TOPS TOP Ships Inc.

XASE
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Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Fibonacci levels Insider trading

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TOPS — —
Key stats
About
Industry (SIC)
DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT (4412) · industry map
Exchange
XASE
Market Cap
$0.0B
Employees
86
List Date
2004-07-23
CIK
0001296484
Homepage
https://www.topships.org

TOP Ships Inc owns tanker vessels throughout the world. The Company is an international owner and operator of modern, fuel-efficient eco-tanker vessels, focusing on the transportation of crude oil, petroleum products (both clean and dirty), and bulk liquid chemicals. It generates revenue from the Time Charter agreements. The company operates in two reportable segments: (i) the tanker segment and (ii) the megayacht segment.

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan70.73%-14.89%10.83%-11.92%-0.40%7.81%10.36%
Feb12.98%17.71%-42.48%0.07%-2.10%-5.98%-3.30%
Mar-20.25%-6.31%-8.44%2.56%8.13%-35.28%-9.93%
Apr-15.58%-29.19%-15.03%-6.97%-10.77%-27.39%-17.49%
May-24.52%-3.52%-3.47%8.52%-6.73%-59.68%-14.90%
Jun-0.62%-42.71%-19.73%-17.14%-3.49%-16.75%-16.74%
Jul-16.77%-10.16%22.80%-10.32%8.12%-19.54%-4.31%
Aug-4.58%-9.46%4.76%-10.12%-4.59%2.45%-3.59%
Sep18.40%-46.82%-20.66%13.93%6.90%-23.55%-8.63%
Oct-15.29%43.43%-8.44%-12.31%2.92%-46.19%-5.98%
Nov-21.01%-34.77%87.11%-4.64%0.67%-5.86%*3.58%
Dec-18.14%-65.01%23.58%-20.13%-26.78%---21.30%
Total-49.83%-94.80%-16.96%-53.62%-29.15%-94.90%-56.54%
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: $0.38
SMA 50: $0.57
SMA 200: $1.91
Current: $0.30
EMA 12: $0.34
EMA 26: $0.42
MACD: -0.0805 | Signal: 0.0049
BEARISH
ADX (14): 23.76
WEAK TREND
+DI: 17.82
−DI: 33.58

Momentum Oscillators

RSI (14): 27.00
OVERSOLD
Stoch %K: 21.32
Stoch %D: 19.62
Williams %R: -85.90

Volume & Volatility

BB Upper: $0.53
BB Lower: $0.22
NEUTRAL
OBV: 147,801,670
Vol SMA 20: 460,810
Vol ROC: 35.92%
ATR: $0.05
True Range: $0.08
HV 20: 93.5%
HV 30: 79.1%
HV 60: 94.4%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-11-06T00:00:00 – 2026-11-04T00:00:00
AI Analysis

Here is the comprehensive stock analysis report for TOPS:

Executive Summary

Overall assessment: NEUTRAL with confidence level (6/10)

Key drivers: Recent news headlines highlighting acquisition agreements, potential gross revenue backlog, and low volatility.

Primary risks: Potential catalysts driving the stock price may not materialize, high beta stocks could outperform in a rising market.

Investment thesis: The recent news headlines suggest that TOPS is poised for growth through strategic acquisitions. However, the stock's low volatility and bearish momentum signals caution investors to be selective with their entry points.

Recent news sentiment impact: The positive news headlines about acquisition agreements have contributed to the stock's recent price increase, while neutral or negative headlines have had little impact.

Technical Analysis

Trend Direction: Short-term (1-4 weeks): BEARISH, Medium-term (1-3 months): NEUTRAL, Long-term (3-12 months): BULLISH

Support/Resistance Levels: Key price levels from moving averages and technical patterns:

  • SMA 20: $0.79
  • SMA 50: $0.77
  • Upper Bollinger Band: $0.88
  • Lower Bollinger Band: $0.70

Momentum Signals:

  • RSI interpretation (oversold <30): 39.58 (neutral)
  • MACD signal (bearish): -0.02 / Signal: -0.01 / Histogram: -0.01
  • Bollinger Bands position (squeeze, breakout, mean reversion): Neutral

Volume Analysis: Volume trends and institutional interest signals:

  • Volume SMA 20: 98628.55
  • On-Balance Volume (OBV): 7843251.92
  • Volume Rate of Change: -77.86%

News & Sentiment Analysis

Recent Headlines Summary: Key themes from last 10 news articles:

  • Acquisition agreements and potential gross revenue backlog

Sentiment Assessment: Aggregate news sentiment (positive/negative/neutral):

  • Positive: 3/5 headlines
  • Neutral: 2/5 headlines
  • Negative: 0/5 headlines

Catalyst Identification: Upcoming events, earnings, product launches, regulatory changes:

  • Acquisition agreements and potential gross revenue backlog are the primary catalysts for growth.

Market Narrative: How news aligns with or contradicts technical signals:

  • The recent positive news headlines about acquisition agreements support the stock's short-term bearish trend.

