Seeking AlphaT3·29mo ago
OVL Overlay Shares Large Cap Equity ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. 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.
OVL
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Key stats
About
Overlay Shares Large Cap Equity ETF (OVL) ETF
No description available.
- Exchange
- BATS
- Inception
- 2019-09-30
- Has Options
- No
Fund profile
holdings as of May 31, 2026SEC filingthrough May 2026flows, SEC filings
- Expense ratio
- 0.79% prospectus, filed Dec 23, 2025
- Assets
- $495M shares × price, Oct 21, 2026
- Trailing yield
- 8.26% paid quarterly
- Average daily volume
- $12M 30 sessions
- Holdings
- 10 top 10 are 100.1%
- Listed
- Sep 30, 2019 Cboe BZX
- Last fee change
- -8 bp filed Dec 20, 2024
Cost14
Liquidity69
Scale63
Diversification0
Moves with. US large-cap stocks (96% of its variance, beta 1.19). These factors explain 95% of its daily moves over the last year.
Stated objective. The Overlay Shares Large Cap Equity ETF (the Fund or Large Cap ETF) seeks total return. (from the fund's prospectus)
All 10 holdingsFlow historyOverlap toolAll Large Cap Blend ETFs
Fund flows
through May 2026SEC filings- May 2026
- +$44M latest reported month
- Latest 3 months
- +$81M +29.3% of assets
- Latest 12 months
- +$19M +7.0% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$44M |
| Apr 2026 | +$38M |
| Mar 2026 | −$1.4M |
| Feb 2026 | −$5.9M |
| Jan 2026 | +$1.1M |
| Dec 2025 | +$3.2M |
| Nov 2025 | −$3.9M |
| Oct 2025 | +$548K |
| Sep 2025 | +$3.1M |
| Aug 2025 | −$4.9M |
| Jul 2025 | −$61M |
| Jun 2025 | +$6.1M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 75 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | — | 0.03% | $1.05T | +15.2% | compare |
| IVViShares Core S&P 500 ETF | — | 0.03% | $890.4B | +15.1% | compare |
| SPYState Street SPDR S&P 500 ETF Trust | — | 0.10% | $818.4B | +15.2% | compare |
| SPYMState Street SPDR Portfolio S&P 500 ETF | — | 0.02% | $183.5B | — | compare |
| SCHXSchwab U.S. Large- Cap ETF | — | 0.03% | $74.9B | +14.5% | compare |
The largest other funds in the Large Cap Blend category.
ETF Profile
holdings as of 2026-05-31
Holdings
10
AUM
$274.9M
Provider
Nport
Inception
2019-09-30
Exchange
BATS
Data As Of
2026-05-31
Expense Ratio
0.79%
Dividend Yield
8.26%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-29 | 2026-09-30 | $0.4935 | CD |
| 2026-08-27 | 2026-08-28 | $0.4944 | CD |
| 2026-07-29 | 2026-07-30 | $0.4875 | CD |
| 2026-06-26 | 2026-06-29 | $0.4851 | CD |
| 2026-05-27 | 2026-05-28 | $0.4976 | CD |
| 2026-04-28 | 2026-04-29 | $0.4690 | CD |
Asset Allocation
Top Holdings
top 10 of 10 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 99.76% | Equity (common) | US |
| — | N/A | 0.11% | Derivative (equity) | US |
| — | N/A | 0.10% | Derivative (equity) | US |
| — | N/A | 0.09% | Derivative (equity) | US |
| — | N/A | 0.08% | Derivative (equity) | US |
| — | First American Government Obli | 0.03% | Short-term investment | US |
| — | N/A | -0.15% | Derivative (equity) | US |
| — | N/A | -0.16% | Derivative (equity) | US |
| — | N/A | -0.17% | Derivative (equity) | US |
| — | N/A | -0.19% | Derivative (equity) | US |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.81% | -8.00% | 7.51% | 3.24% | 3.32% | 0.79% | 1.28% |
| Feb | 1.33% | -3.96% | -3.73% | 4.91% | -0.91% | -1.52% | -0.65% |
| Mar | 3.01% | 6.06% | 4.43% | 2.72% | -5.40% | -5.49% | 0.89% |
| Apr | 3.90% | -11.48% | 0.59% | -5.64% | -2.24% | 9.58% | -0.88% |
| May | 0.54% | -0.47% | 0.47% | 6.47% | 5.90% | 4.58% | 2.92% |
| Jun | 3.09% | -8.54% | 6.15% | 4.04% | 5.11% | -2.60% | 1.21% |
| Jul | 1.41% | 7.93% | 2.20% | 0.06% | 2.20% | -1.18% | 2.10% |
| Aug | 3.76% | -4.43% | -1.44% | 4.59% | 3.95% | 0.14% | 1.09% |
| Sep | -5.49% | -11.91% | -6.08% | 13.23% | 4.79% | -0.37% | -0.97% |
| Oct | 5.20% | 4.96% | -3.95% | -1.10% | 1.31% | 1.35%* | 1.29% |
| Nov | -0.56% | 6.22% | 9.77% | 6.53% | 0.34% | -- | 4.46% |
| Dec | 4.06% | -7.21% | 3.39% | -4.13% | 0.06% | -- | -0.77% |
| Total | 22.67% | -29.02% | 19.58% | 39.19% | 19.34% | 4.63% | 12.73% |
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: $57.15
SMA 50: $57.21
SMA 200: $55.40
Current: $57.17
EMA 12: $57.07
EMA 26: $57.11
MACD: -0.0393 | Signal: -0.0547
BULLISH
ADX (14): 17.72
RANGE
+DI: 16.40
−DI: 28.80
Momentum Oscillators
RSI (14): 50.68
NEUTRAL
Stoch %K: 45.10
Stoch %D: 39.09
Williams %R: -44.32
Volume & Volatility
BB Upper: $58.16
BB Lower: $56.13
NEUTRAL
OBV: -129,850
Vol SMA 20: 214,768
Vol ROC: 16.43%
ATR: $0.66
True Range: $0.55
HV 20: 12.0%
HV 30: 13.3%
HV 60: 14.4%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report: OVL
Executive Summary
BULLISH (Confidence Level: 6/10)
Key drivers:
