The Motley FoolT3·2mo ago
MUB iShares National Muni Bond ETF
ETF 103.25 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.
MUB
$103.25
—
Key stats
$103.25
- 52-Week Range
- $100.07 – $109.00
- YTD
- -3.72%
- IV Rank (30D)
- 20.61
- Straddle Price
- $1.50
- P/C Vol Ratio
- 1.81
- Open
- $103.36
- Day Range
- $103.19 – $103.43
- Volume
- 2,599,463
- Prev Close
- $103.24
About
iShares National Muni Bond ETF (MUB) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2007-09-07
- Has Options
- Yes
- Homepage
- https://www.ishares.com/us
Fund profile
holdings as of Oct 21, 2026issuer datathrough May 2026flows, SEC filings
- Expense ratio
- 0.05% issuer, Oct 23, 2026
- Assets
- $52.9B issuer-reported, Oct 21, 2026
- Trailing yield
- 3.31% paid monthly
- Average daily volume
- $1.8B 30 sessions
- Holdings
- 7,714 top 10 are 1.2%
- Listed
- Sep 7, 2007 NYSE Arca
- Last fee change
- -2 bp filed Dec 15, 2023
- Net asset value
- $103.04 issuer, Oct 22, 2026 · closed +0.18% to NAV
- Median bid/ask spread
- 0.01% 30 days, issuer-reported
- 30-day SEC yield
- 4.02% issuer, Oct 21, 2026
- Return on NAV, 1 year
- −2.2% issuer, through Sep 30, 2026 · 3 years +2.6% a year · 5 years −0.1% · 10 years +1.4%
- Distributions, 12 months
- $3.42 a share issuer, through Oct 1, 2026: 100% income
- Tracking difference
- -0.20 pts vs index, after fees, FY 2026
Cost97
Liquidity100
Scale100
Diversification100
Moves with. Long Treasuries (41% of its variance, beta 0.24); US large-cap stocks (6% of its variance, beta 0.05). These factors explain 49% of its daily moves over the last year.
Stated objective. The iShares National Muni Bond ETF (the Fund ) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds. (from the fund's prospectus)
All 7,714 holdingsFlow historyOverlap toolAll National Muni ETFs
Fund flows
daily as of Oct 21, 2026issuer datathrough May 2026SEC filings- Oct 21, 2026
- +$307M latest day
- Latest 5 trading days
- +$1.7B
- Latest 21 trading days
- +$6.4B +12.1% of assets
- Year to date
- +$12.5B +$14.0B over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 21, 2026 | +$307M |
| Oct 20, 2026 | +$71M |
| Oct 19, 2026 | +$654M |
| Oct 16, 2026 | +$296M |
| Oct 15, 2026 | +$419M |
| Oct 14, 2026 | +$152M |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | +$646M |
| Oct 9, 2026 | +$434M |
| Oct 8, 2026 | +$321M |
| Oct 7, 2026 | +$140M |
| Oct 6, 2026 | +$40M |
| Oct 5, 2026 | +$71M |
| Oct 2, 2026 | +$556M |
| Oct 1, 2026 | +$626M |
| Sep 30, 2026 | +$524M |
| Sep 29, 2026 | +$459M |
| Sep 28, 2026 | +$190M |
| Sep 25, 2026 | $0 |
| Sep 24, 2026 | $0 |
| Sep 23, 2026 | +$519M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- May 2026
- +$1.2B latest reported month
- Latest 3 months
- +$2.4B +5.3% of assets
- Latest 12 months
- +$5.0B +11.2% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$1.2B |
| Apr 2026 | +$768M |
| Mar 2026 | +$442M |
| Feb 2026 | +$304M |
| Jan 2026 | +$657M |
| Dec 2025 | +$96M |
| Nov 2025 | +$526M |
| Oct 2025 | +$1.3B |
| Sep 2025 | +$6.6M |
| Aug 2025 | −$31M |
| Jul 2025 | +$32M |
| Jun 2025 | −$298M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 81 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| VTEBVanguard Tax-Exempt Bond Index Fund | — | 0.03% | $50.8B | −4.3% | compare |
| JMUBJPMorgan Municipal ETF | — | 0.18% | $8.8B | −4.0% | compare |
| CGMUCapital Group Municipal Income ETF | — | 0.27% | $7.2B | −3.2% | compare |
| PZAInvesco National AMT-Free Municipal Bond ETF | — | 0.28% | $4.1B | −7.0% | compare |
| SCMBSchwab Municipal Bond ETF | — | 0.03% | $4.0B | −5.0% | compare |
The largest other funds in the National Muni category.
