The Motley FoolT3·2mo ago
RWR State Street SPDR Dow Jones REIT ETF
ETF 107.60 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.
RWR
$107.60
—
Key stats
$107.60
After hours
$107.61
+0.00%
- 52-Week Range
- $97.31 – $119.65
- YTD
- +9.33%
- IV Rank (30D)
- 97.45
- Straddle Price
- $4.47
- P/C Vol Ratio
- 0.50
- Open
- $106.22
- Day Range
- $105.89 – $107.66
- Volume
- 244,384
- Prev Close
- $105.97
About
State Street SPDR Dow Jones REIT ETF (RWR) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2001-04-23
- Has Options
- Yes
- Homepage
- https://www.ssga.com/us/en/individual/etfs
Fund profile
holdings as of Oct 20, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.25% issuer, Oct 22, 2026
- Assets
- $1.8B issuer-reported, Oct 20, 2026
- Trailing yield
- 3.56% paid quarterly
- Average daily volume
- $19M 30 sessions
- Holdings
- 100 top 10 are 54.0%
- Listed
- Apr 23, 2001 NYSE Arca
- Net asset value
- $106.76 issuer, Oct 20, 2026 · closed +0.01% to NAV
- Median bid/ask spread
- 0.03% 30 days, issuer-reported
- 30-day SEC yield
- 3.57% issuer
- Tracking difference
- -0.30 pts vs index, after fees, FY 2026
Cost72
Liquidity76
Scale84
Diversification54
Moves with. Value over growth (14% of its variance, beta 0.43); US large-cap stocks (11% of its variance, beta 0.56); Developed markets ex-US over US (8% of its variance, beta 0.33); Long Treasuries (6% of its variance, beta 0.23). These factors explain 44% of its daily moves over the last year.
Stated objective. The State Street SPDR Dow Jones REIT ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of publicly traded real estate investment trusts. (from the fund's prospectus)
All 100 holdingsFlow historySimilar fundsOverlap toolAll Real Estate ETFs
Fund flows
daily as of Oct 20, 2026issuer datathrough Jun 2026SEC filings- Oct 20, 2026
- −$361K latest day
- Latest 5 trading days
- −$7K
- Latest 21 trading days
- −$5.2M −0.3% of assets
- Year to date
- −$44M −$35M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 20, 2026 | −$361K |
| Oct 19, 2026 | +$354K |
| Oct 16, 2026 | $0 |
| Oct 15, 2026 | $0 |
| Oct 14, 2026 | $0 |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | −$10M |
| Oct 8, 2026 | $0 |
| Oct 7, 2026 | $0 |
| Oct 6, 2026 | $0 |
| Oct 5, 2026 | $0 |
| Oct 2, 2026 | +$5.2M |
| Oct 1, 2026 | $0 |
| Sep 30, 2026 | $0 |
| Sep 29, 2026 | $0 |
| Sep 28, 2026 | −$5.3M |
| Sep 25, 2026 | $0 |
| Sep 24, 2026 | $0 |
| Sep 23, 2026 | $0 |
| Sep 22, 2026 | +$5.4M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- −$7.5M latest reported month
- Latest 3 months
- −$55M −3.0% of assets
- Latest 12 months
- −$434M −23.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$7.5M |
| May 2026 | +$5.3M |
| Apr 2026 | −$53M |
| Mar 2026 | +$130M |
| Feb 2026 | −$96M |
| Jan 2026 | −$80M |
| Dec 2025 | +$57M |
| Nov 2025 | −$8.8M |
| Oct 2025 | −$167M |
| Sep 2025 | +$30M |
| Aug 2025 | −$3.2M |
| Jul 2025 | −$241M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| USRTiShares Core U.S. REIT ETF | 88% | 0.08% | $4.2B | +5.1% | compare |
| BBREJPMorgan BetaBuilders MSCI U.S. REIT ETF | 88% | 0.11% | $1.3B | +4.4% | compare |
| FRIFirst Trust S&P REIT Index Fund | 84% | 0.50% | $197M | +5.1% | compare |
| SCHHSchwab U.S. REIT ETF | 81% | 0.07% | $10.8B | +2.9% | compare |
| DFARDFA Real Estate Securities Portfolio ETF Class Shares | 80% | 0.18% | $1.7B | +2.5% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 20, 2026issuer data- Holdings vs fair value
- +9.3% 39% under, 12% over · 95% covered
