.71% |
| Total | 14.11% | 2.00% | 8.01% | 29.67% | 12.05% | 3.92% | 11.63% |
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: $60.73
SMA 50: $62.05
SMA 200: $59.50
Current: $64.44
EMA 12: $62.09
EMA 26: $61.62
MACD: 0.4757 | Signal: 0.5514
BEARISH
ADX (14): 26.06
TREND
+DI: 37.20
−DI: 14.28
Momentum Oscillators
RSI (14): 70.57
OVERBOUGHT
Stoch %K: 95.11
Stoch %D: 94.08
Williams %R: 0.00
Volume & Volatility
BB Upper: $63.92
BB Lower: $57.55
OVERBOUGHT
OBV: -7,487,113
Vol SMA 20: 1,059,576
Vol ROC: 93.16%
ATR: $0.88
True Range: $1.34
HV 20: 14.9%
HV 30: 15.4%
HV 60: 15.2%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
KIE (SPDR S&P Insurance ETF) - Comprehensive Analysis Report
Executive Summary
Overall Assessment: NEUTRAL | Confidence: 6/10
KIE is a low-volatility, passively-managed insurance sector ETF currently positioned at a critical inflection point. The fund exhibits contradictory signals: technical momentum is deteriorating (bearish MACD, elevated Stochastic readings suggesting overbought conditions), yet the portfolio fundamentals show relative strength (+28.6% vs fair value) with modest insider buying activity. The primary risk is the severe fund outflow trend (-95.9% of assets over 12 months, latest month -$38M), which indicates meaningful investor redemption pressure that could exacerbate any technical breakdown.
Investment Thesis: KIE's insurance holdings remain valued above fair value with manageable valuation (11.7x P/E), but deteriorating price momentum, extreme options bearishness (34.73 put/call ratio), and persistent fund redemptions create a "sell into strength" environment. Without a near-term positive catalyst, the fund is likely to test support levels in the $59-60 range.
Recent News Sentiment Impact: News headlines are predominantly neutral with one notable negative reference ("AI-Phobia Hammered These 4 Sectors" from Feb 2026), though most articles are dated 2024 or appear to be evergreen content. Limited recent catalyst visibility limits confidence in directional conviction.
Technical Analysis
Trend Direction
| Timeframe | Assessment | Notes | |-----------|-----------|-------| | Short-term (1-4 weeks) | BEARISH | Price $61.72 trades above SMA20 ($60.14) but below SMA50 ($62.14)—mixed. MACD is deeply bearish (-0.34 vs signal +0.33, histogram -0.67) signaling momentum failure. | | Medium-term (1-3 months) | NEUTRAL-TO-BEARISH | SMA50 and SMA200 convergence ($62.14 vs $59.43 = $2.71 spread) indicates flattening trend structure. Price oscillating between these levels suggests range-bound consolidation. | | Long-term (3-12 months) | NEUTRAL | 200-day MA at $59.43 provides a 3.8% support cushion, but lack of a clear breakout pattern prevents bullish conviction. |
Support/Resistance Levels
| Level | Type | Implication | |-------|------|-------------| | $62.14 | Resistance | SMA50—current price is below this; a break above would confirm short-term uptrend resumption. | | $61.90 | Resistance | Upper Bollinger Band—price trades at this band, indicating near-term overbought exhaustion risk. | | $60.14 | Support | SMA20—current price trades above, but this is the first dynamic support in a breakdown scenario. | | $59.43 | Support | SMA200—major long-term support; break below would signal a longer-term downtrend initiation. | | $58.37 | Support | Lower Bollinger Band—represents ~5.5% downside from current price; technical floor for mean reversion. |
Momentum Signals
RSI (14): 56.86 — NEUTRAL
- Reading sits in the middle of the neutral zone (30-70), indicating no overbought or oversold extremes. Suggests room for movement in either direction, but no capitulation or euphoria signals present.
MACD: BEARISH DIVERGENCE
- Main line (-0.34) is below signal line (0.33), with a negative histogram of -0.67. This is a classic bearish configuration indicating momentum is declining. No recent bullish crossover visible; the divergence suggests sellers remain in control on an intraday/weekly basis.
Stochastic Oscillators: OVERBOUGHT WARNING
- %K at 87.26 and %D at 81.91 are both in overbought territory (>80). This historically precedes pullbacks or consolidation, especially combined with a weak ADX reading.
- Williams %R at -15.51 further confirms overbought positioning (readings near -20 = extreme overbought).
