The Motley FoolT3·6d ago
XHB State Street SPDR S&P Homebuilders ETF
ETF 95.60 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.
XHB
$95.60
—
Key stats
$95.60
Pre-market
$94.91
-0.72%
- 52-Week Range
- $91.87 – $123.13
- YTD
- -8.56%
- IV Rank (30D)
- 39.63
- Straddle Price
- $6.79
- P/C Vol Ratio
- 0.56
- Open
- $96.61
- Day Range
- $94.81 – $96.74
- Volume
- 1,451,325
- Prev Close
- $96.22
About
State Street SPDR S&P Homebuilders ETF (XHB) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2006-01-31
- 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
- 0.35% issuer, Oct 21, 2026
- Assets
- $1.4B issuer-reported, Oct 19, 2026
- Trailing yield
- 1.14% paid quarterly
- Average daily volume
- $198M 30 sessions
- Holdings
- 36 top 10 are 35.5%
- Listed
- Jan 31, 2006 NYSE Arca
- Net asset value
- $94.15 issuer, Oct 19, 2026 · closed +0.00% to NAV
- Median bid/ask spread
- 0.04% 30 days, issuer-reported
- 30-day SEC yield
- 0.76% issuer
- Tracking difference
- -0.42 pts vs index, after fees, FY 2026
Cost91
Liquidity100
Scale79
Diversification62
Moves with. US large-cap stocks (41% of its variance, beta 1.68); Small caps over large (12% of its variance, beta 0.65); Long Treasuries (9% of its variance, beta 0.51). These factors explain 63% of its daily moves over the last year.
Stated objective. The State Street SPDR S&P Homebuilders ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the homebuilding segment of a U.S. total market composite index. (from the fund's prospectus)
All 36 holdingsFlow historySimilar fundsOverlap toolAll Homebuilders & Housing ETFs
Fund flows
daily as of Oct 16, 2026issuer datathrough Jun 2026SEC filings- Oct 16, 2026
- +$95M latest day
- Latest 5 trading days
- +$118M
- Latest 21 trading days
- +$218M +15.8% of assets
- Year to date
- +$116M −$70M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 16, 2026 | +$95M |
| Oct 15, 2026 | −$29M |
| Oct 14, 2026 | +$19M |
| Oct 13, 2026 | +$33M |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | +$28M |
| Oct 8, 2026 | −$14M |
| Oct 7, 2026 | −$9.5M |
| Oct 6, 2026 | +$4.9M |
| Oct 5, 2026 | +$67M |
| Oct 2, 2026 | +$15M |
| Oct 1, 2026 | −$4.8M |
| Sep 30, 2026 | +$19M |
| Sep 29, 2026 | −$9.7M |
| Sep 28, 2026 | +$24M |
| Sep 25, 2026 | −$84M |
| Sep 24, 2026 | −$34M |
| Sep 23, 2026 | $0 |
| Sep 22, 2026 | +$30M |
| Sep 21, 2026 | +$34M |
| Sep 18, 2026 | +$34M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- −$91M latest reported month
- Latest 3 months
- −$58M −3.6% of assets
- Latest 12 months
- +$74M +4.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$91M |
| May 2026 | +$58M |
| Apr 2026 | −$26M |
| Mar 2026 | −$160M |
| Feb 2026 | +$51M |
| Jan 2026 | +$3.2M |
| Dec 2025 | −$17M |
| Nov 2025 | +$85M |
| Oct 2025 | −$230M |
| Sep 2025 | +$35M |
| Aug 2025 | +$251M |
| Jul 2025 | +$113M |
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 | |
|---|---|---|---|---|---|
| ITBiShares U.S. Home Construction ETF | 48% | 0.37% | $2.3B | −15.6% | compare |
| NAILDirexion Daily Homebuilders & Supplies Bull 3X ETF | 42% | — | $567M | −57.1% | compare |
| HOMZHoya Capital Housing ETF | 30% | 0.30% | $32M | −9.6% | compare |
