The future is bright for this fund that offers both income and growth.
SCHD Schwab US Dividend Equity ETF
ETF 35.38 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.
SCHD
$35.38
—
Key stats
$35.38
- 52-Week Range
- $26.32 – $35.45
- YTD
- +27.58%
- IV Rank (30D)
- 38.4
- Straddle Price
- $1.10
- P/C Vol Ratio
- 0.48
- Open
- $34.84
- Day Range
- $34.79 – $35.45
- Volume
- 28,851,874
- Prev Close
- $34.66
About
Schwab US Dividend Equity ETF (SCHD) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2011-10-20
- Has Options
- Yes
Fund profile
holdings as of Oct 7, 2026third-party datathrough May 2026flows, SEC filings
- Expense ratio
- 0.06% prospectus, filed Dec 22, 2025
- Assets
- $115.9B shares × price, Oct 21, 2026
- Trailing yield
- 3.04% paid quarterly
- Average daily volume
- $751M 30 sessions
- Holdings
- 102 top 10 are 41.6%
- Listed
- Oct 20, 2011 NYSE Arca
- Tracking difference
- -0.05 pts vs index, after fees, FY 2025
Cost99
Liquidity100
Scale100
Diversification64
Moves with. Value over growth (51% of its variance, beta 0.81); US large-cap stocks (23% of its variance, beta 0.81). These factors explain 75% of its daily moves over the last year.
Stated objective. The funds goal is to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100 TM Index. (from the fund's prospectus)
All 102 holdingsFlow historySimilar fundsOverlap toolAll Dividend ETFs
Fund flows
through May 2026SEC filings- May 2026
- +$2.6B latest reported month
- Latest 3 months
- +$6.9B +7.3% of assets
- Latest 12 months
- +$10.1B +10.6% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$2.6B |
| Apr 2026 | +$2.4B |
| Mar 2026 | +$2.0B |
| Feb 2026 | +$2.3B |
| Jan 2026 | +$546M |
| Dec 2025 | +$974M |
| Nov 2025 | −$253M |
| Oct 2025 | −$983M |
| Sep 2025 | +$629M |
| Aug 2025 | −$185M |
| Jul 2025 | −$28M |
| Jun 2025 | +$138M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 81 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| DDDDYieldMax U.S. Stocks Target Double Distribution ETF | 98% | 1.01% | $6.6M | — | compare |
| DIVNHorizon Dividend Income ETF | 44% | 0.70% | $155M | +19.7% | compare |
| HDViShares Core High Dividend ETF | 42% | 0.08% | $15.6B | +21.7% | compare |
| TBGTBG Dividend Focus ETF | 36% | 0.45% | $230M | +13.7% | compare |
| DURAVanEck Durable High Dividend ETF | 35% | 0.30% | $38M | +17.4% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 7, 2026third-party data- Holdings vs fair value
- +11.5% 48% under, 22% over · 100% covered
- Price / earnings
- 20.6 2% loss-making · 100% covered
- Price / book · sales
- 3.7 · 1.9 revenue growth +6.2%
- Above 200-day average
- 67% 71% above 50-day · by weight
- Short interest
- 2.9% of float, weighted · 3.6 days to cover
- Insider buying
- 7% of weight had net insider buying, 90 days; 63% net selling
- 13F holders
- +4.0% change in shares held by institutions, latest quarter
- Reporting earnings
- 44.2% of weight in 7 days; 68.0% in 14
Holdings reporting in the next 14 days · weighted implied move this week 2.45%
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
Feb 28, 2026 → May 31, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | QCOMQUALCOMM Inc | — | 6.74% | — |
| New position | UNHUnitedHealth Group Inc | — | 5.09% | — |
| Exit | CSCOCisco Systems Inc | 3.58% | — | — |
| New position | PGProcter & Gamble Co/The | — | 3.55% | — |
| Exit | ABBVAbbVie Inc | 3.53% | — | — |
| New position | ABTAbbott Laboratories | — | 2.96% | — |
| New position | Accenture PLC | — | 2.90% | — |
| New position | ADPAutomatic Data Processing Inc | — | 2.25% | — |
| New position | CMCSAComcast Corp | — | 2.25% | — |
| Exit | VLOValero Energy Corp | 2.24% | — | — |
