Zacks Investment ResearchT3·28mo ago
LABU Direxion Daily S&P Biotech Bull 3X ETF
ETF 198.86 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.
LABU
$198.86
—
Key stats
$198.86
- 52-Week Range
- $108.90 – $341.93
- YTD
- +26.26%
- IV Rank (30D)
- 91.85
- Straddle Price
- $44.65
- P/C Vol Ratio
- 0.48
- Open
- $224.56
- Day Range
- $196.56 – $224.56
- Volume
- 478,082
- Prev Close
- $222.94
About
Direxion Daily S&P Biotech Bull 3X ETF (LABU) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2015-05-28
- Has Options
- Yes
Fund profile
holdings as of Oct 16, 2026issuer datathrough Jul 2026flows, SEC filings
Resets to 3x its benchmark's return each day. Over longer periods the result compounds and can differ sharply from 3x the benchmark, especially when it is volatile. Decay analysis
- Expense ratio
- —
- Assets
- $522M shares × price, Oct 16, 2026
- Trailing yield
- 0.46% paid quarterly
- Average daily volume
- $100M 30 sessions
- Holdings
- 173 top 10 are 231.2%
- Listed
- May 28, 2015 NYSE Arca
- Tracking difference
- -6.01 pts vs index, after fees, FY 2025
Costn/a
Liquidity100
Scale64
Diversificationn/a
Moves with. Small caps over large (17% of its variance, beta 2.95); Long Treasuries (7% of its variance, beta 1.97); Value over growth (7% of its variance, beta -1.34); US large-cap stocks (7% of its variance, beta 0.93). These factors explain 43% of its daily moves over the last year.
All 173 holdingsFlow historySimilar fundsOverlap toolAll Leveraged Equity ETFs
Fund flows
through Jul 2026SEC filings- Jul 2026
- −$40M latest reported month
- Latest 3 months
- −$198M −40.1% of assets
- Latest 12 months
- −$1.1B −227.2% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | −$40M |
| Jun 2026 | −$155M |
| May 2026 | −$3.4M |
| Apr 2026 | −$78M |
| Mar 2026 | +$12M |
| Feb 2026 | −$44M |
| Jan 2026 | −$200M |
| Dec 2025 | −$109M |
| Nov 2025 | −$127M |
| Oct 2025 | −$201M |
| Sep 2025 | −$102M |
| Aug 2025 | −$76M |
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 | |
|---|---|---|---|---|---|
| XBIState Street SPDR S&P Biotech ETF | 73% | 0.35% | $10.3B | +33.2% | compare |
| IBBiShares Biotechnology ETF | 38% | 0.44% | $10.5B | +31.7% | compare |
| IBBQInvesco Nasdaq Biotechnology ETF | 38% | 0.19% | $109M | +30.8% | compare |
| BBPVirtus Biotech ETF | 37% | 0.34% | $125M | +37.6% | compare |
| WDNAWisdomTree BioRevolution Fund | 29% | 0.45% | $4.5M | +25.4% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 16, 2026issuer data- Holdings vs fair value
- +10.9% 42% under, 19% over · 99% covered
- Price / earnings
- — 70% loss-making · 98% covered
- Price / book · sales
- 4.9 · 7.9 revenue growth +12.8%
- Above 200-day average
- 55% 28% above 50-day · by weight
- Short interest
- 15.3% of float, weighted · 7.0 days to cover
- Insider buying
- 4% of weight had net insider buying, 90 days; 58% net selling
- 13F holders
- +7.6% change in shares held by institutions, latest quarter
- Reporting earnings
- 0.6% of weight in 7 days; 19.8% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.06%
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
Jan 31, 2026 → Apr 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Increase | APLSApellis Pharmaceuticals Inc | 0.45% | 1.53% | +29.4% |
| Exit | FOLDAmicus Therapeutics Inc. | 0.81% | — | — |
| Increase | TVTXTravere Therapeutics Inc | 0.61% | 1.33% | +10.7% |
| Increase | SYRESpyre Therapeutics Inc | 0.20% | 0.88% | +31.0% |
| Exit | RNAMAvidity Biosciences Inc. | 0.68% | — | — |
| Exit | EXASExact Sciences Corporation | 0.68% | — | — |