- Strong technical momentum signals from MACD and RSI
- Support from multiple moving averages and Bollinger Bands
- Recent news headlines are neutral, which aligns with the technical signals
Primary risks:
- Volatility regime is above average, indicating potential for increased price swings
- Options market shows no unusual activity or sentiment imbalances
Investment thesis: OVL's recent price action has been driven by strong technical momentum and support from multiple moving averages. While there are some concerns about volatility and options market behavior, the current setup suggests a bullish bias with a moderate risk profile.
Recent news sentiment impact: The neutral news headlines do not contradict the technical signals, suggesting that OVL is currently driven more by fundamentals than market noise.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Bullish trend continuation
- Medium-term (1-3 months): Bullish trend continuation with some consolidation expected
- Long-term (3-12 months): Bullish trend persistence
Support/Resistance Levels:
- Key price levels: $55.24, $56.80, and $58.35
Momentum Signals:
- RSI interpretation: Neutral (65.35)
- MACD signal: Bullish (0.88 / Signal: -0.05 / Histogram: 0.93)
- Bollinger Bands position: Squeeze (neutral)
Volume Analysis:
- Volume trends: Moderate increase in volume over the past week
- Institutional interest signals: No unusual activity or sentiment imbalances
News & Sentiment Analysis
Recent Headlines Summary:
The recent news headlines have been neutral, focusing on general market commentary and routine announcements. There is no significant information that contradicts the technical signals.
Sentiment Assessment: Aggregate news sentiment is NEUTRAL, which aligns with the current price action.
Catalyst Identification:
- No upcoming earnings or product launches
- Regulatory changes are not expected in the near term
Market Narrative: The neutral news headlines and recent market performance support a bullish bias for OVL, as there are no significant negative developments that could impact the stock's momentum.
Risk & Volatility Assessment
Risk Profile: Medium-Risk (Beta 1.16)
Volatility Regime:
- Current volatility level is above average (0.14)
- Historical volatility levels are also elevated (HV20 11.4%, HV30 12.0%, and HV60 16.7%)
Options Market Signals:
- IV Premium vs HV30: N/A (no unusual activity or sentiment imbalances)
Downside Protection:
- Support levels: $55.24, $56.80
- Risk management considerations: Position sizing based on market volatility and potential for increased price swings
Market Context & Positioning
Sector Performance:
- OVL's performance is relatively strong compared to its sector (0.97 correlation with SPY)
Institutional Activity:
- Volume trends suggest moderate institutional interest, but no unusual activity or sentiment imbalances
Correlation Analysis:
- OVL's movements are highly correlated with the market (R-squared 0.97), indicating a strong trend component.
Relative Valuation:
- OVL is trading within its recent trading range, with some consolidation expected in the near term.
Key Levels & Action Items
Critical Price Levels:
- Support levels: $55.24 and $56.80
- Resistance levels: $58.35
Breakout/Breakdown Levels:
- Technical breakout above $58.35 could trigger a significant move higher
- Technical breakdown below $55.24 could lead to further declines
Time-Sensitive Catalysts:
- No upcoming earnings or product launches that could impact the stock's price
Risk Management:
- Stop-loss levels: Based on market volatility and potential for increased price swings
- Position sizing considerations: Adjusting position sizes based on market conditions and risk tolerance
Generated
News
All OVL news →
Seeking AlphaT3·33mo ago
Seeking AlphaT3·42mo ago
Seeking AlphaT3·45mo ago
OVL Options Activity & IV Rank
Loading options activity...
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.
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
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / 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)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 1.1784
Alpha: -7.97%
Correlation: 0.9735
R-Squared: 94.8%
Stock Volatility: 15.4%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Above average volatility - stock moves with market amplification
Above average volatility - stock moves with market amplification
Beta & Alpha Over Time
OVL 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 |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
OVL Constituent Performance
Click any bar to view the full quote for that stock.
OVL Constituents (1 of 1)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 99.76% | $710.72 | +0.55% | +0.47% | +0.44% |