Zacks Investment ResearchT3·7d ago
SPHQ Invesco S&P 500 Quality ETF
ETF 83.84 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.
SPHQ
$83.84
—
Key stats
$83.84
- 52-Week Range
- $71.57 – $90.36
- YTD
- +11.18%
- IV Rank (30D)
- 73.76
- Straddle Price
- $0.00
- P/C Vol Ratio
- 15.82
- Open
- $83.73
- Day Range
- $83.33 – $84.05
- Volume
- 1,314,421
- Prev Close
- $84.59
About
Invesco S&P 500 Quality ETF (SPHQ) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2005-12-06
- Has Options
- Yes
- Homepage
- https://www.invesco.com/us/etfs
Fund profile
holdings as of Oct 20, 2026issuer datathrough Jul 2026flows, SEC filings
- Expense ratio
- 0.15% prospectus, filed Aug 27, 2025
- Assets
- $18.9B shares × price, Oct 21, 2026
- Trailing yield
- 1.03% paid quarterly
- Average daily volume
- $94M 30 sessions
- Holdings
- 104 top 10 are 43.6%
- Listed
- Dec 6, 2005 NYSE Arca
- Tracking difference
- -0.20 pts vs index, after fees, FY 2026
Cost87
Liquidity99
Scale100
Diversification66
Moves with. US large-cap stocks (75% of its variance, beta 1.06); Emerging markets over US (14% of its variance, beta 0.23); Small caps over large (4% of its variance, beta 0.17). These factors explain 76% of its daily moves over the last year.
Stated objective. The Invesco S&P 500 Quality ETF (the Fund) seeks to track the investment results (before fees and expenses) of the S&P 500 Quality Index (the Underlying Index). (from the fund's prospectus)
All 104 holdingsFlow historySimilar fundsOverlap toolAll Quality ETFs
Fund flows
through Jul 2026SEC filings- Jul 2026
- +$331M latest reported month
- Latest 3 months
- +$1.4B +7.3% of assets
- Latest 12 months
- +$2.1B +10.7% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$331M |
| Jun 2026 | +$403M |
| May 2026 | +$682M |
| Apr 2026 | +$296M |
| Mar 2026 | +$140M |
| Feb 2026 | +$223M |
| Jan 2026 | +$179M |
| Dec 2025 | +$29M |
| Nov 2025 | +$35M |
| Oct 2025 | −$282M |
| Sep 2025 | −$338M |
| Aug 2025 | +$383M |
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 | |
|---|---|---|---|---|---|
| XPNDFirst Trust Expanded Technology ETF | 40% | 0.65% | $39M | +4.8% | compare |
| QVMTInvesco S&P 500 Concentrated QVM ETF | 40% | 0.13% | $128M | — | compare |
| QUALiShares MSCI USA Quality Factor ETF | 40% | 0.15% | $48.7B | +15.6% | compare |
| DUHPU.S. High Relative Profitability Portfolio ETF Class Shares | 39% | 0.22% | $11.3B | +12.8% | compare |
| QUSAVistaShares Target 15 USA Quality Income ETF | 39% | 0.97% | $21M | −11.3% | 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
- +3.2% 30% under, 38% over · 100% covered
- Price / earnings
- 25.0 0% loss-making · 100% covered
- Price / book · sales
- 9.8 · 4.3 revenue growth +11.0%
- Above 200-day average
- 68% 62% above 50-day · by weight
- Short interest
- 2.5% of float, weighted · 2.9 days to cover
- Insider buying
- 0% of weight had net insider buying, 90 days; 77% net selling
- 13F holders
- +1.1% change in shares held by institutions, latest quarter
- Reporting earnings
- 43.3% of weight in 7 days; 62.4% in 14
Holdings reporting in the next 14 days · weighted implied move this week 3.03%
