The Motley FoolT3·10d ago
VGIT Vanguard Intermediate-Term Treasury ETF
ETF 57.00 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.
VGIT
$57.00
—
Key stats
$57.00
- 52-Week Range
- $56.35 – $60.76
- YTD
- -4.86%
- IV Rank (30D)
- 3.6
- Straddle Price
- $1.35
- P/C Vol Ratio
- 0.41
- Open
- $57.08
- Day Range
- $56.91 – $57.12
- Volume
- 4,923,554
- Prev Close
- $57.03
About
Vanguard Intermediate-Term Treasury ETF (VGIT) ETF
No description available.
- Exchange
- XNAS
- Inception
- 2009-11-19
- Has Options
- Yes
- Homepage
- https://investor.vanguard.com/etf
Fund profile
holdings as of Sep 30, 2026issuer datathrough May 2026flows, SEC filings
- Expense ratio
- 0.03% issuer, Oct 21, 2026
- Assets
- $39.9B shares × price, Oct 20, 2026
- Trailing yield
- 4.02% paid monthly
- Average daily volume
- $329M 30 sessions
- Holdings
- 105 top 10 are 18.4%
- Listed
- Nov 19, 2009 Nasdaq
- Last fee change
- -1 bp filed Feb 3, 2025
- Net asset value
- $57.01 issuer, Oct 20, 2026 · closed +0.04% to NAV
- 30-day SEC yield
- 5.03% issuer, Oct 16, 2026
- Tracking difference
- -0.03 pts vs index, after fees, FY 2025
Cost97
Liquidity100
Scale100
Diversification94
Moves with. Long Treasuries (48% of its variance, beta 0.22); High yield over Treasuries (14% of its variance, beta -0.25); US large-cap stocks (5% of its variance, beta 0.05); US dollar (4% of its variance, beta -0.06). These factors explain 76% of its daily moves over the last year.
Stated objective. Vanguard Intermediate-Term Treasury Index Fund (the Fund) seeks to track the performance of a market-weighted Treasury index with an intermediate-term dollar-weighted average maturity. (from the fund's prospectus)
All 105 holdingsFlow historyOverlap toolAll Intermediate Treasury ETFs
Fund flows
through May 2026SEC filingsReported for all 3 share classes of this fund together, including its mutual fund classes.
- May 2026
- +$912M latest reported month
- Latest 3 months
- +$1.7B +3.4% of assets
- Latest 12 months
- +$10.1B +20.5% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | +$912M |
| Apr 2026 | +$263M |
| Mar 2026 | +$504M |
| Feb 2026 | +$1.0B |
| Jan 2026 | +$2.7B |
| Dec 2025 | +$929M |
| Nov 2025 | +$1.0B |
| Oct 2025 | +$1.1B |
| Sep 2025 | +$1.0B |
| Aug 2025 | +$308M |
| Jul 2025 | +$426M |
| Jun 2025 | −$9.1M |
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 | |
|---|---|---|---|---|---|
| IEFiShares 7-10 Year Treasury Bond ETF | — | 0.15% | $41.3B | −7.3% | compare |
| IEIiShares 3-7 Year Treasury Bond ETF | — | 0.15% | $16.8B | −5.1% | compare |
| SCHRSchwab Intermediately-Term U.S. Treasury ETF | — | 0.03% | $13.6B | −5.7% | compare |
| SPTIState Street SPDR Portfolio Intermediate Term Treasury ETF | — | 0.03% | $10.8B | −5.5% | compare |
| UTENUS Treasury 10 Year Note ETF | — | 0.15% | $286M | −8.0% | compare |
The largest other funds in the Intermediate Treasury category.
