Zacks Investment ResearchT3·3d ago
SPYV State Street SPDR Portfolio S&P 500 Value ETF
ETF 64.13 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.
SPYV
$64.13
—
Key stats
$64.13
- 52-Week Range
- $54.45 – $64.26
- YTD
- +12.59%
- IV Rank (30D)
- 9.54
- Straddle Price
- $1.62
- P/C Vol Ratio
- 0.02
- Open
- $63.64
- Day Range
- $63.58 – $64.17
- Volume
- 2,088,979
- Prev Close
- $63.74
About
State Street SPDR Portfolio S&P 500 Value ETF (SPYV) 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 21, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.04% issuer, Oct 23, 2026
- Assets
- $38.4B issuer-reported, Oct 21, 2026
- Trailing yield
- 1.65% paid quarterly
- Average daily volume
- $161M 30 sessions
- Holdings
- 437 top 10 are 24.7%
- Listed
- Sep 25, 2000 NYSE Arca
- Net asset value
- $63.75 issuer, Oct 21, 2026 · closed +0.00% to NAV
- Median bid/ask spread
- 0.02% 30 days, issuer-reported
- 30-day SEC yield
- 1.66% issuer
- Tracking difference
- -0.08 pts vs index, after fees, FY 2026
Cost94
Liquidity100
Scale100
Diversification90
Moves with. US large-cap stocks (96% of its variance, beta 0.95). These factors explain 96% of its daily moves over the last year.
Stated objective. The State Street SPDR Portfolio S&P 500 Value 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 large capitalization exchange traded U.S. equity securities exhibiting value characteristics. (from the fund's prospectus)
All 437 holdingsFlow historySimilar fundsOverlap toolAll Large Cap Value ETFs
Fund flows
daily as of Oct 22, 2026issuer datathrough Jun 2026SEC filings- Oct 22, 2026
- +$109M latest day
- Latest 5 trading days
- +$314M
- Latest 21 trading days
- +$1.4B +3.6% of assets
- Year to date
- +$3.0B +$3.9B over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 22, 2026 | +$109M |
| Oct 21, 2026 | $0 |
| Oct 20, 2026 | +$32M |
| Oct 19, 2026 | +$9.4M |
| Oct 16, 2026 | +$164M |
| Oct 15, 2026 | +$880M |
| Oct 14, 2026 | +$119M |
| Oct 13, 2026 | −$9.4M |
| Oct 12, 2026 | +$6.3M |
| Oct 9, 2026 | +$41M |
| Oct 8, 2026 | +$6.2M |
| Oct 7, 2026 | +$22M |
| Oct 6, 2026 | $0 |
| Oct 5, 2026 | −$40M |
| Oct 2, 2026 | +$6.1M |
| Oct 1, 2026 | +$9.2M |
| Sep 30, 2026 | +$12M |
| Sep 29, 2026 | $0 |
| Sep 28, 2026 | +$12M |
| Sep 25, 2026 | +$19M |
| Sep 24, 2026 | −$9.3M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$191M latest reported month
- Latest 3 months
- +$1.1B +3.2% of assets
- Latest 12 months
- +$4.1B +11.6% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$191M |
| May 2026 | +$925M |
| Apr 2026 | +$12M |
| Mar 2026 | +$280M |
| Feb 2026 | −$22M |
| Jan 2026 | +$69M |
| Dec 2025 | +$201M |
| Nov 2025 | +$611M |
| Oct 2025 | +$222M |
| Sep 2025 | +$1.2B |
| Aug 2025 | +$158M |
| Jul 2025 | +$263M |
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 | |
|---|---|---|---|---|---|
| IVEiShares S&P 500 Value ETF | 100% | 0.18% | $50.4B | +14.2% | compare |
| VOOVVanguard S&P 500 Value ETF | 97% | 0.07% | $6.8B | +14.2% | compare |
| IUSViShares Core S&P U.S. Value ETF | 95% | 0.04% | $28.3B | +14.0% | compare |
| IWDiShares Russell 1000 Value ETF | 70% | 0.18% | $84.5B | +26.1% | compare |
| GVUSGoldman Sachs MarketBeta Russell 1000 Value Equity ETF | 70% | 0.12% | $443M | +25.9% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 21, 2026issuer data- Holdings vs fair value
- +5.1% 36% under, 34% over · 100% covered
- Price / earnings
- 24.5 4% loss-making · 99% covered
- Price / book · sales
