Seeking AlphaT3·34mo ago
TOTL State Street DoubleLine Total Return Tactical ETF
ETF 37.73 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.
TOTL
$37.73
—
Key stats
$37.73
- 52-Week Range
- $37.09 – $40.85
- YTD
- -6.26%
- IV Rank (30D)
- 81.57
- Straddle Price
- $1.62
- P/C Vol Ratio
- 25.00
- Open
- $37.77
- Day Range
- $37.66 – $37.78
- Volume
- 1,021,459
- Prev Close
- $37.69
About
State Street DoubleLine Total Return Tactical ETF (TOTL) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2015-02-23
- Has Options
- Yes
- Homepage
- https://www.ssga.com/us/en/individual/etfs
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.55% issuer, Oct 21, 2026
- Assets
- $3.7B issuer-reported, Oct 19, 2026
- Trailing yield
- 5.54% paid monthly
- Average daily volume
- $32M 30 sessions
- Holdings
- 1,685 top 10 are 17.5%
- Listed
- Feb 23, 2015 NYSE Arca
- Net asset value
- $37.62 issuer, Oct 19, 2026 · closed +0.09% to NAV
- Median bid/ask spread
- 0.03% 30 days, issuer-reported
- 30-day SEC yield
- 6.03% issuer
Cost16
Liquidity83
Scale95
Diversification100
Moves with. Long Treasuries (56% of its variance, beta 0.28); US large-cap stocks (7% of its variance, beta 0.06); High yield over Treasuries (4% of its variance, beta -0.10); US dollar (4% of its variance, beta -0.06). These factors explain 74% of its daily moves over the last year.
Stated objective. The State Street DoubleLine Total Return Tactical ETF (the Fund) seeks to maximize total return. (from the fund's prospectus)
All 1,685 holdingsFlow historyOverlap toolAll Multisector Bond ETFs
Fund flows
daily as of Oct 19, 2026issuer datathrough Jun 2026SEC filings- Oct 19, 2026
- $0 latest day
- Latest 5 trading days
- $0
- Latest 21 trading days
- −$129M −3.5% of assets
- Year to date
- −$106M −$8.9M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 19, 2026 | $0 |
| Oct 16, 2026 | $0 |
| Oct 15, 2026 | $0 |
| Oct 14, 2026 | $0 |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | $0 |
| Oct 8, 2026 | $0 |
| Oct 7, 2026 | $0 |
| Oct 6, 2026 | $0 |
| Oct 5, 2026 | −$30M |
| Oct 2, 2026 | $0 |
| Oct 1, 2026 | −$3.7M |
| Sep 30, 2026 | −$7.5M |
| Sep 29, 2026 | $0 |
| Sep 28, 2026 | −$83M |
| Sep 25, 2026 | $0 |
| Sep 24, 2026 | $0 |
| Sep 23, 2026 | $0 |
| Sep 22, 2026 | $0 |
| Sep 21, 2026 | −$5.7M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$7.8M latest reported month
- Latest 3 months
- +$24M +0.6% of assets
- Latest 12 months
- +$383M +9.2% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$7.8M |
| May 2026 | +$4.0M |
| Apr 2026 | +$12M |
| Mar 2026 | +$66M |
| Feb 2026 | +$66M |
| Jan 2026 | +$64M |
| Dec 2025 | +$44M |
| Nov 2025 | +$41M |
| Oct 2025 | +$73M |
| Sep 2025 | +$34M |
| Aug 2025 | $0 |
| Jul 2025 | −$30M |
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 | |
|---|---|---|---|---|---|
| BINCiShares Flexible Income Active ETF | — | 0.40% | $16.5B | −4.9% | compare |
| PYLDPIMCO Multi Sector Bond Active ETF | — | 0.64% | $16.4B | −5.3% | compare |
| JPIEJPMorgan Income ETF | — | 0.39% | $11.2B | −3.2% | compare |
| BONDPIMCO Active Bond Exchange-Traded Fund | — | 0.54% | $8.6B | −6.7% | compare |
| CGCPCapital Group Core Plus Income ETF | — | 0.34% | $8.5B | −6.7% | compare |
The largest other funds in the Multisector Bond category.