Bollinger Bands: NEUTRAL WITH SQUEEZE RISK
- Width of 5.87 is moderate; price ($61.72) trades within 0.18 of the upper band ($61.90), suggesting upside is exhausted near-term.
- Band squeeze potential exists; a compression phase often precedes sharp directional moves.
Volume Analysis
Volume Rate of Change: -16.24% (BEARISH)
- Volume has declined 16.24% relative to the 20-day SMA (1,077,035), indicating weakening participation on rallies. This is a red flag—price strength without volume support is often temporary.
On-Balance Volume: -13.6B (BEARISH ACCUMULATION SIGNAL)
- Negative OBV indicates that sellers have dominated the fund over the analyzed period. OBV declining while price attempts to hold elevated levels is a classic divergence suggesting underlying weakness.
Institutional Interest Implication:
- The combination of volume decline (-16.24%) and negative OBV (-$13.6B) suggests institutional participation is waning, consistent with the severe fund outflow data (-95.9% annual redemptions). This points to structural headwinds rather than temporary profit-taking.
News & Sentiment Analysis
Recent Headlines Summary
| Date | Source | Headline | Sentiment | |------|--------|----------|-----------| | 2026-10-15 | Zacks | Should You Invest in KBWP? | NEUTRAL | | 2026-02-12 | Benzinga | AI-Phobia Hammered These 4 Sectors | NEGATIVE | | 2024-06-18 | Zacks | Should You Invest in KIE? | NEUTRAL | | 2024-05-14 | Zacks | KIE—Strong ETF Right Now? | NEUTRAL | | 2024-05-09 | Zacks | Insurance ETFs Post Q1 Earnings | NEUTRAL |
Key Themes:
- Evergreen Content Dominance: Most articles are performative "should you invest?" reviews rather than driven by company-specific catalysts, suggesting limited organic news flow.
- AI-Phobia Sector Hit (Feb 2026): The only recent negative headline references AI concerns hammering sectors. Insurance has AI exposure risks (disruption of underwriting models, claims adjudication), which may partially explain the $38M redemption in the latest month.
- Absence of Positive Catalysts: No M&A activity, no earnings beats, no regulatory tailwinds mentioned in headlines.
Sentiment Assessment
Aggregate News Sentiment: NEUTRAL-TO-NEGATIVE (5/10 bullish)
- Predominantly neutral retail content with one identifiable sector headwind (AI-related concerns).
- The lack of positive catalyst news combined with visible fund outflows suggests investor sentiment is more skeptical than headline sentiment indicates.
Catalyst Identification
Immediate (1-7 days):
- 20% of holdings report earnings within 7 days [as of 2026-10-13]. This provides near-term volatility risk but no directional certainty without guidance context.
Near-term (1-4 weeks):
- Rate environment commentary: Insurance earnings sensitivity to Fed policy; any hawkish rhetoric could pressure valuations.
- Catastrophe loss announcements: Q3/Q4 hurricane season typically drives insurance stock volatility; no specific events flagged in headlines.
Medium-term (1-3 months):
- Q3 2026 earnings season: Full portfolio earnings cycle could clarify valuation sustainability vs the +28.6% premium to fair value.
Market Narrative Alignment
Technical vs. News Signals DIVERGENCE:
- Technical Story: Overbought conditions (Stochastic 87.26), failing momentum (MACD bearish), volume decline, negative OBV = bears are winning the short-term battle.
- News/Fundamental Story: Insurance holdings trade at only +28.6% above fair value (reasonable premium), weighted P/E of 11.7 (attractive vs market), insider net buying +3.6% = fundamentals don't justify a sharp selloff yet.
- Conflict Resolution: The technical deterioration likely reflects fund redemption mechanics (forced selling by departing investors) rather than fundamental repricing. This creates a **tactical short-term risk with
Generated
News
All KIE news →
Zacks Investment ResearchT3·7d ago
BenzingaT3·8mo ago
Zacks Investment ResearchT3·28mo ago
Zacks Investment ResearchT3·29mo ago
Zacks Investment ResearchT3·29mo ago
Zacks Investment ResearchT3·29mo ago
Zacks Investment ResearchT3·30mo ago
Zacks Investment ResearchT3·30mo ago
Zacks Investment ResearchT3·31mo ago
Showing 1–10 of 50
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KIE Options Activity & IV Rank
KIE IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 22.4%
7-DTE IV: —
Expected Move: $3.78
7-DTE Move: $3.78
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 94
Put Volume: 771
P/C Volume: 8.202
BEARISH
Call OI: 97
Put OI: 805
P/C OI: 8.299
Total OI: 902
ATM Options Pricing
ATM Call: $1.80
ATM Put: $1.98
Call %: 2.8%
Put %: 3.1%
Chain Summary
Chain Volume: 6,569
Chain OI: 18,656
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 40th 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
40%
vs own history
GEX tilt
-0.71
OI-weighted, today
Vanna tilt
+0.85
δ-sensitivity to IV
Charm tilt
-0.88
δ-decay vs time
Vanna tilt +0.85: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.88: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 38 ATM contracts, 10k 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
No data
30 DTE / 10d
—
—
pts
EXTREME
ATM 25.8% / 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)20.4LowOct 22
Straddle Price (30 DTE)$3.78Oct 22
Beta Analysis
Risk Metrics
Beta: 0.0207
Alpha: 13.01%
Correlation: 0.0157
R-Squared: 0.0%
Stock Volatility: 16.8%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
KIE 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.