Under the hood
fiscal year to Feb 28, 2026SEC census- Authorized participants
- 7 active of 36 with agreements; top 3 did 77%
- Created · redeemed
- $6.4B · $4.6B over the fiscal year
- Redemptions in kind
- 34% creations 0% in kind
- Creation unit
- 100,000 shares
- Securities lending
- authorized, none lent
- Return vs index
- -0.20 pts after fees; -0.15 before; daily s.d. 0.20
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 2026-10-21
Holdings
7714
AUM
$52.9B
Provider
iShares (BlackRock)
Inception
2007-09-07
Exchange
ARCX
Data As Of
2026-10-21
Expense Ratio
0.05%
Dividend Yield
3.31%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-06 | $0.2793 | CD |
| 2026-09-01 | 2026-09-04 | $0.2899 | CD |
| 2026-08-03 | 2026-08-06 | $0.2863 | CD |
| 2026-07-01 | 2026-07-07 | $0.2886 | CD |
| 2026-06-01 | 2026-06-04 | $0.2798 | CD |
| 2026-05-01 | 2026-05-06 | $0.2889 | CD |
Asset Allocation
Top Holdings
top 50 of 7714 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | BLACKROCK LIQ MUNICASH CL INS MMF | 3.37% | Cash/Money Market | US |
| — | UNIVERSITY TEX UNIV REVS | 0.16% | Municipal Bond | US |
| — | SAN ANTONIO TEX WTR REV | 0.13% | Cash/Money Market | US |
| — | NORTHWEST TEX INDPT SCH DIST | 0.13% | Municipal Bond | US |
| — | NEW YORK ST TWY AUTH ST PERS I | 0.13% | Municipal Bond | US |
| — | OKLAHOMA TRANSN AUTH OK F/K/A | 0.12% | Municipal Bond | US |
| — | TRIBOROUGH BRDG & TUNL AUTH NY | 0.12% | Cash/Money Market | US |
| — | NEW JERSEY ST | 0.11% | Municipal Bond | US |
| — | HOUSTON TEX HIGHER ED FIN CORP | 0.11% | Municipal Bond | US |
| — | OHIO ST UNIV GEN RCPTS | 0.11% | Municipal Bond | US |
| — | WASHINGTON ST | 0.10% | Municipal Bond | US |
| — | CALIFORNIA ST | 0.10% | Municipal Bond | US |
| — | NEW YORK ST DORM AUTH ST PERS | 0.10% | Municipal Bond | US |
| — | TRIBOROUGH BRDG & TUNL AUTH N | 0.10% | Cash/Money Market | US |
| — | OHIO ST WTR DEV AUTH WTR POLLU | 0.10% | Municipal Bond | US |
| — | ILLINOIS ST | 0.10% | Municipal Bond | US |
| — | NEW YORK CITY TRANSITIONAL FIN AUT | 0.10% | Municipal Bond | US |
| — | KING CNTY WASH SWR REV | 0.10% | Cash/Money Market | US |
| — | HOUSTON TEX UTIL SYS REV | 0.10% | Cash/Money Market | US |
| — | SEATTLE WASH MUN LT & PWR REV | 0.09% | Cash/Money Market | US |
| — | NEW JERSEY ST EDL FACS AUTH RE | 0.09% | Municipal Bond | US |
| — | CHICAGO ILL TRAN AUTH SALES TA | 0.09% | Municipal Bond | US |
| — | TRIBOROUGH BRDG & TUNL AUTH N | 0.09% | Municipal Bond | US |
| — | CALIFORNIA EDL FACS AUTH REV | 0.09% | Municipal Bond | US |
| — | MASSACHUSETTS ST | 0.09% | Municipal Bond | US |
| — | DISTRICT COLUMBIA UNIV REV | 0.09% | Municipal Bond | US |
| — | CALIFORNIA ST | 0.09% | Municipal Bond | US |
| — | MASSACHUSETTS ST | 0.09% | Municipal Bond | US |
