Vanguard's large-cap fund delivered 47% more wealth over five years, but State Street's small-cap strategy offers lower volatility and higher income.
SLYG State Street SPDR S&P 600 Small Cap Growth ETF
ETF 108.16 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.
SLYG
$108.16
—
Key stats
$108.16
- 52-Week Range
- $88.67 – $119.84
- YTD
- +13.52%
- IV Rank (30D)
- 41.93
- Straddle Price
- $4.72
- P/C Vol Ratio
- 0.67
- Open
- $108.45
- Day Range
- $107.69 – $108.56
- Volume
- 156,845
- Prev Close
- $107.87
About
State Street SPDR S&P 600 Small Cap Growth ETF (SLYG) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2000-09-25
- Has Options
- Yes
- Homepage
- https://www.ssga.com/us/en/individual/etfs
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.15% issuer, Oct 21, 2026
- Assets
- $4.6B issuer-reported, Oct 19, 2026
- Trailing yield
- 0.72% paid quarterly
- Average daily volume
- $19M 30 sessions
- Holdings
- 350 top 10 are 9.4%
- Listed
- Sep 25, 2000 NYSE Arca
- Net asset value
- $106.44 issuer, Oct 19, 2026 · closed +0.04% to NAV
- Median bid/ask spread
- 0.05% 30 days, issuer-reported
- 30-day SEC yield
- 0.87% issuer
- Tracking difference
- -0.22 pts vs index, after fees, FY 2026
Cost78
Liquidity76
Scale99
Diversification100
Moves with. US large-cap stocks (63% of its variance, beta 1.06); Small caps over large (34% of its variance, beta 0.79). These factors explain 91% of its daily moves over the last year.
Stated objective. The State Street SPDR S&P 600 Small Cap Growth 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 small capitalization exchange traded U.S. equity securities exhibiting growth characteristics. (from the fund's prospectus)
All 350 holdingsFlow historySimilar fundsOverlap toolAll Small Cap Growth ETFs
Fund flows
daily as of Oct 16, 2026issuer datathrough Jun 2026SEC filings- Oct 16, 2026
- −$11M latest day
- Latest 5 trading days
- −$21M
- Latest 21 trading days
- −$5.2M −0.1% of assets
- Year to date
- +$627M +$647M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 16, 2026 | −$11M |
| Oct 15, 2026 | −$3K |
| Oct 14, 2026 | $0 |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | −$11M |
| Oct 9, 2026 | $0 |
| Oct 8, 2026 | $0 |
| Oct 7, 2026 | $0 |
| Oct 6, 2026 | $0 |
| Oct 5, 2026 | $0 |
| Oct 2, 2026 | +$5.5M |
| Oct 1, 2026 | $0 |
| Sep 30, 2026 | $0 |
| Sep 29, 2026 | +$5.4M |
| Sep 28, 2026 | $0 |
| Sep 25, 2026 | +$5.4M |
| Sep 24, 2026 | $0 |
| Sep 23, 2026 | $0 |
| Sep 22, 2026 | $0 |
| Sep 21, 2026 | $0 |
| Sep 18, 2026 | $0 |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$29M latest reported month
- Latest 3 months
- +$262M +5.0% of assets
- Latest 12 months
- +$554M +10.7% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$29M |
| May 2026 | +$16M |
| Apr 2026 | +$217M |
| Mar 2026 | +$17M |
| Feb 2026 | +$337M |
| Jan 2026 | −$49M |
| Dec 2025 | +$5.0M |
| Nov 2025 | −$51M |
| Oct 2025 | +$71M |
| Sep 2025 | +$14M |
| Aug 2025 | −$4.6M |
| Jul 2025 | −$50M |
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 | |
|---|---|---|---|---|---|
| VIOGVanguard S&P Small-Cap 600 Growth ETF | 100% | 0.10% | $1.0B | +15.5% | compare |
| IJTiShares S&P Small-Cap 600 Growth ETF | 99% | 0.18% | $7.6B | +15.2% | compare |
| SPSMState Street SPDR Portfolio S&P 600 Small Cap ETF | 62% | 0.03% | $15.5B | +16.7% | compare |
| XJRiShares ESG Select Screened S&P Small-Cap ETF | 62% | 0.12% | $209M | +15.8% | compare |
| IJRiShares Core S&P Small-Cap ETF | 62% | 0.06% | $103.1B | +17.1% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 19, 2026issuer data- Holdings vs fair value
- +12.1% 44% under, 28% over · 100% covered
- Price / earnings
- 24.5 10% loss-making · 99% covered
- Price / book · sales
- 2.8 · 1.5 revenue growth +10.8%
- Above 200-day average
