Zacks Investment ResearchT3·9h ago
SPHB Invesco S&P 500 High Beta ETF
ETF 136.89 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.
SPHB
$136.89
—
Key stats
$136.89
After hours
$136.30
-0.43%
- 52-Week Range
- $103.31 – $157.59
- YTD
- +15.00%
- IV Rank (30D)
- 67.59
- Straddle Price
- $10.75
- P/C Vol Ratio
- 0.51
- Open
- $140.04
- Day Range
- $135.63 – $140.87
- Volume
- 515,125
- Prev Close
- $143.99
About
Invesco S&P 500 High Beta ETF (SPHB) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2011-05-05
- Has Options
- Yes
- Homepage
- https://www.invesco.com/us/etfs
Fund profile
holdings as of Oct 20, 2026issuer datathrough May 2026flows, SEC filings
- Expense ratio
- 0.25% prospectus, filed Dec 18, 2025
- Assets
- $907M shares × price, Oct 21, 2026
- Trailing yield
- 0.53% paid quarterly
- Average daily volume
- $50M 30 sessions
- Holdings
- 101 top 10 are 19.8%
- Listed
- May 5, 2011 NYSE Arca
- Tracking difference
- -0.34 pts vs index, after fees, FY 2025
Cost64
Liquidity90
Scale72
Diversification94
Moves with. US large-cap stocks (55% of its variance, beta 1.39); Emerging markets over US (17% of its variance, beta 0.45); Small caps over large (9% of its variance, beta 0.60); Value over growth (7% of its variance, beta -0.19). These factors explain 86% of its daily moves over the last year.
Stated objective. The Invesco S&P 500 High Beta ETF (the Fund) seeks to track the investment results (before fees and expenses) of the S&P 500 High Beta Index (the Underlying Index). (from the fund's prospectus)
All 101 holdingsFlow historySimilar fundsOverlap toolAll Large Cap Blend ETFs
Fund flows
through May 2026SEC filings- May 2026
- +$95M latest reported month
- Latest 3 months
- +$228M +22.2% of assets
- Latest 12 months
- +$377M +36.7% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$95M |
| Apr 2026 | +$144M |
| Mar 2026 | −$11M |
| Feb 2026 | −$49M |
| Jan 2026 | +$59M |
| Dec 2025 | +$125M |
| Nov 2025 | −$98M |
| Oct 2025 | +$76M |
| Sep 2025 | +$22M |
| Aug 2025 | −$56M |
| Jul 2025 | +$63M |
| Jun 2025 | +$7.8M |
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 | |
|---|---|---|---|---|---|
| HIBLDirexion Daily S&P 500 High Beta Bull 3X ETF | 70% | — | $81M | +49.6% | compare |
| RSPTInvesco S&P 500 Equal Weight Technology ETF | 43% | 0.40% | $6.2B | +44.8% | compare |
| PALCPacer Lunt Large Cap Multi-Factor Alternator ETF | 40% | 0.60% | $194M | +4.7% | compare |
| RPGInvesco S&P 500 Pure Growth ETF | 39% | 0.35% | $1.8B | +16.6% | compare |
| PWBInvesco Large Cap Growth ETF | 33% | 0.55% | $2.6B | +21.8% | 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
- +8.4% 40% under, 27% over · 100% covered
- Price / earnings
- 36.2 11% loss-making · 100% covered
- Price / book · sales
- 4.7 · 2.9 revenue growth +14.9%
- Above 200-day average
- 52% 35% above 50-day · by weight
- Short interest
- 4.6% of float, weighted · 2.7 days to cover
- Insider buying
- 8% of weight had net insider buying, 90 days; 66% net selling
- 13F holders
- +2.0% change in shares held by institutions, latest quarter
- Reporting earnings
- 37.8% of weight in 7 days; 65.6% in 14
Holdings reporting in the next 14 days · weighted implied move this week 3.95%
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 | SNDKSandisk Corp. | — | 2.20% | — |
| New position | COHRCoherent Corp. | — | 1.53% | — |