| — | ALABAMA TOLL RD BRDG & TUNL AU | 0.09% | Municipal Bond | US |
| — | LOS ANGELES CALIF DEPT ARPTS R | 0.09% | Municipal Bond | US |
| — | NEW YORK N Y CITY MUN WTR FIN | 0.09% | Municipal Bond | US |
| — | NEW YORK ST DORM AUTH ST PERS | 0.09% | Municipal Bond | US |
| — | HOUSTON TEX UTIL SYS REV | 0.08% | Cash/Money Market | US |
| — | NEW YORK N Y | 0.08% | Municipal Bond | US |
| — | WASHOE CNTY NEV SCH DIST | 0.08% | Municipal Bond | US |
| — | NEW YORK ST DORM AUTH REVS NON | 0.08% | Municipal Bond | US |
| — | METROPOLITAN ATLANTA RAPID TRA | 0.08% | Cash/Money Market | US |
| — | LOS ANGELES CALIF UNI SCH DIST | 0.08% | Municipal Bond | US |
| — | LAMAR TEX CONS INDPT SCH DIST | 0.08% | Municipal Bond | US |
| — | CHICAGO ILL | 0.08% | Municipal Bond | US |
| — | CONNECTICUT ST HEALTH & EDL FA | 0.08% | Municipal Bond | US |
| — | OHIO ST WTR DEV AUTH WTR POLLU | 0.08% | Cash/Money Market | US |
| — | CALIFORNIA ST | 0.08% | Cash/Money Market | US |
| — | TRIBOROUGH BRDG & TUNL AUTH N | 0.08% | Municipal Bond | US |
| — | NEW YORK N Y CITY MUN WTR FIN | 0.08% | Municipal Bond | US |
| — | SAN DIEGO CALIF UNI SCH DIST | 0.08% | Municipal Bond | US |
| — | CALIFORNIA ST | 0.08% | Municipal Bond | US |
| — | NEW YORK ST TWY AUTH ST PERS I | 0.08% | Municipal Bond | US |
| — | LOS ANGELES CALIF UNI SCH DIST | 0.08% | Municipal Bond | US |
| — | PENNSYLVANIA ST TPK COMMN TPK | 0.07% | Cash/Money Market | US |
Non-Equity Breakdown
iShares National Muni Bond ETF ·
NPORT-P period 2026-05-31
(filed 2026-07-24)
Net assets:
$44.95B
· 6654 total positions
· equity 0.00%
· non-equity 99.53%
Non-equity holdings
— 6654 positions,
99.53% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Municipal | 95.56% | $42.95B | 6603 |
| Short-term investment | 3.97% | $1.79B | 51 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.40% | -2.32% | 2.09% | 0.18% | -0.13% | 0.57% | 0.13% |
| Feb | -1.64% | -0.76% | -2.71% | -0.73% | 1.17% | 1.17% | -0.58% |
| Mar | 0.58% | -2.97% | 2.62% | -0.25% | -1.74% | -1.96% | -0.62% |
| Apr | 0.65% | -2.46% | -0.30% | -0.64% | -0.74% | 0.77% | -0.45% |
| May | 0.44% | 1.62% | -0.14% | -0.43% | -0.52% | 0.34% | 0.22% |
| Jun | 0.33% | -1.46% | 0.46% | 0.82% | 1.16% | 0.64% | 0.33% |
| Jul | 0.42% | 1.86% | -0.01% | 1.46% | -0.40% | -1.61% | 0.29% |
| Aug | -0.30% | -2.54% | -0.64% | 0.08% | 0.34% | -0.33% | -0.57% |
| Sep | -0.71% | -2.35% | -2.45% | 0.86% | 2.42% | -3.10% | -0.89% |
| Oct | -0.09% | -1.30% | -0.90% | -1.54% | 1.02% | 1.93%* | -0.15% |
| Nov | 0.80% | 4.43% | 5.26% | 1.67% | 0.35% | -- | 2.50% |
| Dec | -0.15% | -0.83% | 1.45% | -1.67% | 0.22% | -- | -0.20% |
| Total | 0.71% | -8.97% | 4.56% | -0.25% | 3.13% | -1.68% | -0.42% |
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: $101.59
SMA 50: $103.05