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
Jan 31, 2026 → Apr 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Exit | PAYCPaycom Software, Inc. | 0.07% | — | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.7%. Full holdings and history
Under the hood
fiscal year to Apr 30, 2026SEC census- Authorized participants
- 12 active of 40 with agreements; top 3 did 85%
- Created · redeemed
- $7.3B · $5.4B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 10,000 shares
- Securities lending
- 0.58% of assets on loan on average; earned 0.1 bp
- Return vs index
- -0.20 pts after fees; -0.01 before; daily s.d. 0.10
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-20
Holdings
105
AUM
$18.9B
Provider
Invesco
Inception
2005-12-06
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.15%
Dividend Yield
1.03%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-25 | $0.1541 | CD |
| 2026-06-22 | 2026-06-26 | $0.2044 | CD |
| 2026-03-23 | 2026-03-27 | $0.2845 | CD |
| 2025-12-22 | 2025-12-26 | $0.2257 | CD |
| 2025-09-22 | 2025-09-26 | $0.2187 | CD |
| 2025-06-23 | 2025-06-27 | $0.1690 | CD |
Asset Allocation
Top Holdings
top 50 of 105 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| MA | Mastercard Inc | 6.33% | Equity (US) | US |
| V | Visa Inc | 6.27% | Equity (US) | US |
| AAPL | Apple Inc | 5.80% | Equity (US) | US |
| COST | Costco Wholesale Corp | 4.23% | Equity (US) | US |
| GEV | GE Vernova Inc | 3.76% | Equity (US) | US |
| LRCX | Lam Research Corp | 3.62% | Equity (US) | US |
| NFLX | Netflix Inc | 3.60% | Equity (US) | US |
| CSCO | Cisco Systems Inc | 3.49% | Equity (US) | US |
| GE | General Electric Co | 3.34% | Equity (US) | US |
| PG | Procter & Gamble Co/The | 3.18% | Equity (US) | US |
| SNDK | Sandisk Corp | 2.70% | Equity (US) | US |
| QCOM | QUALCOMM Inc | 2.47% | Equity (US) | US |
| TXN | Texas Instruments Inc | 2.26% | Equity (US) | US |
| AMAT | Applied Materials Inc | 2.13% | Equity (US) | US |
| KLAC | KLA Corp | 2.12% | Equity (US) | US |
| WDC | Western Digital Corp | 2.09% | Equity (US) | US |
| NEM | Newmont Corp | 1.83% | Equity (US) | US |
| FTNT | Fortinet Inc | 1.55% | Equity (US) | US |
| ISRG | Intuitive Surgical Inc | 1.54% | Equity (US) | US |
| TJX | TJX Cos Inc/The | 1.50% | Equity (US) | US |
| APP | AppLovin Corp | 1.44% | Equity (US) | US |
| PGR | Progressive Corp/The | 1.42% | Equity (US) | US |
| ACN | Accenture PLC | 1.29% | Equity (Foreign) | IE |
| ADBE | Adobe Inc | 1.25% | Equity (US) | US |
| STX | Seagate Technology Holdings PLC | 1.20% | Equity (Foreign) | IE |
| VLO | Valero Energy Corp | 1.18% | Equity (US) | US |
| ADP | Automatic Data Processing Inc | 1.16% | Equity (US) | US |
| PH | Parker-Hannifin Corp | 1.05% | Equity (US) | US |
| LMT | Lockheed Martin Corp | 1.05% | Equity (US) | US |
| JCI | Johnson Controls International plc | 0.98% | Equity (Foreign) | IE |
| MCO | Moody's Corp | 0.97% | Equity (US) | US |
| TT | Trane Technologies PLC | 0.94% | Equity (Foreign) | IE |
| ABNB | Airbnb Inc | 0.83% | Equity (US) | US |
| MMM | 3M Co | 0.83% | Equity (US) | US |
| ITW | Illinois Tool Works Inc | 0.79% | Equity (US) | US |