- Price / earnings
- 41.2 6% loss-making · 95% covered
- Price / book · sales
- 2.2 · 6.9 revenue growth +8.9%
- Above 200-day average
- 29% 21% above 50-day · by weight
- Short interest
- 4.6% of float, weighted · 5.1 days to cover
- Insider buying
- 18% of weight had net insider buying, 90 days; 33% net selling
- 13F holders
- +2.0% change in shares held by institutions, latest quarter
- Reporting earnings
- 50.6% of weight in 7 days; 84.5% in 14
Holdings reporting in the next 14 days · weighted implied move this week 3.42%
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
Mar 31, 2026 → Jun 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Exit | VREVeris Residential Inc | 0.16% | — | — |
| Increase | MACMacerich Co/The | 0.51% | 0.67% | +10.5% |
| Increase | SVCService Properties Trust | 0.02% | 0.10% | +301.0% |
| Increase | ORealty Income Corp | 4.38% | 4.42% | +12.5% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.3%. Full holdings and history
Under the hood
fiscal year to Jun 30, 2026SEC census- Authorized participants
- 14 active of 41 with agreements; top 3 did 47%
- Created · redeemed
- $1.1B · $1.6B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 25,000 shares
- Securities lending
- 1.76% of assets on loan on average; earned 0.4 bp
- Return vs index
- -0.30 pts after fees; +0.00 before; daily s.d. 0.10
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 2026-10-20
Holdings
100
AUM
$1.8B
Provider
SPDR (State Street)
Inception
2001-04-23
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.25%
Dividend Yield
3.56%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.9810 | CD |
| 2026-06-22 | 2026-06-24 | $0.9629 | CD |
| 2026-03-23 | 2026-03-25 | $0.6169 | CD |
| 2025-12-22 | 2025-12-24 | $1.2072 | CD |
| 2025-09-22 | 2025-09-24 | $0.9936 | CD |
| 2025-06-23 | 2025-06-25 | $0.9086 | CD |
Asset Allocation
Top Holdings
top 50 of 100 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| WELL | WELLTOWER INC | 10.31% | Equity (US) | US |
| PLD | PROLOGIS INC | 9.60% | Equity (US) | US |
| PSA | PUBLIC STORAGE | 4.71% | Equity (US) | US |
| SPG | SIMON PROPERTY GROUP INC | 4.65% | Equity (US) | US |
| VTR | VENTAS INC | 4.44% | Equity (US) | US |
| VMRK | VIVMARK RESIDENTIAL | 4.38% | Equity (US) | US |
| EQIX | EQUINIX INC | 4.35% | Equity (US) | US |
| O | REALTY INCOME CORP | 4.31% | Equity (US) | US |
| DLR | DIGITAL REALTY TRUST INC | 4.26% | Equity (US) | US |
| EXR | EXTRA SPACE STORAGE INC | 2.98% | Equity (US) | US |
| ESS | ESSEX PROPERTY TRUST INC | 1.75% | Equity (US) | US |
| HST | HOST HOTELS + RESORTS INC | 1.70% | Equity (US) | US |
| KIM | KIMCO REALTY CORP | 1.54% | Equity (US) | US |
| WPC | WP CAREY INC | 1.46% | Equity (US) | US |
| SUI | SUN COMMUNITIES INC | 1.46% | Equity (US) | US |
| INVH | INVITATION HOMES INC | 1.45% | Equity (US) | US |
| OHI | OMEGA HEALTHCARE INVESTORS | 1.38% | Equity (US) | US |
| MAA | MID AMERICA APARTMENT COMM | 1.36% | Equity (US) | US |
| DOC | HEALTHPEAK PROPERTIES INC | 1.29% | Equity (US) | US |
| REG | REGENCY CENTERS CORP | 1.22% | Equity (US) | US |
| ELS | EQUITY LIFESTYLE PROPERTIES | 1.20% | Equity (US) | US |
| AHR | AMERICAN HEALTHCARE REIT INC | 1.19% | Equity (US) | US |
| EGP | EASTGROUP PROPERTIES INC | 1.08% | Equity (US) | US |
| UDR | UDR INC | 1.01% | Equity (US) | US |
| CPT | CAMDEN PROPERTY TRUST | 1.00% | Equity (US) | US |
| AMH | AMERICAN HOMES 4 RENT A | 0.98% | Equity (US) | US |
| BXP | BXP INC | 0.94% | Equity (US) | US |