| New position | CIENCiena Corp. | — | 1.32% | — |
| New position | LITELumentum Holdings Inc. | — | 1.27% | — |
| New position | VRTVertiv Holdings Co. | — | 1.14% | — |
| Exit | WBDWarner Bros. Discovery, Inc. | 1.11% | — | — |
| Exit | APAAPA Corp. | 1.09% | — | — |
| Exit | TPLTexas Pacific Land Corp. | 1.07% | — | — |
| New position | FSLRFirst Solar, Inc. | — | 1.04% | — |
| New position | GLWCorning Inc. | — | 1.01% | — |
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 Aug 31, 2025SEC census- Authorized participants
- 12 active of 41 with agreements; top 3 did 70%
- Created · redeemed
- $686M · $786M over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 10,000 shares
- Securities lending
- 5.52% of assets on loan on average; earned 0.8 bp
- Return vs index
- -0.34 pts after fees; -0.09 before; daily s.d. 0.09
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
102
AUM
$831.7M
Provider
Invesco
Inception
2011-05-05
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.25%
Dividend Yield
0.52%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-25 | $0.1391 | CD |
| 2026-06-22 | 2026-06-26 | $0.1911 | CD |
| 2026-03-23 | 2026-03-27 | $0.2341 | CD |
| 2025-12-22 | 2025-12-26 | $0.1912 | CD |
| 2025-09-22 | 2025-09-26 | $0.1967 | CD |
| 2025-06-23 | 2025-06-27 | $0.1657 | CD |
Asset Allocation
Top Holdings
top 50 of 102 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| MRNA | Moderna Inc | 3.60% | Equity (US) | US |
| SNDK | Sandisk Corp | 2.41% | Equity (US) | US |
| COIN | Coinbase Global Inc | 1.93% | Equity (US) | US |
| AMD | Advanced Micro Devices Inc | 1.92% | Equity (US) | US |
| MRVL | Marvell Technology Inc | 1.83% | Equity (US) | US |
| MU | Micron Technology Inc | 1.83% | Equity (US) | US |
| HOOD | Robinhood Markets Inc | 1.72% | Equity (US) | US |
| SMCI | Super Micro Computer Inc | 1.68% | Equity (US) | US |
| TER | Teradyne Inc | 1.48% | Equity (US) | US |
| LRCX | Lam Research Corp | 1.42% | Equity (US) | US |
| LITE | Lumentum Holdings Inc | 1.41% | Equity (US) | US |
| TSLA | Tesla Inc | 1.40% | Equity (US) | US |
| INTC | Intel Corp | 1.39% | Equity (US) | US |
| WDC | Western Digital Corp | 1.33% | Equity (US) | US |
| MPWR | Monolithic Power Systems Inc | 1.24% | Equity (US) | US |
| FCX | Freeport-McMoRan Inc | 1.22% | Equity (US) | US |
| ON | ON Semiconductor Corp | 1.21% | Equity (US) | US |
| KLAC | KLA Corp | 1.19% | Equity (US) | US |
| QCOM | QUALCOMM Inc | 1.16% | Equity (US) | US |
| CIEN | Ciena Corp | 1.15% | Equity (US) | US |
| GLW | Corning Inc | 1.15% | Equity (US) | US |
| COHR | Coherent Corp | 1.14% | Equity (US) | US |
| CCL | Carnival Corp Ltd | 1.13% | Equity (US) | US |
| AMAT | Applied Materials Inc | 1.10% | Equity (US) | US |
| FIX | Comfort Systems USA Inc | 1.10% | Equity (US) | US |
| APP | AppLovin Corp | 1.07% | Equity (US) | US |
| FLEX | Flex Ltd | 1.06% | Equity (Foreign) | SG |
| DELL | Dell Technologies Inc | 1.06% | Equity (US) | US |
| MCHP | Microchip Technology Inc | 1.05% | Equity (US) | US |
| XYZ | Block Inc | 1.04% | Equity (US) | US |
| VRT | Vertiv Holdings Co | 1.03% | Equity (US) | US |
| PLTR | Palantir Technologies Inc | 1.03% | Equity (US) | US |
| STX | Seagate Technology Holdings PLC | 1.03% | Equity (Foreign) | IE |
| CVNA | Carvana Co | 1.01% | Equity (US) | US |
| NXPI | NXP Semiconductors NV | 1.01% | Equity (Foreign) | NL |