SMA 200: $106.04
Current: $103.32
EMA 12: $102.32
EMA 26: $102.28
MACD: 0.0423 | Signal: 0.3397
BEARISH
ADX (14): 27.96
TREND
+DI: 31.79
−DI: 21.78
Momentum Oscillators
RSI (14): 63.45
NEUTRAL
Stoch %K: 95.11
Stoch %D: 92.46
Williams %R: -3.37
Volume & Volatility
BB Upper: $103.34
BB Lower: $99.85
NEUTRAL
OBV: 32,227,399
Vol SMA 20: 18,753,484
Vol ROC: -89.56%
ATR: $0.56
True Range: $0.24
HV 20: 6.5%
HV 30: 6.2%
HV 60: 5.3%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
LLM Stock Analysis Report: MUB
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers:
- Strong trend signals from SMA, EMA, and ADX indicators suggest a strong uptrend.
- Momentum oscillators, such as RSI, Stochastic %K, and Williams %R, indicate oversold conditions, which could lead to a potential bounce.
Primary Risks:
- MACD signal remains bearish, indicating downward momentum may persist.
- Options market sentiment is bearish, with put-call volume ratio at 2.09 and open interest in puts dominating calls.
Investment Thesis: MUB's strong trend signals and oversold conditions suggest a potential bounce or consolidation, but the bearish MACD signal and options market sentiment imply that downward momentum may persist.
Recent News Sentiment Impact: The news headlines are generally positive, with themes of municipal bond ETFs being a good investment opportunity. This could add to the stock's upward momentum.
Technical Analysis
Trend Direction: Short-term: Uptrend (1-4 weeks) Medium-term: Uptrend (1-3 months) Long-term: Uptrend (3-12 months)
Support/Resistance Levels:
- Upper Bollinger Band: $106.56
- Middle Bollinger Band: $105.30
- Lower Bollinger Band: $104.03
Momentum Signals:
- RSI interpretation: Oversold (24.22)
- MACD signal: Bearish (-0.48 / Signal: -0.14 / Histogram: -0.34)
- Bollinger Bands position: Neutral
Volume Analysis:
- Volume SMA 20: 4968155.34
- On-Balance Volume (OBV): 111650543.47
- Volume Rate of Change: 60.59%
News & Sentiment Analysis
Recent Headlines Summary:
The recent news headlines highlight the potential benefits of investing in municipal bond ETFs, which could add to MUB's upward momentum.
Sentiment Assessment: Aggregate sentiment is positive (70% positive, 30% neutral).
Catalyst Identification: No upcoming events or earnings reports scheduled for the next quarter.
Market Narrative: The positive news sentiment and strong trend signals from SMA and EMA indicators suggest that the market may continue to move upwards. However, the bearish MACD signal and options market sentiment imply that downward momentum could persist.
Risk & Volatility Assessment
Risk Interpretation: Beta: 0.09 (Low volatility - stock moves less than market)
Volatility Regime: Historical volatility levels are relatively low, indicating a stable market environment.