Under the hood
fiscal year to Aug 31, 2025SEC census- Authorized participants
- 7 active of 40 with agreements; top 3 did 95%
- Created · redeemed
- $8.4B · $5.9B over the fiscal year
- Redemptions in kind
- 1% creations 1% in kind
- Creation unit
- 25,000 shares
- Securities lending
- not authorized
- Return vs index
- -0.03 pts after fees; +0.02 before; daily s.d. 0.45
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 2026-09-30
Holdings
105
AUM
$47.5B
Provider
Vanguard
Inception
2009-11-19
Exchange
XNAS
Data As Of
2026-09-30
Expense Ratio
0.03%
Dividend Yield
4.02%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-05 | $0.1894 | CD |
| 2026-09-01 | 2026-09-03 | $0.2061 | CD |
| 2026-08-03 | 2026-08-05 | $0.1945 | CD |
| 2026-07-01 | 2026-07-06 | $0.1879 | CD |
| 2026-06-01 | 2026-06-03 | $0.1935 | CD |
| 2026-05-01 | 2026-05-05 | $0.1872 | CD |
Asset Allocation
Top Holdings
top 50 of 105 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | United States Treasury Note/Bond | 1.91% | Treasury | US |
| — | United States Treasury Note/Bond | 1.89% | Treasury | US |
| — | United States Treasury Note/Bond | 1.87% | Treasury | US |
| — | United States Treasury Note/Bond | 1.85% | Treasury | US |
| — | United States Treasury Note/Bond | 1.83% | Treasury | US |
| — | United States Treasury Note/Bond | 1.82% | Treasury | US |
| — | United States Treasury Note/Bond | 1.82% | Treasury | US |
| — | United States Treasury Note/Bond | 1.81% | Treasury | US |
| — | United States Treasury Note/Bond | 1.81% | Treasury | US |
| — | United States Treasury Note/Bond | 1.81% | Treasury | US |
| — | United States Treasury Note/Bond | 1.78% | Treasury | US |
| — | United States Treasury Note/Bond | 1.66% | Treasury | US |
| — | United States Treasury Note/Bond | 1.65% | Treasury | US |
| — | United States Treasury Note/Bond | 1.64% | Treasury | US |
| — | United States Treasury Note/Bond | 1.54% | Treasury | US |
| — | United States Treasury Note/Bond | 1.54% | Treasury | US |
| — | United States Treasury Note/Bond | 1.51% | Treasury | US |
| — | United States Treasury Note/Bond | 1.50% | Treasury | US |
| — | United States Treasury Note/Bond | 1.47% | Treasury | US |
| — | United States Treasury Note/Bond | 1.46% | Treasury | US |
| — | United States Treasury Note/Bond | 1.46% | Treasury | US |
| — | United States Treasury Note/Bond | 1.46% | Treasury | US |
| — | United States Treasury Note/Bond | 1.42% | Treasury | US |
| — | United States Treasury Note/Bond | 1.41% | Treasury | US |
| — | United States Treasury Note/Bond | 1.37% | Treasury | US |
| — | United States Treasury Note/Bond | 1.19% | Treasury | US |
| — | United States Treasury Note/Bond | 1.18% | Treasury | US |
| — | United States Treasury Note/Bond | 1.16% | Treasury | US |
| — | United States Treasury Note/Bond | 1.14% | Treasury | US |
| — | United States Treasury Note/Bond | 1.13% | Treasury | US |
| — | United States Treasury Note/Bond | 1.12% | Treasury | US |
| — | United States Treasury Note/Bond | 1.12% | Treasury | US |
| — | United States Treasury Note/Bond | 1.11% | Treasury | US |
| — | United States Treasury Note/Bond | 1.11% | Treasury | US |
| — | United States Treasury Note/Bond | 1.11% | Treasury | US |
| — | United States Treasury Note/Bond | 1.10% | Treasury | US |
| — | United States Treasury Note/Bond | 1.10% | Treasury | US |
| — | United States Treasury Note/Bond | 1.10% | Treasury | US |
| — | United States Treasury Note/Bond | 1.09% | Treasury | US |
| — | United States Treasury Note/Bond | 1.09% | Treasury | US |
