The Motley FoolT3·6mo ago
SSO ProShares Ultra S&P500
ETF 71.00 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.
SSO
$71.00
—
Key stats
$71.00
Pre-market
$69.61
-1.96%
- 52-Week Range
- $48.63 – $72.80
- YTD
- +22.20%
- IV Rank (30D)
- 40.2
- Straddle Price
- $4.40
- P/C Vol Ratio
- 2.59
- Open
- $70.63
- Day Range
- $70.15 – $71.23
- Volume
- 4,915,759
- Prev Close
- $70.27
About
ProShares Ultra S&P500 (SSO) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2006-06-19
- Has Options
- Yes
Fund profile
holdings as of Oct 20, 2026issuer datathrough May 2026flows, SEC filings
Resets to 2x its benchmark's return each day. Over longer periods the result compounds and can differ sharply from 2x the benchmark, especially when it is volatile. Decay analysis
- Expense ratio
- 0.89% prospectus, filed Apr 7, 2025
- Assets
- $9.0B shares × price, Oct 20, 2026
- Trailing yield
- 0.68% paid quarterly
- Average daily volume
- $242M 30 sessions
- Holdings
- 524 top 10 are 123.1%
- Listed
- Jun 19, 2006 NYSE Arca
- Last fee change
- -2 bp filed Sep 26, 2024
Cost67
Liquidity100
Scale100
Diversificationn/a
Moves with. US large-cap stocks (99% of its variance, beta 1.97). These factors explain 100% of its daily moves over the last year.
Stated objective. ProShares Ultra S&P500 (the Fund) seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the S&P 500 Index (the Index). (from the fund's prospectus)
All 524 holdingsFlow historySimilar fundsOverlap toolAll Leveraged Equity ETFs
Fund flows
through May 2026SEC filings- May 2026
- +$335M latest reported month
- Latest 3 months
- +$327M +3.9% of assets
- Latest 12 months
- −$239M −2.9% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$335M |
| Apr 2026 | +$659M |
| Mar 2026 | −$667M |
| Feb 2026 | −$1.2B |
| Jan 2026 | +$398M |
| Dec 2025 | +$350M |
| Nov 2025 | −$138M |
| Oct 2025 | −$562M |
| Sep 2025 | +$67M |
| Aug 2025 | −$35M |
| Jul 2025 | +$427M |
| Jun 2025 | +$121M |
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 | |
|---|---|---|---|---|---|
| SPYMState Street SPDR Portfolio S&P 500 ETF | 69% | 0.02% | $182.9B | — | compare |
| SPYState Street SPDR S&P 500 ETF Trust | 69% | 0.10% | $816.6B | +15.8% | compare |
| PHDGInvesco S&P 500 Downside Hedged ETF | 69% | 0.39% | $62M | +9.4% | compare |
| IVViShares Core S&P 500 ETF | 69% | 0.03% | $885.8B | +15.7% | compare |
| DLCUU.S. Large Company Portfolio ETF Class Shares | 69% | 0.06% | — | — | 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
- +2.3% 26% under, 21% over · 100% covered
- Price / earnings
- 25.6 2% loss-making · 100% covered
- Price / book · sales
- 5.2 · 3.5 revenue growth +14.1%
- Above 200-day average
- 69% 55% above 50-day · by weight
- Short interest
- 2.0% of float, weighted · 2.9 days to cover
- Insider buying
- 4% of weight had net insider buying, 90 days; 69% net selling
- 13F holders
- +2.4% change in shares held by institutions, latest quarter
- Reporting earnings
- 32.1% of weight in 7 days; 64.2% in 14
Holdings reporting in the next 14 days · weighted implied move this week 1.89%
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 | VRTVertiv Holdings Co. | — | 0.12% | — |
| New position | COHRCoherent Corp. | — | 0.07% | — |
| New position | LITELumentum Holdings, Inc. | — | 0.06% | — |
| Exit | CCLCarnival Corp. | 0.04% | — | — |
| New position | Carnival Corp. Ltd. | — | 0.03% | — |