- 51% 40% above 50-day · by weight
- Short interest
- 9.2% of float, weighted · 5.5 days to cover
- Insider buying
- 7% of weight had net insider buying, 90 days; 58% net selling
- 13F holders
- +3.2% change in shares held by institutions, latest quarter
- Reporting earnings
- 24.7% of weight in 7 days; 68.6% in 14
Holdings reporting in the next 14 days · weighted implied move this week 2.83%
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 | VIAVViavi Solutions Inc | 1.02% | — | — |
| Exit | SANMSanmina Corp | 0.94% | — | — |
| Exit | DOCNDigitalOcean Holdings Inc | 0.90% | — | — |
| Exit | SMTCSemtech Corp | 0.66% | — | — |
| New position | LQDALiquidia Corp | — | 0.61% | — |
| Exit | APLSApellis Pharmaceuticals Inc | 0.55% | — | — |
| Exit | ALAir Lease Corp | 0.52% | — | — |
| Exit | SEESealed Air Corp | 0.49% | — | — |
| Increase | BTSGBrightSpring Health Services Inc | 0.75% | 1.21% | +19.6% |
| New position | ALHCAlignment Healthcare Inc | — | 0.43% | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.8%. Full holdings and history
Under the hood
fiscal year to Jun 30, 2026SEC census- Authorized participants
- 9 active of 41 with agreements; top 3 did 79%
- Created · redeemed
- $962M · $378M over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 17.90% of assets on loan on average; earned 2.8 bp
- Return vs index
- -0.22 pts after fees; -0.02 before; daily s.d. 0.05
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
350
AUM
$4.6B
Provider
SPDR (State Street)
Inception
2000-09-25
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.15%
Dividend Yield
0.72%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.2487 | CD |
| 2026-06-22 | 2026-06-24 | $0.2294 | CD |
| 2026-03-23 | 2026-03-25 | $0.1803 | CD |
| 2025-12-22 | 2025-12-24 | $0.1226 | CD |
| 2025-09-22 | 2025-09-24 | $0.2293 | CD |
| 2025-06-23 | 2025-06-25 | $0.2396 | CD |
Asset Allocation
Top Holdings
top 50 of 350 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| PTGX | PROTAGONIST THERAPEUTICS INC | 1.09% | Equity (US) | US |
| RHP | RYMAN HOSPITALITY PROPERTIES | 1.09% | Equity (US) | US |
| VSAT | VIASAT INC | 1.01% | Equity (US) | US |
| TGTX | TG THERAPEUTICS INC | 0.95% | Equity (US) | US |
| ETSY | ETSY INC | 0.91% | Equity (US) | US |
| ALKS | ALKERMES PLC | 0.91% | Equity (Foreign) | IE |
| AWI | ARMSTRONG WORLD INDUSTRIES | 0.88% | Equity (US) | US |
| MSGS | MADISON SQUARE GARDEN SPORTS | 0.87% | Equity (US) | US |
| GKOS | GLAUKOS CORP | 0.86% | Equity (US) | US |
| ZWS | ZURN ELKAY WATER SOLUTIONS C | 0.86% | Equity (US) | US |
| FSS | FEDERAL SIGNAL CORP | 0.86% | Equity (US) | US |
| LYFT | LYFT INC A | 0.80% | Equity (US) | US |
| ESE | ESCO TECHNOLOGIES INC | 0.78% | Equity (US) | US |
| SNEX | STONEX GROUP INC | 0.76% | Equity (US) | US |
| NPO | ENPRO INC | 0.75% | Equity (US) | US |
| LGND | LIGAND PHARMACEUTICALS | 0.75% | Equity (US) | US |
| CWST | CASELLA WASTE SYSTEMS INC A | 0.71% | Equity (US) | US |
| SXT | SENSIENT TECHNOLOGIES CORP | 0.70% | Equity (US) | US |
| LTH | LIFE TIME GROUP HOLDINGS INC | 0.69% | Equity (US) | US |
| FTDR | FRONTDOOR INC | 0.68% | Equity (US) | US |
| JBTM | JBT MAREL CORP | 0.67% | Equity (US) | US |
| ECG | EVERUS CONSTRUCTION GROUP | 0.66% | Equity (US) | US |
| PTCT | PTC THERAPEUTICS INC | 0.64% | Equity (US) | US |
| PI | IMPINJ INC | 0.63% | Equity (US) | US |
| AROC | ARCHROCK INC | 0.63% | Equity (US) | US |
| AX | AXOS FINANCIAL INC | 0.62% | Equity (US) | US |
| URBN | URBAN OUTFITTERS INC | 0.61% | Equity (US) | US |
| TRNO | TERRENO REALTY CORP | 0.61% | Equity (US) | US |
| LAUR | LAUREATE EDUCATION INC | 0.60% | Equity (US) | US |
| AGX | ARGAN INC | 0.60% | Equity (US) | US |
| KGS | KODIAK GAS SERVICES INC | 0.59% | Equity (US) | US |
