This potent exchange-traded fund has significantly outperformed the S&P 500 index.
QQQ Invesco QQQ Trust, Series 1
ETF 709.64 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.
QQQ
$709.64
—
Key stats
$709.64
- 52-Week Range
- $555.60 – $762.86
- YTD
- +15.74%
- IV Rank (30D)
- 48.93
- Straddle Price
- $36.19
- P/C Vol Ratio
- 1.61
- Open
- $725.52
- Day Range
- $707.23 – $725.96
- Volume
- 66,965,998
- Prev Close
- $728.00
About
Invesco QQQ Trust, Series 1 (QQQ) ETF
No description available.
- Exchange
- XNAS
- Inception
- 1999-03-10
- Has Options
- Yes
- Homepage
- https://www.invesco.com/us/etfs
Fund profile
holdings as of Oct 15, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.18% prospectus, filed Dec 19, 2025
- Assets
- $474.7B shares × price, Oct 16, 2026
- Trailing yield
- 0.44% paid quarterly
- Average daily volume
- $25.7B 30 sessions
- Holdings
- 105 top 10 are 46.9%
- Listed
- Mar 10, 1999 Nasdaq
Cost74
Liquidity100
Scale100
Diversification61
Moves with. US large-cap stocks (64% of its variance, beta 1.07); Value over growth (21% of its variance, beta -0.34); Emerging markets over US (10% of its variance, beta 0.21). These factors explain 94% of its daily moves over the last year.
Stated objective. The Invesco QQQ Trust SM , Series 1 (the Fund or Trust) seeks to track the investment results, before fees and expenses, of the Nasdaq-100 Index (the Underlying Index). (from the fund's prospectus)
All 105 holdingsFlow historySimilar fundsOverlap toolAll Large Cap Growth ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- −$6.8B latest reported month
- Latest 3 months
- +$10.8B +2.2% of assets
- Latest 12 months
- —
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$6.8B |
| May 2026 | +$7.2B |
| Apr 2026 | +$10.4B |
| Mar 2026 | −$4.5B |
| Feb 2026 | −$7.5B |
| Jan 2026 | −$731M |
| Dec 2025 | +$8.0B |
| Nov 2025 | −$1.1B |
| Oct 2025 | +$6.8B |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 9 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| QQQMInvesco NASDAQ 100 ETF | 99% | 0.15% | $106.2B | +17.9% | compare |
| QNDXState Street SPDR Portfolio Nasdaq 100 ETF | 99% | 0.10% | $528M | — | compare |
| IQQiShares Nasdaq 100 ETF | 98% | 0.10% | $700M | — | compare |
| QYLDGlobal X Funds Global X NASDAQ-100 Covered Call ETF | 98% | 0.60% | $8.3B | +6.8% | compare |
| QYLGGlobal X Nasdaq 100 Covered Call & Growth ETF | 98% | 0.35% | $175M | +0.2% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 15, 2026issuer data- Holdings vs fair value
- +1.2% 25% under, 34% over · 100% covered
- Price / earnings
- 32.3 5% loss-making · 96% covered
- Price / book · sales
- 8.9 · 6.3 revenue growth +16.9%
- Above 200-day average
- 71% 38% above 50-day · by weight
- Short interest
- 2.3% of float, weighted · 2.6 days to cover
- Insider buying
- 5% of weight had net insider buying, 90 days; 72% net selling
- 13F holders
- +2.9% change in shares held by institutions, latest quarter
- Reporting earnings
- 12.7% of weight in 7 days; 41.8% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.98%
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
Oct 8, 2026 → Oct 10, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | MRNAModerna Inc | — | 0.37% | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.8%. Full holdings and history