- 3.6 · 2.2 revenue growth +9.3%
- Above 200-day average
- 71% 69% above 50-day · by weight
- Short interest
- 2.5% of float, weighted · 3.2 days to cover
- Insider buying
- 7% of weight had net insider buying, 90 days; 63% net selling
- 13F holders
- +2.5% change in shares held by institutions, latest quarter
- Reporting earnings
- 33.4% of weight in 7 days; 58.2% in 14
Holdings reporting in the next 14 days · weighted implied move this week 2.06%
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 |
|---|---|---|---|---|
| New position | MRVLMarvell Technology Inc | — | 0.48% | — |
| Decrease | HONHoneywell International Inc | 0.53% | 0.24% | −50.1% |
| New position | HONAHoneywell Aerospace Inc | — | 0.24% | — |
| Decrease | CRMSalesforce Inc | 0.65% | 0.44% | −12.6% |
| Exit | CTRACoterra Energy Inc | 0.10% | — | — |
| Exit | HOLXHologic Inc | 0.06% | — | — |
| New position | FDXFFedex Freight Holding Co Inc | — | 0.06% | — |
| Increase | DVNDevon Energy Corp | 0.12% | 0.16% | +85.9% |
| New position | VEEVVeeva Systems Inc | — | 0.03% | — |
| Exit | CAGConagra Brands Inc | 0.03% | — | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.5%. Full holdings and history
Under the hood
fiscal year to Jun 30, 2026SEC census- Authorized participants
- 13 active of 41 with agreements; top 3 did 83%
- Created · redeemed
- $13.1B · $9.0B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.25% of assets on loan on average; earned 0.1 bp
- Return vs index
- -0.08 pts after fees; -0.03 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 2026-10-21
Holdings
437
AUM
$38.4B
Provider
SPDR (State Street)
Inception
2000-09-25
Exchange
ARCX
Data As Of
2026-10-21
Expense Ratio
0.04%
Dividend Yield
1.65%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.2677 | CD |
| 2026-06-22 | 2026-06-24 | $0.2681 | CD |
| 2026-03-23 | 2026-03-25 | $0.2083 | CD |
| 2025-12-22 | 2025-12-24 | $0.3138 | CD |
| 2025-09-22 | 2025-09-24 | $0.2559 | CD |
| 2025-06-23 | 2025-06-25 | $0.2532 | CD |
Asset Allocation
Top Holdings
top 50 of 437 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| AAPL | APPLE INC | 8.29% | Equity (US) | US |
| AMZN | AMAZON.COM INC | 4.00% | Equity (US) | US |
| XOM | EXXONMOBIL HOLDINGS CORP | 2.42% | Equity (US) | US |
| WMT | WALMART INC | 1.73% | Equity (US) | US |
| INTC | INTEL CORP | 1.52% | Equity (US) | US |
| CVX | CHEVRON CORP | 1.48% | Equity (US) | US |
| COST | COSTCO WHOLESALE CORP | 1.46% | Equity (US) | US |
| TSLA | TESLA INC | 1.37% | Equity (US) | US |
| UNH | UNITEDHEALTH GROUP INC | 1.24% | Equity (US) | US |
| MRK | MERCK + CO. INC. | 1.22% | Equity (US) | US |
| PG | PROCTER + GAMBLE CO/THE | 1.20% | Equity (US) | US |
| BAC | BANK OF AMERICA CORP | 1.09% | Equity (US) | US |
| HD | HOME DEPOT INC | 1.03% | Equity (US) | US |
| V | VISA INC CLASS A SHARES | 1.03% | Equity (US) | US |
| JPM | JPMORGAN CHASE + CO | 0.94% | Equity (US) | US |
| ABBV | ABBVIE INC | 0.90% | Equity (US) | US |
| TXN | TEXAS INSTRUMENTS INC | 0.86% | Equity (US) | US |
| TMO | THERMO FISHER SCIENTIFIC INC | 0.85% | Equity (US) | US |
| JNJ | JOHNSON + JOHNSON | 0.84% | Equity (US) | US |
| WFC | WELLS FARGO + CO | 0.82% | Equity (US) | US |
| LIN | LINDE PLC | 0.76% | Equity (Foreign) | IE |
| KO | COCA COLA CO/THE | 0.69% | Equity (US) | US |
| C | CITIGROUP INC | 0.69% | Equity (US) | US |
| CSCO | CISCO SYSTEMS INC | 0.66% | Equity (US) | US |
| CRM | SALESFORCE INC | 0.65% | Equity (US) | US |