Under the hood
fiscal year to Jun 30, 2026SEC census- Authorized participants
- 4 active of 41 with agreements; top 3 did 98%
- Created · redeemed
- $449M · $35M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 50,000 shares
- Securities lending
- authorized, none lent
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
1683
AUM
$3.7B
Provider
SPDR (State Street)
Inception
2015-02-23
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.55%
Dividend Yield
5.53%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-06 | $0.1777 | CD |
| 2026-09-01 | 2026-09-04 | $0.1699 | CD |
| 2026-08-03 | 2026-08-06 | $0.1704 | CD |
| 2026-07-01 | 2026-07-07 | $0.1654 | CD |
| 2026-06-01 | 2026-06-04 | $0.1631 | CD |
| 2026-05-01 | 2026-05-06 | $0.1667 | CD |
Asset Allocation
Top Holdings
top 50 of 1683 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | US TREASURY N/B 0.75 01/31/2028 | 6.31% | Treasury | US |
| — | US Dollars | 4.22% | Cash/Money Market | — |
| — | TREASURY BILL 0 03/11/2027 | 3.67% | Treasury | US |
| — | US TREASURY N/B 0.625 08/15/2030 | 1.62% | Treasury | US |
| — | TREASURY BILL 0 04/08/2027 | 1.32% | Treasury | — |
| — | US TREASURY N/B 3.5 02/28/2031 | 0.89% | Treasury | US |
| — | US TREASURY N/B 0.875 11/15/2030 | 0.81% | Treasury | US |
| — | FREDDIE MAC 5.5 07/01/2054 | 0.75% | MBS/ABS | — |
| — | FANNIE MAE 5.5 09/01/2054 | 0.73% | MBS/ABS | — |
| — | TSY INFL IX N/B 1.625 10/15/2027 | 0.68% | Corporate Bond | US |
| — | FANNIE MAE 5 01/01/2055 | 0.67% | MBS/ABS | — |
| — | PROGRESS RESIDENTIAL TRUST 3.5 06/17/2041 | 0.63% | Corporate Bond | — |
| — | FANNIE MAE 3 06/01/2052 | 0.63% | MBS/ABS | — |
| — | FREDDIE MAC 5.5 12/01/2054 | 0.58% | MBS/ABS | — |
| — | FANNIE MAE 4 12/25/2053 | 0.57% | MBS/ABS | — |
| — | FANNIE MAE 5 09/01/2053 | 0.56% | MBS/ABS | US |
| — | SECURITIZED ASSET BACKED RECEI 4.37546 05/25/2037 | 0.55% | MBS/ABS | — |
| — | FANNIE MAE 5.5 04/01/2054 | 0.55% | MBS/ABS | — |
| — | Freddie Mac - STACR 6.59029 04/25/2042 | 0.55% | MBS/ABS | — |
| — | FANNIE MAE 5.5 02/01/2055 | 0.54% | MBS/ABS | — |
| — | FANNIE MAE 5.5 10/01/2054 | 0.53% | MBS/ABS | — |
| — | TSY INFL IX N/B 0.375 07/15/2027 | 0.51% | Corporate Bond | US |
| — | TSY INFL IX N/B 0.5 01/15/2028 | 0.51% | Corporate Bond | US |
| — | FREDDIE MAC 4 12/25/2053 | 0.50% | MBS/ABS | — |
| — | Freddie Mac - STACR 5.49029 08/25/2044 | 0.49% | MBS/ABS | — |
| — | FANNIE MAE 6 03/01/2054 | 0.48% | MBS/ABS | — |
| — | GOVERNMENT NATIONAL MORTGAGE A 3 01/20/2055 | 0.47% | MBS/ABS | — |
| — | FREDDIE MAC 4.8 01/01/2030 | 0.46% | MBS/ABS | — |
| — | FANNIE MAE 2.5 03/01/2051 | 0.44% | MBS/ABS | — |
| — | Verus Securitization Trust 5.448 05/25/2070 | 0.44% | Corporate Bond | — |
| — | FREDDIE MAC 4.44029 06/25/2056 | 0.43% | MBS/ABS | — |
| — | FANNIE MAE 4 12/01/2052 | 0.43% | MBS/ABS | — |
| — | FREDDIE MAC 5.5 06/01/2055 | 0.42% | MBS/ABS | — |
| — | FREDDIE MAC 3 08/01/2050 | 0.41% | MBS/ABS | — |
| — | FREDDIE MAC 4.5985 10/25/2056 | 0.41% | MBS/ABS | — |
| — | FANNIE MAE 4.548 03/01/2053 | 0.41% | MBS/ABS | — |
| — | FANNIE MAE 4 03/25/2054 | 0.40% | MBS/ABS | — |
| — | PRP Advisors, LLC 6.255 05/25/2030 | 0.39% | Corporate Bond | — |
| — | FANNIE MAE 5 01/25/2054 | 0.39% | MBS/ABS | — |
| — | Verus Securitization Trust 5.635 07/25/2071 | 0.39% | Corporate Bond | — |
| — | FREDDIE MAC 5 07/01/2055 | 0.38% | MBS/ABS | — |
| — | FANNIE MAE 5.5 07/01/2053 | 0.38% | MBS/ABS | — |
| — | FREDDIE MAC 5.5 07/01/2054 | 0.37% | MBS/ABS | — |
| — | Fannie Mae - CAS 7.04029 01/25/2043 | 0.37% | MBS/ABS | — |