| PKBInvesco Building & Construction ETF | 16% | 0.57% | $256M | −8.4% | compare |
| RSPDInvesco S&P 500 Equal Weight Consumer Discretionary ETF | 14% | 0.40% | $388M | −2.9% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 19, 2026issuer data- Holdings vs fair value
- −4.8% 11% under, 47% over · 96% covered
- Price / earnings
- 20.2 7% loss-making · 96% covered
- Price / book · sales
- 2.0 · 1.2 revenue growth +1.1%
- Above 200-day average
- 26% 37% above 50-day · by weight
- Short interest
- 5.9% of float, weighted · 3.9 days to cover
- Insider buying
- 7% of weight had net insider buying, 90 days; 47% net selling
- 13F holders
- +1.4% change in shares held by institutions, latest quarter
- Reporting earnings
- 38.6% of weight in 7 days; 73.1% in 14
Holdings reporting in the next 14 days · weighted implied move this week 3.57%
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Oct 16, 2026 → Oct 19, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Exit | BZHBEAZER HOMES USA INC | 1.45% | — | — |
0 new, 1 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 1.7%. Full holdings and history
Under the hood
fiscal year to Jun 30, 2026SEC census- Authorized participants
- 15 active of 41 with agreements; top 3 did 50%
- Created · redeemed
- $5.6B · $5.2B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 9.57% of assets on loan on average; earned 1.6 bp
- Return vs index
- -0.42 pts after fees; +0.00 before; daily s.d. 0.05
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
35
AUM
$1.4B
Provider
SPDR (State Street)
Inception
2006-01-31
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.35%
Dividend Yield
1.14%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.5358 | CD |
| 2026-06-22 | 2026-06-24 | $0.1599 | CD |
| 2026-03-23 | 2026-03-25 | $0.2179 | CD |
| 2025-12-22 | 2025-12-24 | $0.1799 | CD |
| 2025-09-22 | 2025-09-24 | $0.1575 | CD |
| 2025-06-23 | 2025-06-25 | $0.1513 | CD |
Asset Allocation
Top Holdings
top 35 of 35 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| SN | SHARKNINJA INC | 3.89% | Equity (US) | US |
| W | WAYFAIR INC CLASS A | 3.76% | Equity (US) | US |
| WSM | WILLIAMS SONOMA INC | 3.70% | Equity (US) | US |
| MAS | MASCO CORP | 3.57% | Equity (US) | US |
| TT | TRANE TECHNOLOGIES PLC | 3.45% | Equity (Foreign) | IE |
| ALLE | ALLEGION PLC | 3.43% | Equity (Foreign) | IE |
| SSD | SIMPSON MANUFACTURING CO INC | 3.39% | Equity (US) | US |
| JCI | JOHNSON CONTROLS INTERNATION | 3.39% | Equity (Foreign) | IE |
| HD | HOME DEPOT INC | 3.37% | Equity (US) | US |
| DHI | DR HORTON INC | 3.35% | Equity (US) | US |
| CSL | CARLISLE COS INC | 3.34% | Equity (US) | US |
| TOL | TOLL BROTHERS INC | 3.33% | Equity (US) | US |
| LOW | LOWE S COS INC | 3.30% | Equity (US) | US |
| WMS | ADVANCED DRAINAGE SYSTEMS IN | 3.28% | Equity (US) | US |
| LEN | LENNAR CORP A | 3.23% | Equity (US) | US |
| CARR | CARRIER GLOBAL CORP | 3.22% | Equity (US) | US |
| LII | LENNOX INTERNATIONAL INC | 3.21% | Equity (US) | US |
| NVR | NVR INC | 3.21% | Equity (US) | US |
| CVCO | CAVCO INDUSTRIES INC | 3.20% | Equity (US) | US |
| PHM | PULTEGROUP INC | 3.20% | Equity (US) | US |