| Increase | SMMTSummit Therapeutics Inc. | 0.48% | 1.15% | +10.6% |
| Increase | APGEApogee Therapeutics Inc. | 0.37% | 1.04% | +52.7% |
| Exit | ACLXArcellx Inc | 0.55% | — | — |
| Increase | MDGLMadrigal Pharmaceuticals Inc | 0.59% | 1.12% | +22.0% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 7.0%. Full holdings and history
Under the hood
fiscal year to Oct 31, 2025SEC census- Authorized participants
- 7 active of 7 with agreements; top 3 did 83%
- Created · redeemed
- $1.1B · $1.4B over the fiscal year
- Redemptions in kind
- 88% creations 88% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 3.91% of assets on loan on average; earned 5.3 bp
- Return vs index
- -6.01 pts after fees; -5.00 before
- 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 2026-10-16
Holdings
173
AUM
$1.9B
Provider
Direxion
Inception
2015-05-28
Exchange
ARCX
Data As Of
2026-10-16
Expense Ratio
—
Dividend Yield
0.46%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-23 | 2025-12-31 | $0.9097 | CD |
| 2025-09-23 | 2025-09-30 | $0.1027 | CD |
| 2025-06-24 | 2025-07-01 | $0.2190 | CD |
| 2025-03-25 | 2025-04-01 | $0.1071 | CD |
| 2024-06-25 | 2024-07-02 | $0.1502 | CD |
| 2024-03-19 | 2024-03-26 | $0.1606 | CD |
Asset Allocation
Top Holdings
top 50 of 173 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | SPSIBI SWAP ASSET LEG | 52.46% | Derivative | — |
| — | SPSIBI SWAP ASSET LEG | 47.78% | Derivative | — |
| — | SPSIBI SWAP ASSET LEG | 43.29% | Derivative | — |
| — | SPSIBI SWAP ASSET LEG | 37.94% | Derivative | — |
| — | SPSIBI SWAP ASSET LEG | 32.16% | Derivative | — |
| — | GOLDMAN FINL SQ TRSRY INST 506 | 15.71% | Cash/Money Market | — |
| — | SPSIBI SWAP ASSET LEG | 10.19% | Derivative | — |
| — | DREYFUS GOVT CASH MAN INS | 9.64% | Cash/Money Market | — |
| — | SPSIBI SWAP ASSET LEG | 2.83% | Derivative | — |
| MRNA | MODERNA INC | 1.93% | Equity (US) | US |
| NTRA | NATERA INC | 1.36% | Equity (US) | US |
| TWST | TWIST BIOSCIENCE CORP | 1.28% | Equity (US) | US |
| HALO | HALOZYME THERAPEUTICS INC | 1.25% | Equity (US) | US |
| ABBV | ABBVIE INC | 1.25% | Equity (US) | US |
| IOVA | IOVANCE BIOTHERAPEUTICS INC | 1.24% | Equity (US) | US |
| BIIB | BIOGEN INC | 1.24% | Equity (US) | US |
| AMGN | AMGEN INC | 1.23% | Equity (US) | US |
| GILD | GILEAD SCIENCES INC | 1.20% | Equity (US) | US |
| EXEL | EXELIXIS INC | 1.19% | Equity (US) | US |
| UTHR | UNITED THERAPEUTICS CORP | 1.18% | Equity (US) | US |
| TGTX | TG THERAPEUTICS INC | 1.14% | Equity (US) | US |
| REGN | REGENERON PHARMACEUTICALS | 1.09% | Equity (US) | US |
| VRTX | VERTEX PHARMACEUTICALS INC | 1.08% | Equity (US) | US |
| KRYS | KRYSTAL BIOTECH INC | 1.05% | Equity (US) | US |
| CRSP | CRISPR THERAPEUTICS AG | 1.05% | Equity (US) | US |
| PTGX | PROTAGONIST THERAPEUTICS INC | 1.04% | Equity (US) | US |
| SYRE | SPYRE THERAPEUTICS INC | 1.02% | Equity (US) | US |
| RVMD | REVOLUTION MEDICINES INC | 1.01% | Equity (US) | US |
| ALNY | ALNYLAM PHARMACEUTICALS INC | 1.01% | Equity (US) | US |
| PTCT | PTC THERAPEUTICS INC | 1.00% | Equity (US) | US |
| GRAL | GRAIL INC | 1.00% | Equity (US) | US |
| INCY | INCYTE CORP | 1.00% | Equity (US) | US |
| ALKS | ALKERMES PLC | 0.98% | Equity (Foreign) | IE |
| NBIX | NEUROCRINE BIOSCIENCES INC | 0.98% | Equity (US) | US |
| BBIO | BRIDGEBIO PHARMA INC | 0.98% | Equity (US) | US |
| PCVX | VAXCYTE INC | 0.97% | Equity (US) | US |
| BMRN | BIOMARIN PHARMACEUTICAL INC | 0.96% | Equity (US) | US |
| CYTK | CYTOKINETICS INC | 0.96% | Equity (US) | US |
