SEPM FT Vest U.S. Equity Max Buffer ETF - September
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FT Vest U.S. Equity Max Buffer ETF - September (SEPM) ETF
No description available.
- Exchange
- BATS
- Inception
- 2024-09-20
- Has Options
- No
- Expense ratio
- 0.85% prospectus, filed Sep 29, 2025
- Assets
- $38M issuer-reported, Oct 20, 2026
- Trailing yield
- —
- Average daily volume
- $444K 30 sessions
- Holdings
- 4 top 10 are 103.2%
- Listed
- Sep 20, 2024 Cboe BZX
- Net asset value
- $33.48 issuer, Oct 20, 2026
- Reference asset
- SPY period ends Sep 17, 2027 (330 days)
- Cap, full period
- 8.3% before fees
- Protection, full period
- 100.0% losses below the start level
- Reference since start
- +1.5% $773.09 on Oct 21, 2026
- Upside left to the cap
- 6.6% for a buyer today
- Drop before the buffer starts
- 1.5% unprotected from here
Moves with. US large-cap stocks (75% of its variance, beta 0.16); High yield over Treasuries (4% of its variance, beta 0.07). These factors explain 82% of its daily moves over the last year.
Stated objective. "The investment objective of the FT Vest U.S. Equity Max Buffer ETF September (the Fund ) is to seek to provide investors with returns (before fees and expenses) that match the price return of the SPDR S&P 500 ETF Trust (the ""Underlying ETF"" ) up to a predetermined upside cap while seeking to provide the maximum available buffer (before fees and expenses), as described below, against Underlying ETF losses over an approximate period of one year (the ""Target Outcome Period"" )." (from the fund's prospectus)
- May 2026
- −$1.6M latest reported month
- Latest 3 months
- −$1.6M −5.3% of assets
- Latest 12 months
- +$6.3M +20.1% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | −$1.6M |
| Apr 2026 | $0 |
| Mar 2026 | $0 |
| Feb 2026 | $0 |
| Jan 2026 | +$1.6M |
| Dec 2025 | +$796K |
| Nov 2025 | +$1.6M |
| Oct 2025 | +$2.4M |
| Sep 2025 | +$3.1M |
| Aug 2025 | −$1.6M |
| Jul 2025 | $0 |
| Jun 2025 | $0 |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 21 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BUFRFT Vest Laddered Buffer ETF | — | 0.95% | $10.9B | +12.7% | compare |
| BALTInnovator Defined Wealth Shield ETF | — | 0.69% | $3.2B | +6.7% | compare |
| BUFDFT Vest Laddered Deep Buffer ETF | — | 0.95% | $2.2B | +10.4% | compare |
| BUFQFT Vest Laddered Nasdaq Buffer ETF | — | 1.00% | $1.7B | +14.8% | compare |
| FJANFT Vest U.S. Equity Buffer ETF - January | — | 0.85% | $1.5B | +13.4% | compare |
The largest other funds in the Buffer category.