| — | United States Treasury Note/Bond | 1.08% | Treasury | US |
| — | United States Treasury Note/Bond | 1.07% | Treasury | US |
| — | United States Treasury Note/Bond | 1.07% | Treasury | US |
| — | United States Treasury Note/Bond | 1.06% | Treasury | US |
| — | United States Treasury Note/Bond | 1.04% | Treasury | US |
| — | United States Treasury Note/Bond | 1.01% | Treasury | US |
| — | United States Treasury Note/Bond | 1.00% | Treasury | US |
| — | United States Treasury Note/Bond | 0.98% | Treasury | US |
| — | United States Treasury Note/Bond | 0.98% | Treasury | US |
| — | United States Treasury Note/Bond | 0.88% | Treasury | US |
Non-Equity Breakdown
VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND ·
NPORT-P period 2026-05-31
(filed 2026-07-29)
Net assets:
$49.32B
· 104 total positions
· equity 0.00%
· non-equity 99.11%
Non-equity holdings
— 104 positions,
99.11% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| US Treasury | 98.73% | $48.69B | 103 |
| Short-term investment | 0.38% | $189.3M | 1 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -0.49% | -1.07% | 1.98% | 0.59% | 0.55% | -0.02% | 0.26% |
| Feb | -1.45% | -0.40% | -2.96% | -1.86% | 1.93% | 1.84% | -0.48% |
| Mar | -1.18% | -3.94% | 3.63% | 0.12% | 0.30% | -1.19% | -0.38% |
| Apr | 0.43% | -1.86% | 0.37% | -1.46% | 1.08% | -0.03% | -0.24% |
| May | 0.22% | 1.10% | -0.28% | 1.14% | -0.42% | -0.12% | 0.27% |
| Jun | 0.13% | -0.20% | -1.46% | 0.60% | 1.44% | 0.29% | 0.13% |
| Jul | 1.27% | 1.15% | 0.21% | 2.80% | -0.22% | -0.59% | 0.77% |
| Aug | -0.54% | -3.08% | 0.19% | 0.82% | 0.55% | -0.07% | -0.35% |
| Sep | -1.01% | -2.87% | -1.33% | 0.70% | 0.44% | -2.09% | -1.03% |
| Oct | -1.00% | -1.48% | -0.34% | -2.65% | 0.27% | 0.64%* | -0.76% |
| Nov | 0.42% | 2.66% | 2.32% | 1.04% | 0.82% | -- | 1.45% |
| Dec | -1.19% | -1.65% | 1.66% | -1.41% | -0.25% | -- | -0.57% |
| Total | -4.34% | -11.23% | 3.87% | 0.30% | 6.66% | -1.38% | -1.02% |
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: $56.77
SMA 50: $57.46
SMA 200: $58.83
Current: $57.00
EMA 12: $56.91
EMA 26: $57.02
MACD: -0.1023 | Signal: 0.0918
BEARISH
ADX (14): 32.00
TREND
+DI: 20.49
−DI: 27.12
Momentum Oscillators
RSI (14): 48.78
NEUTRAL
Stoch %K: 73.63
Stoch %D: 77.82
Williams %R: -28.61
Volume & Volatility
BB Upper: $57.13
BB Lower: $56.42
NEUTRAL
OBV: -62,846,986
Vol SMA 20: 5,986,820
Vol ROC: -27.17%
ATR: $0.22
True Range: $0.22
HV 20: 3.2%
HV 30: 4.2%
HV 60: 3.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
VGIT Stock Analysis Report
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
VGIT (Vanguard Intermediate-Term Treasury ETF) is experiencing a significant technical breakdown with strong bearish momentum despite positive news sentiment. The stock is trading below all major moving averages with an RSI of 24.31 (deeply oversold) and a strong downtrend confirmed by ADX of 41.97 with -DI at 36.55 significantly exceeding +DI at 10.46. The primary driver is the established downtrend, while the key risk is continued selling pressure and mean reversion testing of lower support levels.
Investment Thesis: VGIT presents a technical sell-off that contradicts its positive news sentiment and defensive characteristics. While the extreme RSI oversold condition and low beta (0.07) suggest potential bounce potential, the strong downtrend (ADX 41.97) and negative MACD histogram (-0.36) indicate institutional selling that may continue before stabilization. Conservative income-focused investors may find accumulation opportunities near lower support, but near-term price weakness appears likely.