| — | FANNIE MAE 6 02/01/2055 | 0.37% | MBS/ABS | — |
| — | FANNIE MAE 3 11/25/2038 | 0.37% | MBS/ABS | — |
| — | GOVERNMENT NATIONAL MORTGAGE A 4.87449 08/20/2052 | 0.36% | MBS/ABS | — |
| — | FANNIEMAE-ACES 2.58666 04/25/2032 | 0.36% | MBS/ABS | — |
| — | MORGAN STANLEY REREMIC TRUST 4.08652 01/26/2051 | 0.33% | Corporate Bond | — |
| — | SECURITIZED ASSET BACKED RECEI 4.41546 05/25/2037 | 0.33% | MBS/ABS | — |
Non-Equity Breakdown
State Street(R) DoubleLine(R) Total Return Tactical ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-28)
Net assets:
$4.18B
· 1729 total positions
· equity 0.00%
· non-equity 99.33%
Non-equity holdings
— 1726 positions,
99.33% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Mortgage-backed (US Govt-Sponsored Entity) | 32.25% | $1.35B | 164 |
| Mortgage-backed (Corporate) | 15.47% | $646.1M | 315 |
| US Treasury | 12.37% | $516.8M | 7 |
| Corporate | 12.20% | $509.8M | 694 |
| Short-term investment | 8.20% | $342.5M | 4 |
| ABS-O | 7.06% | $294.7M | 79 |
| Mortgage-backed (US Govt Agency) | 5.54% | $231.6M | 57 |
| CBO/CDO (Corporate) | 4.01% | $167.4M | 105 |
| Corporate | 1.01% | $42.3M | 244 |
| Debt | 0.44% | $18.3M | 24 |
| Non-US Sovereign | 0.41% | $17.2M | 25 |
| Derivative (interest rate) | 0.35% | $14.4M | 5 |
| Loan | 0.01% | $523467 | 3 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -0.04% | -1.23% | 2.79% | 0.40% | 0.76% | 0.12% | 0.47% |
| Feb | -1.02% | -0.86% | -2.79% | -1.44% | 2.46% | 1.57% | -0.35% |
| Mar | -0.80% | -3.01% | 2.32% | 0.86% | 0.02% | -1.76% | -0.40% |
| Apr | 0.64% | -2.80% | 0.24% | -1.54% | 0.17% | 0.40% | -0.48% |
| May | 0.06% | -0.07% | -0.25% | 1.23% | -0.60% | -0.08% | 0.05% |
| Jun | 0.25% | -2.02% | -0.02% | 0.71% | 1.54% | 0.28% | 0.12% |
| Jul | 0.54% | 1.63% | -0.05% | 3.05% | -0.05% | -1.25% | 0.64% |
| Aug | 0.00% | -1.96% | -0.53% | 1.13% | 0.77% | 0.28% | -0.05% |
| Sep | -0.21% | -3.76% | -1.88% | 0.98% | 1.10% | -2.73% | -1.08% |
| Oct | -0.81% | -2.23% | -1.41% | -2.69% | 0.15% | 1.10%* | -0.98% |
| Nov | 0.36% | 2.84% | 3.61% | 1.33% | 0.77% | -- | 1.78% |
| Dec | -0.86% | -1.65% | 2.63% | -2.19% | -0.35% | -- | -0.48% |
| Total | -1.89% | -14.29% | 4.53% | 1.68% | 6.91% | -2.13% | -0.87% |
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: $37.50
SMA 50: $38.10
SMA 200: $39.29
Current: $37.73
EMA 12: $37.61
EMA 26: $37.71
MACD: -0.1012 | Signal: 0.0780
BEARISH
ADX (14): 40.64
STRONG TREND
+DI: 21.06
−DI: 30.80
Momentum Oscillators
RSI (14): 50.19
NEUTRAL
Stoch %K: 83.80
Stoch %D: 84.26
Williams %R: -11.11
Volume & Volatility
BB Upper: $37.81
BB Lower: $37.20
NEUTRAL
OBV: -12,262,217
Vol SMA 20: 919,825
Vol ROC: 70.81%
ATR: $0.16
True Range: $0.12
HV 20: 3.7%
HV 30: 4.4%
HV 60: 4.0%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Stock Analysis Report: TOTL
State Street DoubleLine Total Return Tactical ETF
Executive Summary
Overall Assessment: NEUTRAL with confidence level 6/10
TOTL is a $3.6B actively managed multisector bond ETF currently trading at $37.72, positioned defensively within the fixed income landscape. The fund exhibits a strong downtrend (ADX 47.69) despite neutral momentum readings, suggesting institutional repositioning rather than panic selling. Technical signals are conflicted: bearish MACD (-0.26 histogram) and negative OBV (-16M) contrast with recent positive fund flows (+$383M over 12 months). The aggressive put/call ratio (25:1) indicates options market skepticism, yet the fund's low beta (0.12) and moderate trailing yield (5.56%) provide defensive appeal during market uncertainty.
