ORR Militia Long/Short Equity ETF
ETF 38.65 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.
- 52-Week Range
- $31.33 – $39.80
- YTD
- +12.25%
- IV Rank (30D)
- 32.1
- Straddle Price
- $3.50
- P/C Vol Ratio
- 36.00
- Open
- $39.08
- Day Range
- $38.56 – $39.08
- Volume
- 22,120
- Prev Close
- $39.06
Militia Long/Short Equity ETF (ORR) ETF
No description available.
- Exchange
- XNAS
- Inception
- 2025-01-14
- Has Options
- Yes
- Expense ratio
- —
- Assets
- $367M SEC filing, May 29, 2026
- Trailing yield
- —
- Average daily volume
- $1.8M 30 sessions
- Holdings
- 164 top 10 are 62.2%
- Listed
- Jan 14, 2025 Nasdaq
Moves with. US large-cap stocks (37% of its variance, beta 0.74); Developed markets ex-US over US (20% of its variance, beta 0.66). These factors explain 54% of its daily moves over the last year.
Stated objective. The Militia Long/Short Equity ETF (the Fund) seeks capital appreciation. (from the fund's prospectus)
All 164 holdingsFlow historySimilar fundsOverlap toolAll Long/Short & Market Neutral ETFs
- May 2026
- −$20M latest reported month
- Latest 3 months
- −$71M −19.3% of assets
- Latest 12 months
- +$261M +71.0% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | −$20M |
| Apr 2026 | −$33M |
| Mar 2026 | −$17M |
| Feb 2026 | +$133M |
| Jan 2026 | +$110M |
| Dec 2025 | +$34M |
| Nov 2025 | +$5.5M |
| Oct 2025 | +$10.0M |
| Sep 2025 | +$6.3M |
| Aug 2025 | +$17M |
| Jul 2025 | +$12M |
| Jun 2025 | +$4.3M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 17 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BCGDBaron Global Durable Advantage ETF | 19% | 0.75% | $9.8M | — | compare |
| JHAIJanus Henderson Global Artificial Intelligence ETF | 17% | 0.59% | $29M | +21.8% | compare |
| WUGIAXS Esoterica NextG Economy ETF | 17% | 0.79% | $36M | −7.2% | compare |
| CNEQAlger Concentrated Equity ETF | 16% | 0.56% | $732M | +12.9% | compare |
| BCTKBaron Technology ETF | 16% | 0.75% | $205M | — | compare |
Ranked by how much of the two portfolios is the same securities.
- Insider buying
- 15% of weight had net insider buying, 90 days; 9% net selling
- Reporting earnings
- 17.7% of weight in 7 days; 25.9% in 14
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.
| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | GMBXFGrupo Mexico SAB de CV | — | 8.84% | — |
| Increase | Hikari Tsushin Inc | 6.39% | 9.43% | +68.4% |
| Decrease | SFMSprouts Farmers Market Inc | 4.98% | 2.12% | −64.8% |
| Decrease | Sumitomo Realty & Development Co Ltd | 0.87% | 0.15% | −77.3% |
| Decrease | Lasertec Corp | 1.89% | 1.23% | −48.4% |
| Exit | Yuasa Trading Co Ltd | 0.60% | — | — |
| Exit | Mitsui OSK Lines Ltd | 0.56% | — | — |
| New position | Yuasa Co Ltd | — | 0.42% | — |
| Decrease | Open House Group Co Ltd | 1.01% | 0.61% | −24.3% |
| Decrease | Central Japan Railway Co | 1.33% | 0.95% | −11.2% |
2 new, 4 exited, 2 increased and 71 decreased between the fund's two latest holdings reports; turnover 45.0%. Full holdings and history
- Authorized participants
- 5 active of 5 with agreements; top 3 did 93%
- Created · redeemed
- $142M · $13M over the fiscal year
- Redemptions in kind
- 96% creations 147% in kind
- Creation unit
- 10,000 shares
- Securities lending
- authorized, none lent
- 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.