| MTH | MERITAGE HOMES CORP | 3.13% | Equity (US) | US |
| SGI | SOMNIGROUP INTERNATIONAL INC | 3.11% | Equity (US) | US |
| SKY | CHAMPION HOMES INC | 3.04% | Equity (US) | US |
| IBP | INSTALLED BUILDING PRODUCTS | 2.98% | Equity (US) | US |
| BLDR | BUILDERS FIRSTSOURCE INC | 2.91% | Equity (US) | US |
| KBH | KB HOME | 2.89% | Equity (US) | US |
| OC | OWENS CORNING | 2.88% | Equity (US) | US |
| MHO | M/I HOMES INC | 2.82% | Equity (US) | US |
| MOD | MODINE MANUFACTURING CO | 2.62% | Equity (US) | US |
| CCS | CENTURY COMMUNITIES INC | 1.66% | Equity (US) | US |
| GRBK | GREEN BRICK PARTNERS INC | 1.49% | Equity (US) | US |
| LGIH | LGI HOMES INC | 1.41% | Equity (US) | US |
| HOV | HOVNANIAN ENTERPRISES A | 0.71% | Equity (US) | US |
| DFH | DREAM FINDERS HOMES INC A | 0.45% | Equity (US) | US |
| — | US DOLLAR | -1.22% | Cash/Money Market | — |
Geographic Breakdown
Non-Equity Breakdown
State Street(R) SPDR(R) S&P(R) Homebuilders ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-28)
Net assets:
$1.63B
· 39 total positions
· equity 99.94%
· non-equity 3.01%
Non-equity holdings
— 4 positions,
3.01% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Short-term investment | 3.01% | $49.1M | 4 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 6.22% | -11.49% | 13.61% | -0.72% | 4.75% | 3.68% | 2.68% |
| Feb | 1.31% | -5.90% | -4.75% | 7.17% | -4.07% | 5.71% | -0.09% |
| Mar | 11.08% | -8.59% | 1.19% | 6.90% | -2.11% | -12.75% | -0.71% |
| Apr | 5.25% | -3.80% | 4.54% | -6.84% | -2.57% | 6.84% | 0.57% |
| May | -2.69% | -0.37% | -2.42% | 3.04% | -0.97% | -2.34% | -0.96% |
| Jun | -2.36% | -11.46% | 14.98% | -2.85% | 5.91% | 11.94% | 2.69% |
| Jul | 1.48% | 13.15% | 5.57% | 19.97% | -0.73% | -8.23% | 5.20% |
| Aug | 3.73% | -7.20% | -2.29% | 2.63% | 9.76% | -3.34% | 0.55% |
| Sep | -8.71% | -8.51% | -9.13% | 9.84% | -1.95% | -4.50% | -3.83% |
| Oct | 7.74% | 2.62% | -5.30% | -8.12% | -5.85% | -1.22%* | -1.69% |
| Nov | 2.29% | 7.21% | 12.37% | 7.23% | 5.23% | -- | 6.87% |
| Dec | 7.05% | -4.35% | 11.94% | -14.72% | -5.18% | -- | -1.05% |
| Total | 35.52% | -34.69% | 43.41% | 20.53% | 0.88% | -6.54% | 9.85% |
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: $95.80
SMA 50: $99.81
SMA 200: $105.53
Current: $95.60
EMA 12: $95.36
EMA 26: $96.62
MACD: -1.2562 | Signal: 0.3139
BEARISH
ADX (14): 20.40
WEAK TREND
+DI: 22.05
−DI: 23.06
Momentum Oscillators
RSI (14): 46.32
NEUTRAL
Stoch %K: 47.47
Stoch %D: 44.64
Williams %R: -48.62
Volume & Volatility
BB Upper: $98.43
BB Lower: $93.18
NEUTRAL
OBV: -66,443,283
Vol SMA 20: 2,024,075
Vol ROC: -35.50%
ATR: $2.20
True Range: $1.93
HV 20: 21.7%
HV 30: 22.3%
HV 60: 25.4%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
XHB (SPDR S&P Homebuilders ETF) - Comprehensive Stock Analysis
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
XHB is experiencing a downtrend with deteriorating momentum and concerning options positioning. The ETF is trading below its 20-day, 50-day, and 200-day moving averages, indicating weakness across all timeframes. However, the weak ADX reading (24.81) suggests the bearish trend lacks strong conviction, creating potential for mean reversion.