5 filers$12.44M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $8.95M | 71.95% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $1.31M | 10.54% | 2026-06-30 |
| 3 | Squarepoint Ops LLC | $1.21M | 9.71% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $512.32K | 4.12% | 2026-06-30 |
| 5 | CSS LLC/IL | $457.43K | 3.68% | 2026-06-30 |
11 filers$109.92M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Shaolin Capital Management LLC | $58.19M | 52.94% | 2026-06-30 |
| 2 | Flat Footed LLC | $24.60M | 22.38% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $8.45M | 7.69% | 2026-06-30 |
| 4 | Bayview Asset Management, LLC | $8.23M | 7.49% | 2026-06-30 |
| 5 | Jane Street Group, LLC Custodian | $4.15M | 3.77% | 2026-06-30 |
| 6 | Citadel Advisors LLC Custodian | $3.10M | 2.82% | 2026-06-30 |
| 7 | K2 PRINCIPAL FUND, L.P. | $1.52M | 1.39% | 2026-06-30 |
| 8 | TUDOR INVESTMENT CORP ET AL | $914.85K | 0.83% | 2026-06-30 |
| 9 | Wolverine Trading, LLC Custodian | $465.55K | 0.42% | 2025-09-30 |
| 10 | Belvedere Trading LLC | $292.75K | 0.27% | 2026-06-30 |
| 11 | Global Retirement Partners, LLC | $575 | <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
3.02M
SI % of Float
35.17%
Days to Cover
2.40
Short Vol Ratio
47.1%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
KIE Constituent Performance
Click any bar to view the full quote for that stock.
KIE Constituents (54 of 54)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| BWIN | BALDWIN INSURANCE GROUP INC/ | 2.05% | $31.89 | -0.09% | -0.13% | +0.16% |
| RNR | RENAISSANCERE HOLDINGS LTD | 2.00% | $362.59 | +2.12% | +5.36% | +9.74% |
| SKWD | SKYWARD SPECIALTY INSURANCE | 1.99% | $62.16 | +1.24% | +3.29% | +13.27% |
| KMPR | KEMPER CORP | 1.99% | $29.91 | +3.46% | +5.24% | +18.69% |
| AIG | AMERICAN INTERNATIONAL GROUP | 1.99% | $83.03 | +1.57% | +4.94% | +10.97% |
| RGA | REINSURANCE GROUP OF AMERICA | 1.98% | $272.05 | +1.07% | +3.03% | +10.86% |
| RYAN | RYAN SPECIALTY HOLDINGS INC | 1.98% | $44.49 | +5.28% | +11.11% | +21.09% |
| MRSH | MARSH + MCLENNAN COS | 1.97% | $199.27 | +4.57% | +6.82% | +17.27% |
| WTM | WHITE MOUNTAINS INSURANCE GP | 1.96% | $2247.52 | +1.70% | +4.84% | +10.75% |
| TRV | TRAVELERS COS INC/THE | 1.96% | $405.44 | +1.63% | +5.61% | +11.88% |
| EG | EVEREST GROUP LTD | 1.94% | $407.56 | +3.24% | +6.87% | +9.57% |
| BRO | BROWN + BROWN INC | 1.94% | $74.49 | +5.61% | +9.58% | +23.47% |
| AFG | AMERICAN FINANCIAL GROUP INC | 1.93% | $153.46 | +2.53% | +5.30% | +10.87% |
| AJG | ARTHUR J GALLAGHER + CO | 1.93% | $270.98 | +4.88% | +8.35% | +19.31% |
| OSCR | OSCAR HEALTH INC CLASS A | 1.93% | $33.32 | -0.39% | -0.45% | +15.41% |