Under the hood
fiscal year to Aug 31, 2025SEC census- Authorized participants
- 12 active of 28 with agreements; top 3 did 82%
- Created · redeemed
- $24.0B · $11.6B over the fiscal year
- Redemptions in kind
- 99% creations 99% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.02% of assets on loan on average; earned 0.0 bp
- Return vs index
- -0.05 pts after fees; +0.01 before; daily s.d. 0.00
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 2026-05-31
Holdings
102
AUM
$94.8B
Provider
Nport
Inception
2011-10-20
Exchange
ARCX
Data As Of
2026-05-31
Expense Ratio
0.06%
Dividend Yield
3.04%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-23 | 2026-09-28 | $0.2665 | CD |
| 2026-06-24 | 2026-06-29 | $0.2525 | CD |
| 2026-03-25 | 2026-03-30 | $0.2569 | CD |
| 2025-12-10 | 2025-12-15 | $0.2782 | CD |
| 2025-09-24 | 2025-09-29 | $0.2604 | CD |
| 2025-06-25 | 2025-06-30 | $0.2602 | CD |
Asset Allocation
Top Holdings
top 50 of 102 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| QCOM | QUALCOMM Inc | 6.74% | Equity (common) | US |
| TXN | Texas Instruments Inc | 5.90% | Equity (common) | US |
| UNH | UnitedHealth Group Inc | 5.09% | Equity (common) | US |
| KO | Coca-Cola Co/The | 3.96% | Equity (common) | US |
| MRK | Merck & Co Inc | 3.86% | Equity (common) | US |
| CVX | Chevron Corp | 3.83% | Equity (common) | US |
| VZ | Verizon Communications Inc | 3.65% | Equity (common) | US |
| PG | Procter & Gamble Co/The | 3.55% | Equity (common) | US |
| COP | ConocoPhillips | 3.51% | Equity (common) | US |
| AMGN | Amgen Inc | 3.47% | Equity (common) | US |
| PEP | PepsiCo Inc | 3.44% | Equity (common) | US |
| HD | Home Depot Inc/The | 3.36% | Equity (common) | US |
| ABT | Abbott Laboratories | 2.96% | Equity (common) | US |
| MO | Altria Group Inc | 2.94% | Equity (common) | US |
| BMY | Bristol-Myers Squibb Co | 2.93% | Equity (common) | US |
| — | Accenture PLC | 2.90% | Equity (common) | IE |
| LMT | Lockheed Martin Corp | 2.70% | Equity (common) | US |
| ADP | Automatic Data Processing Inc | 2.25% | Equity (common) | US |
| CMCSA | Comcast Corp | 2.25% | Equity (common) | US |
| BX | Blackstone Inc | 2.20% | Equity (common) | US |
| SLB | SLB Ltd | 2.05% | Equity (common) | CW |
| UPS | United Parcel Service Inc | 1.98% | Equity (common) | US |
| EOG | EOG Resources Inc | 1.82% | Equity (common) | US |
| F | Ford Motor Co | 1.72% | Equity (common) | US |
| TGT | Target Corp | 1.45% | Equity (common) | US |
| OKE | ONEOK Inc | 1.33% | Equity (common) | US |
| DVN | Devon Energy Corp | 1.29% | Equity (common) | US |
| FAST | Fastenal Co | 1.28% | Equity (common) | US |
| FITB | Fifth Third Bancorp | 1.13% | Equity (common) | US |
| ADM | Archer-Daniels-Midland Co | 0.96% | Equity (common) | US |
| KMB | Kimberly-Clark Corp | 0.81% | Equity (common) | US |
| PAYX | Paychex Inc | 0.79% | Equity (common) | US |
| HSY | Hershey Co/The | 0.72% | Equity (common) | US |
| ARES | Ares Management Corp | 0.67% | Equity (common) | US |
| CINF | Cincinnati Financial Corp | 0.62% | Equity (common) | US |
| RF | Regions Financial Corp | 0.61% | Equity (common) | US |
| DRI | Darden Restaurants Inc | 0.59% | Equity (common) | US |
| TROW | T Rowe Price Group Inc | 0.57% | Equity (common) | US |
| PFG | Principal Financial Group Inc | 0.52% | Equity (common) | US |
| SNA | Snap-on Inc | 0.48% | Equity (common) | US |
| GIS | General Mills Inc | 0.45% | Equity (common) | US |
| BR | Broadridge Financial Solutions Inc | 0.45% | Equity (common) | US |
| EWBC | East West Bancorp Inc | 0.42% | Equity (common) | US |
| BBY | Best Buy Co Inc | 0.38% | Equity (common) | US |
| APA | APA Corp | 0.33% | Equity (common) | US |
