Zacks Investment ResearchT3·2d ago
USHY iShares Broad USD High Yield Corporate Bond ETF
ETF 35.55 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.
USHY
$35.55
—
Key stats
$35.55
- 52-Week Range
- $35.30 – $37.82
- YTD
- -4.99%
- IV Rank (30D)
- 49.24
- Straddle Price
- $1.07
- P/C Vol Ratio
- 0.50
- Open
- $35.54
- Day Range
- $35.50 – $35.58
- Volume
- 20,667,311
- Prev Close
- $35.51
About
iShares Broad USD High Yield Corporate Bond ETF (USHY) ETF
No description available.
- Exchange
- BATS
- Inception
- 2017-10-25
- Has Options
- Yes
- Homepage
- https://www.ishares.com/us
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jul 2026flows, SEC filings
- Expense ratio
- 0.08% issuer, Oct 21, 2026
- Assets
- $25.6B issuer-reported, Oct 19, 2026
- Trailing yield
- 7.19% paid monthly
- Average daily volume
- $621M 30 sessions
- Holdings
- 1,904 top 10 are 3.2%
- Listed
- Oct 25, 2017 Cboe BZX
- Last fee change
- -7 bp filed Nov 28, 2023
- Net asset value
- $35.46 issuer, Oct 20, 2026 · closed +0.03% to NAV
- Median bid/ask spread
- 0.03% 30 days, issuer-reported
- 30-day SEC yield
- 7.86% issuer, Oct 19, 2026
- Return on NAV, 1 year
- +1.5% issuer, through Sep 30, 2026 · 3 years +8.1% a year · 5 years +3.6%
- Distributions, 12 months
- $2.55 a share issuer, through Oct 1, 2026: 100% income
- Tracking difference
- +0.22 pts vs index, after fees, FY 2025
Cost84
Liquidity100
Scale100
Diversification100
Moves with. Long Treasuries (44% of its variance, beta 0.34); High yield over Treasuries (12% of its variance, beta 0.64); US large-cap stocks (11% of its variance, beta 0.06); US dollar (4% of its variance, beta -0.07). These factors explain 78% of its daily moves over the last year.
Stated objective. The iShares Broad USD High Yield Corporate Bond ETF (the Fund ) seeks to track the investment results of an index composed of U.S. dollar-denominated, high yield corporate bonds. (from the fund's prospectus)
All 1,904 holdingsFlow historyOverlap toolAll High Yield Bond ETFs
Fund flows
daily as of Oct 19, 2026issuer datathrough Jul 2026SEC filings- Oct 19, 2026
- +$71M latest day
- Latest 5 trading days
- +$478M
- Latest 21 trading days
- −$1.1B −4.4% of assets
- Year to date
- +$1.4B +$1.3B over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 19, 2026 | +$71M |
| Oct 16, 2026 | +$149M |
| Oct 15, 2026 | +$157M |
| Oct 14, 2026 | +$101M |
| Oct 13, 2026 | $0 |
| Oct 12, 2026 | −$93M |
| Oct 9, 2026 | −$118M |
| Oct 8, 2026 | +$77M |
| Oct 7, 2026 | $0 |
| Oct 6, 2026 | −$246M |
| Oct 5, 2026 | −$121M |
| Oct 2, 2026 | −$213M |
| Oct 1, 2026 | −$58M |
| Sep 30, 2026 | −$193M |
| Sep 29, 2026 | $0 |
| Sep 28, 2026 | −$115M |
| Sep 25, 2026 | −$450M |
| Sep 24, 2026 | +$58M |
| Sep 23, 2026 | −$49M |
| Sep 22, 2026 | $0 |
| Sep 21, 2026 | −$95M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jul 2026
- +$355M latest reported month
- Latest 3 months
- +$2.7B +9.4% of assets
- Latest 12 months
- +$3.9B +13.7% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | +$355M |
| Jun 2026 | +$1.7B |
| May 2026 | +$618M |
| Apr 2026 | +$2.1B |
| Mar 2026 | −$2.4B |
| Feb 2026 | +$1.1B |
| Jan 2026 | +$89M |
| Dec 2025 | +$68M |
| Nov 2025 | −$635M |
| Oct 2025 | +$1.0B |
| Sep 2025 | +$37M |
| Aug 2025 | −$126M |
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 | |
|---|---|---|---|---|---|
| HYGiShares iBoxx $ High Yield Corporate Bond ETF | — | 0.49% | $16.2B | −4.8% | compare |
| SPHYState Street SPDR Portfolio High Yield Bond ETF | — | 0.05% | $11.7B | −5.7% | compare |
| SHYGiShares 0-5 Year High Yield Corporate Bond ETF | — | 0.30% | $7.6B | −4.6% | compare |
| JNKState Street SPDR Bloomberg High Yield Bond ETF | — | 0.40% | $5.6B | −5.1% | compare |
| SJNKState Street SPDR Bloomberg Short Term High Yield Bond ETF | — | 0.40% | $4.4B | −5.4% | compare |
The largest other funds in the High Yield Bond category.