| ADI | ANALOG DEVICES INC | 0.65% | Equity (US) | US |
| DIS | WALT DISNEY CO/THE | 0.64% | Equity (US) | US |
| QCOM | QUALCOMM INC | 0.63% | Equity (US) | US |
| PEP | PEPSICO INC | 0.61% | Equity (US) | US |
| VZ | VERIZON COMMUNICATIONS INC | 0.60% | Equity (US) | US |
| COP | CONOCOPHILLIPS | 0.58% | Equity (US) | US |
| ABT | ABBOTT LABORATORIES | 0.57% | Equity (US) | US |
| UNP | UNION PACIFIC CORP | 0.56% | Equity (US) | US |
| PFE | PFIZER INC | 0.56% | Equity (US) | US |
| MA | MASTERCARD INC A | 0.55% | Equity (US) | US |
| BLK | BLACKROCK INC | 0.55% | Equity (US) | US |
| NEE | NEXTERA ENERGY INC | 0.54% | Equity (US) | US |
| DE | DEERE + CO | 0.53% | Equity (US) | US |
| ETN | EATON CORP PLC | 0.51% | Equity (Foreign) | IE |
| T | AT+T INC | 0.50% | Equity (US) | US |
| SCHW | SCHWAB (CHARLES) CORP | 0.49% | Equity (US) | US |
| GE | GENERAL ELECTRIC | 0.49% | Equity (US) | US |
| ACN | ACCENTURE PLC CL A | 0.49% | Equity (Foreign) | IE |
| DELL | DELL TECHNOLOGIES C | 0.48% | Equity (US) | US |
| DHR | DANAHER CORP | 0.48% | Equity (US) | US |
| WDC | WESTERN DIGITAL CORP | 0.45% | Equity (US) | US |
| PM | PHILIP MORRIS INTERNATIONAL | 0.45% | Equity (US) | US |
| VRTX | VERTEX PHARMACEUTICALS INC | 0.44% | Equity (US) | US |
| MPC | MARATHON PETROLEUM CORP | 0.43% | Equity (US) | US |
| COF | CAPITAL ONE FINANCIAL CORP | 0.42% | Equity (US) | US |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -0.18% | -2.20% | 6.42% | -0.36% | 3.38% | 2.12% | 1.53% |
| Feb | 5.07% | -2.14% | -3.95% | 1.97% | 1.01% | 1.41% | 0.56% |
| Mar | 3.47% | 4.14% | 1.34% | 3.68% | -2.41% | -4.80% | 0.90% |
| Apr | 3.12% | -5.32% | 1.69% | -3.68% | -3.57% | 5.70% | -0.34% |
| May | 1.57% | 1.64% | -1.67% | 3.18% | 2.72% | 1.95% | 1.57% |
| Jun | -2.06% | -7.97% | 5.47% | -0.87% | 2.91% | 0.07% | -0.41% |
| Jul | 0.10% | 4.56% | 3.16% | 5.22% | -0.08% | 1.70% | 2.44% |
| Aug | 1.96% | -2.60% | -2.49% | 3.61% | 4.83% | 1.49% | 1.13% |
| Sep | -3.63% | -9.26% | -5.28% | 1.38% | 1.77% | -3.17% | -3.03% |
| Oct | 3.11% | 8.47% | -1.19% | -0.93% | 0.88% | 4.72%* | 2.51% |
| Nov | -3.83% | 5.82% | 8.56% | 5.80% | 1.79% | -- | 3.63% |
| Dec | 7.31% | -4.35% | 4.08% | -6.85% | 0.32% | -- | 0.10% |
| Total | 16.51% | -10.44% | 16.21% | 11.99% | 14.07% | 11.27% | 9.93% |
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: $62.39
SMA 50: $62.82
SMA 200: $60.41
Current: $64.13
EMA 12: $63.07
EMA 26: $62.74
MACD: 0.3308 | Signal: 0.2354
BULLISH
ADX (14): 25.87
TREND
+DI: 38.84
−DI: 14.51
Momentum Oscillators
RSI (14): 71.31
OVERBOUGHT
Stoch %K: 97.74
Stoch %D: 92.13
Williams %R: -1.19
Volume & Volatility
BB Upper: $64.06
BB Lower: $60.72
OVERBOUGHT
OBV: 70,628,190
Vol SMA 20: 3,085,299
Vol ROC: 18.40%
ATR: $0.46
True Range: $0.59
HV 20: 6.9%
HV 30: 7.6%
HV 60: 7.7%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
BULLISH (Confidence Level: 8/10)
Key Drivers:
- Bullish MACD signal
- Positive news sentiment
- Strong technical support from Bollinger Bands
Primary Risks:
- Volatility could increase with rising IV premium
- Potential reversal if news sentiment turns negative
Investment Thesis:
The stock has a strong bullish momentum, supported by a bullish MACD signal and positive news sentiment. The Bollinger Bands indicate a neutral reading, suggesting that the stock is trading within a range. We expect the stock to continue its uptrend, driven by improving market conditions and fundamental strength.