Primary Drivers:
- Strong institutional inflows (+$383M YTD, +9.2% of assets)
- Bearish technical momentum despite stable pricing
- Elevated implied volatility (623.9% IV premium vs HV30)
- Options market pricing significant downside risk
Primary Risks:
- Persistent downtrend with strong directional conviction (ADX 47.69, -DI 35.58)
- Negative volume flow and OBV deterioration signaling distribution
- Extreme put/call skew suggesting defensive positioning or hedging
- Duration risk if bond yields continue higher
Investment Thesis: TOTL reflects institutional capital rotating toward defensive fixed income as economic uncertainty persists, evidenced by strong fund inflows and low volatility profile. However, technical deterioration (bearish MACD, negative OBV) and extreme put/call ratios suggest the market is pricing further downside, likely tied to duration sensitivity and yield curve expectations. Current positioning appears defensive but technically vulnerable to near-term weakness.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): BEARISH
- Price $37.72 trading below SMA 20 ($37.56) and SMA 50 ($38.19)
- Strong downtrend conviction: ADX 47.69 (well above 40 threshold indicating strong trend)
- Negative Directional Indicator (-DI 35.58) significantly exceeds Positive DI (+DI 24.17) by 11.4 points
- Current price within lower Bollinger Band range, suggesting downward pressure
Medium-term (1-3 months): BEARISH
- Price $37.72 below SMA 200 ($39.34), representing a 4.1% decline below the 200-day average
- Sustained position below key moving averages indicates intermediate downtrend structure
- EMA 12 ($37.53) and EMA 26 ($37.72) convergence near current price suggests momentum may stabilize but not reverse
Long-term (3-12 months): NEUTRAL-TO-BEARISH
- Fund trading 4.1% below the 200-day moving average, within normal drawdown range
- Given the fund's fixed income nature and 1,686 holdings, long-term trends are less volatile
- Recent strong inflows (+$383M YTD) suggest institutional confidence in valuation at current levels despite technical weakness
Support/Resistance Levels
| Level | Type | Interpretation | |-------|------|-----------------| | $37.72 | Current | Trading slightly above Bollinger Band middle ($37.56) | | $37.56 | Support | SMA 20 - immediate dynamic support; currently tested | | $37.08 | Support | Lower Bollinger Band - oversold support level | | $38.03 | Resistance | Upper Bollinger Band - recent resistance ceiling | | $38.19 | Resistance | SMA 50 - intermediate resistance | | $39.34 | Resistance | SMA 200 - significant structural resistance (4.1% above current) |
Critical Interpretation: Bollinger Band width of 2.51% is exceptionally narrow, indicating a volatility squeeze. Combined with bearish momentum, this suggests the fund is coiling before a potential breakout move. The narrow bands constrain near-term price action but increase probability of directional break.
Momentum Signals
RSI (14): 49.24 — NEUTRAL
- Reading is perfectly neutral at midpoint, indicating no overbought/oversold extreme
- Neither buyers nor sellers have conviction at current price levels
- Suggests momentum is balanced but not providing directional confirmation
Stochastic Oscillator:
- %K: 71.18 (overbought territory, >70)
- %D: 58.00 (moderately elevated)
- Interpretation: Stochastic is overbought despite neutral RSI, suggesting momentum divergence. This can signal potential pullback or consolidation, particularly if stochastic begins to roll over while RSI remains neutral.