Key Drivers:
- Technical breakdown with price ($94.19) below all major moving averages
- Negative news sentiment with recent downgrade signals from Zacks analysts
- Options market showing extreme bearish positioning (8.57x put/call volume ratio)
- Negative homebuilding sector fundamentals (rising inventory, cooling demand)
Primary Risks:
- Continued downside pressure if technical support breaks
- Housing market cyclicality and interest rate sensitivity
- Weak sector sentiment despite positive PKB comparisons
Investment Thesis: XHB is signaling weakness across technical, sentiment, and options metrics, but oversold conditions (RSI 35.25, Bollinger Bands lower band proximity) suggest a potential near-term bounce is possible. The extreme put/call ratio indicates capitulation, which historically precedes reversals. Investors should monitor $92.00-$93.00 support levels before considering positions.
Recent News Sentiment Impact: News sentiment has shifted decisively negative (3 of last 5 headlines negative). The September-October downgrade pattern from Zacks and broader sector headwinds (Texas inventory concerns, Greg Abel acquisition uncertainty) align with the technical breakdown observed in price action.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): BEARISH
- Price ($94.19) trades 2.98% below SMA 20 ($97.09)
- EMA 12 ($96.77) above EMA 26 ($98.54) is bearish — typical of deteriorating momentum
- Stochastic %K (34.11) remains below %D (42.52), confirming downward momentum
Medium-term (1-3 months): BEARISH
- Price significantly below SMA 50 ($102.38) by 7.95%
- Negative MACD histogram (-1.90) with signal line at 0.13 indicates sustained weakness
- Williams %R at -96.23 (extreme reading near lowest levels)
Long-term (3-12 months): BEARISH
- Price 11.14% below SMA 200 ($106.00), the most concerning metric
- Extended decline from 200-day MA suggests structural weakness in homebuilder sentiment
- Alpha of -0.27 indicates underperformance vs. market benchmark over longer period
Support/Resistance Levels
Immediate Support:
- $95.00 (Bollinger Band lower) — First critical support
- $93.50 (recent low support zone) — 2nd line of defense
- $92.00 (psychological level, potential institutional support)
Immediate Resistance:
- $97.09 (SMA 20) — Must reclaim for short-term recovery signal
- $99.19 (Bollinger Band upper) — Technical ceiling for near-term bounce
- $102.38 (SMA 50) — Key resistance; breaking above would signal trend reversal
Longer-term Support:
- $88.00-$90.00 (potential support zone if breakdown accelerates)
Momentum Signals
RSI Interpretation:
- RSI (14) at 35.25 is in neutral territory but close to oversold (<30)
- Reading suggests room to test $92-93 support before capitulation
- Not yet at extreme oversold levels that typically generate bounces, but approaching warning zone
- Signal: Moderate downward momentum with limited further room to fall before technical reversal
MACD Signal:
- MACD (-1.77) trading below signal line (0.13) = BEARISH crossover
- Histogram (-1.90) shows accelerating bearish momentum — negative and widening
- No signs of bullish crossover yet; momentum remains deteriorating
- Signal: Sustained bearish momentum with no imminent reversal signal
Bollinger Bands Position:
- Price ($94.19) trading between middle band ($97.09) and lower band ($95.00)
- Width of 4.31 indicates a squeeze environment — bands are relatively narrow
- Position shows stock is approaching oversold but hasn't touched lower band yet
- Narrow band width historically precedes volatility expansion
- Signal: Potential mean reversion bounce toward $97-99 range, but breakout direction uncertain
Volume Analysis
Volume Trends:
- Volume Rate of Change: -57.07% — Dramatically below 20-day average
- On-Balance Volume (OBV): -68,148,396.80 (negative cumulative) — Sustained selling pressure
- Low volume (-57% below average) suggests lack of institutional participation in selling
- Critical Observation: Bearish breakdown occurring on LOW volume is generally less conviction-driven and more prone to reversal
Institutional Interest Signals:
- The high put/call ratio (8.57) on relatively light volume suggests retail bearish positioning
- Institutional money not aggressively selling (volume decline indicates few large sellers)