Risk & Volatility Assessment

Beta Interpretation: Risk relative to market (beta >1.2 = high risk, <0.8 = defensive):

  • Beta: 0.78 (vs SPY) - Defensive

Volatility Regime: Current vs historical volatility levels:

  • Historical Volatility: HV20 57.2%, HV30 79.2%, HV60 73.5% - relatively low

Options Market Signals: IV rank, put/call ratios, unusual activity:

  • No options data available.

Downside Protection: Support levels and risk management considerations:

  • SMA 20: $0.79
  • Lower Bollinger Band: $0.70

Market Context & Positioning

Sector Performance: Relative strength vs sector/market:

  • TOPS is underperforming its sector peers.

Institutional Activity: Volume patterns suggesting institutional interest signals:

  • No significant institutional activity detected.

Correlation Analysis: How stock moves relative to market (R-squared interpretation):

  • R-squared: 0.12 - relatively low correlation with the broader market.

Relative Valuation: Position within trading range:

  • TOPS is trading near its historical average.

Key Levels & Action Items

Critical Price Levels: Support/resistance to monitor:

  • SMA 20: $0.79
  • Upper Bollinger Band: $0.88

Breakout/Breakdown Levels: Technical levels that could trigger significant moves:

  • Lower Bollinger Band: $0.70

Time-Sensitive Catalysts: Earnings dates, FDA approvals, product launches:

  • No upcoming earnings or regulatory events.

Risk Management: Stop-loss levels and position sizing considerations:

  • Set stop-loss at SMA 20: $0.79 to limit potential losses.
  • Consider reducing position size due to the stock's low volatility and bearish momentum signals.
Generated

TOPS Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How 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 side

Which 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
ATM — / Wing —
30 DTE / 10d —
— pts EXTREME
ATM — / Wing —

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)
Straddle Price (30 DTE)
Beta Analysis

Risk Metrics

Beta: 0.9228
Alpha: -266.81%
Correlation: 0.1306
R-Squared: 1.7%
Stock Volatility: 90.8%
Market Volatility: 12.8%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Beta & Alpha Over Time

TOPS Institutional Ownership (13F)

Latest filings — 2026-09-30

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.

15 filers260,803 shares$200.10K value
# Filer Shares Value % of Total % of Float Period
1 HRT FINANCIAL LP 111,596 $85.00K 42.48% — 2026-06-30
2 UBS Group AG Custodian 53,710 $41.36K 20.67% — 2026-06-30
3 Virtu Financial LLC 34,780 $27.00K 13.49% — 2026-06-30
4 Jane Street Group, LLC Custodian 17,346 $13.36K 6.67% — 2026-06-30
5 Susquehanna International Group, LLP Custodian 16,695 $12.86K 6.42% — 2026-06-30
6 Cetera Investment Advisers Custodian 12,899 $9.93K 4.96% — 2026-06-30
7 TWO SIGMA SECURITIES, LLC 12,023 $9.26K 4.63% — 2026-06-30
8 Tower Research Capital LLC (TRC) Custodian 1,732 $1.33K 0.67% — 2026-06-30
9 OSAIC HOLDINGS, INC. Custodian 4 $3 <0.01% — 2026-06-30
10 Federation des caisses Desjardins du Quebec Custodian 4 $3 <0.01% — 2026-06-30
11 JPMorgan Chase & Co Custodian 2 $2 <0.01% — 2026-06-30
12 SBI Securities Co., Ltd. 3 $2 <0.01% — 2026-09-30
13 Caitong International Asset Management Co., Ltd 1 $1 <0.01% — 2026-09-30
14 Farther Finance Advisors, LLC Custodian 2 $1 <0.01% — 2026-09-30
15 Royal Bank of Canada Custodian 6 $0 0.00% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period

TOPS Insider Trading (Form 4)

Latest: 2016-09-01
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2016-09-01 Ronin Capital, LLC 10%+ Owner Sell (S) −35,900 $3.89 -$139.5K EDGAR
2016-08-29 Ronin Capital, LLC 10%+ Owner Mixed +54,869 $3.45 $45.3K EDGAR
2016-08-25 Ronin Capital, LLC 10%+ Owner Mixed −27,116 $3.20 -$175.3K EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

TOPS Board & Officers

As of SEC filings through Apr 1, 2026

Directors 5

  • Alexandros Tsirikos · since Mar 18, 2026
  • Konstantinos Karelas · since Mar 18, 2026
  • Maria Zoupou · since Mar 18, 2026
  • Paolo Javarone · since Mar 18, 2026
  • Evangelos Pistiolis · since Apr 1, 2026

Officers 2

  • Evangelos Pistiolis · President and CEO · since Apr 1, 2026
  • Alexandros Tsirikos · Chief Financial Officer · since Mar 18, 2026
Changes in the last 10 years (7)
Apr 1, 2026Evangelos Pistiolis became a director
Apr 1, 2026Evangelos Pistiolis became President and CEO
Mar 18, 2026Paolo Javarone became a director
Mar 18, 2026Maria Zoupou became a director
Mar 18, 2026Konstantinos Karelas became a director
Mar 18, 2026Alexandros Tsirikos became a director
Mar 18, 2026Alexandros Tsirikos became Chief Financial Officer
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
ETF Holders
# ETF Provider Weight $ Exposure ETF AUM As Of
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.