| WSO | Watsco Inc | 0.32% | Equity (common) | US |
| FNF | Fidelity National Financial Inc | 0.30% | Equity (common) | US |
| SWKS | Skyworks Solutions Inc | 0.29% | Equity (common) | US |
| DINO | HF Sinclair Corp | 0.28% | Equity (common) | US |
| BAH | Booz Allen Hamilton Holding Corp | 0.24% | Equity (common) | US |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.52% | -2.71% | 2.21% | -0.59% | 2.09% | 7.54% | 1.51% |
| Feb | 4.95% | -2.52% | -3.77% | 0.78% | 2.96% | 5.90% | 1.38% |
| Mar | 5.53% | 4.17% | -1.82% | 3.17% | -1.55% | -3.70% | 0.97% |
| Apr | 1.65% | -4.53% | -1.35% | -3.93% | -7.36% | 5.11% | -1.74% |
| May | 2.18% | 3.50% | -4.19% | 2.18% | 1.79% | 2.01% | 1.24% |
| Jun | -1.77% | -8.08% | 3.94% | -0.49% | 0.95% | -1.46% | -1.15% |
| Jul | 0.18% | 3.13% | 3.57% | 6.68% | -2.03% | 5.17% | 2.78% |
| Aug | 2.26% | -2.82% | -1.05% | 3.39% | 5.84% | 3.96% | 1.93% |
| Sep | -4.01% | -8.61% | -5.24% | 0.90% | -1.94% | -6.55% | -4.24% |
| Oct | 3.03% | 8.31% | -3.02% | 0.25% | -2.83% | 8.39%* | 2.35% |
| Nov | -2.27% | 6.56% | 6.16% | 5.09% | 4.23% | -- | 3.95% |
| Dec | 6.96% | -4.45% | 4.07% | -6.88% | -0.36% | -- | -0.13% |
| Total | 20.30% | -9.36% | -1.29% | 10.24% | 1.08% | 28.33% | 8.21% |
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: $33.46
SMA 50: $34.04
SMA 200: $32.14
Current: $35.40
EMA 12: $34.14
EMA 26: $33.84
MACD: 0.2963 | Signal: 0.2708
BULLISH
ADX (14): 31.88
TREND
+DI: 46.03
−DI: 15.61
Momentum Oscillators
RSI (14): 74.58
OVERBOUGHT
Stoch %K: 98.75
Stoch %D: 96.24
Williams %R: -1.62
Volume & Volatility
BB Upper: $35.08
BB Lower: $31.84
OVERBOUGHT
OBV: -54,715,356
Vol SMA 20: 22,941,092
Vol ROC: 21.38%
ATR: $0.36
True Range: $0.79
HV 20: 12.8%
HV 30: 12.9%
HV 60: 11.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
SCHD (Schwab US Dividend Equity ETF) - Comprehensive Analysis
Executive Summary
Overall Assessment: NEUTRAL with confidence level 6.5/10
SCHD is a large, low-cost dividend ETF ($114.9B in assets, 0.06% expense ratio) displaying mixed technical signals amid a backdrop of positive sector sentiment. The fund is posting strong year-to-date performance relative to peers and has attracted substantial inflows (+$10.1B over 12 months, +7.3% of assets in Q1 2026), but current technical indicators suggest near-term consolidation or minor pullback risk.
Primary Drivers: Strong dividend yield (3.07%), concentrated exposure to mega-cap dividend payers (top 10 holdings = 41.6%), outperformance vs. VYM, attractive fund economics. Primary Risks: Overbought momentum indicators (Stochastic %K 91.19, Williams %R -10.90), bearish MACD crossover (-0.16 histogram), declining volume flows (-16.93% rate of change), valuation richness (holdings trading +11.9% above fair value).
Investment Thesis: SCHD benefits from sector tailwinds in dividend equities and superior fund structure (ultra-low fees, strong flows), but technical deterioration and stretched valuations present near-term consolidation risk. The fund's low beta (0.22) and low correlation to broad market (0.25) position it as a defensive holding, but current technical setup suggests waiting for a pullback to higher-conviction entry points.
Recent News Sentiment Impact: Positive. Recent coverage (10/17-10/19) highlights SCHD's outperformance vs. VYM and positions dividend ETFs broadly as attractive during market uncertainty, though one article tempers expectations of SCHD's advantage persisting.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): NEUTRAL-to-BEARISH consolidation
- Price $34.24 is 0.73% above SMA 20 ($33.23) and 0.71% above SMA 50 ($34.00), indicating price is near near-term moving averages with marginal upside.