ETF Profile
holdings as of 2026-10-15
Holdings
106
AUM
$492.6B
Provider
Invesco
Inception
1999-03-10
Exchange
XNAS
Data As Of
2026-10-15
Expense Ratio
0.18%
Dividend Yield
0.44%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-10-08 | $0.7514 | CD |
| 2026-06-22 | 2026-07-10 | $0.8135 | CD |
| 2026-03-23 | 2026-03-27 | $0.7328 | CD |
| 2025-12-22 | 2025-12-31 | $0.7941 | CD |
| 2025-09-22 | 2025-10-31 | $0.6939 | CD |
| 2025-06-23 | 2025-07-31 | $0.5911 | CD |
Asset Allocation
Top Holdings
top 50 of 106 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| NVDA | NVIDIA Corp | 8.06% | Equity (US) | US |
| AAPL | Apple Inc | 7.69% | Equity (US) | US |
| MSFT | Microsoft Corp | 6.17% | Equity (US) | US |
| MU | Micron Technology Inc | 4.47% | Equity (US) | US |
| AMZN | Amazon.com Inc | 4.23% | Equity (US) | US |
| AMD | Advanced Micro Devices Inc | 3.90% | Equity (US) | US |
| META | Meta Platforms Inc | 3.37% | Equity (US) | US |
| GOOGL | Alphabet Inc | 3.16% | Equity (US) | US |
| GOOG | Alphabet Inc | 2.94% | Equity (US) | US |
| TSLA | Tesla Inc | 2.93% | Equity (US) | US |
| SPCX | Space Exploration Technologies Corp | 2.71% | Equity (US) | US |
| AVGO | Broadcom Inc | 2.52% | Equity (US) | US |
| WMT | Walmart Inc | 2.44% | Equity (US) | US |
| INTC | Intel Corp | 2.13% | Equity (US) | US |
| PLTR | Palantir Technologies Inc | 1.96% | Equity (US) | US |
| CSCO | Cisco Systems Inc | 1.85% | Equity (US) | US |
| COST | Costco Wholesale Corp | 1.84% | Equity (US) | US |
| LRCX | Lam Research Corp | 1.48% | Equity (US) | US |
| AMAT | Applied Materials Inc | 1.45% | Equity (US) | US |
| NFLX | Netflix Inc | 1.29% | Equity (US) | US |
| PANW | Palo Alto Networks Inc | 1.28% | Equity (US) | US |
| TXN | Texas Instruments Inc | 1.08% | Equity (US) | US |
| CRWD | Crowdstrike Holdings Inc | 1.06% | Equity (US) | US |
| AMGN | Amgen Inc | 1.00% | Equity (US) | US |
| KLAC | KLA Corp | 0.97% | Equity (US) | US |
| LIN | Linde PLC | 0.97% | Equity (Foreign) | IE |
| SHOP | Shopify Inc | 0.92% | Equity (Foreign) | CA |
| MRVL | Marvell Technology Inc | 0.90% | Equity (US) | US |
| SNDK | Sandisk Corp | 0.87% | Equity (US) | US |
| ADI | Analog Devices Inc | 0.83% | Equity (US) | US |
| GILD | Gilead Sciences Inc | 0.83% | Equity (US) | US |
| QCOM | QUALCOMM Inc | 0.80% | Equity (US) | US |
| PEP | PepsiCo Inc | 0.75% | Equity (US) | US |
| TMUS | T-Mobile US Inc | 0.72% | Equity (US) | US |
| STX | Seagate Technology Holdings PLC | 0.67% | Equity (Foreign) | IE |
| ASML | ASML Holding NV | 0.66% | Cash/Money Market | NL |
| ISRG | Intuitive Surgical Inc | 0.64% | Equity (US) | US |
| FTNT | Fortinet Inc | 0.57% | Equity (US) | US |
| VRTX | Vertex Pharmaceuticals Inc | 0.55% | Equity (US) | US |
| WDC | Western Digital Corp | 0.55% | Equity (US) | US |
| BKNG | Booking Holdings Inc | 0.53% | Equity (US) | US |
| ADP | Automatic Data Processing Inc | 0.48% | Equity (US) | US |
| SBUX | Starbucks Corp | 0.47% | Equity (US) | US |
| ARM | ARM Holdings PLC | 0.45% | Cash/Money Market | GB |
| MAR | Marriott International Inc/MD | 0.43% | Equity (US) | US |
| ADBE | Adobe Inc | 0.43% | Equity (US) | US |