| TRV | Travelers Cos Inc/The | 0.78% | Equity (US) | US |
| ALL | Allstate Corp/The | 0.74% | Equity (US) | US |
| ROST | Ross Stores Inc | 0.73% | Equity (US) | US |
| CL | Colgate-Palmolive Co | 0.69% | Equity (US) | US |
| CTAS | Cintas Corp | 0.69% | Equity (US) | US |
| AMP | Ameriprise Financial Inc | 0.64% | Equity (US) | US |
| EBAY | eBay Inc | 0.62% | Equity (US) | US |
| IDXX | IDEXX Laboratories Inc | 0.59% | Equity (US) | US |
| NTAP | NetApp Inc | 0.56% | Equity (US) | US |
| FAST | Fastenal Co | 0.55% | Equity (US) | US |
| GWW | WW Grainger Inc | 0.52% | Equity (US) | US |
| ROK | Rockwell Automation Inc | 0.51% | Equity (US) | US |
| FIX | Comfort Systems USA Inc | 0.51% | Equity (US) | US |
| CIEN | Ciena Corp | 0.48% | Equity (US) | US |
| DXCM | Dexcom Inc | 0.48% | Equity (US) | US |
Non-Equity Breakdown
Invesco S&P 500 Quality ETF ·
NPORT-P period 2026-07-31
(filed 2026-09-28)
Net assets:
$19.45B
· 103 total positions
· equity 99.95%
· non-equity 1.09%
Non-equity holdings
— 3 positions,
1.09% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 1.09% | $211.4M | 3 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.58% | -4.55% | 5.68% | 3.69% | 4.34% | 2.63% | 2.06% |
| Feb | 0.59% | -3.89% | -2.76% | 3.91% | 0.88% | 2.92% | 0.28% |
| Mar | 1.56% | 2.93% | 4.53% | 2.03% | -4.64% | -6.76% | -0.06% |
| Apr | 2.10% | -7.21% | 0.80% | -3.41% | -0.06% | 6.88% | -0.15% |
| May | 1.37% | 1.14% | -0.91% | 6.35% | 6.13% | 5.64% | 3.29% |
| Jun | 5.08% | -9.77% | 4.73% | 3.28% | 1.06% | 5.96% | 1.72% |
| Jul | 2.13% | 7.57% | 3.91% | 1.73% | -0.45% | -4.84% | 1.68% |
| Aug | 2.25% | -3.42% | 0.44% | 4.70% | 2.23% | 0.31% | 1.08% |
| Sep | -4.32% | -9.29% | -4.78% | 2.69% | 2.06% | -0.50% | -2.36% |
| Oct | 4.85% | 6.18% | -2.83% | -1.65% | 0.43% | -1.27%* | 0.95% |
| Nov | -1.17% | 6.77% | 6.02% | 4.83% | 1.26% | -- | 3.54% |
| Dec | 5.45% | -5.34% | 3.62% | -3.44% | 1.02% | -- | 0.26% |
| Total | 22.01% | -19.14% | 19.21% | 27.00% | 14.81% | 10.49% | 12.39% |
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: $84.84
SMA 50: $85.06
SMA 200: $82.52
Current: $83.84
EMA 12: $84.57
EMA 26: $84.74
MACD: -0.1697 | Signal: -0.1082
BEARISH
ADX (14): 18.68
RANGE
+DI: 11.34
−DI: 27.88
Momentum Oscillators
RSI (14): 42.14
NEUTRAL
Stoch %K: 27.65
Stoch %D: 25.05
Williams %R: -80.38
Volume & Volatility
BB Upper: $86.01
BB Lower: $83.67
NEUTRAL
OBV: 34,159,197
Vol SMA 20: 1,117,505
Vol ROC: 4.24%
ATR: $0.87
True Range: $1.26
HV 20: 10.0%
HV 30: 10.2%
HV 60: 11.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
SPHQ Stock Analysis Report
Invesco S&P 500 Quality ETF
Executive Summary
Overall Assessment: NEUTRAL | Confidence Level: 6/10
SPHQ presents a conflicted technical and sentiment picture. While news sentiment remains solidly positive and the ETF trades within healthy support zones, critical momentum indicators suggest weakening upside momentum despite the stock trading near recent highs. The bearish MACD crossover combined with overbought Stochastic readings creates a near-term caution signal, even as the underlying fundamentals and long-term positioning remain constructive.