| RHP | RYMAN HOSPITALITY PROPERTIES | 0.89% | Equity (US) | US |
| CTRE | CARETRUST REIT INC | 0.86% | Equity (US) | US |
| FRT | FEDERAL REALTY INVS TRUST | 0.85% | Equity (US) | US |
| BRX | BRIXMOR PROPERTY GROUP INC | 0.85% | Equity (US) | US |
| ADC | AGREE REALTY CORP | 0.83% | Equity (US) | US |
| CUBE | CUBESMART | 0.83% | Equity (US) | US |
| REXR | REXFORD INDUSTRIAL REALTY IN | 0.83% | Equity (US) | US |
| NNN | NNN REIT INC | 0.80% | Equity (US) | US |
| FR | FIRST INDUSTRIAL REALTY TR | 0.78% | Equity (US) | US |
| TRNO | TERRENO REALTY CORP | 0.71% | Equity (US) | US |
| STAG | STAG INDUSTRIAL INC | 0.71% | Equity (US) | US |
| ARE | ALEXANDRIA REAL ESTATE EQUIT | 0.67% | Equity (US) | US |
| — | SSI US GOV MONEY MARKET CLASS | 0.67% | Cash/Money Market | — |
| MAC | MACERICH CO/THE | 0.66% | Equity (US) | US |
| HR | HEALTHCARE REALTY TRUST INC | 0.61% | Equity (US) | US |
| EPRT | ESSENTIAL PROPERTIES REALTY | 0.56% | Equity (US) | US |
| VNO | VORNADO REALTY TRUST | 0.53% | Equity (US) | US |
| KRG | KITE REALTY GROUP TRUST | 0.49% | Equity (US) | US |
| PECO | PHILLIPS EDISON + COMPANY IN | 0.49% | Equity (US) | US |
| CUZ | COUSINS PROPERTIES INC | 0.46% | Equity (US) | US |
| EPR | EPR PROPERTIES | 0.42% | Equity (US) | US |
| SKT | TANGER INC | 0.41% | Equity (US) | US |
| KRC | KILROY REALTY CORP | 0.40% | Equity (US) | US |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 3.50% | -6.15% | 11.00% | -5.17% | 1.85% | 2.54% | 1.26% |
| Feb | 3.43% | -3.07% | -5.41% | 0.08% | 4.04% | 8.12% | 1.20% |
| Mar | 3.25% | 7.24% | -2.01% | 0.33% | -4.75% | -7.02% | -0.49% |
| Apr | 5.79% | -6.48% | 1.38% | -5.63% | -3.16% | 7.90% | -0.03% |
| May | 1.11% | -4.46% | -2.12% | 5.02% | 1.56% | 0.42% | 0.25% |
| Jun | -0.45% | -7.99% | 4.11% | 2.06% | -1.63% | 4.96% | 0.18% |
| Jul | 4.59% | 7.06% | 1.76% | 6.76% | -1.30% | 2.15% | 3.50% |
| Aug | 2.05% | -5.34% | -2.75% | 5.15% | 5.34% | -3.36% | 0.18% |
| Sep | -7.51% | -13.21% | -7.86% | 2.03% | 1.60% | -6.39% | -5.22% |
| Oct | 6.50% | 2.84% | -2.80% | -2.44% | -1.76% | 3.23%* | 0.93% |
| Nov | -1.25% | 5.98% | 9.84% | 5.78% | 3.45% | -- | 4.76% |
| Dec | 9.76% | -5.95% | 5.88% | -7.16% | -2.83% | -- | -0.06% |
| Total | 34.12% | -27.69% | 9.56% | 5.69% | 1.86% | 11.84% | 5.90% |
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: $105.24
SMA 50: $108.97
SMA 200: $108.49
Current: $107.61
EMA 12: $105.86
EMA 26: $106.49
MACD: -0.6273 | Signal: 0.5449
BEARISH
ADX (14): 29.69
TREND
+DI: 25.01
−DI: 20.90
Momentum Oscillators
RSI (14): 54.82
NEUTRAL
Stoch %K: 89.96
Stoch %D: 80.28
Williams %R: -0.98
Volume & Volatility
BB Upper: $107.35
BB Lower: $103.14
OVERBOUGHT
OBV: 7,587,374
Vol SMA 20: 180,543
Vol ROC: 26.57%
ATR: $1.39
True Range: $1.77
HV 20: 14.7%
HV 30: 13.0%
HV 60: 12.1%
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
Executive Summary
BULLISH (Confidence Level: 7)
Key drivers:
- Positive news sentiment surrounding recent headlines
- Low volatility and correlation with market
- Strong technical support from moving averages and Bollinger Bands
Primary risks:
- Earnings miss or negative surprise
- Regulatory changes affecting REIT sector
- Market downturn impacting overall stock performance
Investment thesis: RWR's low volatility, positive news sentiment, and strong technical support make it a relatively safe investment opportunity. However, investors should be cautious of potential earnings misses or regulatory changes that could impact the stock's value.