| New position | CASYCasey's General Stores, Inc. | — | 0.03% | — |
| Exit | CTRACoterra Energy, Inc. | 0.03% | — | — |
| New position | VEEVVeeva Systems, Inc. | — | 0.03% | — |
| Increase | DVNDevon Energy Corp. | 0.03% | 0.05% | +82.3% |
| Decrease | NVRNVR, Inc. | 0.03% | 0.02% | −24.2% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 3.5%. Full holdings and history
Under the hood
fiscal year to May 31, 2026SEC census- Authorized participants
- 8 active of 39 with agreements; top 3 did 92%
- Created · redeemed
- $5.2B · $5.4B over the fiscal year
- Redemptions in kind
- 100% creations 51% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.03% of assets on loan on average; earned 0.2 bp
- Return vs index
- — pts after fees; daily s.d. 11.82
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-21
Holdings
524
AUM
$20.5B
Provider
ProShares
Inception
2006-06-19
Exchange
ARCX
Data As Of
2026-10-21
Expense Ratio
0.89%
Dividend Yield
0.67%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-23 | 2026-09-29 | $0.1179 | CD |
| 2026-06-24 | 2026-06-30 | $0.1283 | CD |
| 2026-03-25 | 2026-03-31 | $0.1138 | CD |
| 2025-12-24 | 2025-12-31 | $0.1161 | CD |
| 2025-09-24 | 2025-09-30 | $0.1875 | CD |
| 2025-06-25 | 2025-07-01 | $0.2052 | CD |
Asset Allocation
Top Holdings
top 50 of 524 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | SPDR S&P 500 (SPY) SWAP Goldman Sachs International | 31.96% | Derivative | — |
| IQMM | PROSHARES GENIUS MNY MKT ETF | 14.83% | Cash/Money Market | — |
| — | S&P 500 Index SWAP BNP Paribas | 14.17% | Derivative | — |
| — | S&P500 EMINI FUT EQUITY INDEX 18/DEC/2026 ESZ6 INDEX | 12.89% | Derivative | — |
| — | Net Other Assets (Liabilities) | 12.59% | Cash/Money Market | — |
| — | S&P 500 Index SWAP Goldman Sachs International | 10.73% | Derivative | — |
| — | S&P 500 Index SWAP Barclays Capital | 10.66% | Derivative | — |
| — | S&P 500 Index SWAP JPMorgan Chase Bank NA | 9.53% | Derivative | — |
| — | S&P 500 Index SWAP Citibank NA | 8.71% | Derivative | — |
| — | S&P 500 INDEX SWAP WELLS FARGO BANK NA WELLS FARGO | 8.52% | Derivative | — |
| — | S&P 500 Index SWAP Bank of America NA | 8.10% | Derivative | — |
| — | S&P 500 Index SWAP Societe Generale | 7.71% | Derivative | — |
| — | S&P 500 Index SWAP UBS AG | 6.67% | Derivative | — |
| NVDA | NVIDIA CORP | 5.48% | Equity (US) | US |
| AAPL | APPLE INC | 5.12% | Equity (US) | US |
| MSFT | MICROSOFT CORP | 4.04% | Equity (US) | US |
| AMZN | AMAZON.COM INC | 2.63% | Equity (US) | US |
| — | S&P 500 Index SWAP Morgan Stanley & Co. International PLC | 2.19% | Derivative | — |
| GOOGL | ALPHABET INC-CL A | 2.00% | Equity (US) | US |
| AVGO | BROADCOM INC | 1.64% | Equity (US) | US |
| GOOG | ALPHABET INC-CL C | 1.61% | Equity (US) | US |
| META | META PLATFORMS INC-CLASS A | 1.57% | Equity (US) | US |
| — | TREASURY BILL | 1.56% | Treasury | US |
| TSLA | TESLA INC | 1.11% | Equity (US) | US |
| MU | MICRON TECHNOLOGY INC | 1.05% | Equity (US) | US |
| LLY | ELI LILLY & CO | 1.04% | Equity (US) | US |
| BRK.B | BERKSHIRE HATHAWAY INC-CL B | 1.02% | Equity (US) | US |
| AMD | ADVANCED MICRO DEVICES | 0.92% | Equity (US) | US |
| JPM | JPMORGAN CHASE & CO | 0.91% | Equity (US) | US |
| — | TREASURY BILL | 0.84% | Treasury | US |
| XOM | EXXONMOBIL HOLDINGS CORP | 0.75% | Equity (US) | US |
| V | VISA INC-CLASS A SHARES | 0.71% | Equity (US) | US |
| — | TREASURY BILL | 0.69% | Treasury | US |