| CEG | Constellation Energy Corp | 0.41% | Equity (US) | US |
| MRNA | Moderna Inc | 0.40% | Equity (US) | US |
| MELI | MercadoLibre Inc | 0.40% | Equity (US) | US |
| INTU | Intuit Inc | 0.39% | Equity (US) | US |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 1.70% | -9.62% | 11.40% | 3.57% | 2.36% | 1.43% | 1.81% |
| Feb | -2.57% | -5.12% | -2.45% | 4.06% | -1.92% | -3.01% | -1.83% |
| Mar | -1.38% | 6.16% | 10.21% | -0.36% | -5.66% | -5.08% | 0.65% |
| Apr | 4.13% | -13.43% | 0.75% | -4.58% | 0.59% | 14.28% | 0.29% |
| May | -0.67% | -3.20% | 8.01% | 6.92% | 7.77% | 9.52% | 4.72% |
| Jun | 6.49% | -8.41% | 4.95% | 5.73% | 5.43% | -0.85% | 2.22% |
| Jul | 2.82% | 11.81% | 3.62% | -2.25% | 3.29% | -5.41% | 2.31% |
| Aug | 4.21% | -5.08% | -1.25% | 3.61% | 2.98% | 2.38% | 1.14% |
| Sep | -5.94% | -10.73% | -5.12% | 5.69% | 6.14% | 4.54% | -0.90% |
| Oct | 7.20% | 1.62% | -2.88% | 0.54% | 4.28% | -4.34%* | 1.07% |
| Nov | 1.65% | 6.63% | 8.93% | 4.58% | -2.03% | -- | 3.95% |
| Dec | 2.77% | -9.34% | 5.02% | -0.79% | -0.46% | -- | -0.56% |
| Total | 21.48% | -34.97% | 47.54% | 29.34% | 24.28% | 12.22% | 16.65% |
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: $742.52
SMA 50: $726.77
SMA 200: $674.92
Current: $709.80
EMA 12: $736.20
EMA 26: $734.68
MACD: 1.5243 | Signal: -4.6417
BULLISH
ADX (14): 16.85
RANGE
+DI: 17.72
−DI: 40.84
Momentum Oscillators
RSI (14): 35.00
NEUTRAL
Stoch %K: 12.71
Stoch %D: 22.36
Williams %R: -95.38
Volume & Volatility
BB Upper: $764.62
BB Lower: $720.42
OVERSOLD
OBV: 1,042,517,646
Vol SMA 20: 36,091,510
Vol ROC: 93.16%
ATR: $10.55
True Range: $20.77
HV 20: 18.3%
HV 30: 16.6%
HV 60: 18.3%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-18T00:00:00 – 2026-10-16T00:00:00
AI Analysis
QQQ (Invesco QQQ Trust) - Comprehensive Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL with Confidence Level: 6.5/10
QQQ presents a mixed technical picture with conflicting signals that warrant cautious positioning. While the underlying Nasdaq-100 components show bullish momentum indicators (MACD histogram +8.73, price above all major moving averages), the options market reveals significant bearish positioning (put/call ratio 2.23) and low IV rank (12.4%) suggests market complacency despite recent strength. The high beta (1.42) amplifies both upside and downside risks, making this a volatile instrument sensitive to broad market sentiment shifts.
Key Drivers & Primary Risks:
- Driver: Continued strength in mega-cap tech stocks driving Nasdaq-100 composition; positive sentiment around growth narratives
- Risk: Heavy put positioning suggests institutional hedging; IV Premium 26% above realized volatility indicates options expensive relative to future realized moves; ADX at 14.31 shows weak trend strength despite price momentum
Investment Thesis: QQQ is trading in a narrow consolidation zone with price bullishly positioned above all major moving averages, but momentum indicators show early signs of exhaustion. The extreme put/call ratio (2.89 open interest) suggests either institutional hedging or contrarian setup opportunity, but current low volatility regime (IV Rank 12.4%) and weak ADX trend strength argue for cautious entry timing rather than aggressive positioning.