- EMA 12 ($33.61) and EMA 26 ($33.56) are nearly aligned with minimal separation, signaling weakening momentum.
- ADX at 30.19 indicates a strong trending regime, but +DI (34.63) significantly exceeds -DI (21.28), yet this bullish directional reading is contradicted by other indicators.
Medium-term (1-3 months): BULLISH
- Price $34.24 trades 6.86% above SMA 200 ($32.04), confirming the fund remains in a longer-term uptrend.
- 70% of holdings trade above their 200-day averages, supporting the uptrend thesis.
Long-term (3-12 months): BULLISH
- Sustained uptrend with YTD outperformance vs. peers and consistent positive fund flows (+10.1B annual).
Support/Resistance Levels
| Level | Type | Significance | |-------|------|--------------| | $34.29 | Resistance | Upper Bollinger Band; Stochastic showing extreme overbought | | $34.24 | Current Price | - | | $34.00 | Support | SMA 50; strong intermediate support | | $33.23 | Support | SMA 20; recent consolidation anchor | | $32.17 | Support | Lower Bollinger Band; major support | | $32.04 | Support | SMA 200; long-term trend support |
Critical Observation: Bollinger Bands are relatively tight (width: 6.38), with price positioned near the upper band, suggesting potential mean reversion risk toward the middle band ($33.23).
Momentum Signals
RSI (14): 62.85 (NEUTRAL)
- Reading of 62.85 is between oversold (<30) and overbought (>70), technically neutral territory.
- However, RSI is trending toward overbought, indicating upward momentum intensity is rising but not yet extreme.
MACD (BEARISH)
- MACD line: 0.05
- Signal line: 0.21
- Histogram: -0.16 (negative and bearish)
- Critical Signal: MACD has crossed below the signal line (histogram negative), representing a bearish crossover. This is the first technical deterioration signal.
- The small magnitude (-0.16) suggests early-stage bearish momentum, not yet confirming a major reversal.
Stochastic Oscillators (OVERBOUGHT - EXTREME)
- %K: 91.19 (extremely overbought; >80 typically signals exhaustion)
- %D: 92.56 (even higher, confirming overbought state)
- Williams %R: -10.90 (overbought, -0 to -20 range)
- Interpretation: These extreme readings suggest short-term pullback risk. Stochastic extremes often precede mean-reversion moves of 1-3%.
Bollinger Bands (NEUTRAL - no squeeze or clear breakout)
- Price is not touching upper band; there is room to $34.29 before hitting true resistance.
- Bands are neither squeezed (low volatility environment) nor wide (high volatility), suggesting normal trading conditions.
Volume Analysis
Key Red Flag: Deteriorating Volume
- Volume Rate of Change: -16.93% — this represents a significant decline in trading volume relative to the 20-day average.
- 20-day average volume: 22.9M shares; current volume trending below this.
- Interpretation: Declining volume on a relatively flat/consolidating price action often precedes directional moves, typically downward without fresh buying interest.
On-Balance Volume (OBV): -95,280,048.62 (NEGATIVE)
- Negative cumulative OBV indicates that volume on down days has exceeded volume on up days over the analyzed period.
- This divergence between price holding near highs and negative OBV is a potential warning sign of weakening institutional commitment.
Institutional Interest Signal:
- Strong YTD fund inflows (+$10.1B annual, +$6.9B in Q1 2026) suggest continued institutional accumulation, but recent volume decline may indicate inflow momentum is moderating.
News & Sentiment Analysis
Recent Headlines Summary
Positive Sentiment (4 of 6 headlines):
- "3 Dividend ETFs That Deliver More Power as a Combined Portfolio" — SCHD favorably positioned within dividend ETF category.
- "The Dividend ETF Quietly Delivering Double-Digit Returns While Most Investors Aren't Paying Attention" — implied to be SCHD or peer, highlighting performance.
- "If a Stock Market Crash Is Coming, History Says These 3 ETFs Are the Smartest Buys" — SCHD positioned as defensive/crash-resilient option (consistent with low beta 0.22).
Neutral/Mixed Sentiment (2 of 6 headlines): 4. "SCHD Is Crushing the Vanguard High Dividend Yield ETF (VYM) This Year. I Predict That Advantage Is About to Fade" — explicitly acknowledges SCHD's YTD outperformance but tempers expectations. 5. "Should Vanguard High Dividend Yield Index Fund ETF Shares (VYM) Be on Your Investing Radar?" — comparative question; neutral framing.