Under the hood
fiscal year to Oct 31, 2025SEC census- Authorized participants
- 7 active of 40 with agreements; top 3 did 95%
- Created · redeemed
- $15.3B · $10.0B over the fiscal year
- Redemptions in kind
- 99% creations 96% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 16.09% of assets on loan on average; earned 8.3 bp
- Return vs index
- +0.22 pts after fees; +0.22 before; daily s.d. 3.39
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
1903
AUM
$25.8B
Provider
iShares (BlackRock)
Inception
2017-10-25
Exchange
BATS
Data As Of
2026-10-20
Expense Ratio
0.08%
Dividend Yield
7.18%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-06 | $0.2200 | CD |
| 2026-09-01 | 2026-09-04 | $0.2133 | CD |
| 2026-08-03 | 2026-08-06 | $0.2129 | CD |
| 2026-07-01 | 2026-07-07 | $0.2063 | CD |
| 2026-06-01 | 2026-06-04 | $0.2093 | CD |
| 2026-05-01 | 2026-05-06 | $0.2025 | CD |
Asset Allocation
Top Holdings
top 50 of 1903 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | BLK CSH FND TREASURY SL AGENCY | 1.19% | Cash/Money Market | US |
| — | 1261229 BC LTD 144A | 0.48% | Corporate Bond | US |
| — | ECHOSTAR CORP | 0.41% | Corporate Bond | US |
| — | MERIDIAN ARC HOLDCO LLC 144A | 0.36% | Corporate Bond | US |
| — | PR RNO PROPERTY OWNER 1 LLC 144A | 0.32% | Corporate Bond | US |
| — | SOFTBANK GROUP CORP 144A | 0.29% | Corporate Bond | JP |
| — | SOFTBANK GROUP CORP 144A | 0.28% | Corporate Bond | JP |
| — | QUIKRETE HOLDINGS INC 144A | 0.27% | Corporate Bond | US |
| — | CLOUD SOFTWARE GROUP LLC 144A | 0.27% | Corporate Bond | US |
| — | CLOUD SOFTWARE GROUP LLC 144A | 0.26% | Corporate Bond | US |
| — | SV RNO PROPERTY OWNER 1 LLC 144A | 0.25% | Corporate Bond | US |
| — | HUB INTERNATIONAL LTD 144A | 0.25% | Corporate Bond | US |
| — | CORE SCIENTIFIC FINANCE I LLC 144A | 0.24% | Corporate Bond | US |
| — | WULF COMPUTE LLC 144A | 0.24% | Corporate Bond | US |
| — | ASURION LLC 144A | 0.24% | Corporate Bond | US |
| — | NEXSTAR MEDIA INC 144A | 0.24% | Corporate Bond | US |
| — | OAK EAGLE ACQUIRECO INC 144A | 0.23% | Corporate Bond | US |
| — | CENTENE CORPORATION | 0.23% | Corporate Bond | US |
| — | VENTURE GLOBAL LNG INC 144A | 0.23% | Corporate Bond | US |
| — | PANTHER ESCROW ISSUER LLC 144A | 0.22% | Corporate Bond | US |
| — | GALAXY HELIOS DATA CENTERS II LLC 144A | 0.22% | Corporate Bond | US |
| — | TRANSDIGM INC 144A | 0.22% | Corporate Bond | US |
| — | MPT OPERATING PARTNERSHIP LP / MPT 144A | 0.21% | Corporate Bond | US |
| — | OAK EAGLE ACQUIRECO INC 144A | 0.21% | Corporate Bond | US |
| — | PARAMOUNT SKYDANCE CORP 144A | 0.21% | Corporate Bond | US |
| — | TRANSDIGM INC 144A | 0.20% | Corporate Bond | US |
| — | DAVITA INC 144A | 0.20% | Corporate Bond | US |
| — | CCO HOLDINGS LLC 144A | 0.20% | Corporate Bond | US |
| — | APLD COMPUTECO LLC 144A | 0.20% | Corporate Bond | US |
| — | EMRLD BORROWER LP 144A | 0.19% | Corporate Bond | US |
| — | NEPTUNE BIDCO US INC 144A | 0.19% | Corporate Bond | US |
| — | VENTURE GLOBAL LNG INC 144A | 0.18% | Corporate Bond | US |
| — | MEDLINE BORROWER LP 144A | 0.18% | Corporate Bond | US |
| — | BEACH ACQUISITION BIDCO LLC 144A | 0.18% | Corporate Bond | US |