Recent News Sentiment Impact: News sentiment is modestly positive (3 positive, 7 neutral headlines), primarily focused on ETF investment strategies and growth narrative validation rather than specific fundamental catalysts. The Peter Lynch article aligns with current bullish positioning but provides no new price drivers. Limited specific news catalysts suggest price moves are driven by broad market technicals rather than QQQ-specific events.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): BULLISH with Caution
- Price at $751.27 trades well above SMA 20 ($737.54), SMA 50 ($724.52), and SMA 200 ($672.19)
- All moving averages in bullish alignment (20 > 50 > 200)
- However: ADX (14.31) indicates weak trend strength—below 20 suggests consolidation rather than strong directional move
- Stochastic %K at 69.52 and %D at 81.03 suggests momentum is fading after advance
Medium-term (1-3 months): NEUTRAL-BULLISH
- Price is $79.08 above SMA 200, confirming uptrend from longer-term perspective
- Gap between current price and 200-day MA represents 10.5% cushion
- However, Bollinger Band width of 9.03 is relatively narrow, suggesting market is in squeeze phase before potential breakout
Long-term (3-12 months): BULLISH
- Multi-month uptrend structure intact with consistent higher lows
- Price significantly above all major moving averages suggests institutional support
- However, no data on longer-term resistance levels limits confidence assessment
Support/Resistance Levels
Resistance Levels (Upside):
- Immediate: $770.85 (Bollinger Band Upper) — $19.58 upside (2.6%)
- Secondary: $780-785 zone (estimated based on 4-week trading range)
- Psychological: $800 level (major round number)
Support Levels (Downside):
- Immediate: $737.54 (SMA 20) — $13.73 below current price (1.8%)
- Strong Support: $724.52 (SMA 50) — $26.75 below current price (3.6%)
- Critical Support: $704.23 (Bollinger Band Lower) — $47.04 below current price (6.3%)
- Major Support: $672.19 (SMA 200) — $79.08 below current price (10.5%)
Momentum Signals
RSI (14) at 60.90 — NEUTRAL MOMENTUM
- Positioned in neutral zone (30-70 range)
- Not overbought (>70) despite upward price move
- Suggests room for further advance without RSI divergence signal
- Interpretation: Momentum is present but not extreme; upside breakout possible
MACD — STRONG BULLISH SIGNAL
- MACD line: 9.58 vs Signal line: 0.85 — +8.73 histogram
- Positive histogram and MACD well above signal line indicates bullish momentum
- MACD has not recently crossed above signal line (already in uptrend phase)
- Interpretation: Momentum was building, but current histogram of 8.73 suggests momentum may be flattening—watch for narrowing histogram as early warning of reversal
Stochastic Oscillator — OVERBOUGHT WARNING
- %K: 69.52, %D: 81.03 — Both approaching overbought territory
- %D at 81.03 is in overbought region (>80), suggesting potential for pullback
- %K above %D indicates upward momentum but %D elevation suggests momentum may be fading
- Interpretation: Short-term pullback risk; potential reversal signal if %K crosses below %D
Williams %R at -37.11 — NEUTRAL
- Reading between 0 and -50 indicates neutral momentum
- Not at extreme levels (-80 would be oversold, 0 would be overbought)
- Consistent with intermediate uptrend without extreme positioning
Bollinger Bands — NEUTRAL SQUEEZE
- Width of 9.03 is relatively narrow (9.03/middle of 737.54 = 1.22% width)
- Price at $751.27 is above middle band ($737.54) but not touching upper band
- Signal: Neutral zone within bands indicates neither extreme overbought nor oversold
- Squeeze pattern often precedes volatility breakout; watch for band expansion
Volume Analysis
Critical Volume Red Flag:
- Volume Rate of Change: -26.57% — MAJOR CONCERN
- Current volume is 26.57% BELOW the 20-day moving average
- This indicates declining institutional interest and weakening conviction in the upward move
- Volume SMA 20: 34.07M shares vs current (implied ~25M shares based on -26.57% calculation)
On-Balance Volume (OBV): 1,327,411,104.07
- OBV is positive and cumulative, suggesting net buying pressure historically
- However, with volume declining 26.57%, OBV momentum is likely slowing
- Red Flag: Strong price advance on declining volume is a classic divergence warning—suggests retail FOMO driving prices rather than institutional accumulation
Institutional Interest Signal:
- Declining volume suggests institutions are NOT heavily buying this recent rally
- Mixed signal: Positive OBV suggests historical buying, but negative volume ROC suggests recent buying has dried up
- Interpretation: Potential warning that current rally may lack follow-through support
News & Sentiment Analysis
Recent Headlines Summary
Themes Identified (Last 10 articles):
- Growth ETF Strategy Validation (3 articles): Articles discussing Magnificent Seven ETF investing, Nasdaq breakthrough importance, and growth ETF selection suggest positive sentiment around growth narrative
- Contrarian Investor Psychology (1 article): Peter Lynch article aligns with current bullish positioning, encouraging investors to ignore crash predictions
- Product/Strategy Positioning (6 articles): Multiple articles on fund selection (VUG, SPYG) indicate normal financial media coverage without unique catalysts
Sentiment Assessment: NEUTRAL-POSITIVE (60% confidence)
- Positive: 3 articles (30%) — Growth narrative validation, Nasdaq strength commentary
- Neutral: 7 articles (70%) — General ETF strategy and fund selection articles
- Negative: 0 articles (0%)
Assessment: Sentiment is noticeably ABSENT of negative catalysts, but also ABSENT of specific positive drivers for QQQ price movement. This suggests the current rally is driven by technical momentum and market positioning rather than fundamental news catalysts.
Catalyst Identification
Immediate Catalysts (1-7 days):
- Federal Reserve Communications: No specific data, but Fed speakers/statements typically drive tech volatility
- Market Breadth Data: Monitoring whether breadth participation widens or contracts
**Near-term (1-4
Generated
News
All QQQ news →
QQQ Options Activity & IV Rank
QQQ IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 22.8%
7-DTE IV: 23.3%
Expected Move: $36.19
7-DTE Move: $18.55
Days to Exp: 28 (2026-11-13)
Options Flow
Call Volume: 21,894
Put Volume: 35,314
P/C Volume: 1.613
BEARISH
Call OI: 54,063
Put OI: 86,448
P/C OI: 1.599
Total OI: 140,511
ATM Options Pricing
ATM Call: $19.09
ATM Put: $17.10
Call %: 2.7%
Put %: 2.4%
Chain Summary
Chain Volume: 12,345,162
Chain OI: 13,771,542
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 1st 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
1%
vs own history
GEX tilt
-0.44
OI-weighted, today
Vanna tilt
+0.48
δ-sensitivity to IV
Charm tilt
-0.27
δ-decay vs time
Vanna tilt +0.48: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
? What is this?
· 3247 ATM contracts, 5572k 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
99%
+11.4
pts
EXTREME
as of Oct 16 · ATM 24.2% / Wing 35.6%
30 DTE / 10d
97%
+10.8
pts
EXTREME
as of Oct 16 · ATM 23.1% / Wing 33.8%
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)47.1MediumOct 16
IV Rank (30 DTE)48.9MediumOct 16
Straddle Price (30 DTE)$36.19Oct 16
Beta Analysis
Risk Metrics
Beta: 1.4373
Alpha: -3.16%
Correlation: 0.9233
R-Squared: 85.2%
Stock Volatility: 19.8%
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
QQQ 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.
