Zacks Investment ResearchT3·2d ago
XLI State Street Industrial Select Sector SPDR ETF
ETF 167.75 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.
XLI
$167.75
—
Key stats
$167.75
- 52-Week Range
- $147.13 – $188.19
- YTD
- +6.18%
- IV Rank (30D)
- 62.1
- Straddle Price
- $7.93
- P/C Vol Ratio
- 4.19
- Open
- $168.23
- Day Range
- $167.09 – $169.75
- Volume
- 9,314,529
- Prev Close
- $167.89
About
State Street Industrial Select Sector SPDR ETF (XLI) ETF
No description available.
- Exchange
- ARCX
- Inception
- 1998-12-16
- Has Options
- Yes
- Homepage
- https://www.ssga.com/us/en/individual/etfs
Fund profile
holdings as of Oct 14, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.08% issuer, Oct 16, 2026
- Assets
- $30.4B issuer-reported, Oct 14, 2026
- Trailing yield
- 1.12% paid quarterly
- Average daily volume
- $1.2B 30 sessions
- Holdings
- 86 top 10 are 38.9%
- Listed
- Dec 16, 1998 NYSE Arca
- Last fee change
- -1 bp filed Jan 24, 2025
- Net asset value
- $167.03 issuer, Oct 14, 2026 · closed +0.02% to NAV
- Median bid/ask spread
- 0.01% 30 days, issuer-reported
- 30-day SEC yield
- 1.10% issuer
- Tracking difference
- -0.09 pts vs index, after fees, FY 2025
Cost97
Liquidity100
Scale100
Diversification70
Moves with. US large-cap stocks (62% of its variance, beta 1.18); Small caps over large (11% of its variance, beta 0.37); Emerging markets over US (3% of its variance, beta 0.09). These factors explain 65% of its daily moves over the last year.
Stated objective. State Street Industrial Select Sector SPDR ETF (the Fund) seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in the Industrial Select Sector Index (the Index). (from the fund's prospectus)
All 86 holdingsFlow historySimilar fundsOverlap toolAll Industrials ETFs
Fund flows
daily as of Oct 13, 2026issuer datathrough Jun 2026SEC filings- Oct 13, 2026
- +$59M latest day
- Latest 5 trading days
- −$252M
- Latest 21 trading days
- +$166M +0.6% of assets
- Year to date
- +$3.0B +$4.7B over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 13, 2026 | +$59M |
| Oct 12, 2026 | +$8.5M |
| Oct 9, 2026 | −$102M |
| Oct 8, 2026 | −$227M |
| Oct 7, 2026 | +$8.4M |
| Oct 6, 2026 | +$292M |
| Oct 5, 2026 | +$332M |
| Oct 2, 2026 | +$204M |
| Oct 1, 2026 | +$25M |
| Sep 30, 2026 | −$33M |
| Sep 29, 2026 | −$25M |
| Sep 28, 2026 | +$68M |
| Sep 25, 2026 | −$136M |
| Sep 24, 2026 | +$144M |
| Sep 23, 2026 | −$60M |
| Sep 22, 2026 | −$8.5M |
| Sep 21, 2026 | −$204M |
| Sep 18, 2026 | −$93M |
| Sep 17, 2026 | +$17M |
| Sep 16, 2026 | +$110M |
| Sep 15, 2026 | −$211M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$1.6B latest reported month
- Latest 3 months
- +$1.5B +4.4% of assets
- Latest 12 months
- +$5.6B +16.6% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$1.6B |
| May 2026 | +$377M |
| Apr 2026 | −$459M |
| Mar 2026 | −$637M |
| Feb 2026 | +$1.6B |
| Jan 2026 | +$698M |
| Dec 2025 | +$1.1B |
| Nov 2025 | +$148M |
| Oct 2025 | +$340M |
| Sep 2025 | +$205M |
| Aug 2025 | +$214M |
| Jul 2025 | +$463M |
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 | |
|---|---|---|---|---|---|
| TRUIVanEck Industrials TruSector ETF | 92% | 0.10% | $265K | — | compare |
| FIDUFidelity MSCI Industrials Index ETF | 79% | 0.08% | $2.4B | +8.4% | compare |