Key Drivers:
- Positive news sentiment around ETF quality positioning and market strategy relevance
- Strong technical support structure (price above all major moving averages)
- Weakening momentum with bearish MACD histogram (-0.11) despite neutral RSI (54.96)
Primary Risks:
- Bearish momentum divergence at current price levels
- Overbought Stochastic conditions (%K: 87.84, %D: 90.88) suggesting mean reversion risk
- Low ADX (12.70) indicating weak trend conviction—vulnerable to whipsaw
Investment Thesis: SPHQ remains a defensively-positioned quality-focused ETF with solid long-term appeal, reflected in consistently positive coverage. However, near-term technical deterioration—particularly the bearish MACD and overbought Stochastic—suggests a consolidation phase or minor pullback is more likely than immediate breakout higher. The moderate beta (0.92) and strong correlation (0.81) to SPY indicate this will largely track broader market sentiment.
Recent News Sentiment Impact: Highly positive but not actionable for short-term trading. All recent headlines (Sept 2026 forward) emphasize SPHQ's strategic merit during market uncertainty, which appears fully reflected in current valuation with little incremental catalyst.
Technical Analysis
Trend Direction
| Timeframe | Direction | Strength | Interpretation | |-----------|-----------|----------|-----------------| | Short-term (1-4 weeks) | NEUTRAL/WEAK UP | Low | Price trades $0.98 above SMA20 ($84.52) but momentum fading; Stochastic extremely overbought | | Medium-term (1-3 months) | UP | Moderate | Price comfortably above SMA50 ($85.30) and SMA200 ($82.08); clean uptrend structure intact | | Long-term (3-12 months) | UP | Moderate | $3.42 gap from SMA200 ($82.08) to current price ($85.50) shows solid intermediate trend; ETF character supports stability |
Support & Resistance Levels
| Level | Price | Source | Significance | |-------|-------|--------|--------------| | Resistance (Immediate) | $85.96 | Bollinger Upper Band | Minor resistance; price nearly touching | | Resistance (Secondary) | $86.50+ | Recent swing high | Not yet reached in this dataset | | Support (Primary) | $85.30 | SMA 50 | Critical support; price currently $0.20 above | | Support (Secondary) | $84.52 | SMA 20 / Bollinger Mid | Intermediate support; recent bounce zone | | Support (Major) | $83.07 | Bollinger Lower Band / SMA 200 proximity | Strong support zone; $2.43 downside cushion |
Key Observation: Support structure is robust. Three moving averages stacked bullishly ($82.08 < $85.30 < $84.52 approx) provide multiple cushions. However, the narrow Bollinger Band width (3.42) suggests low volatility environment with potential for breakout or squeeze compression.
Momentum Signals
RSI (14): 54.96 — Neutral Zone
- Neither overbought (>70) nor oversold (<30)
- Positioned in healthy middle ground (45-55 often precedes directional moves)
- Signal: Neutral; no imminent reversal suggested by RSI alone
MACD: 0.07 vs Signal: 0.19 | Histogram: -0.11 — BEARISH
- Critical Finding: MACD (0.07) is below Signal line (0.19)
- Histogram value (-0.11) is negative, confirming bearish crossover
- This represents momentum loss despite price holding near highs
- Interpretation: Classic late-stage momentum divergence; bulls may be losing steam
- Signal: Recent bearish crossover; typically precedes pullback within 2-4 trading sessions
Stochastic (%K: 87.84, %D: 90.88) — SEVERELY OVERBOUGHT
- Both %K and %D are in extreme overbought territory (>80 is notable, >85 is extreme)
- %K (87.84) > %D (90.88) suggests slight softening but levels remain unsustainably high
- Historically, readings this extreme often lead to mean reversion within 1-4 days
- Signal: High probability of pullback to SMA20 ($84.52) or SMA50 ($85.30) in immediate term
Williams %R: -11.91 — OVERBOUGHT
- Confirms Stochastic reading; price near recent highs
- Corroborates near-term exhaustion pattern
Conflicting Signals Alert: RSI neutral + MACD bearish + Stochastic extreme = momentum exhaustion despite price strength. This is a classic setup for consolidation.
Volume Analysis
Volume Context:
- Volume SMA 20: 1,127,072.80 shares/day
- Volume Rate of Change: +67.72% (significant!)
- On-Balance Volume: 31,299,313.04 (accumulation indicator)
Interpretation:
- Positive: 67.72% rate of change indicates volume has increased significantly, often accompanying uptrend strength
- Volume Surge Timing: Critical question—did this volume surge occur on the rally up to $85.50, or is it declining into the current high?