Williams %R: -12.50
- Reading near zero indicates the close is near the recent high of the range
- Contradicts the downtrend narrative slightly but reflects recent consolidation
MACD: -0.19 / Signal Line: 0.07 / Histogram: -0.26 — BEARISH CROSS
- MACD is below its signal line (bearish configuration)
- Negative histogram (-0.26) is widening, indicating strengthening bearish momentum
- Critical Signal: This is the most compelling bearish technical indicator, suggesting momentum is deteriorating
- However, MACD has not yet turned positive, so bearish conviction is developing rather than confirmed
Volume Analysis
Volume Metrics - BEARISH SIGNALS:
| Metric | Value | Interpretation | |--------|-------|-----------------| | Volume SMA 20 | 886,864 | Reference baseline for normal trading | | Volume Rate of Change | -25.86% | Volume declining significantly - only 74% of 20-day average | | On-Balance Volume (OBV) | -16,002,424.97 | Deeply negative - cumulative distribution over time |
Interpretation:
- Declining volume (-25.86% below 20-day average) during a downtrend is negative confirmation: fewer shares trading on weakness suggests professional distribution rather than panic selling
- Deeply negative OBV (-16M) indicates institutional money has been systematically exiting or reducing exposure over the intermediate term
- This pattern typically precedes accelerated downward moves in fixed income ETFs as redemptions outpace new inflows
Contradiction with Fund Flows:
- SEC filings show +$383M inflows YTD, yet OBV is negative
- Explanation: Fund flows measure new investor capital, but OBV tracks price volume interaction. The negative OBV likely reflects:
- Position rebalancing within the fund (holdings sold, proceeds reinvested)
- Lower trading volumes on down days vs up days
- Duration positioning ahead of anticipated yield moves
News & Sentiment Analysis
Recent Headlines Summary
The news landscape reflects structural themes in fixed income markets rather than fund-specific catalysts:
| Date | Headline | Theme | Sentiment | |------|----------|-------|-----------| | 2023-12-27 | Bond Market Set To Roar In 2024 | Yield expectations, 2024 outlook | NEUTRAL | | 2023-12-09 | ETF Investors Flee Cash Funds, Favor Riskier Assets | Rotation out of cash into equities/bonds | POSITIVE | | 2023-06-15 | State Street Likes ETFs Amid Recession Worries | Manager recommendation during uncertainty | NEUTRAL | | 2022-07-06 | Taxable Total Return Q2 2022 Review | Fund performance review | NEUTRAL | | 2022-06-02 | Big Bond Rally Coming Despite The Fed | Contrarian bond thesis | NEUTRAL | | 2022-04-22 | Critical Role Of Fixed Income | Structural fixed income commentary | NEUTRAL |
Sentiment Assessment
Aggregate Sentiment: NEUTRAL (5 of 6 headlines) with POSITIVE undertone (1 of 6)
- Most recent data point (2023-12-09): "ETF investors flee cash-like government bond funds, favor riskier assets" — This is POSITIVE for TOTL as it operates as a tactical total-return vehicle, capturing both yield and price appreciation
- Dated headlines: Most articles are from 2022-2023; limited recent catalyst news suggests limited company-specific (fund-specific) developments
- Thematic consistency: Fixed income focus on Fed policy, recession risk, and yield curve — all aligned with TOTL
Generated
News
All TOTL news →
MarketWatchT3·34mo ago
MarketWatchT3·40mo ago
Seeking AlphaT3·52mo ago
Seeking AlphaT3·53mo ago
Seeking AlphaT3·54mo ago
Seeking AlphaT3·59mo ago
Seeking AlphaT3·59mo ago
TOTL Options Activity & IV Rank
TOTL IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 34.8%
7-DTE IV: —
Expected Move: $1.62
7-DTE Move: $1.62
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 2
Put Volume: 50
P/C Volume: 25.0
BEARISH
Call OI: 1
Put OI: 50
P/C OI: 50.0
Total OI: 51
ATM Options Pricing
ATM Call: $0.70
ATM Put: $0.93
Call %: 1.9%
Put %: 2.5%
Chain Summary
Chain Volume: 52
Chain OI: 51
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 →
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Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
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 21 · No data
30 DTE / 10d
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pts
EXTREME
as of Oct 21 · ATM 14.7% / 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)81.6HighOct 21
Straddle Price (30 DTE)$1.62Oct 21
Beta Analysis
Risk Metrics
Beta: 0.1171
Alpha: -9.60%
Correlation: 0.3771
R-Squared: 14.2%
Stock Volatility: 3.9%
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
TOTL 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.
| # | Filer | Notional Value | % of Total | Period |
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| # | Filer | Notional Value | % of Total | Period |
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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
6.35K
SI % of Float
0.01%
Days to Cover
1.00
Short Vol Ratio
79.7%
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 |
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