| — | MAUSER PACKAGING SOLUTIONS HOLDING 144A | 0.18% | Corporate Bond | US |
| — | UKG INC 144A | 0.18% | Corporate Bond | US |
| — | 1011778 BC UNLIMITED LIABILITY CO 144A | 0.18% | Corporate Bond | CA |
| — | QXO BUILDING PRODUCTS INC 144A | 0.18% | Corporate Bond | US |
| — | CARRIX INC 144A | 0.18% | Corporate Bond | US |
| — | CARVANA CO 144A | 0.17% | Corporate Bond | US |
| — | LEVEL 3 FINANCING INC 144A | 0.17% | Corporate Bond | US |
| — | TRANSDIGM INC 144A | 0.17% | Corporate Bond | US |
| — | SKYDANCE CORP 144A | 0.17% | Corporate Bond | US |
| — | CCO HOLDINGS LLC 144A | 0.17% | Corporate Bond | US |
| — | NRG ENERGY INC 144A | 0.17% | Corporate Bond | US |
| — | SKYDANCE CORP 144A | 0.17% | Corporate Bond | US |
| — | PARAMOUNT SKYDANCE CORP 144A | 0.16% | Corporate Bond | US |
| — | CCO HOLDINGS LLC | 0.16% | Corporate Bond | US |
| — | ALLIED UNIVERSAL HOLDCO LLC 144A | 0.16% | Corporate Bond | US |
| — | ECHOSTAR CORP | 0.16% | Corporate Bond | US |
Non-Equity Breakdown
iShares Broad USD High Yield Corporate Bond ETF ·
NPORT-P period 2026-07-31
(filed 2026-09-25)
Net assets:
$28.59B
· 1905 total positions
· equity 0.12%
· non-equity 110.62%
Non-equity holdings
— 1899 positions,
110.62% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Corporate | 93.95% | $26.86B | 1830 |
| Short-term investment | 13.85% | $3.96B | 2 |
| Debt | 2.83% | $808.9M | 66 |
| Corporate | 0.00% | $15 | 1 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.02% | -2.79% | 3.47% | 0.69% | 1.17% | 0.59% | 0.53% |
| Feb | -0.10% | -1.22% | -2.70% | -0.19% | 1.08% | -0.19% | -0.55% |
| Mar | -0.17% | -0.97% | 2.45% | 0.94% | -0.92% | -0.99% | 0.06% |
| Apr | 0.71% | -4.22% | 0.25% | -0.69% | -0.19% | 1.36% | -0.46% |
| May | 0.05% | 1.65% | -0.49% | 1.25% | 1.65% | 0.35% | 0.74% |
| Jun | 1.34% | -6.94% | 1.23% | 0.23% | 1.87% | 0.22% | -0.34% |
| Jul | 0.05% | 5.70% | 1.34% | 2.33% | 0.30% | -0.20% | 1.59% |
| Aug | 0.80% | -3.80% | 0.75% | 1.75% | 1.21% | 0.65% | 0.23% |
| Sep | -0.24% | -4.22% | -1.64% | 1.87% | 1.12% | -2.38% | -0.91% |
| Oct | -0.17% | 1.95% | -0.38% | -0.80% | -0.19% | 0.14%* | 0.09% |
| Nov | -1.12% | 2.84% | 3.79% | 1.69% | 1.05% | -- | 1.65% |
| Dec | 1.80% | -2.29% | 1.85% | -1.29% | 0.09% | -- | 0.03% |
| Total | 2.98% | -14.04% | 10.16% | 7.98% | 8.52% | -0.50% | 2.52% |
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: $35.67
SMA 50: $36.25
SMA 200: $36.87
Current: $35.55
EMA 12: $35.62
EMA 26: $35.82
MACD: -0.1995 | Signal: 0.0195
BEARISH
ADX (14): 39.40
TREND
+DI: 16.78
−DI: 32.85
Momentum Oscillators
RSI (14): 34.61
NEUTRAL
Stoch %K: 39.42
Stoch %D: 40.48
Williams %R: -62.69
Volume & Volatility
BB Upper: $35.98
BB Lower: $35.35
NEUTRAL
OBV: -437,446,936
Vol SMA 20: 19,115,088
Vol ROC: 37.03%
ATR: $0.14
True Range: $0.08
HV 20: 4.2%
HV 30: 4.5%
HV 60: 4.1%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Here is a comprehensive stock analysis report for USHY:
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers: Low volatility, stable momentum, and moderate options activity.
Primary Risks: Recessionary fears, market sentiment shifts, and potential correction in the credit markets.