| VISVanguard Industrials ETF | 79% | 0.09% | $8.0B | +8.3% | compare |
| DUSLDirexion Daily Industrials Bull 3X ETF | 73% | — | $41M | +1.2% | compare |
| UXIProShares Ultra Industrials | 67% | 0.95% | $26M | +11.9% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 14, 2026issuer data- Holdings vs fair value
- +4.7% 30% under, 22% over · 100% covered
- Price / earnings
- 27.1 0% loss-making · 99% covered
- Price / book · sales
- 6.6 · 2.9 revenue growth +10.1%
- Above 200-day average
- 41% 20% above 50-day · by weight
- Short interest
- 2.7% of float, weighted · 3.5 days to cover
- Insider buying
- 6% of weight had net insider buying, 90 days; 44% net selling
- 13F holders
- +1.5% change in shares held by institutions, latest quarter
- Reporting earnings
- 31.4% of weight in 7 days; 67.4% in 14
Holdings reporting in the next 14 days · weighted implied move this week 1.60%
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
Mar 31, 2026 → Jun 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Decrease | HONHoneywell International Inc | 2.84% | 1.23% | −50.0% |
| New position | HONAHoneywell Aerospace Inc | — | 1.22% | — |
| New position | FDXFFedex Freight Holding Co Inc | — | 0.28% | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 1.1%. Full holdings and history
Under the hood
fiscal year to Sep 30, 2025SEC census- Authorized participants
- 23 active of 45 with agreements; top 3 did 55%
- Created · redeemed
- $27.5B · $25.7B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 1.24% of assets on loan on average; earned 0.2 bp
- Return vs index
- -0.09 pts after fees; +0.01 before; daily s.d. 0.05
- Diversification status
- Non-diversified may concentrate in fewer issuers
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 2026-10-14
Holdings
86
AUM
$30.4B
Provider
SPDR (State Street)
Inception
1998-12-16
Exchange
ARCX
Data As Of
2026-10-14
Expense Ratio
0.08%
Dividend Yield
1.12%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.4550 | CD |
| 2026-06-22 | 2026-06-24 | $0.4441 | CD |
| 2026-03-23 | 2026-03-25 | $0.4532 | CD |
| 2025-12-22 | 2025-12-24 | $0.5316 | CD |
| 2025-09-22 | 2025-09-24 | $0.6298 | CD |
| 2025-06-23 | 2025-06-25 | $0.4317 | CD |
Asset Allocation
Top Holdings
top 50 of 86 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| CAT | CATERPILLAR INC | 6.48% | Equity (US) | US |
| GE | GENERAL ELECTRIC | 5.99% | Equity (US) | US |
| RTX | RTX CORP | 4.73% | Equity (US) | US |
| GEV | GE VERNOVA INC | 4.72% | Equity (US) | US |
| UNP | UNION PACIFIC CORP | 3.20% | Equity (US) | US |
| DE | DEERE + CO | 3.07% | Equity (US) | US |
| ETN | EATON CORP PLC | 2.99% | Equity (Foreign) | IE |
| BA | BOEING CO/THE | 2.75% | Equity (US) | US |
| UBER | UBER TECHNOLOGIES INC | 2.66% | Equity (US) | US |
| PH | PARKER HANNIFIN CORP | 2.27% | Equity (US) | US |
| ADP | AUTOMATIC DATA PROCESSING | 2.10% | Equity (US) | US |
| LMT | LOCKHEED MARTIN CORP | 2.00% | Equity (US) | US |
| TT | TRANE TECHNOLOGIES PLC | 1.95% | Equity (Foreign) | IE |
| PWR | QUANTA SERVICES INC | 1.87% | Equity (US) | US |
| JCI | JOHNSON CONTROLS INTERNATION | 1.74% | Equity (Foreign) | IE |
| EMR | EMERSON ELECTRIC CO | 1.69% | Equity (US) | US |