- Potential institutional accumulation if bottom forms — low volume breakdown attractive for buyers
- Signal: Weakness lacks conviction; capitulation may be near completion
News & Sentiment Analysis
Recent Headlines Summary
Negative Sentiment (60% of recent headlines):
- Zacks Downgrade Pattern (Sept 1, Sept 8, Oct 5): Systematic downgrade of XHB quality rating
- Texas Housing Slowdown (July 22): "new home sales ease in June as inventory continues to rise" — sector headwind
- Berkshire Hathaway Uncertainty (Aug 15): Greg Abel's $6.8B acquisition ambiguous impact on homebuilder visibility
Positive Sentiment (40% of recent headlines):
- PKB Strength (Sept 21, Oct 5): Invesco Building & Construction ETF rated as "Strong" — suggests sector rotation rather than broad weakness
Sentiment Assessment
Aggregate Sentiment: NEGATIVE (55% negative vs 45% positive)
The news flow shows clear deterioration with:
- Timing Alignment: Zacks downgrades in September preceded the technical breakdown
- Sector-Specific Issues: Not broad market weakness but homebuilder-specific challenges (inventory, sales easing)
- Contradiction Signal: PKB rated positively while XHB rated negatively suggests fund composition/overlap concerns — XHB may be overweight to underperformers
Catalyst Identification
Immediate (1-7 days):
- Housing inventory data and new home sales reports could drive volatility
- Options expiration showing $3.53 expected move (7-DTE)
Near-term (1-4 weeks):
- Mortgage rate trends (inverse correlation to homebuilders)
- Federal Reserve commentary on rate trajectory
- Option expiration at 30 DTE priced in $6.79 move (7.2% from current price)
Medium-term (1-3 months):
- Q3 homebuilder earnings season (typically Oct-Nov)
- Quarterly housing starts and building permits data
- Holiday season homebuying trends
No Specific Catalyst Dates: Earnings data unavailable, suggesting ETF lacks single-name catalyst dependency
Market Narrative Alignment
Bearish Technical ↔ Bearish News = ALIGNED
- Technical breakdown coincides with negative sector sentiment
- Zacks downgrade timing (Sept 1, 8) precedes price decline
- Housing inventory concerns provide fundamental justification for technicals
Conflict Alert: LOW VOLUME BEARISHNESS
- Weakness occurring on 57% below-average volume suggests capitulation incompleteness
- Historically, this pattern precedes relief bounces, creating tactical opportunity
- News may be pricing in worst-case scenario; actual data could surprise positively
Risk & Volatility Assessment
Beta Interpretation
Beta: 1.14 (vs SPY)
Risk Classification: ABOVE-AVERAGE (Amplified Market Mover)
- 1.14 beta means XHB moves 14% MORE than broad market (SPY)
- In down markets: XHB declines ~1.14% for every 1% S&P decline
- In up markets:
Generated
News
All XHB news →
Zacks Investment ResearchT3·17d ago
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Showing 1–10 of 50
Page 1 of 5
XHB Options Activity & IV Rank
XHB IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 31.2%
7-DTE IV: 31.1%
Expected Move: $6.79
7-DTE Move: $3.74
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 442
Put Volume: 246
P/C Volume: 0.557
BULLISH
Call OI: 4,200
Put OI: 6,545
P/C OI: 1.558
Total OI: 10,745
ATM Options Pricing
ATM Call: $3.73
ATM Put: $3.07
Call %: 3.9%
Put %: 3.2%
Chain Summary
Chain Volume: 13,483
Chain OI: 101,845
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 31st 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
31%
vs own history
GEX tilt
-0.21
OI-weighted, today
Vanna tilt
+0.28
δ-sensitivity to IV
Charm tilt
-0.70
δ-decay vs time
Charm tilt -0.70: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 228 ATM contracts, 56k 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
26%
+1.5
pts
EXTREME
as of Oct 21 · ATM 31.3% / Wing 32.9%
30 DTE / 10d
26%
+2.4
pts
EXTREME
as of Oct 21 · ATM 31.2% / Wing 33.5%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)15.4LowOct 21
IV Rank (30 DTE)39.6MediumOct 21
Straddle Price (30 DTE)$6.79Oct 21
Beta Analysis
Risk Metrics
Beta: 1.1646
Alpha: -27.98%
Correlation: 0.5316
R-Squared: 28.3%
Stock Volatility: 27.8%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Above average volatility - stock moves with market amplification
Above average volatility - stock moves with market amplification
Beta & Alpha Over Time
XHB 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.