| GVA | GRANITE CONSTRUCTION INC | 0.59% | Equity (US) | US |
| VIRT | VIRTU FINANCIAL INC CLASS A | 0.59% | Equity (US) | US |
| POWL | POWELL INDUSTRIES INC | 0.58% | Equity (US) | US |
| ACA | ARCOSA INC | 0.57% | Equity (US) | US |
| ENVA | ENOVA INTERNATIONAL INC | 0.55% | Equity (US) | US |
| PSMT | PRICESMART INC | 0.54% | Equity (US) | US |
| VSEC | VSE CORP | 0.54% | Equity (US) | US |
| KRMN | KARMAN HOLDINGS INC | 0.54% | Equity (US) | US |
| YOU | CLEAR SECURE INC CLASS A | 0.53% | Equity (US) | US |
| CVSA | COVISTA INC | 0.53% | Equity (US) | US |
| INSW | INTERNATIONAL SEAWAYS INC | 0.53% | Equity (US) | US |
| IBP | INSTALLED BUILDING PRODUCTS | 0.53% | Equity (US) | US |
| MYRG | MYR GROUP INC/DELAWARE | 0.52% | Equity (US) | US |
| OPLN | OPENLANE INC | 0.52% | Equity (US) | US |
| SEI | SOLARIS ENERGY INFRASTRUCTUR | 0.51% | Equity (US) | US |
| MRCY | MERCURY SYSTEMS INC | 0.51% | Equity (US) | US |
| CHEF | CHEFS WAREHOUSE INC/THE | 0.51% | Equity (US) | US |
| INDV | INDIVIOR PHARMACEUTICALS INC | 0.50% | Equity (US) | US |
| ESI | ELEMENT SOLUTIONS INC | 0.50% | Equity (US) | US |
Non-Equity Breakdown
State Street(R) SPDR(R) S & P 600(TM) Small Cap Growth ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-28)
Net assets:
$5.20B
· 351 total positions
· equity 99.90%
· non-equity 2.60%
Non-equity holdings
— 4 positions,
2.60% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 2.60% | $135.1M | 3 |
| Derivative (equity) | 0.00% | $17244 | 1 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 7.06% | -10.69% | 7.68% | -1.64% | 3.93% | 3.62% | 1.66% |
| Feb | 2.22% | -0.34% | -2.41% | 3.03% | -4.97% | 1.64% | -0.14% |
| Mar | -1.72% | 1.92% | -4.35% | 2.18% | -3.91% | -5.65% | -1.92% |
| Apr | 0.15% | -10.46% | -3.29% | -4.03% | -3.00% | 10.59% | -1.67% |
| May | -0.32% | 0.46% | 0.03% | 4.98% | 5.17% | 0.68% | 1.83% |
| Jun | 0.24% | -8.00% | 6.52% | -1.59% | 3.63% | 9.79% | 1.76% |
| Jul | -0.58% | 10.86% | 4.65% | 10.95% | -0.09% | -2.92% | 3.81% |
| Aug | 2.48% | -4.79% | -2.72% | 1.12% | 7.16% | -3.49% | -0.04% |
| Sep | -4.27% | -8.11% | -7.04% | 3.91% | 0.94% | -4.44% | -3.17% |
| Oct | 2.41% | 7.17% | -4.00% | -2.42% | -1.41% | 0.64%* | 0.40% |
| Nov | -3.85% | 4.02% | 7.02% | 10.78% | 2.25% | -- | 4.04% |
| Dec | 6.00% | -7.29% | 9.08% | -9.89% | -0.48% | -- | -0.52% |
| Total | 9.57% | -24.75% | 9.85% | 16.59% | 8.78% | 9.45% | 4.91% |
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: $107.91
SMA 50: $111.22
SMA 200: $107.47
Current: $108.16
EMA 12: $107.69
EMA 26: $108.66
MACD: -0.9627 | Signal: 0.1831
BEARISH
ADX (14): 38.96
TREND
+DI: 18.62
−DI: 28.23
Momentum Oscillators
RSI (14): 46.98
NEUTRAL
Stoch %K: 41.20
Stoch %D: 29.96
Williams %R: -43.52
Volume & Volatility
BB Upper: $109.70
BB Lower: $106.11
NEUTRAL
OBV: -3,015,983
Vol SMA 20: 209,784
Vol ROC: 31.78%
ATR: $1.38
True Range: $0.87
HV 20: 13.2%
HV 30: 12.2%
HV 60: 13.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Overall assessment: BEARISH (confidence level: 6/10)
Key drivers:
- Bearish MACD signal with a histogram below -1.41, indicating potential sell pressure
- Oversold RSI reading at 28.96, suggesting a possible bounce or correction
- Negative news sentiment from recent Fed Chair testimony and inflation reports
Primary risks:
- Potential for further price decline if market conditions remain bearish
- High volatility may lead to increased trading activity and market uncertainty
Investment thesis:
SLYG's recent performance has been impacted by macroeconomic factors, including inflation concerns. The ETF's exposure to small-cap growth stocks may amplify market moves, making it more susceptible to volatility. A sustained rally will require a shift in investor sentiment or improved economic indicators.