| ANET | Arista Networks Inc | 1.01% | Equity (US) | US |
| NVDA | NVIDIA Corp | 1.01% | Equity (US) | US |
| HPE | Hewlett Packard Enterprise Co | 1.00% | Equity (US) | US |
| SNPS | Synopsys Inc | 0.99% | Equity (US) | US |
| IBKR | Interactive Brokers Group Inc | 0.96% | Equity (US) | US |
| GEV | GE Vernova Inc | 0.96% | Equity (US) | US |
| SWKS | Skyworks Solutions Inc | 0.96% | Equity (US) | US |
| KEYS | Keysight Technologies Inc | 0.95% | Equity (US) | US |
| AVGO | Broadcom Inc | 0.95% | Equity (US) | US |
| RVTY | Revvity Inc | 0.94% | Equity (US) | US |
| UAL | United Airlines Holdings Inc | 0.94% | Equity (US) | US |
| EL | Estee Lauder Cos Inc/The | 0.93% | Equity (US) | US |
| ZBRA | Zebra Technologies Corp | 0.92% | Equity (US) | US |
| META | Meta Platforms Inc | 0.92% | Equity (US) | US |
| ORCL | Oracle Corp | 0.91% | Equity (US) | US |
Geographic Breakdown
Non-Equity Breakdown
Invesco S&P 500 High Beta ETF ·
NPORT-P period 2026-05-31
(filed 2026-07-28)
Net assets:
$1.03B
· 103 total positions
· equity 102.09%
· non-equity 6.54%
Non-equity holdings
— 3 positions,
6.54% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 6.54% | $67.2M | 3 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.82% | -7.13% | 16.47% | -0.90% | 3.02% | 1.78% | 2.34% |
| Feb | 16.66% | -0.26% | -5.16% | 3.71% | -3.35% | 0.42% | 2.00% |
| Mar | 1.52% | 3.07% | -0.75% | 2.73% | -6.58% | -5.52% | -0.92% |
| Apr | 2.99% | -11.49% | -3.28% | -5.95% | 0.57% | 14.83% | -0.39% |
| May | 3.98% | -0.60% | 2.50% | 2.62% | 10.11% | 10.89% | 4.92% |
| Jun | -3.31% | -12.67% | 9.27% | 1.85% | 9.88% | 3.38% | 1.40% |
| Jul | -4.68% | 14.77% | 4.81% | 3.80% | 5.27% | -8.46% | 2.58% |
| Aug | 3.30% | -5.11% | -5.05% | 2.63% | 3.96% | 2.02% | 0.29% |
| Sep | -1.67% | -10.51% | -8.29% | 8.62% | 5.74% | 5.26% | -0.14% |
| Oct | 5.17% | 5.59% | -7.74% | -1.42% | 3.42% | -10.48%* | -0.91% |
| Nov | -4.45% | 8.97% | 13.93% | 7.00% | -1.71% | -- | 4.75% |
| Dec | 5.63% | -8.95% | 9.55% | -6.50% | 3.57% | -- | 0.66% |
| Total | 27.07% | -25.11% | 24.81% | 18.44% | 37.89% | 11.86% | 15.83% |
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: $148.97
SMA 50: $148.20
SMA 200: $137.14
Current: $136.89
EMA 12: $144.54
EMA 26: $146.96
MACD: -2.4216 | Signal: -1.5758
BEARISH
ADX (14): 25.00
WEAK TREND
+DI: 14.03
−DI: 43.50
Momentum Oscillators
RSI (14): 34.41
NEUTRAL
Stoch %K: 17.10
Stoch %D: 14.90
Williams %R: -94.28
Volume & Volatility
BB Upper: $160.84
BB Lower: $137.10
OVERSOLD
OBV: 12,475,811
Vol SMA 20: 362,688
Vol ROC: 19.97%
ATR: $3.94
True Range: $8.36
HV 20: 31.9%
HV 30: 31.6%
HV 60: 29.7%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
SPHB Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL with Confidence Level: 6/10
SPHB presents a mixed technical and sentiment picture with conflicting signals that warrant cautious observation. While the stock trades above all major moving averages with a bullish MACD crossover and positive news sentiment regarding growth and dividend characteristics, several warning signals temper the bullish case: elevated put/call ratios suggesting institutional hedging, a directionless ADX (10.80) indicating range-bound trading, and notably weak downside momentum (-DI: 30.59 > +DI: 27.14). The high beta (1.81) amplifies both upside and downside risks.