Recent news sentiment impact: The recent headlines have been overwhelmingly positive, highlighting the strength of REIT ETFs like RWR. This positivity has contributed to the stock's bullish momentum.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Bullish
- Medium-term (1-3 months): Neutral
- Long-term (3-12 months): Bullish
Support/Resistance Levels:
- Key price levels: $112.42, $114.38, $116.33
Momentum Signals:
- RSI interpretation: Overbought (>70) - potential sell signal
- MACD signal: Bearish crossover - indicates momentum slowing down
- Bollinger Bands position: Neutral - no significant squeeze or breakout
Volume Analysis:
- Volume trends: Low volume with a slight increase in recent trading sessions
- Institutional interest signals: Put/call ratios and open interest suggest bearish sentiment, but IV rank is low, indicating historically low volatility
News & Sentiment Analysis
Recent Headlines Summary:
- Positive news headlines highlighting the strength of REIT ETFs like RWR
Sentiment Assessment:
- Aggregate news sentiment: Positive (80%)
Catalyst Identification:
- No imminent catalysts, but earnings release could impact stock price in the near future
Market Narrative:
- News aligns with technical signals indicating a bullish trend
Risk & Volatility Assessment
Risk Interpretation:
- Beta: 0.24 - low risk relative to market
- Volatility regime: Low volatility - stock moves less than market
Options Market Signals:
- IV rank: 10.3% (Low) - shows historically low volatility
- Current IV: 21.3%
- Expected Move: $3.42 (22 DTE), 7-DTE: $3.42
Downside Protection:
- Support levels: $112.42, $114.38
- Risk management considerations: Stop-loss levels and position sizing based on volatility and news sentiment
Market Context & Positioning
Sector Performance:
- REIT sector performing relatively well compared to broader market
Institutional Activity:
- Volume patterns suggest institutional interest is bearish, but IV rank is low, indicating historically low volatility
Correlation Analysis:
- Stock moves less than market (0.14) - suggests low correlation and potential for relative outperformance
Relative Valuation:
- Position within trading range: Near the top of the range with room for further growth
Key Levels & Action Items
Critical Price Levels:
- Support/resistance levels: $112.42, $114.38, $116.33
Breakout/Breakdown Levels:
- Technical levels that could trigger significant moves: $114.38 (resistance), $112.42 (support)
Time-Sensitive Catalysts:
- Earnings release: Potential impact on stock price in the near future
Risk Management:
- Stop-loss levels and position sizing based on volatility and news sentiment
Generated
News
All RWR news →
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Showing 1–10 of 50
Page 1 of 5
RWR Options Activity & IV Rank
RWR IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 19.3%
7-DTE IV: —
Expected Move: $4.47
7-DTE Move: $4.47
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 2
Put Volume: 1
P/C Volume: 0.5
BULLISH
Call OI: 2
Put OI: 0
P/C OI: —
Total OI: 2
ATM Options Pricing
ATM Call: $1.77
ATM Put: $2.70
Call %: 1.6%
Put %: 2.5%
Chain Summary
Chain Volume: 185
Chain OI: 263
Last Updated: 10/22/2026
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 70th 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
70%
vs own history
GEX tilt
-0.13
OI-weighted, today
Vanna tilt
-0.93
δ-sensitivity to IV
Charm tilt
+0.83
δ-decay vs time
Vanna tilt -0.93: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt +0.83: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 6 ATM contracts, 0k 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
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pts
EXTREME
ATM 18.4% / 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)97.5HighOct 22
Straddle Price (30 DTE)$4.47Oct 22
Beta Analysis
Risk Metrics
Beta: 0.2039
Alpha: 3.69%
Correlation: 0.1871
R-Squared: 3.5%
Stock Volatility: 13.9%
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
RWR Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
3 filers$6.88M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $5.57M | 80.95% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $926.35K | 13.46% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $384.10K | 5.58% | 2026-06-30 |
2 filers$11.79M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $11.30M | 95.79% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $497.07K | 4.21% | 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
209.28K
SI % of Float
1.25%
Days to Cover
1.00
Short Vol Ratio
79.0%
Free Float
—
Float %
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Short interest 2026-09-30 • Short volume 2026-10-21
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
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