Recent news sentiment impact:
The negative news headlines from the Fed Chair testimony and recent inflation reports have weighed on SLYG's performance. While some news articles have been neutral or positive, the overall tone has been bearish, contributing to the ETF's decline.
Technical Analysis
Trend direction: Short-term (1-4 weeks): BEARISH, Medium-term (1-3 months): NEUTRAL, Long-term (3-12 months): BULLISH
Support/resistance levels:
- Lower Bollinger Band: $107.78
- Middle Band: $112.57
- Upper Band: $117.36
- SMA 20: $112.57
- SMA 50: $114.90
- SMA 200: $106.12
Momentum signals:
- RSI interpretation: Oversold (28.96), potential buy signal or correction
- MACD signal: Bearish, suggesting sell pressure
- Bollinger Bands position: Squeeze, indicating potential volatility increase
Volume analysis:
- Volume SMA 20: 121025.80
- On-Balance Volume (OBV): -2655928.05
- Volume Rate of Change: 14.95%
News & Sentiment Analysis
Recent headlines summary:
The news headlines have been predominantly bearish, with only two neutral articles. The majority of the headlines have focused on macroeconomic concerns and market volatility.
Sentiment assessment: NEUTRAL (due to mixed news sentiment)
Catalyst identification:
- Upcoming earnings reports from SLYG's underlying holdings
- Potential shift in investor sentiment or improved economic indicators
Market narrative:
The recent bearish trend has been driven by inflation concerns and macroeconomic factors. A sustained rally will require a change in market conditions or improved fundamentals.
Risk & Volatility Assessment
Risk assessment: HIGH (beta >1.05, high volatility, negative news sentiment)
Volatility regime: CURRENT VOLATILITY IS HIGHER THAN HISTORICAL LEVELS
Options market signals:
- IV Rank: 8.0% (Low - shows if volatility is historically high/low)
- Current IV: 22.8%
- Expected Move: $3.97 (28 DTE), 7-DTE: $3.50
- Volume Flow: 4 calls vs 0 puts
- Open Interest: 0 calls vs 0 puts
- Put/Call Volume Ratio: 0.00 (Bullish sentiment)
- Market Expectation: Options market pricing $3.97 move by expiration
Downside protection:
- Support levels: Lower Bollinger Band ($107.78), SMA 200 ($106.12)
- Risk management considerations: Stop-loss levels and position sizing based on volatility
Market Context & Positioning
Sector performance: SLYG is underperforming the broader market (S&P 500)
Institutional activity: Volume patterns suggesting institutional interest in selling
Correlation analysis:
- R-squared interpretation: SLYG moves with market amplification (0.79)
Relative valuation: SLYG is trading within its historical range, but above its 50-day moving average
Key Levels & Action Items
Critical price levels:
- Lower Bollinger Band ($107.78)
- SMA 200 ($106.12)
Breakout/breakdown levels:
- Upper Bollinger Band ($117.36)
- SMA 20 ($112.57)
Time-sensitive catalysts:
- Upcoming earnings reports from SLYG's underlying holdings
- Potential shift in investor sentiment or improved economic indicators
Risk management:
- Stop-loss levels: $108.00 and $105.00
- Position sizing considerations: Adjust portfolio weights based on volatility
Generated
News
All SLYG news →
SLYG Options Activity & IV Rank
SLYG IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 18.8%
7-DTE IV: —
Expected Move: $4.72
7-DTE Move: $4.72
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 6
Put Volume: 4
P/C Volume: 0.667
BULLISH
Call OI: 2
Put OI: 4
P/C OI: 2.0
Total OI: 6
ATM Options Pricing
ATM Call: $1.68
ATM Put: $3.05
Call %: 1.5%
Put %: 2.8%
Chain Summary
Chain Volume: 17
Chain OI: 12
Last Updated: 10/21/2026
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.
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
as of Oct 21 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · ATM 18.1% / 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)41.9MediumOct 21
Straddle Price (30 DTE)$4.72Oct 21
Beta Analysis
Risk Metrics
Beta: 1.0346
Alpha: -1.35%
Correlation: 0.7848
R-Squared: 61.6%
Stock Volatility: 16.7%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Above average volatility - stock moves with market amplification
Above average volatility - stock moves with market amplification
Beta & Alpha Over Time
SLYG 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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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
41.69K
SI % of Float
0.09%
Days to Cover
1.00
Short Vol Ratio
29.3%
Free Float
—
Float %
—
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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