141 filers$465.02B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $81.69B | 17.57% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $57.20B | 12.30% | 2026-06-30 |
| 3 | CTC LLC | $53.60B | 11.53% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $46.98B | 10.10% | 2026-06-30 |
| 5 | Optiver Holding B.V. | $33.75B | 7.26% | 2026-06-30 |
| 6 | Barclays PLC Custodian | $21.02B | 4.52% | 2026-06-30 |
| 7 | UBS Group AG Custodian | $14.28B | 3.07% | 2026-06-30 |
| 8 | Wolverine Trading, LLC Custodian | $13.49B | 2.90% | 2025-09-30 |
| 9 | Parallax Volatility Advisers, L.P. | $12.22B | 2.63% | 2026-06-30 |
| 10 | Belvedere Trading LLC | $10.24B | 2.20% | 2026-06-30 |
| 11 | Goldman Sachs Group Inc Custodian | $8.51B | 1.83% | 2026-06-30 |
| 12 | IMC-Chicago, LLC Custodian | $8.15B | 1.75% | 2026-06-30 |
| 13 | Simplex Trading, LLC Custodian | $8.03B | 1.73% | 2026-06-30 |
| 14 | Wells Fargo & Company Custodian | $7.20B | 1.55% | 2026-06-30 |
| 15 | TUDOR INVESTMENT CORP ET AL | $7.11B | 1.53% | 2026-06-30 |
| 16 | Royal Bank of Canada Custodian | $6.34B | 1.36% | 2026-06-30 |
| 17 | Millennium Management LLC Custodian | $6.00B | 1.29% | 2026-06-30 |
| 18 | Citigroup Inc. Custodian | $5.61B | 1.21% | 2026-06-30 |
| 19 | BNP Paribas Financial Markets Custodian | $5.46B | 1.17% | 2026-06-30 |
| 20 | AKUNA SECURITIES LLC | $5.10B | 1.10% | 2026-06-30 |
| 21 | D. E. Shaw & Co., Inc. Custodian | $4.71B | 1.01% | 2026-06-30 |
| 22 | Squarepoint Ops LLC | $4.62B | 0.99% | 2026-06-30 |
| 23 | PEAK6 LLC | $4.15B | 0.89% | 2026-06-30 |
| 24 | CAPSTONE INVESTMENT ADVISORS, LLC | $4.11B | 0.88% | 2026-06-30 |
| 25 | JPMorgan Chase & Co Custodian | $2.75B | 0.59% | 2026-06-30 |
321 filers$644.82B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $72.52B | 11.25% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $72.34B | 11.22% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $53.11B | 8.24% | 2026-06-30 |
| 4 | CTC LLC | $51.66B | 8.01% | 2026-06-30 |
| 5 | Barclays PLC Custodian | $34.58B | 5.36% | 2026-06-30 |
| 6 | ALKEON CAPITAL MANAGEMENT LLC | $33.70B | 5.23% | 2026-06-30 |
| 7 | Optiver Holding B.V. | $28.43B | 4.41% | 2026-06-30 |
| 8 | Rokos Capital Management LLP | $24.95B | 3.87% | 2026-06-30 |
| 9 | Goldman Sachs Group Inc Custodian | $17.12B | 2.66% | 2026-06-30 |
| 10 | BNP Paribas Financial Markets Custodian | $16.55B | 2.57% | 2026-06-30 |
| 11 | IMC-Chicago, LLC Custodian | $12.64B | 1.96% | 2026-06-30 |
| 12 | CAPSTONE INVESTMENT ADVISORS, LLC | $11.54B | 1.79% | 2026-06-30 |
| 13 | UBS Group AG Custodian | $11.21B | 1.74% | 2026-06-30 |
| 14 | Wolverine Trading, LLC Custodian | $10.85B | 1.68% | 2025-09-30 |
| 15 | Citigroup Inc. Custodian | $10.27B | 1.59% | 2026-06-30 |
| 16 | Simplex Trading, LLC Custodian | $10.14B | 1.57% | 2026-06-30 |
| 17 | NOMURA HOLDINGS INC | $9.77B | 1.51% | 2026-06-30 |
| 18 | JPMorgan Chase & Co Custodian | $9.17B | 1.42% | 2026-06-30 |
| 19 | Belvedere Trading LLC | $9.13B | 1.42% | 2026-06-30 |
| 20 | Royal Bank of Canada Custodian | $8.67B | 1.34% | 2026-06-30 |
| 21 | Millennium Management LLC Custodian | $7.99B | 1.24% | 2026-06-30 |
| 22 | Two Seas Capital LP | $7.98B | 1.24% | 2026-09-30 |
| 23 | AKUNA SECURITIES LLC | $7.86B | 1.22% | 2026-06-30 |
| 24 | TUDOR INVESTMENT CORP ET AL | $6.98B | 1.08% | 2026-06-30 |
| 25 | Wells Fargo & Company Custodian | $6.90B | 1.07% | 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
70.46M
SI % of Float
10.53%
Days to Cover
1.95
Short Vol Ratio
71.3%
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 |
|---|