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | 9.73% | Equity (common) | TW |
| — | Hikari Tsushin Inc | 9.43% | Equity (common) | JP |
| GMBXF | Grupo Mexico SAB de CV | 8.84% | Equity (common) | MX |
| ET | Energy Transfer LP | 6.58% | Equity (common) | US |
| GOOG | Alphabet Inc | 5.91% | Equity (common) | US |
| AMZN | Amazon.com Inc | 4.87% | Equity (common) | US |
| WES | Western Midstream Partners LP | 4.63% | Equity (common) | US |
| PAC | Grupo Aeroportuario del Pacifico SAB de CV | 4.31% | Equity (common) | MX |
| OMAB | Grupo Aeroportuario del Centro Norte SAB de CV | 4.13% | Equity (common) | MX |
| AX | Axos Financial Inc | 3.78% | Equity (common) | US |
| CSWC | Capital Southwest Corp | 3.51% | Equity (common) | US |
| MPLX | MPLX LP | 2.90% | Equity (common) | US |
| — | BNP Paribas SA | 2.89% | Equity (common) | FR |
| — | Corp America Airports SA | 2.76% | Equity (common) | LU |
| SFM | Sprouts Farmers Market Inc | 2.12% | Equity (common) | US |
| GMKKY | Gruma SAB de CV | 2.09% | Equity (common) | MX |
| TX | Ternium SA | 1.90% | Equity (common) | LU |
| AGM | Federal Agricultural Mortgage Corp | 1.81% | Equity (common) | US |
| — | C Uyemura & Co Ltd | 1.77% | Equity (common) | JP |
| ASR | Grupo Aeroportuario del Sureste SAB de CV | 1.66% | Equity (common) | MX |
| — | Hankyu Hanshin Holdings Inc | 1.40% | Equity (common) | JP |
| — | Nichias Corp | 1.39% | Equity (common) | JP |
| MEDP | Medpace Holdings Inc | 1.38% | Equity (common) | US |
| — | Sumitomo Corp | 1.34% | Equity (common) | JP |
| — | Mitsubishi Corp | 1.32% | Equity (common) | JP |
| MS | Morgan Stanley | 1.28% | Equity (common) | US |
| — | Lasertec Corp | 1.23% | Equity (common) | JP |
| — | Aena SME SA | 1.16% | Equity (common) | ES |
| — | First American Government Obligations Fund | 1.11% | Short-term investment | US |
| — | Wal-Mart de Mexico SAB de CV | 1.09% | Equity (common) | MX |
| — | Hanwa Co Ltd | 1.05% | Equity (common) | JP |
| — | Jungfraubahn Holding AG | 1.04% | Equity (common) | CH |
| — | Hulic Co Ltd | 1.00% | Equity (common) | JP |
| — | Central Japan Railway Co | 0.95% | Equity (common) | JP |
| CCS | Century Communities Inc | 0.95% | Equity (common) | US |
| — | Takeuchi Manufacturing Co Ltd | 0.94% | Equity (common) | JP |
| — | ITOCHU Corp | 0.93% | Equity (common) | JP |
| — | LVMH Moet Hennessy Louis Vuitton SE | 0.86% | Equity (common) | FR |
| — | PILLAR Corp /Japan | 0.85% | Equity (common) | JP |
| — | Japan Exchange Group Inc | 0.85% | Equity (common) | JP |
| — | Nojima Corp | 0.83% | Equity (common) | JP |
| PKBK | Parke Bancorp Inc | 0.78% | Equity (common) | US |
| — | JCU Corp | 0.77% | Equity (common) | JP |
| — | Mitsui & Co Ltd | 0.77% | Equity (common) | JP |
| — | SBI Holdings Inc | 0.76% | Equity (common) | JP |
| — | Nomura Holdings Inc | 0.76% | Equity (common) | JP |
| — | Sojitz Corp | 0.75% | Equity (common) | JP |
| — | Morinaga & Co Ltd/Japan | 0.69% | Equity (common) | JP |
| — | U-Next Holdings Co Ltd | 0.67% | Equity (common) | JP |
| — | Life Corp | 0.67% | Equity (common) | JP |
| Month | '25 | '26 | Avg |
|---|---|---|---|
| Jan | 3.34% | 5.95% | 4.64% |
| Feb | 0.45% | 7.10% | 3.77% |
| Mar | 2.62% | -5.08% | -1.23% |
| Apr | -1.55% | -2.44% | -2.00% |
| May | 2.73% | 0.36% | 1.54% |
| Jun | 2.85% | 2.22% | 2.54% |
| Jul | 4.20% | 6.48% | 5.34% |
| Aug | 1.97% | -0.56% | 0.70% |
| Sep | 0.95% | -1.96% | -0.51% |
| Oct | 1.24% | 3.76%* | 2.50% |
| Nov | 5.87% | -- | 5.87% |
| Dec | 1.93% | -- | 1.93% |
| Total | 29.85% | 16.11% | 22.98% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- 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.
- 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.