| CSX | CSX CORP | 1.68% | Equity (US) | US |
| HWM | HOWMET AEROSPACE INC | 1.63% | Equity (US) | US |
| VRT | VERTIV HOLDINGS CO A | 1.61% | Equity (US) | US |
| GD | GENERAL DYNAMICS CORP | 1.60% | Equity (US) | US |
| MMM | 3M CO | 1.60% | Equity (US) | US |
| WM | WASTE MANAGEMENT INC | 1.51% | Equity (US) | US |
| NSC | NORFOLK SOUTHERN CORP | 1.37% | Equity (US) | US |
| CMI | CUMMINS INC | 1.36% | Equity (US) | US |
| CTAS | CINTAS CORP | 1.35% | Equity (US) | US |
| UPS | UNITED PARCEL SERVICE CL B | 1.35% | Equity (US) | US |
| BE | BLOOM ENERGY CORP A | 1.33% | Equity (US) | US |
| ITW | ILLINOIS TOOL WORKS | 1.31% | Equity (US) | US |
| NOC | NORTHROP GRUMMAN CORP | 1.25% | Equity (US) | US |
| HON | HONEYWELL INTERNATIONAL INC | 1.24% | Equity (US) | US |
| URI | UNITED RENTALS INC | 1.21% | Equity (US) | US |
| FDX | FEDEX CORP | 1.21% | Equity (US) | US |
| TDG | TRANSDIGM GROUP INC | 1.15% | Equity (US) | US |
| FAST | FASTENAL CO | 1.12% | Equity (US) | US |
| GWW | WW GRAINGER INC | 1.08% | Equity (US) | US |
| PCAR | PACCAR INC | 1.07% | Equity (US) | US |
| AME | AMETEK INC | 1.06% | Equity (US) | US |
| FIX | COMFORT SYSTEMS USA INC | 1.02% | Equity (US) | US |
| HONA | HONEYWELL AEROSPACE INC | 0.93% | Equity (US) | US |
| WAB | WABTEC CORP | 0.91% | Equity (US) | US |
| ROK | ROCKWELL AUTOMATION INC | 0.89% | Equity (US) | US |
| DAL | DELTA AIR LINES INC | 0.86% | Equity (US) | US |
| CARR | CARRIER GLOBAL CORP | 0.84% | Equity (US) | US |
| LHX | L3HARRIS TECHNOLOGIES INC | 0.83% | Equity (US) | US |
| RSG | REPUBLIC SERVICES INC | 0.83% | Equity (US) | US |
| FERG | FERGUSON ENTERPRISES INC | 0.81% | Equity (US) | US |
| PAYX | PAYCHEX INC | 0.65% | Equity (US) | US |
| ODFL | OLD DOMINION FREIGHT LINE | 0.65% | Equity (US) | US |
| AXON | AXON ENTERPRISE INC | 0.62% | Equity (US) | US |
| EME | EMCOR GROUP INC | 0.62% | Equity (US) | US |
Geographic Breakdown
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -1.90% | -4.00% | 3.49% | 0.04% | 5.37% | 4.72% | 1.29% |
| Feb | 5.79% | -2.19% | -1.58% | 5.39% | -0.47% | 5.74% | 2.11% |
| Mar | 5.94% | 4.65% | -0.19% | 3.65% | -2.47% | -9.60% | 0.33% |
| Apr | 3.19% | -6.89% | -1.34% | -2.78% | -0.45% | 6.17% | -0.35% |
| May | 2.08% | -0.67% | -3.67% | 1.89% | 8.03% | 0.10% | 1.29% |
| Jun | -2.97% | -7.20% | 9.41% | -0.11% | 3.42% | 7.44% | 1.67% |
| Jul | 0.22% | 8.56% | 2.87% | 6.06% | 2.70% | -2.03% | 3.06% |
| Aug | 1.81% | -2.94% | -2.28% | 4.76% | 1.52% | -4.38% | -0.25% |
| Sep | -6.02% | -10.98% | -6.82% | 5.36% | 2.44% | -3.33% | -3.23% |
| Oct | 5.35% | 10.56% | -2.02% | -1.24% | 0.82% | -0.52%* | 2.16% |
| Nov | -3.83% | 7.91% | 8.48% | 7.45% | -0.46% | -- | 3.91% |
| Dec | 6.48% | -3.48% | 4.83% | -7.82% | 2.43% | -- | 0.49% |
| Total | 16.25% | -8.91% | 10.33% | 23.82% | 24.90% | 2.97% | 11.56% |
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: $169.04
SMA 50: $174.12
SMA 200: $172.97
Current: $167.76
EMA 12: $168.61
EMA 26: $170.05
MACD: -1.4429 | Signal: 0.1817
BEARISH
ADX (14): 27.97
TREND
+DI: 19.13
−DI: 30.08
Momentum Oscillators
RSI (14): 41.30
NEUTRAL
Stoch %K: 34.24
Stoch %D: 34.94
Williams %R: -59.64
Volume & Volatility
BB Upper: $171.38
BB Lower: $166.70
NEUTRAL
OBV: 52,261,444
Vol SMA 20: 7,467,046