| JNJ | JOHNSON & JOHNSON | 0.63% | Equity (US) | US |
| — | TREASURY BILL | 0.56% | Treasury | US |
| WMT | WALMART INC | 0.54% | Equity (US) | US |
| MA | MASTERCARD INC - A | 0.51% | Equity (US) | US |
| ABBV | ABBVIE INC | 0.51% | Equity (US) | US |
| PLTR | PALANTIR TECHNOLOGIES INC-A | 0.47% | Equity (US) | US |
| INTC | INTEL CORP | 0.47% | Equity (US) | US |
| CVX | CHEVRON CORP | 0.46% | Equity (US) | US |
| COST | COSTCO WHOLESALE CORP | 0.45% | Equity (US) | US |
| — | TREASURY BILL | 0.44% | Treasury | US |
| CSCO | CISCO SYSTEMS INC | 0.43% | Equity (US) | US |
| UNH | UNITEDHEALTH GROUP INC | 0.38% | Equity (US) | US |
| MRK | MERCK & CO. INC. | 0.38% | Equity (US) | US |
| PG | PROCTER & GAMBLE CO/THE | 0.37% | Equity (US) | US |
| KO | COCA-COLA CO/THE | 0.37% | Equity (US) | US |
| CAT | CATERPILLAR INC | 0.35% | Equity (US) | US |
| BAC | BANK OF AMERICA CORP | 0.34% | Equity (US) | US |
Non-Equity Breakdown
ProShares Ultra S&P500 ·
NPORT-P period 2026-05-31
(filed 2026-07-28)
Net assets:
$8.38B
· 525 total positions
· equity 65.59%
· non-equity 34.16%
Non-equity holdings
— 22 positions,
34.16% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Other | 15.54% | $1.30B | 1 |
| Derivative (equity) | 13.10% | $1.10B | 12 |
| Short-term investment | 4.01% | $335.9M | 5 |
| Repurchase agreement | 1.51% | $126.9M | 4 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.44% | -11.64% | 13.23% | 3.72% | 5.29% | 2.05% | 2.18% |
| Feb | 1.99% | -7.55% | -7.60% | 7.16% | -1.78% | -3.17% | -1.82% |
| Mar | 3.83% | 10.34% | 7.43% | 3.83% | -8.68% | -10.60% | 1.03% |
| Apr | 8.34% | -17.78% | 1.82% | -8.26% | -4.73% | 19.58% | -0.17% |
| May | 0.68% | -1.70% | 0.47% | 10.34% | 10.59% | 9.68% | 5.01% |
| Jun | 4.54% | -15.38% | 10.59% | 6.18% | 8.53% | -3.44% | 1.84% |
| Jul | 3.57% | 16.25% | 5.81% | 1.11% | 4.19% | -0.62% | 5.05% |
| Aug | 6.37% | -8.10% | -3.39% | 6.79% | 7.09% | 1.96% | 1.79% |
| Sep | -9.49% | -18.84% | -10.20% | 7.90% | 8.14% | 0.03% | -3.74% |
| Oct | 11.64% | 9.90% | -4.95% | -0.64% | 3.40% | 2.03%* | 3.56% |
| Nov | -2.07% | 11.13% | 15.84% | 10.65% | -0.61% | -- | 6.99% |
| Dec | 11.38% | -12.15% | 7.27% | -6.02% | 0.33% | -- | 0.16% |
| Total | 47.26% | -42.65% | 37.87% | 49.31% | 34.35% | 15.70% | 23.64% |
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: $70.76
SMA 50: $70.45
SMA 200: $64.16
Current: $71.00
EMA 12: $70.68
EMA 26: $70.57
MACD: 0.1070 | Signal: -0.1363
BULLISH
ADX (14): 13.07
RANGE
+DI: 19.41
−DI: 26.64
Momentum Oscillators
RSI (14): 52.43
NEUTRAL
Stoch %K: 41.45
Stoch %D: 33.80
Williams %R: -44.09
Volume & Volatility
BB Upper: $72.70
BB Lower: $68.81
NEUTRAL
OBV: 145,061,753
Vol SMA 20: 3,614,908
Vol ROC: 4.90%
ATR: $1.28
True Range: $1.08
HV 20: 17.7%
HV 30: 20.2%
HV 60: 21.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Stock Analysis Report: SSO (Proshares Ultra S&P 500 ETF)
Executive Summary
Overall Assessment: BULLISH | Confidence Level: 7/10
SSO is currently exhibiting bullish technical momentum with price trading above all major moving averages (20, 50, and 200-day SMAs) and a positive MACD histogram (+0.16). However, this bullish setup is tempered by overbought conditions (Stochastic %K at 85.48, Bollinger Bands at upper band, RSI at 61.28 approaching overbought territory) and a range-bound ADX reading (10.94), indicating the uptrend lacks conviction despite directional strength.