- 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
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: ORR
Executive Summary
Overall Assessment: NEUTRAL (confidence level 6/10)
Key Drivers:
- Technical indicators suggest a range-bound market with no clear trend
- Low volatility reduces the likelihood of large price movements
- Options market pricing suggests a moderate move by expiration, but without strong directional bias
Primary Risks:
- Earnings data not available, making it difficult to assess fundamental performance
- No recent news headlines provided, reducing insight into potential catalysts or sentiment shifts
Investment Thesis: ORR appears to be trading in a consolidation phase, with no clear indication of a trend shift. The low volatility and neutral options market suggest a relatively stable environment, but the absence of earnings data and recent news headlines creates uncertainty around the stock's fundamental performance.
Recent News Sentiment Impact: N/A (no recent news available)
Technical Analysis
Trend Direction:
- Short-term: NEUTRAL
- Medium-term: RANGE-BOUND
- Long-term: NEUTRAL
Support/Resistance Levels:
- Upper Bollinger Band: $39.26
- Middle Bollinger Band: $38.77
- Lower Bollinger Band: $38.27
- SMA 20: $38.77
- SMA 50: $38.24
- SMA 200: $36.67
Momentum Signals:
- RSI (14): 46.95 (neutral)
- MACD: Bullish histogram, suggesting upward momentum
- Stochastic %K and %D both below 30, indicating oversold conditions
Volume Analysis:
- Volume SMA 20: 36290.20
- On-Balance Volume (OBV): 4590766.73
- Volume Rate of Change: -52.10% (indicating declining volume)
News & Sentiment Analysis
- Recent Headlines Summary: No recent news available
- Sentiment Assessment: N/A (no recent news available)
- Catalyst Identification: Earnings data not available; no recent news headlines provided
- Market Narrative: The market appears to be trading in a consolidation phase, with no clear catalysts or sentiment shifts driving the price action.
Risk & Volatility Assessment
Beta Interpretation:
- Beta: 0.63 (relatively low volatility)
Volatility Regime:
- Historical Volatility: HV20 11.8%, HV30 11.1%, HV60 12.4%
- Current IV Premium vs HV30: 221.9% (positive = implied richer than realized)
Options Market Signals:
- IV Rank: 25.5% (Medium - shows if volatility is historically high/low)
- Current IV: 35.9%
- Expected Move: $1.23 (28 DTE), 7-DTE: $2.88
- Volume Flow: 4 calls vs 200 puts
- Open Interest: 37 calls vs 206 puts
- Put/Call Volume Ratio: 50.00 (Bearish sentiment)
- Put/Call OI Ratio: 5.57
Downside Protection:
- Support levels: Upper Bollinger Band, Middle Bollinger Band, Lower Bollinger Band
- Risk management considerations: The relatively low volatility and neutral options market suggest a stable environment, but the absence of earnings data and recent news headlines creates uncertainty around the stock's fundamental performance.
Market Context & Positioning
Sector Performance: Not provided (no sector-specific information)
Institutional Activity: Not provided (no institutional activity data available)
Correlation Analysis: Correlation: 0.57, indicating a relatively high correlation with the broader market
Relative Valuation: ORR appears to be trading at its historical average valuation relative to the market.
Key Levels & Action Items
- Critical Price Levels: Upper Bollinger Band ($39.26), Middle Bollinger Band ($38.77), Lower Bollinger Band ($38.27)
- Breakout/Breakdown Levels: SMA 20 ($38.77), SMA 50 ($38.24), SMA 200 ($36.67)
- Time-Sensitive Catalysts: Earnings data not available; no recent news headlines provided
- Risk Management: The relatively low volatility and neutral options market suggest a stable environment, but the absence of earnings data and recent news headlines creates uncertainty around the stock's fundamental performance.
Recommendations:
Given the lack of clear trend direction, volatility, or recent news headlines, ORR appears to be trading in a consolidation phase. As such, it may be wise to maintain a neutral stance or focus on managing risk through position sizing and stop-loss levels. Further analysis would require earnings data and recent news headlines to better understand the stock's fundamental performance and potential catalysts for future price movements.
ORR Options Activity & IV Rank
ORR IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Options Flow
ATM Options Pricing
Chain Summary
Each spread is ranked by a composite score built in three stages. Full documentation →
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.
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.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- 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.
Estimated net dealer gamma is at the 19th 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.
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.
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.
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.
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.
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.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Low volatility - stock moves less than market
ORR 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.
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $1.47M | 56.88% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $1.12M | 43.12% | 2026-06-30 |
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $1.27M | 100.00% | 2026-06-30 |
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.
- 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.
- 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.
- 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.
Click any bar to view the full quote for that stock.
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|