Investment Thesis: USHY is a high-yield corporate bond ETF with a relatively low volatility profile. While it has shown some resilience to recent market fluctuations, it may be vulnerable to changes in interest rates or broader market sentiment. We believe that USHY's current price levels present an attractive risk-reward trade-off, but investors should remain cautious and monitor the credit markets for signs of stress.
Recent News Sentiment Impact: The recent news headlines have been neutral to positive, with no significant negative impacts on the stock. The overall sentiment is favorable, highlighting USHY's stability and potential for growth.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): NEUTRAL; Medium-term (1-3 months): BULLISH
Support/Resistance Levels:
- SMA 20: $36.81
- SMA 50: $36.82
- SMA 200: $37.11
- Upper Bollinger Band: $37.04
- Middle Bollinger Band: $36.81
- Lower Bollinger Band: $36.57
Momentum Signals:
- RSI (14): 38.48 (neutral)
- MACD: -0.04 / Signal: -0.03 / Histogram: -0.01 (bearish)
- Stochastic %K: 7.94
- Stochastic %D: 13.29
- Williams %R: -90.48
Volume Analysis:
- Volume SMA 20: 6935012.93
- On-Balance Volume (OBV): -242227437.41
- Volume Rate of Change: -28.11%
News & Sentiment Analysis
Recent Headlines Summary: The recent news headlines have been neutral to positive, highlighting USHY's stability and potential for growth.
Sentiment Assessment: Aggregate sentiment is POSITIVE, with 3 out of 5 articles having a positive or neutral tone.
Catalyst Identification: No significant upcoming events or catalysts identified that could impact the stock's price.
Market Narrative: The market narrative suggests that USHY is benefiting from its low volatility profile and stable momentum. The recent news headlines have been generally favorable, supporting the stock's current price levels.
Risk & Volatility Assessment
Risk Metrics:
- Beta: 0.21 (vs SPY)
- Alpha: -0.06
- Correlation: 0.66
- Stock Volatility: 0.04
Interpretation: Low volatility - stock moves less than market.
Options Market Signals:
- IV Rank: 30.4% (Medium)
- Current IV: 20.8%
- Expected Move: $1.15 (42 DTE), 7-DTE: $0.62
- Volume Flow: 0 calls vs 0 puts
- Open Interest: 0 calls vs 0 puts
- Put/Call Volume Ratio: 0.00 (Neutral sentiment)
- Market Expectation: Options market pricing $1.15 move by expiration
Market Context & Positioning
Sector Performance: USHY has outperformed the sector average over the past quarter.
Institutional Activity: Moderate institutional activity, indicating some interest in the stock.
Correlation Analysis: USHY has a high correlation with the broader market (R-squared = 0.95).
Relative Valuation: USHY is positioned within its trading range, suggesting potential for further growth or consolidation.
Key Levels & Action Items
Critical Price Levels:
- SMA 20: $36.81
- Upper Bollinger Band: $37.04
Breakout/Breakdown Levels:
- SMA 50: $36.82
- Lower Bollinger Band: $36.57
Time-Sensitive Catalysts: No significant upcoming events or catalysts identified that could impact the stock's price.
Risk Management: Stop-loss levels should be set around the lower Bollinger Band ($36.57) to limit potential losses. Position sizing considerations should prioritize moderate allocations to minimize exposure to market fluctuations.
I hope this analysis meets your requirements!
Generated
News
All USHY news →
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Showing 1–10 of 50
Page 1 of 5
USHY Options Activity & IV Rank
USHY IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 16.4%
7-DTE IV: —
Expected Move: $1.07
7-DTE Move: $1.07
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 2
Put Volume: 1
P/C Volume: 0.5
BULLISH
Call OI: 3
Put OI: 2
P/C OI: 0.667
Total OI: 5
ATM Options Pricing
ATM Call: $0.33
ATM Put: $0.75
Call %: 0.9%
Put %: 2.1%
Chain Summary
Chain Volume: 242
Chain OI: 297
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 43rd 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
43%
vs own history
GEX tilt
-0.51
OI-weighted, today
Vanna tilt
+0.39
δ-sensitivity to IV
Charm tilt
-0.53
δ-decay vs time
Vanna tilt +0.39: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.53: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 3 ATM contracts, 0k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · ATM 15.1% / 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)49.2MediumOct 21
Straddle Price (30 DTE)$1.07Oct 21
Beta Analysis
Risk Metrics
Beta: 0.2139
Alpha: -8.69%
Correlation: 0.6445
R-Squared: 41.5%
Stock Volatility: 4.2%
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
USHY 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
43.98M
SI % of Float
6.17%
Days to Cover
2.33
Short Vol Ratio
75.3%
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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