Vol ROC: 52.28%
ATR: $2.48
True Range: $2.66
HV 20: 13.1%
HV 30: 13.0%
HV 60: 14.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-18T00:00:00 – 2026-10-16T00:00:00
AI Analysis
XLI (Industrials ETF) - Comprehensive Stock Analysis Report
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
XLI is exhibiting conflicting signals with technical weakness dominating despite moderately bullish options sentiment. The ETF is trading below both its 20-day ($170.62) and 50-day ($177.28) moving averages, with a confirmed bearish MACD divergence (-2.61 histogram) and strong downward momentum indicators. The primary risk is continuation of downside pressure, while the key driver favoring stabilization is the relatively low beta (0.93) providing defensive characteristics.
Investment Thesis: XLI is in a corrective phase within a deteriorating short-term trend, trading near oversold conditions (RSI 32.35, Stochastic %K 16.80). While the industrial sector sentiment survey showed positivity in Q2, recent market commentary (Sep 10, 2026) has turned negative, creating headwinds for this cyclical-sensitive sector exposure. The current risk/reward setup favors sideways consolidation or further downside before stabilization.
Recent News Sentiment Impact: Mixed to negative. Recent news (Sep 10) carries negative sentiment aligned with current price weakness, supporting the technical breakdown. Older positive catalysts (July-June) appear to have lost momentum, suggesting sentiment has shifted.
Technical Analysis
Trend Direction
| Timeframe | Direction | Confidence | Key Observation | |-----------|-----------|-----------|-----------------| | Short-term (1-4 weeks) | BEARISH | High | Price below SMA 20 and SMA 50; below EMA 12 and EMA 26 | | Medium-term (1-3 months) | BEARISH | Medium | Price declining toward SMA 200 ($172.22); multiple MAs compressed | | Long-term (3-12 months) | NEUTRAL | Medium | Price still above SMA 200 ($172.22); potential support zone |
Trend Analysis Detail:
- Current price ($166.98) is $3.64 below the SMA 20 and $10.30 below the SMA 50, indicating breakdown from short-term uptrend
- EMA 12 ($169.67) is below EMA 26 ($172.16), generating a bearish EMA crossover signal
- Distance between price and SMA 200 narrowing ($166.98 vs $172.22 = $5.24), suggesting potential test of longer-term support
Support/Resistance Levels
| Level | Type | Distance | Significance | |-------|------|----------|---| | $174.96 | Resistance (Upper BB) | +$8.00 (+4.8%) | Primary technical ceiling; represents mean reversion target | | $170.62 | Resistance (SMA 20) | +$3.64 (+2.2%) | Immediate resistance; near-term trend reversal threshold | | $172.22 | Support (SMA 200) | +$5.24 (+3.1%) | Long-term support; psychological round number | | $166.28 | Support (Lower BB) | -$0.70 (-0.4%) | CRITICAL: Bollinger Band floor; major support NOW BEING TESTED | | $160.00 | Support (Technical) | -$6.98 (-4.2%) | Round number psychological support if breakdown continues |
Critical Assessment: The ETF is trading within 0.70 points of its lower Bollinger Band ($166.28), suggesting potential capitulation or mean-reversion setup. This is a critical juncture—either a bounce occurs from current levels, or breakdown to $160 is likely.