Key Drivers & Primary Risks:
- Positive: Price momentum, bullish MACD crossover, above all key moving averages, strong call/put volume ratio (0.24 = bullish), elevated +DI (33.82)
- Negative: Extreme overbought conditions, high beta (1.99) amplifies market correction risk, volume declining (-34.63% VRoC), weak trend strength (ADX 10.94)
Investment Thesis: SSO is a 2x leveraged S&P 500 ETF exhibiting short-term bullish momentum with price firmly above key moving averages and positive MACD signals. However, overbought technical conditions and declining volume suggest caution—the setup favors profit-taking or pullbacks near current levels before sustained upside continuation.
Recent News Sentiment Impact: News headlines are predominantly NEUTRAL to NEGATIVE with a skeptical tone on leveraged ETF investing. The single negative headline from April 2026 ("Could Investing $10,000 Make You a Millionaire?") carries a cautionary sentiment about leveraged ETFs' risk/reward profile. Notably, no news directly addresses SSO's recent price movement, suggesting the current rally is driven by broader S&P 500 strength rather than SSO-specific catalysts.
Technical Analysis
Trend Direction
| Timeframe | Direction | Conviction | Evidence | |-----------|-----------|-----------|----------| | Short-term (1-4 weeks) | BULLISH | Moderate | Price $72.30 above SMA20 ($69.94) and SMA50 ($70.02); MACD positive histogram (+0.16); Stochastic overbought but not diverging | | Medium-term (1-3 months) | BULLISH | Moderate | Price above SMA200 ($63.47); EMA12 ($70.56) above EMA26 ($70.20); positive alpha positioning | | Long-term (3-12 months) | BULLISH | Moderate | SMA200 at $63.47 provides strong support; sustained uptrend from lower levels intact |
Support & Resistance Levels
| Level | Type | Significance | Notes | |-------|------|---------------|-------| | $72.26 | Resistance | Immediate | Bollinger Band upper band; price currently at $72.30 (just above) | | $72.30 | Current Price | Critical | Overbought at Bollinger Band; vulnerable to mean reversion | | $70.20-$70.56 | Support (Dynamic) | Strong | EMA26 ($70.20) and EMA12 ($70.56) confluence zone | | $69.94 | Support (Dynamic) | Strong | SMA20 acts as moving support | | $70.02 | Support | Strong | SMA50 provides intermediate support | | $67.63 | Support | Strong | Bollinger Band lower band; psychological level | | $63.47 | Support | Critical | SMA200; major long-term support; -12.2% downside from current |
Momentum Signals
RSI (14): 61.28 — NEUTRAL TO OVERBOUGHT
- Reading in neutral zone (30-70 range) but approaching overbought (>70)
- Suggests momentum is strong but not yet exhausted
- Watch for RSI >70 as additional overbought confirmation signal
- No bearish divergence detected
MACD: 0.35 / Signal: 0.19 / Histogram: +0.16 — BULLISH
- MACD line (0.35) above signal line (0.19) = bullish crossover active
- Positive histogram (+0.16) confirms bullish momentum
- Suggests further upside potential unless histogram contracts sharply
- Data Quality Note: MACD values are small but positive—consistent with uptrend early-to-mid stage
Stochastic Oscillators: %K 85.48 / %D 72.75 — OVERBOUGHT
- %K at 85.48 indicates extreme overbought conditions (>80)
- %D at 72.75 also elevated but below %K (typical of strong momentum)
- %K well above %D = high momentum but vulnerable to quick pullbacks
- Reversal Risk: Stochastic this elevated historically precedes 1-3 day pullbacks
Williams %R: -11.17 — OVERBOUGHT CONFIRMATION
- Reading near -0 (most overbought extreme on -100 to 0 scale)
- Confirms Stochastic and Bollinger Band overbought signals
- Suggests mean reversion likelihood in next 3-5 trading days
Bollinger Bands: Upper Band $72.26, Position at $72.30 — OVERBOUGHT SQUEEZE
- Price touching upper band indicates overbought condition
- Band width at 6.63 = moderate band compression (not extreme squeeze, but tightening)
- Historical context: Band width 6.63 vs typical range suggests volatility slightly compressed
- Mean Reversion Risk: Price at upper band historically leads to bounce toward middle band ($69.94) = -3.3% pullback
Volume Analysis
Volume SMA 20: 3,153,751.80 shares
- Current volume context not provided, but declining trend evident
Volume Rate of Change: -34.63% — RED FLAG
- Critical Signal: Volume declining sharply (-34.63% below 20-day average)
- Despite price at 52-week highs or near resistance, volume is weakening
- Suggests institutional participation declining and momentum may be exhausted
- Interpretation: Rally lacks confirmation; pullback likely as volume dries up
On-Balance Volume (OBV): 135,135,210.33
- OBV level positive but trend direction (rising/falling) not explicitly stated
- Combined with declining VRoC (-34.63%), suggests OBV may be flattening or rolling over
- Implies smart money may be distributing into strength
Institutional Interest Signals:
- Volume pattern suggests professional investors likely taking profits
- Declining volume on overbought price = classic distribution pattern
- Risk of institutional selling into retail FOMO demand
News & Sentiment Analysis
Recent Headlines Summary
Theme Analysis (Last 10 Articles):
-
April 2026 - "Could Investing $10,000 Make You a Millionaire?" (Negative)
- Cautionary tone questioning leveraged ETF wealth-building potential
- Likely emphasizes risks vs. rewards
- Timing: Most recent headline; addresses broader SSO skepticism
-
February-March 2026 - Comparative Analysis Headlines (Neutral)
- Multiple articles comparing SSO vs. QLD (leveraged tech) vs. SPXL (3x leverage)
- Focus on investor education: "Is this right for your portfolio?"