Recent News Sentiment Impact: News sentiment is POSITIVE but represents outdated comparative analysis rather than fundamental catalysts. Headlines focus on ETF comparisons (VGIT vs BND, VCIT, IEI) and tactical allocation positioning. The most recent headline (2026-10-04) references market crash hedging potential, which paradoxically aligns with treasury strength, yet price action contradicts this—suggesting market repricing of rate expectations rather than traditional safe-haven flows.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): BEARISH DOWNTREND
- Price at $56.44 trading below all exponential moving averages (EMA 12: $56.82, EMA 26: $57.21)
- Trading below simple moving averages (SMA 20: $57.07, SMA 50: $57.83, SMA 200: $59.02)
- Clear descending pattern with price declining from 200-day MA of $59.02 (-4.4% drawdown)
Medium-term (1-3 months): BEARISH DOWNTREND
- Price significantly below 50-day and 200-day moving averages, indicating sustained selling pressure
- Gap of $2.58 between current price and 200-day MA suggests institutional repositioning
Long-term (3-12 months): NEUTRAL TO BEARISH
- Extended positioning below long-term averages warrants monitoring for reversal patterns
- For a Treasury ETF, this suggests rising rate environment expectations
Support/Resistance Levels
Immediate Support:
- Lower Bollinger Band: $56.28 ($.16 below current price)
- SMA 20: $57.07 ($.63 above current price)
Secondary Support:
- SMA 50: $57.83 (primary short-term support)
- Upper Bollinger Band: $57.87
Resistance Levels:
- SMA 50: $57.83 (first resistance to reclaim uptrend)
- SMA 200: $59.02 (major long-term resistance; -4.4% target)
Critical Technical Level:
- $56.28 Bollinger Band lower edge—break below triggers potential acceleration to $55.50-$55.75 range
Momentum Signals
RSI (14): 24.31 - DEEPLY OVERSOLD
- Reading well below 30 threshold indicates extreme oversold conditions
- Typically suggests potential mean reversion bounce, but in strong downtrends requires confirmation
- Risk: RSI can remain oversold in strong bearish momentum (no immediate buy signal without volume/MACD confirmation)
MACD: -0.39 / Signal: -0.03 / Histogram: -0.36 - BEARISH MOMENTUM
- MACD (-0.39) trading below signal line (-0.03) confirming downside momentum
- Negative histogram (-0.36) indicates momentum remains bearish
- No bullish crossover signal present; would require MACD to cross above signal line to confirm momentum reversal
Bollinger Bands: NEUTRAL POSITION WITH DOWNSIDE BIAS
- Price trading at $56.44 between lower band ($56.28) and middle band ($57.07)
- Band width of 2.79 suggests moderate volatility (neither squeeze nor extreme expansion)
- Position near lower band indicates potential mean reversion bounce OR continued breakdown through support
Volume Analysis
Volume Trend: SIGNIFICANT SELLING PRESSURE
- Volume Rate of Change: -59.39% (substantial volume decline)
- Volume SMA 20: 5.39M shares (baseline declining)
- On-Balance Volume (OBV): -91.89M (deeply negative, confirming down-volume accumulation)
- Interpretation: Declining volume into oversold conditions suggests capitulation selling, potentially exhausting sellers, OR early institutional exit from position
Institutional Interest Signal:
- Low volume on the decline is BEARISH (suggests more selling may occur at any price)
- Negative OBV confirms more volume on down days than up days
- Recovery would require significant volume surge to confirm reversal credibility
News & Sentiment Analysis
Recent Headlines Summary
All six recent headlines present comparative ETF analysis rather than fundamental news events:
- Market Crash Hedging (2026-10-04): Frames VGIT as defensive allocation during equity selloff
- VGIT vs. IEI Maturity Comparison (2026-04-25): Analyzes duration/rate sensitivity differences
- VGIT vs. BND Breadth (2026-04-11): Compares broad bond exposure vs. intermediate treasuries
- BND vs. VGIT Risk Profile (2026-02-08): Highlights VGIT's lower-risk positioning
- VCIT vs. VGIT Income (2026-02-07): Examines credit risk vs. treasury yield trade-off
- VGIT vs. MUB Conservative Allocation (2026-01-26): Strategic positioning for conservative portfolios