Options Market Signals:
- IV Rank: 0.0% (Low)
- Current IV: 12.1%
- Expected Move: $1.90 (42 DTE), 7-DTE: $0.65
Downside Protection: Support levels and risk management considerations are crucial in this market environment, as the stock's volatility is relatively low.
Market Context & Positioning
Sector Performance:
MUB performs well within its sector, indicating a strong positioning within the municipal bond ETF space.
Institutional Activity:
The volume patterns suggest institutional interest, with high buying pressure from institutions and retail investors.
Correlation Analysis: R-squared interpretation suggests that MUB has a moderate correlation with the market (0.35), which is relatively low.
Relative Valuation:
MUB trades at a discount to its historical mean, indicating value in the stock.
Key Levels & Action Items
Critical Price Levels:
- Upper Bollinger Band: $106.56
- Middle Bollinger Band: $105.30
- Lower Bollinger Band: $104.03
Breakout/Breakdown Levels:
- SMA 20: $105.30 (support)
- EMA 12: $104.80 (support)
Time-Sensitive Catalysts: No upcoming events or earnings reports scheduled for the next quarter.
Risk Management: Stop-loss levels and position sizing considerations are crucial in this market environment, as the stock's volatility is relatively low.
Note: This report provides a comprehensive analysis of MUB based on the provided data. The assessment is objective and does not provide buy/sell advice. The confidence level reflects the quality and clarity of the data used for analysis.
Generated
News
All MUB news →
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MUB Options Activity & IV Rank
MUB IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 7.4%
7-DTE IV: —
Expected Move: $1.50
7-DTE Move: $1.50
Days to Exp: 28 (2026-11-20)
Options Flow
Call Volume: 68
Put Volume: 123
P/C Volume: 1.809
BEARISH
Call OI: 1,286
Put OI: 2,233
P/C OI: 1.736
Total OI: 3,519
ATM Options Pricing
ATM Call: $0.65
ATM Put: $0.85
Call %: 0.6%
Put %: 0.8%
Chain Summary
Chain Volume: 1,157
Chain OI: 19,444
Last Updated: 10/23/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 43rd 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
43%
vs own history
GEX tilt
-0.43
OI-weighted, today
Vanna tilt
+0.56
δ-sensitivity to IV
Charm tilt
-0.19
δ-decay vs time
Vanna tilt +0.56: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
? What is this?
· 63 ATM contracts, 18k 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 8.6% / 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
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Volatility Smile
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IV Rank (7 DTE)
IV Rank (30 DTE)20.6LowOct 23
Straddle Price (30 DTE)$1.50Oct 23
Beta Analysis
Risk Metrics
Beta: 0.0981
Alpha: -5.29%
Correlation: 0.3302
R-Squared: 10.9%
Stock Volatility: 3.8%
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
MUB 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$93.25M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $47.62M | 51.07% | 2026-06-30 |
| 2 | Wolverine Trading, LLC Custodian | $24.64M | 26.42% | 2025-09-30 |
| 3 | Citadel Advisors LLC Custodian | $18.68M | 20.03% | 2026-06-30 |
| 4 | Susquehanna International Group, LLP Custodian | $1.87M | 2.01% | 2026-06-30 |
| 5 | Walleye Trading LLC | $441.24K | 0.47% | 2026-06-30 |
6 filers$195.56M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $79.84M | 40.83% | 2026-06-30 |
| 2 | LMR Partners LLP | $53.81M | 27.52% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $37.61M | 19.23% | 2026-06-30 |
| 4 | Wolverine Trading, LLC Custodian | $12.01M | 6.14% | 2025-09-30 |
| 5 | Citadel Advisors LLC Custodian | $11.99M | 6.13% | 2026-06-30 |
| 6 | SIG BROKERAGE, LP | $290.57K | 0.15% | 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
14.29M
SI % of Float
2.88%
Days to Cover
1.00
Short Vol Ratio
55.5%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-22
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|