Primary Drivers: Positive dividend/growth narrative, price above all key moving averages, bullish MACD histogram (1.77), strong volume momentum (50.93% rate of change)
Primary Risks: Extreme put/call imbalance (54.50 volume ratio), weak trend strength (ADX 10.80), elevated implied volatility premium (17.8% above realized), institutional put accumulation
Investment Thesis: SPHB shows technical strength with price momentum above key moving averages and positive momentum indicators, but the options market is pricing significant downside risk with a 36.33 put/call open interest ratio and 54.50 volume ratio. This suggests institutional positioning for a material pullback despite constructive near-term price action.
Recent News Sentiment Impact: Positive (predominantly POSITIVE/NEUTRAL across 6 articles). News narrative emphasizes SPHB as a growth and dividend opportunity, aligning with recent price appreciation. However, these headlines appear dated (Oct 2026) relative to current technical setup, suggesting sentiment may not reflect latest market positioning.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): BULLISH with weakness signals
- Price at $154.16 trades 2.24% above SMA 20 ($150.80), 3.55% above SMA 50 ($148.74)
- 12-period EMA ($153.06) above 26-period EMA ($151.09) with positive spread (+$1.97)
- However, ADX of 10.80 indicates a ranging/low-conviction trend rather than strong directional movement
- -DI (30.59) exceeding +DI (27.14) by 3.45 points signals weakening upside momentum despite price strength
Medium-term (1-3 months): NEUTRAL-BULLISH
- Price 3.55% above SMA 50 and 13.29% above SMA 200 ($136.06)
- The 200-day moving average is in positive slope, supporting an underlying uptrend structure
- Large distance from 200-day (13.29%) suggests potential reversion risk if momentum breaks
Long-term (3-12 months): BULLISH
- Solid positioning above all three major moving averages in ascending order (200 < 50 < 20 < current)
- Alpha of 0.07 indicates marginal outperformance on a risk-adjusted basis
Support/Resistance Levels
| Level | Type | Technical Basis | Distance | |-------|------|-----------------|----------| | $159.49 | Resistance | Bollinger Upper Band | +3.46% | | $154.16 | Current | Price | Reference | | $150.80 | Support | SMA 20 | -2.18% | | $148.74 | Support | SMA 50 | -3.55% | | $142.11 | Support | Bollinger Lower Band | -7.80% | | $136.06 | Key Support | SMA 200 | -11.75% |
Critical Observation: Support cluster between $148-151 (20/50 SMA convergence) represents first line of defense. Breakdown below $148.74 would signal loss of intermediate-term uptrend structure. SMA 200 at $136.06 represents psychological floor; breach would be significant.
Momentum Signals
RSI (14): 56.35 — NEUTRAL
- Reading firmly in neutral zone (30-70), neither overbought nor oversold
- Positioned slightly above midpoint (50), suggesting mild bullish lean without extremity
- Room to extend higher without overbought conditions; room to decline without oversold warning
MACD: BULLISH CROSSOVER
- MACD line (1.96) significantly above signal line (0.19)
- Histogram of +1.77 represents strong positive divergence
- MACD approaching overbought territory on the indicator itself, but histogram expansion suggests momentum acceleration
- Interpretation: Bullish momentum is present and likely to persist in near term (1-2 weeks)
Stochastic Oscillators: MIXED SIGNALS
- %K at 58.74 remains in neutral zone
- %D at 72.99 is in overbought territory (>70), signaling potential mean reversion
- K < D configuration represents a bearish crossover setup if %K continues to roll over
- This represents a divergence warning: momentum indicators suggest pullback potential despite price strength
Williams %R (-39.61): NEUTRAL
- Positioned between -50 and -20, neither extreme
- Slight bullish bias but no overbought warning
Bollinger Bands: NEUTRAL SQUEEZE
- Price at $154.16 positioned between middle band ($150.80) and upper band ($159.49)
- Band width of 11.52 is moderate, not at extreme compression or extreme expansion
- Price in upper half of band but not touching upper resistance
- Signal: Neither breakout compression nor mean-reversion squeeze evident; normal trading range
Volume Analysis
Volume Trends: STRONG BULLISH VOLUME BEHAVIOR
- Volume Rate of Change: +50.93% — Significantly elevated
- Current volume is ~51% above the 20-day average (282,874)
- This suggests institutional accumulation and strong conviction on the upside
- OBV at 12,103,124 continuing to climb (though absolute level less meaningful than trend)
Institutional Interest Indicators:
- Elevated volume on move higher indicates institutional buying during advance
- Positive Volume Rate of Change typically precedes price continuation
- However: This must be reconciled against the extreme put/call ratios noted below
News & Sentiment Analysis
Recent Headlines Summary
Key Themes (6 articles analyzed):
-
Dividend Income Focus (Articles 1, 6 — Oct 9, Sep 7)
- SPHB positioned as "high-growth dividend stock"
- Suggests institutional repositioning toward income-producing assets
- Consistent with recent AUM growth narrative
-
Asset Growth Momentum (Article 5 — Sep 14)
- "Invesco's AUM Rises in August: Will the Momentum Continue?"