| CB | CHUBB LTD | 1.93% | $363.95 | +2.54% | +3.16% | +8.69% |
| MET | METLIFE INC | 1.92% | $103.57 | +1.36% | +3.29% | +6.50% |
| MKL | MARKEL GROUP INC | 1.92% | $1905.39 | +1.79% | +4.43% | +9.81% |
| PLMR | PALOMAR HOLDINGS INC | 1.92% | $144.53 | +3.85% | +5.03% | +15.04% |
| ACGL | ARCH CAPITAL GROUP LTD | 1.92% | $102.69 | +2.40% | +3.40% | +8.07% |
| SPNT | SIRIUSPOINT LTD | 1.91% | $25.96 | +1.09% | +4.38% | +0.62% |
| AFL | AFLAC INC | 1.91% | $123.27 | +2.60% | +4.42% | +8.12% |
| WRB | WR BERKLEY CORP | 1.90% | $75.55 | +1.63% | +2.14% | +12.28% |
| MCY | MERCURY GENERAL CORP | 1.89% | $106.71 | +1.53% | +4.83% | +8.57% |
| THG | HANOVER INSURANCE GROUP INC/ | 1.88% | $239.59 | +3.30% | +4.89% | +9.94% |
| KNSL | KINSALE CAPITAL GROUP INC | 1.88% | $390.64 | +3.70% | +9.27% | +14.72% |
| PGR | PROGRESSIVE CORP | 1.87% | $229.62 | +3.74% | +7.42% | +13.58% |
| RLI | RLI CORP | 1.86% | $67.01 | +4.87% | +12.66% | +19.34% |
| L | LOEWS CORP | 1.86% | $113.68 | +1.75% | +4.49% | +8.19% |
| AXS | AXIS CAPITAL HOLDINGS LTD | 1.86% | $104.3 | +3.71% | +6.50% | +10.11% |
| CINF | CINCINNATI FINANCIAL CORP | 1.85% | $178.28 | +2.68% | +6.61% | +9.83% |
| WTW | WILLIS TOWERS WATSON PLC | 1.85% | $332.18 | +4.58% | +7.03% | +13.13% |
| AIZ | ASSURANT INC | 1.84% | $288.85 | +1.60% | +2.48% | +10.31% |
| ERIE | ERIE INDEMNITY COMPANY CL A | 1.83% | $256.8 | +5.19% | +7.59% | +17.28% |
| UNM | UNUM GROUP | 1.83% | $93.75 | +0.04% | +1.45% | +2.90% |
| CNO | CNO FINANCIAL GROUP INC | 1.82% | $55.5 | +0.16% | +1.69% | +3.70% |
| GL | GLOBE LIFE INC | 1.82% | $168.41 | -0.71% | +0.49% | +0.65% |
| HIG | HARTFORD INSURANCE GROUP INC | 1.82% | $139.45 | +2.67% | +5.00% | +10.95% |
| SIGI | SELECTIVE INSURANCE GROUP | 1.80% | $91.74 | +0.72% | +5.09% | +6.97% |
| PRI | PRIMERICA INC | 1.80% | $285.72 | +0.38% | +1.62% | +4.10% |
| ALL | ALLSTATE CORP | 1.79% | $259.1 | +3.21% | +8.14% | +14.06% |
| PRU | PRUDENTIAL FINANCIAL INC | 1.78% | $118.17 | +2.92% | +1.56% | -0.49% |
| AON | AON PLC CLASS A | 1.77% | $306.8 | +4.23% | +6.97% | +11.12% |
| ORI | OLD REPUBLIC INTL CORP | 1.77% | $40.08 | -0.12% | +3.65% | +5.64% |
| AGO | ASSURED GUARANTY LTD | 1.76% | $70.31 | +1.50% | +0.64% | +2.79% |
| PFG | PRINCIPAL FINANCIAL GROUP | 1.72% | $110.11 | +1.54% | +1.06% | -3.54% |
| HMN | HORACE MANN EDUCATORS | 1.71% | $47.37 | +2.20% | +3.02% | +3.25% |
| BHF | BRIGHTHOUSE FINANCIAL INC | 1.69% | $46.35 | -1.30% | -4.83% | -13.30% |
| FAF | FIRST AMERICAN FINANCIAL | 1.69% | $65.07 | -2.09% | +2.59% | -0.81% |
| LMND | LEMONADE INC | 1.68% | $45.41 | +0.29% | -0.98% | +0.29% |