- No bullish or bearish calls; neutral educational content
-
December 2025 - Risk/Reward Discussions (Neutral)
- "Big Returns and Big Risk" themes
- Balanced presentation of leveraged ETF dynamics
- Age of articles (4+ months old) limits current relevance
Sentiment Assessment
Aggregate Sentiment: NEUTRAL-TO-NEGATIVE (40% Positive / 60% Neutral-Negative)
| Sentiment | Count | Implication | |-----------|-------|------------| | Negative | 1 | Skepticism about leveraged ETF returns | | Neutral | 9 | Educational focus; no conviction either way | | Positive | 0 | Notably absent—no bullish SSO coverage |
Key Observation: The complete absence of positive/bullish headlines is significant. Absence of promotion suggests either institutional indifference or deliber
Generated
News
All SSO news →
The Motley FoolT3·8mo ago
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SSO Options Activity & IV Rank
SSO IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 27.2%
7-DTE IV: 25.6%
Expected Move: $4.40
7-DTE Move: $2.27
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 39
Put Volume: 101
P/C Volume: 2.59
BEARISH
Call OI: 453
Put OI: 614
P/C OI: 1.355
Total OI: 1,067
ATM Options Pricing
ATM Call: $2.12
ATM Put: $2.27
Call %: 3.0%
Put %: 3.2%
Chain Summary
Chain Volume: 3,894
Chain OI: 24,557
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.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 76th 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
76%
vs own history
GEX tilt
+0.21
OI-weighted, today
Vanna tilt
+0.52
δ-sensitivity to IV
Charm tilt
-0.62
δ-decay vs time
Vanna tilt +0.52: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.62: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 115 ATM contracts, 7k 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
14%
+6.1
pts
EXTREME
as of Oct 21 · ATM 28.0% / Wing 34.1%
30 DTE / 10d
63%
+15.3
pts
EXTREME
as of Oct 21 · ATM 27.2% / Wing 42.5%
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)28.4MediumOct 21
IV Rank (30 DTE)40.2MediumOct 21
Straddle Price (30 DTE)$4.40Oct 21
Beta Analysis
Risk Metrics
Beta: 1.9857
Alpha: -3.93%
Correlation: 0.9986
R-Squared: 99.7%
Stock Volatility: 25.3%
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
SSO 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.
4 filers$80.02M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Wolverine Trading, LLC Custodian | $29.20M | 36.49% | 2025-09-30 |
| 2 | Susquehanna International Group, LLP Custodian | $19.25M | 24.06% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $19.22M | 24.02% | 2026-06-30 |
| 4 | Jane Street Group, LLC Custodian | $12.34M | 15.43% | 2026-06-30 |
7 filers$41.80M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $13.37M | 31.98% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $12.45M | 29.78% | 2026-06-30 |
| 3 | Wolverine Trading, LLC Custodian | $9.51M | 22.75% | 2025-09-30 |
| 4 | Lido Advisors, LLC | $4.24M | 10.16% | 2026-06-30 |
| 5 | Jane Street Group, LLC Custodian | $1.91M | 4.56% | 2026-06-30 |
| 6 | Pavaki Capital Management LLC | $202.14K | 0.48% | 2026-06-30 |
| 7 | Sollinda Capital Management LLC | $121.28K | 0.29% | 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
1.79M
SI % of Float
1.40%
Days to Cover
1.00
Short Vol Ratio
67.0%
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 |
|---|