- Directly positive for SPHB given asset-based fee model
- AUM growth drives revenue expansion
-
Value Characteristics (Article 3 — Sep 30)
- Described as "strong value stock"
- Contradicts pure growth narrative, suggests repositioning as defensive growth
- May indicate analyst recalibration of company thesis
-
General Affirmation (Articles 2, 4 — Oct 7, Sep 23)
- "Top growth stock for long-term" / "Could be great choice"
- Positive framing but generic language
- Limited specificity on catalysts
Sentiment Assessment
Aggregate News Sentiment: POSITIVE (4 of 6 articles clearly positive)
- 4 POSITIVE articles
- 2 NEUTRAL articles
- 0 NEGATIVE articles
- Sentiment ratio: 67% positive, 33% neutral, 0% negative
Sentiment Consistency: High — news narrative has remained consistently constructive across 5+ weeks, with central theme of growth + dividend appeal
Data Quality Concern: All headlines dated September-October 2026, suggesting this analysis may be using forward-looking or simulated data. Most recent article is 2026-10-09 (5 days prior to implied analysis date).
Catalyst Identification
Immediate (1-7 days):
- No specific catalysts identified in available data
- No earnings announcement date provided
- No FDA approvals or regulatory events noted
Near-term (1-4 weeks):
- Ongoing AUM growth monitoring (favorable trend)
- Potential analyst reports given recent positive commentary
- End-of-quarter positioning (Q3 likely closed)
**Medium-term
Generated
News
All SPHB news →
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SPHB Options Activity & IV Rank
SPHB IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 34.6%
7-DTE IV: —
Expected Move: $10.75
7-DTE Move: $10.75
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 228
Put Volume: 116
P/C Volume: 0.509
BULLISH
Call OI: 645
Put OI: 539
P/C OI: 0.836
Total OI: 1,184
ATM Options Pricing
ATM Call: $5.40
ATM Put: $5.35
Call %: 3.9%
Put %: 3.9%
Chain Summary
Chain Volume: 514
Chain OI: 1,630
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 72nd 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
72%
vs own history
GEX tilt
-0.03
OI-weighted, today
Vanna tilt
+0.51
δ-sensitivity to IV
Charm tilt
-0.51
δ-decay vs time
Vanna tilt +0.51: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.51: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 12 ATM contracts, 1k 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
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—
pts
EXTREME
No data
30 DTE / 10d
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—
pts
EXTREME
ATM 35.0% / 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
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)67.6MediumOct 22
Straddle Price (30 DTE)$10.75Oct 22
Beta Analysis
Risk Metrics
Beta: 1.8700
Alpha: -2.32%
Correlation: 0.8551
R-Squared: 73.1%
Stock Volatility: 27.9%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
SPHB Institutional Ownership (13F)
Latest filings — 2026-09-30
? 13F Guide
Diluted shares outstanding: 454,425,000 (as of 2026-06-30)
Institutional 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$4.61M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $3.81M | 82.77% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $560.12K | 12.16% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $233.38K | 5.07% | 2026-06-30 |
3 filers$3.83M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $3.25M | 84.96% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $326.74K | 8.54% | 2026-06-30 |
| 3 | Belvedere Trading LLC | $248.94K | 6.50% | 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
837.95K
SI % of Float
13.30%
Days to Cover
3.26
Short Vol Ratio
63.3%
Free Float
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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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