20 filers$546.05M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | BNP Paribas Financial Markets Custodian | $167.30M | 30.64% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $63.38M | 11.61% | 2026-06-30 |
| 3 | Caption Management, LLC | $47.96M | 8.78% | 2026-06-30 |
| 4 | PEAK6 LLC | $46.22M | 8.47% | 2026-06-30 |
| 5 | Susquehanna International Group, LLP Custodian | $43.98M | 8.05% | 2026-06-30 |
| 6 | NOMURA HOLDINGS INC | $39.52M | 7.24% | 2026-06-30 |
| 7 | Citadel Advisors LLC Custodian | $37.58M | 6.88% | 2026-06-30 |
| 8 | Goldman Sachs Group Inc Custodian | $36.98M | 6.77% | 2026-06-30 |
| 9 | Citigroup Inc. Custodian | $18.14M | 3.32% | 2026-06-30 |
| 10 | Millennium Management LLC Custodian | $15.99M | 2.93% | 2026-06-30 |
| 11 | Walleye Trading LLC | $6.49M | 1.19% | 2026-06-30 |
| 12 | Wells Fargo & Company Custodian | $5.78M | 1.06% | 2026-06-30 |
| 13 | SONA ASSET MANAGEMENT (US) LLC | $5.78M | 1.06% | 2026-06-30 |
| 14 | Marshall Wace, LLP Custodian | $4.65M | 0.85% | 2026-06-30 |
| 15 | UBS Group AG Custodian | $2.32M | 0.42% | 2026-06-30 |
| 16 | TUDOR INVESTMENT CORP ET AL | $1.96M | 0.36% | 2026-06-30 |
| 17 | Jain Global LLC | $1.16M | 0.21% | 2026-06-30 |
| 18 | Squarepoint Ops LLC | $762.70K | 0.14% | 2026-06-30 |
| 19 | OLD MISSION CAPITAL LLC | $83.08K | 0.02% | 2026-06-30 |
| 20 | Parallax Volatility Advisers, L.P. | $11.56K | <0.01% | 2026-06-30 |
20 filers$540.40M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $138.79M | 25.68% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $78.84M | 14.59% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $60.14M | 11.13% | 2026-06-30 |
| 4 | Millennium Management LLC Custodian | $51.77M | 9.58% | 2026-06-30 |
| 5 | BNP Paribas Financial Markets Custodian | $47.38M | 8.77% | 2026-06-30 |
| 6 | NOMURA HOLDINGS INC | $39.29M | 7.27% | 2026-06-30 |
| 7 | Caption Management, LLC | $34.67M | 6.42% | 2026-06-30 |
| 8 | Walleye Trading LLC | $21.27M | 3.94% | 2026-06-30 |
| 9 | Citigroup Inc. Custodian | $11.56M | 2.14% | 2026-06-30 |
| 10 | UBS Group AG Custodian | $11.08M | 2.05% | 2026-06-30 |
| 11 | Allianz Asset Management GmbH | $10.61M | 1.96% | 2026-06-30 |
| 12 | MIRAE ASSET SECURITIES (USA) INC. | $9.60M | 1.78% | 2026-09-30 |
| 13 | Wells Fargo & Company Custodian | $7.80M | 1.44% | 2026-06-30 |
| 14 | Centiva Capital, LP | $5.40M | 1.00% | 2026-06-30 |
| 15 | Hudson Bay Capital Management LP | $5.20M | 0.96% | 2026-06-30 |
| 16 | Marshall Wace, LLP Custodian | $4.65M | 0.86% | 2026-06-30 |
| 17 | SIG BROKERAGE, LP | $1.20M | 0.22% | 2026-06-30 |
| 18 | Parallax Volatility Advisers, L.P. | $843.59K | 0.16% | 2026-06-30 |
| 19 | STG SECURITIES, LLC | $254.23K | 0.05% | 2026-06-30 |
| 20 | LuminArx Capital Management LP | $66.00K | 0.01% | 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
6.23M
SI % of Float
38.81%
Days to Cover
3.57
Short Vol Ratio
63.4%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
XHB Constituent Performance
Click any bar to view the full quote for that stock.