- Authorized participants
- 4 active of 23 with agreements; top 3 did 97%
- Created · redeemed
- $32M · $26M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 25,000 shares
- Securities lending
- authorized, none lent
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 7.46 | 98.61% | Derivative | — |
| — | 2027-09-17 State Street® SPDR® S&P 500® ETF Trust P 761.54 | 4.56% | Derivative | — |
| — | US Dollar | 1.15% | Cash/Money Market | — |
| — | 2027-09-17 State Street® SPDR® S&P 500® ETF Trust C 824.45 | -4.31% | Derivative | — |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Derivative (equity) | 99.46% | $31.0M | 12 |
| Short-term investment | 0.61% | $190785 | 1 |
| Month | '24 | '25 | '26 | Avg |
|---|---|---|---|---|
| Jan | -- | 0.76% | 0.41% | 0.58% |
| Feb | -- | 0.15% | -0.03% | 0.06% |
| Mar | -- | -0.78% | -1.01% | -0.90% |
| Apr | -- | 0.04% | 2.01% | 1.02% |
| May | -- | 1.70% | 0.86% | 1.28% |
| Jun | -- | 1.42% | 0.24% | 0.83% |
| Jul | -- | 0.74% | 0.58% | 0.66% |
| Aug | -- | 1.16% | 0.54% | 0.85% |
| Sep | -0.02% | 0.56% | 0.36% | 0.30% |
| Oct | -0.11% | 0.33% | 0.36%* | 0.19% |
| Nov | 1.00% | 0.21% | -- | 0.60% |
| Dec | -0.17% | 0.62% | -- | 0.22% |
| Total | 0.70% | 7.11% | 4.38% | 4.06% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL (confidence level 6/10)
Key Drivers:
- Strong technical momentum, with MACD signal line crossover indicating bullish momentum
- Recent price action has been trending upwards, but RSI is overbought, suggesting potential for a pullback
Primary Risks:
- Overextended RSI could lead to a correction or reversal
- Lack of recent news headlines may reduce market interest and volatility
Investment Thesis: SEPM's technical momentum remains strong, with the MACD signal line crossover indicating bullish momentum. However, the overbought RSI suggests potential for a pullback. A cautious approach is recommended, focusing on risk management and monitoring key levels.
Recent News Sentiment Impact: No recent news headlines available, which may reduce market interest and volatility.
Technical Analysis
Trend Direction: Short-term uptrend (1-4 weeks), Medium-term uptrend (1-3 months), Long-term neutral (3-12 months)
Support/Resistance Levels: Key price levels include:
- Resistance: $32.75 (upper Bollinger Band)
- Support: $32.41 (lower Bollinger Band), $31.78 (SMA 200)
Momentum Signals:
- RSI interpretation: Overbought (>70), suggesting potential for a pullback
- MACD signal line crossover: Bullish, indicating momentum is building
- Bollinger Bands position: Squeeze, indicating volatility is increasing
Volume Analysis: Volume trends and institutional interest signals:
- Volume SMA 20: 3137.60 (stable)
- On-Balance Volume (OBV): 779335.28 (positive)
- Volume Rate of Change: 51.35% (increasing)
News & Sentiment Analysis
Recent Headlines Summary: No recent news headlines available.
Sentiment Assessment: Neutral sentiment, with no recent news driving market interest.
Catalyst Identification: No upcoming earnings or product launches scheduled.
Market Narrative: The lack of recent news headlines may reduce market interest and volatility, making it challenging to determine the next direction for SEPM's price action.
Risk & Volatility Assessment
Beta Interpretation: Beta 0.20 (vs SPY), indicating low risk relative to the market.
Volatility Regime: Current volatility is relatively low compared to historical levels.
Options Market Signals: IV Premium vs HV30: N/A (positive = implied richer than realized).
Downside Protection: Support levels include $32.41 (lower Bollinger Band) and $31.78 (SMA 200), which could provide protection in the event of a correction.
Market Context & Positioning
Sector Performance: SEPM's sector is neutral, with no significant changes or catalysts driving market interest.
Institutional Activity: Institutional volume patterns suggest a lack of significant buying or selling pressure.
Correlation Analysis: SEPM's correlation with the market (R-squared) is 0.93, indicating low volatility and stability relative to the market.
Relative Valuation: SEPM is trading within its established range, with no significant deviations from historical norms.
Key Levels & Action Items
Critical Price Levels:
- Resistance: $32.75 (upper Bollinger Band)
- Support: $32.41 (lower Bollinger Band), $31.78 (SMA 200)
Breakout/Breakdown Levels: No significant breakout or breakdown levels are currently evident.
Time-Sensitive Catalysts: No upcoming earnings or product launches scheduled.
Risk Management: Monitor key support and resistance levels, and consider adjusting position sizes based on market conditions and risk tolerance.
Note: This analysis is based solely on the provided data and does not include any additional information that may be available outside of this prompt.
SEPM Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 250
Period: 252 trading days
Low volatility - stock moves less than market
SEPM 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 |
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| # | Filer | Notional Value | % of Total | Period |
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