| ERAS | ERASCA INC | 0.94% | Equity (US) | US |
| MDGL | MADRIGAL PHARMACEUTICALS INC | 0.93% | Equity (US) | US |
| ROIV | ROIVANT SCIENCES LTD | 0.90% | Equity (US) | US |
| ORKA | ORUKA THERAPEUTICS INC | 0.90% | Equity (US) | US |
| TVTX | TRAVERE THERAPEUTICS INC | 0.88% | Equity (US) | US |
| IBRX | IMMUNITYBIO INC | 0.88% | Equity (US) | US |
| IONS | IONIS PHARMACEUTICALS INC | 0.87% | Equity (US) | US |
| KYMR | KYMERA THERAPEUTICS INC | 0.87% | Equity (US) | US |
| COGT | COGENT BIOSCIENCES INC | 0.86% | Equity (US) | US |
| INSM | INSMED INC | 0.85% | Equity (US) | US |
| KOD | KODIAK SCIENCES INC | 0.85% | Equity (US) | US |
| PRAX | PRAXIS PRECISION MEDICINES I | 0.80% | Equity (US) | US |
Non-Equity Breakdown
Direxion Daily S&P Biotech Bull 3X Shares ·
NPORT-P period 2026-04-30
(filed 2026-06-29)
Net assets:
$519M
· 161 total positions
· equity 82.18%
· non-equity 24.10%
Non-equity holdings
— 11 positions,
24.10% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 16.38% | $85.0M | 4 |
| Derivative (equity) | 7.72% | $40.1M | 7 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 25.72% | -50.37% | 24.81% | -11.26% | 1.56% | 5.31% | -0.71% |
| Feb | -22.81% | -19.03% | -23.43% | 29.91% | -10.37% | -2.01% | -7.96% |
| Mar | -33.62% | -3.03% | -25.72% | -20.07% | -17.31% | -2.01% | -16.96% |
| Apr | -2.95% | -53.14% | 9.65% | -28.95% | 11.60% | 4.67% | -9.85% |
| May | -17.02% | -36.32% | 4.17% | 3.49% | -15.34% | 12.49% | -8.09% |
| Jun | 20.86% | 22.77% | -7.79% | 2.04% | 4.44% | 60.79% | 17.18% |
| Jul | -30.24% | 13.57% | 3.25% | 18.13% | 6.78% | -19.80% | -1.38% |
| Aug | 20.09% | 10.29% | -15.44% | 5.50% | 12.75% | 29.94% | 10.52% |
| Sep | -20.64% | -24.13% | -27.57% | -0.87% | 22.85% | -11.61% | -10.33% |
| Oct | -4.04% | 3.77% | -20.93% | -4.53% | 34.88% | -20.34%* | -1.86% |
| Nov | -28.42% | -1.31% | 34.03% | -1.71% | 37.81% | -- | 8.08% |
| Dec | -5.66% | -4.20% | 45.20% | -27.48% | 3.94% | -- | 2.36% |
| Total | -72.99% | -86.69% | -27.24% | -41.88% | 112.24% | 40.47% | -12.68% |
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: $243.18
SMA 50: $272.06
SMA 200: $212.97
Current: $198.86
EMA 12: $227.58
EMA 26: $244.24
MACD: -16.6655 | Signal: -3.3565
BEARISH
ADX (14): 19.28
RANGE
+DI: 16.37
−DI: 31.13
Momentum Oscillators
RSI (14): 35.11
NEUTRAL
Stoch %K: 13.01
Stoch %D: 13.30
Williams %R: -97.11
Volume & Volatility
BB Upper: $287.96
BB Lower: $198.41
NEUTRAL
OBV: 14,337,954
Vol SMA 20: 462,091
Vol ROC: 38.18%
ATR: $20.89
True Range: $28.00
HV 20: 98.9%
HV 30: 88.6%
HV 60: 90.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-18T00:00:00 – 2026-10-16T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Overall Assessment: BULLISH (Confidence Level: 8/10)
Key Drivers:
- Strong technical signals from MACD and RSI
- High beta indicates high volatility, aligning with market trends
- Bullish sentiment in options market
Primary Risks:
- Overbought conditions in RSI and Stochastic indicators
- Potential for mean reversion or correction if price momentum slows
Investment Thesis: LABU is likely to continue its upward trend due to strong technical signals and high beta, indicating a high degree of volatility. However, caution should be exercised due to overbought conditions, which may lead to a potential correction.
Recent News Sentiment Impact: The recent news headlines are mostly neutral, focusing on general market commentary and ETF performance. This lack of significant news impact is likely contributing to the stock's continued upward momentum.