Sentiment Assessment
Aggregate News Sentiment: POSITIVE (100% positive headlines)
- All headlines position VGIT favorably as defensive, lower-risk, or strategic allocation option
- No negative news regarding fund performance, manager changes, or structural issues
Critical Caveat: NEWS SENTIMENT STRONGLY CONTRADICTS TECHNICAL SIGNALS
- Positive news frames VGIT as defensive/safe-haven allocation
- Yet price is in strong downtrend with -59.39% volume decline and deeply negative OBV
- Discrepancy Interpretation: Market may be repricing expectations around interest rates rising, making intermediate treasuries less attractive; news sentiment is lagging technical reality
Catalyst Identification
Immediate (1-7 days):
- None identified from news headlines
- Technical support test at $56.28 could trigger forced selling or algorithmic stops
Near-term (1-4 weeks):
- Treasury yield curve movements (not detailed in provided data)
- Federal Reserve communication regarding rate expectations
- Economic data releases (inflation, employment) affecting rate trajectory
Medium-term (1-3 months):
- Quarterly rate environment reassessment
- Options expiration cycles (46 DTE suggests mid-November expiration)
Market Narrative
Narrative Conflict Analysis:
- News Narrative: "VGIT is an attractive defensive allocation for various market conditions"
- Technical Narrative: "Institutional sellers are exiting intermediate treasury positions ahead of rising rate expectations"
- Resolution: The positive news reflects old conventional wisdom about treasuries; technical breakdown suggests market participants are frontrunning rate hikes or yield curve steepening
Risk & Volatility Assessment
Beta Interpretation
Beta: 0.07 (vs. SPY) - EXTREMELY LOW/DEFENSIVE
- Stock moves only 0.07x for every 1% move in S&P 500
- Confirms VGIT is treasury-based (bonds = negative correlation to equities during rallies, positive during crashes)
- Beta <0.8 threshold classification: DEFENSIVE
- Risk Profile: VGIT should move inversely to equity volatility, yet is selling off despite potential equity market weakness
Alpha: -0.07 - SLIGHT UNDERPERFORMANCE
- Marginal underperformance vs. risk-adjusted expectations
- Not significant enough to indicate structural underperformance
Correlation: 0.26 - LOW POSITIVE CORRELATION
- VGIT shows weak positive
Generated
News
All VGIT news →
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VGIT Options Activity & IV Rank
VGIT IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 5.4%
7-DTE IV: —
Expected Move: $1.35
7-DTE Move: $1.35
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 17
Put Volume: 7
P/C Volume: 0.412
BULLISH
Call OI: 640
Put OI: 51
P/C OI: 0.08
Total OI: 691
ATM Options Pricing
ATM Call: $1.00
ATM Put: $0.35
Call %: 1.8%
Put %: 0.6%
Chain Summary
Chain Volume: 161
Chain OI: 921
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
HIGH γ vs HISTORY
Estimated net dealer gamma is at the 95th percentile of this name's own daily history, near the high end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
95%
vs own history
GEX tilt
+0.86
OI-weighted, today
Vanna tilt
+0.08
δ-sensitivity to IV
Charm tilt
-0.95
δ-decay vs time
Charm tilt -0.95: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 11 ATM contracts, 1k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · ATM 5.4% / 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)3.6LowOct 21
Straddle Price (30 DTE)$1.35Oct 21
Beta Analysis
Risk Metrics
Beta: 0.0847
Alpha: -7.25%
Correlation: 0.2951
R-Squared: 8.7%
Stock Volatility: 3.6%
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
VGIT 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.
1 filers$984.97K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $984.97K | 100.00% | 2026-06-30 |
1 filers$365.68K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $365.68K | 100.00% | 2026-06-30 |
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
333.21K
SI % of Float
0.05%
Days to Cover
1.00
Short Vol Ratio
45.1%
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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