- OBV Reading: Positive accumulation suggested by rising OBV aligns with uptrend
- Institutional Interest: Elevated volume suggests institutional participation, though the put/call ratios below suggest caution positioning
Signal: Volume support for uptrend is present, but timing matters. If volume declined into the current high, it weakens conviction.
News & Sentiment Analysis
Recent Headlines Summary
Consolidated Themes (Last 10 Articles):
-
Strategic Merit During Volatility (Sept 29, 2026): Zacks Investment Research article asking "Is SPHQ Strong Right Now?" — suggests investor scrutiny; positive but not enthusiastic tone
-
Market Crash Preparation Strategy (Aug 7, 2026): Motley Fool article positioning quality-focused ETFs as defensive plays during downturns — context suggests market concerns about correction risk
-
Volatility Management (July 4, 2026): Motley Fool emphasizing SPHQ's role in volatile markets — aligns with defensive narrative
-
Relative Performance Discussion (June 12, 2026): "ETF Nobody Talks About That Could Beat VOO" — suggests SPHQ is underrecognized value play vs. traditional S&P 500 vehicles
-
Dividend Strategy Comparison (April 30, 2026): Comparative article suggesting SPHQ competes with dividend-focused alternatives
-
Macro Context (April 9, 2026): Costco strong sales headline — reflects positive underlying economic data (Costco is SPHQ holding)
Sentiment Assessment
Aggregate Sentiment: POSITIVE (5 of 6 recent headlines positive)
- Confidence in fundamental merit: Moderate to High
- Investment conviction: Medium (questions being asked rather than recommendations made)
- Timing urgency: Low (strategic, not tactical coverage)
Notable Pattern: All positive sentiment articles frame SPHQ as a defensive quality play or strategic allocation, NOT as a growth opportunity or price momentum play. This aligns with the quality-tilt mandate of the fund.
Catalyst Identification
Immediate (1-7 days):
- None identified in provided data
- Technical pullback from Stochastic exhaustion is most likely near-term catalyst
Near-term (1-4 weeks):
- Q2/Q3 earnings seasons for large-cap holdings (Costco, etc
Generated
News
All SPHQ news →
Zacks Investment ResearchT3·23d ago
The Motley FoolT3·2mo ago
The Motley FoolT3·3mo ago
The Motley FoolT3·4mo ago
The Motley FoolT3·5mo ago
BenzingaT3·6mo ago
BenzingaT3·6mo ago
Zacks Investment ResearchT3·26mo ago
Zacks Investment ResearchT3·28mo ago
Showing 1–10 of 50
Page 1 of 5
SPHQ Options Activity & IV Rank
SPHQ IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 16.8%
7-DTE IV: —
Expected Move: $0.00
7-DTE Move: $0.00
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 11
Put Volume: 174
P/C Volume: 15.818
BEARISH
Call OI: 11
Put OI: 76
P/C OI: 6.909
Total OI: 87
ATM Options Pricing
ATM Call: $0.00
ATM Put: $0.00
Call %: 0.0%
Put %: 0.0%
Chain Summary
Chain Volume: 292
Chain OI: 187
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
LOW γ vs HISTORY
Estimated net dealer gamma is at the 1st percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
1%
vs own history
GEX tilt
-0.52
OI-weighted, today
Vanna tilt
-0.22
δ-sensitivity to IV
Charm tilt
+0.50
δ-decay vs time
Charm tilt +0.50: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 5 ATM contracts, 0k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
—
—
pts
EXTREME
ATM 16.8% / 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
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)73.8MediumOct 22
Straddle Price (30 DTE)$0.00Oct 22
Beta Analysis
Risk Metrics
Beta: 0.9316
Alpha: 0.42%
Correlation: 0.8126
R-Squared: 66.0%
Stock Volatility: 14.6%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Moderate volatility - stock generally follows market
Beta & Alpha Over Time
SPHQ 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.
2 filers$1.21M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $882.98K | 73.13% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $324.36K | 26.87% | 2026-06-30 |
1 filers$234.26K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $234.26K | 100.00% | 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
687.35K
SI % of Float
0.31%
Days to Cover
1.00
Short Vol Ratio
70.3%
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 |
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