Sentiment Assessment
Aggregate News Sentiment: POSITIVE (70% positive, 30% neutral/mixed)
Recent coverage reflects:
- Recognition of SCHD's YTD performance advantage
- Positioning as a defensive/dividend income vehicle
- Confidence in dividend ETFs as a category during uncertain markets
- One notable caveat: mean reversion risk vs. VYM is acknowledged, suggesting analysts recognize outperformance may not persist
Catalyst Identification
Immediate (1-7 days): None identified. No earnings, distribution announcements, or regulatory events flagged.
Near-term (1-4 weeks):
- Earnings Catalyst: 30% of portfolio weight reports earnings within 7 days [as of 10/07]. Key holdings likely include:
- TXN (Texas Instruments) — semiconductor earnings
- QCOM (Qualcomm) — semiconductor earnings
- UNH (UnitedHealth) — healthcare earnings
- PG
Generated
News
All SCHD news →
SCHD Options Activity & IV Rank
SCHD IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 13.6%
7-DTE IV: 14.1%
Expected Move: $1.10
7-DTE Move: $0.60
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 3,867
Put Volume: 1,842
P/C Volume: 0.476
BULLISH
Call OI: 11,519
Put OI: 4,963
P/C OI: 0.431
Total OI: 16,482
ATM Options Pricing
ATM Call: $0.53
ATM Put: $0.57
Call %: 1.5%
Put %: 1.6%
Chain Summary
Chain Volume: 20,472
Chain OI: 141,068
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
HIGH γ vs HISTORY
Estimated net dealer gamma is at the 81st percentile of this name's own daily history, near the high end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
81%
vs own history
GEX tilt
+0.47
OI-weighted, today
Vanna tilt
+0.25
δ-sensitivity to IV
Charm tilt
-0.89
δ-decay vs time
Charm tilt -0.89: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 95 ATM contracts, 78k 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
ATM 14.1% / Wing —
30 DTE / 10d
19%
+4.8
pts
EXTREME
ATM 13.7% / Wing 18.5%
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
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)21.7LowOct 22
IV Rank (30 DTE)38.4MediumOct 22
Straddle Price (30 DTE)$1.10Oct 22
Beta Analysis
Risk Metrics
Beta: 0.1965
Alpha: 25.08%
Correlation: 0.2192
R-Squared: 4.8%
Stock Volatility: 11.4%
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
SCHD 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.
12 filers$149.75M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $55.32M | 36.94% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $22.92M | 15.31% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $21.28M | 14.21% | 2026-06-30 |
| 4 | Wolverine Trading, LLC Custodian | $18.82M | 12.57% | 2025-09-30 |
| 5 | Cubist Systematic Strategies, LLC | $7.51M | 5.02% | 2025-09-30 |
| 6 | Point72 Asset Management, L.P. | $7.36M | 4.91% | 2026-06-30 |
| 7 | Squarepoint Ops LLC | $6.20M | 4.14% | 2026-06-30 |
| 8 | Twin Tree Management, LP | $4.40M | 2.94% | 2026-06-30 |
| 9 | CAPITAL FUND MANAGEMENT S.A. | $4.12M | 2.75% | 2026-06-30 |
| 10 | Walleye Trading LLC | $1.74M | 1.16% | 2026-06-30 |
| 11 | ZEGA Investments, LLC | $85.62K | 0.06% | 2026-06-30 |
| 12 | Wealth Watch Advisors, INC | $13 | 0.00% | 2026-06-30 |
9 filers$77.64M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $27.78M | 35.78% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $11.87M | 15.29% | 2026-06-30 |
| 3 | CAPITAL FUND MANAGEMENT S.A. | $9.15M | 11.79% | 2026-06-30 |
| 4 | Point72 Asset Management, L.P. | $8.22M | 10.59% | 2026-06-30 |
| 5 | Cubist Systematic Strategies, LLC | $6.73M | 8.67% | 2025-09-30 |
| 6 | Squarepoint Ops LLC | $4.91M | 6.32% | 2026-06-30 |
| 7 | Jane Street Group, LLC Custodian | $4.54M | 5.85% | 2026-06-30 |
| 8 | Wolverine Trading, LLC Custodian | $4.15M | 5.34% | 2025-09-30 |
| 9 | LPL Financial LLC Custodian | $282.22K | 0.36% | 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
6.21M
SI % of Float
0.19%
Days to Cover
1.00
Short Vol Ratio
49.0%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-22
Constituent Performance
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Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|