XHB Constituents (34 of 34)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| SN | SHARKNINJA INC | 3.89% | $197.58 | -0.57% | +6.04% | +17.27% |
| W | WAYFAIR INC CLASS A | 3.76% | $113.31 | -0.22% | +8.14% | +13.88% |
| WSM | WILLIAMS SONOMA INC | 3.70% | $253.32 | -0.26% | +4.47% | +11.19% |
| MAS | MASCO CORP | 3.57% | $74.56 | -0.13% | +7.37% | +9.39% |
| TT | TRANE TECHNOLOGIES PLC | 3.45% | $471.42 | +2.17% | +0.03% | +7.85% |
| ALLE | ALLEGION PLC | 3.43% | $159 | +1.25% | +4.26% | +3.19% |
| SSD | SIMPSON MANUFACTURING CO INC | 3.39% | $180.11 | -0.27% | +5.28% | +2.91% |
| JCI | JOHNSON CONTROLS INTERNATION | 3.39% | $151.02 | +2.08% | -0.93% | +3.51% |
| HD | HOME DEPOT INC | 3.37% | $314.14 | -0.31% | +6.30% | +5.87% |
| DHI | DR HORTON INC | 3.35% | $138.98 | -0.85% | +4.00% | -0.85% |
| CSL | CARLISLE COS INC | 3.34% | $340.1 | +0.09% | +4.17% | +4.98% |
| TOL | TOLL BROTHERS INC | 3.33% | $135.05 | -0.33% | +3.56% | -0.16% |
| LOW | LOWE S COS INC | 3.30% | $196.56 | -0.99% | +4.38% | +2.72% |
| WMS | ADVANCED DRAINAGE SYSTEMS IN | 3.28% | $130 | -0.12% | +3.84% | +0.20% |
| LEN | LENNAR CORP A | 3.23% | $77.7 | -1.21% | +5.67% | -4.69% |
| CARR | CARRIER GLOBAL CORP | 3.22% | $56.47 | +0.53% | +4.11% | +2.49% |
| LII | LENNOX INTERNATIONAL INC | 3.21% | $366.37 | +0.71% | +5.03% | -1.60% |
| NVR | NVR INC | 3.21% | $5900 | -1.30% | +2.91% | -5.47% |
| CVCO | CAVCO INDUSTRIES INC | 3.20% | $516.25 | -0.63% | +1.97% | -4.72% |
| PHM | PULTEGROUP INC | 3.20% | $112.89 | -1.43% | +3.24% | -4.90% |
| MTH | MERITAGE HOMES CORP | 3.13% | $59.32 | -1.51% | +2.26% | -7.11% |
| SGI | SOMNIGROUP INTERNATIONAL INC | 3.11% | $62.87 | -1.67% | +1.34% | +0.00% |
| SKY | CHAMPION HOMES INC | 3.04% | $75.73 | -0.83% | -0.22% | -11.39% |
| IBP | INSTALLED BUILDING PRODUCTS | 2.98% | $187.87 | -0.79% | +4.18% | -7.36% |
| BLDR | BUILDERS FIRSTSOURCE INC | 2.91% | $53.51 | -0.76% | +5.92% | -9.55% |
| KBH | KB HOME | 2.89% | $43.01 | -0.81% | +2.58% | -8.78% |
| OC | OWENS CORNING | 2.88% | $112.23 | +0.38% | +0.87% | -8.67% |
| MHO | M/I HOMES INC | 2.82% | $114.04 | -8.08% | -7.64% | -17.22% |
| MOD | MODINE MANUFACTURING CO | 2.62% | $149.78 | +2.09% | -5.05% | -22.44% |
| CCS | CENTURY COMMUNITIES INC | 1.66% | $54.28 | -2.15% | +0.72% | -11.60% |
| GRBK | GREEN BRICK PARTNERS INC | 1.49% | $60.68 | -2.11% | +0.93% | -9.72% |
| LGIH | LGI HOMES INC | 1.41% | $40.01 | -7.17% | -5.53% | -17.67% |
| HOV | HOVNANIAN ENTERPRISES A | 0.71% | $92.2 | -3.13% | -3.59% | -19.99% |
| DFH | DREAM FINDERS HOMES INC A | 0.45% | $9.02 | -5.94% | +21.56% | -22.44% |