Technical Analysis
Trend Direction:
- Short-term: Bullish (upward trend)
- Medium-term: Bullish (uptrend)
- Long-term: Bullish (long-term uptrend)
Support/Resistance Levels:
- Lower Bollinger Band: $125.96
- Middle Bollinger Band: $195.50
- Upper Bollinger Band: $265.05
Momentum Signals:
- RSI: 76.84 (overbought)
- MACD: Bullish signal line crossover
- Bollinger Bands: Overbought condition
Volume Analysis:
- Volume SMA 20: 699680.02
- On-Balance Volume (OBV): 26991068.59
- Volume Rate of Change: 17.09%
News & Sentiment Analysis
Recent Headlines Summary: The recent news headlines are mostly neutral, focusing on general market commentary and ETF performance.
Sentiment Assessment: Aggregate news sentiment is NEUTRAL, with no significant negative or positive news affecting the stock's price movement.
Catalyst Identification: No specific catalysts identified in recent news headlines.
Market Narrative: The lack of significant news impact is likely contributing to the stock's continued upward momentum.
Risk & Volatility Assessment
Beta Interpretation: High beta (3.17) indicates high volatility, aligning with market trends.
Volatility Regime: Current volatility level is higher than historical average.
Options Market Signals: IV Rank: 51.2% (Medium), Current IV: 99.5%, Expected Move: $57.70
Downside Protection: Support levels and risk management considerations should be implemented to mitigate potential downside risks.
Market Context & Positioning
Sector Performance: LABU is outperforming its sector/market, indicating a strong upward trend.
Institutional Activity: Volume patterns suggest institutional interest in the stock.
Correlation Analysis: The stock moves relatively strongly with market (R-squared interpretation).
Relative Valuation: Position within trading range, potentially indicating further upside potential.
Key Levels & Action Items
Critical Price Levels:
- Lower Bollinger Band: $125.96
- Middle Bollinger Band: $195.50
- Upper Bollinger Band: $265.05
Breakout/Breakdown Levels: No specific levels identified, but caution should be exercised due to overbought conditions.
Time-Sensitive Catalysts: No specific catalysts identified in recent news headlines.
Risk Management: Stop-loss levels and position sizing considerations should be implemented to mitigate potential downside risks.
Conclusion
LABU is likely to continue its upward trend due to strong technical signals and high beta, indicating a high degree of volatility. However, caution should be exercised due to overbought conditions, which may lead to a potential correction.
Generated
News
All LABU news →
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Showing 1–10 of 30
Page 1 of 3
LABU Options Activity & IV Rank
LABU IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 101.3%
7-DTE IV: 100.9%
Expected Move: $44.65
7-DTE Move: $22.35
Days to Exp: 28 (2026-11-13)
Options Flow
Call Volume: 218
Put Volume: 104
P/C Volume: 0.477
BULLISH
Call OI: 188
Put OI: 225
P/C OI: 1.197
Total OI: 413
ATM Options Pricing
ATM Call: $21.65
ATM Put: $23.00
Call %: 10.9%
Put %: 11.6%
Chain Summary
Chain Volume: 11,687
Chain OI: 27,320
Last Updated: 10/16/2026
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
LOW γ vs HISTORY
Estimated net dealer gamma is at the 3rd percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
3%
vs own history
GEX tilt
-0.56
OI-weighted, today
Vanna tilt
-0.20
δ-sensitivity to IV
Charm tilt
-0.11
δ-decay vs time
? What is this?
· 103 ATM contracts, 5k 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
29%
+6.7
pts
EXTREME
as of Oct 16 · ATM 103.5% / Wing 110.1%
30 DTE / 10d
17%
+5.5
pts
EXTREME
as of Oct 16 · ATM 102.4% / Wing 107.9%
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)67.3MediumOct 16
IV Rank (30 DTE)91.8HighOct 16
Straddle Price (30 DTE)$44.65Oct 16
Beta Analysis
Risk Metrics
Beta: 3.2187
Alpha: 41.51%
Correlation: 0.4761
R-Squared: 22.7%
Stock Volatility: 86.1%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
LABU 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$155.81M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $83.07M | 53.32% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $46.79M | 30.03% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $25.94M | 16.65% | 2026-06-30 |
4 filers$231.17M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $89.62M | 38.77% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $80.82M | 34.96% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $59.94M | 25.93% | 2026-06-30 |
| 4 | Walleye Trading LLC | $788.67K | 0.34% | 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
456.06K
SI % of Float
17.38%
Days to Cover
1.15
Short Vol Ratio
60.3%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-16
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
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