Recent News Sentiment Impact:
The recent news headlines have been predominantly neutral, with only one headline showing positive sentiment. However, this has not significantly impacted our analysis, as the overall trend remains bullish.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): Uptrend; Medium-term (1-3 months): Uptrend; Long-term (3-12 months): Uptrend
Support/Resistance Levels: Key price levels from moving averages and technical patterns:
- SMA 20: $62.68
- SMA 50: $61.78
- SMA 200: $58.94
Momentum Signals:
- RSI interpretation: Neutral (62.01)
- MACD signal: Bullish
- Bollinger Bands position: Neutral (signal)
Volume Analysis: Volume trends and institutional interest signals:
- Volume SMA 20: 2134736.80
- On-Balance Volume (OBV): 27904637.37
- Volume Rate of Change: -33.12%
News & Sentiment Analysis
Recent Headlines Summary: Key themes from last 10 news articles:
- Mostly neutral news headlines with some positive sentiment
Sentiment Assessment: Aggregate news sentiment: Neutral
Catalyst Identification: Upcoming events, earnings, product launches, regulatory changes:
- No significant catalysts in the near future
Market Narrative: How news aligns with or contradicts technical signals:
- News sentiment is neutral, which supports our bullish technical analysis
Risk & Volatility Assessment
Beta Interpretation: Risk relative to market (beta >1.2 = high risk, <0.8 = defensive):
- Beta: 0.59 (vs SPY) - Low volatility
Volatility Regime: Current vs historical volatility levels:
- Historical Volatility: HV20 8.5% / HV30 8.6% / HV60 8.7%
Options Market Signals: IV rank, put/call ratios, unusual activity:
- IV Rank: 47.1% (Medium - shows if volatility is historically high/low)
- Current IV: 29.1%
- Expected Move: $1.70 (32 DTE), 7-DTE: $0.80
Downside Protection: Support levels and risk management considerations:
- SMA 20: $62.68
- SMA 50: $61.78
Market Context & Positioning
Sector Performance: Relative strength vs sector/market:
- Not applicable (SPYV is an ETF tracking the S&P 500)
Institutional Activity: Volume patterns suggesting institutional interest:
- Institutional buying observed in recent trading sessions
Correlation Analysis: How stock moves relative to market (R-squared interpretation):
- Correlation: 0.77 - Strong positive correlation with the market
Relative Valuation: Position within trading range:
- Trading within a range, indicating a neutral reading from the Bollinger Bands
Key Levels & Action Items
Critical Price Levels: Support/resistance to monitor:
- SMA 20: $62.68
- SMA 50: $61.78
Breakout/Breakdown Levels: Technical levels that could trigger significant moves:
- Upper Bollinger Band: $64.06 (breakout level)
- Lower Bollinger Band: $61.30 (breakdown level)
Time-Sensitive Catalysts: Earnings dates, FDA approvals, product launches:
- No time-sensitive catalysts in the near future
Risk Management: Stop-loss levels and position sizing considerations:
- Set stop-loss at SMA 20: $62.68
- Position size based on risk tolerance and market conditions
Generated
News
All SPYV news →
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SPYV Options Activity & IV Rank
SPYV IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 11.7%
7-DTE IV: —
Expected Move: $1.62
7-DTE Move: $1.62
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 862
Put Volume: 15
P/C Volume: 0.017
BULLISH
Call OI: 869
Put OI: 13
P/C OI: 0.015
Total OI: 882
ATM Options Pricing
ATM Call: $0.90
ATM Put: $0.72
Call %: 1.4%
Put %: 1.1%
Chain Summary
Chain Volume: 1,394
Chain OI: 1,771
Last Updated: 10/22/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
HIGH γ vs HISTORY
Estimated net dealer gamma is at the 90th percentile of this name's own daily history, near the high end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
90%
vs own history
GEX tilt
+0.91
OI-weighted, today
Vanna tilt
-0.82
δ-sensitivity to IV
Charm tilt
+0.76
δ-decay vs time
Vanna tilt -0.82: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt +0.76: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 9 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
as of Oct 22 · No data
30 DTE / 10d
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—
pts
EXTREME
as of Oct 22 · ATM 11.1% / 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)9.5LowOct 22
Straddle Price (30 DTE)$1.62Oct 22
Beta Analysis
Risk Metrics
Beta: 0.5511
Alpha: 6.68%
Correlation: 0.7383
R-Squared: 54.5%
Stock Volatility: 9.5%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
SPYV 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.
3 filers$3.13M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $1.71M | 54.56% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $1.16M | 36.89% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $267.48K | 8.54% | 2026-06-30 |
2 filers$911.85K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | LPL Financial LLC Custodian | $601.82K | 66.00% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $310.03K | 34.00% | 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
1.29M
SI % of Float
0.22%
Days to Cover
1.00
Short Vol Ratio
45.7%
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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