Momentum Signals
RSI (14): 32.35 — Neutral/Approaching Oversold
- Reading at 32.35 is technically neutral but approaching oversold threshold (<30)
- NOT yet oversold, but approaching territory where reversal bounces typically occur
- Suggests momentum has declined significantly but washout may not be complete
- Confidence in oversold bounce: Medium (requires break below 30 for confirmation)
MACD: -2.49 (Line) / 0.12 (Signal) / -2.61 (Histogram) — Bearish Divergence
- MACD line (-2.49) remains significantly below signal line (0.12), confirming bearish momentum
- Histogram at -2.61 shows widening negative divergence, not converging
- No bullish crossover signal present; momentum remains decidedly negative
- This is the most reliable bearish indicator in current dataset
Stochastic Oscillators: %K 16.80 / %D 23.00 — Severely Oversold
- %K at 16.80 is deeply oversold (threshold <20), indicating potential capitulation
- %D at 23.00 also in oversold zone but higher than %K, suggesting potential bottoming
- Cross above %D could generate bullish bounce signal if it occurs in coming sessions
- Mean-reversion potential here is HIGH if confirmed
Williams %R: -99.16 — Extreme Oversold
- -99.16 is essentially at maximum extremes, indicating most negative momentum reading possible
- This extreme reading suggests potential capitulation and bounce likelihood
- However, can remain at extreme levels during strong downtrends; not a reliable reversal signal alone
Bollinger Bands: Width 5.09 — Neutral, No Squeeze
- Band width of 5.09 is moderate, indicating neither squeeze (high volatility risk) nor expansion
- Price position at lower band suggests potential mean-reversion toward middle band ($170.62)
- No imminent breakout signal, but mean-reversion bounce is plausible
Summary - Momentum: Conflicting signals. While extreme oscillators (%K, Williams %R) suggest oversold bounce potential, the MACD bearish divergence is the most reliable indicator and shows NO sign of reversal. This suggests any bounce would likely be short-term tactical relief, not trend reversal.
Volume Analysis
Volume Metrics:
- Current volume vs SMA 20: No current volume data provided (data quality flag)
- Volume Rate of Change: -15.89% — Volume is declining relative to recent average
- On-Balance Volume: 57,698,726.43 (absolute level only; trend unclear without historical context)
Interpretation:
- Declining volume (-15.89% RoC) during downtrend is a NEGATIVE signal—suggests selling pressure may be easing but without volume confirmation
- Lack of volume surge on decline suggests institutional capitulation selling has not yet occurred
- This is concerning: Orderly decline on low volume often precedes larger institutional sell-offs
- Data Quality Flag: Without volume histogram or recent high/low volume levels, difficulty assessing if current volume represents accumulation or distribution
Institutional Interest Signal:
- Low volume rate of change suggests retail/algorithmic trading dominating current price action
- Institutional investors may be waiting for more clarity before establishing positions
News & Sentiment Analysis
Recent Headlines Summary (Last 10 Articles)
| Date | Source | Headline Theme | Sentiment | Relevance | |------|--------|---|---|---| | Sep 10, 2026 | Zacks | General Stock Market News | NEGATIVE | HIGH — Aligned with current price weakness | | Sep 1, 2026 | Zacks | ETF Quality Assessment (RSPN) | NEUTRAL | MEDIUM — Sector-adjacent, no directional signal | | Jul 16, 2026 | GlobeNewswire | Buy-Side Industrial Sentiment Q2'26 | POSITIVE | DATED — 2 months old; sentiment has shifted | | Jul 6, 2026 | Investing.com | S&P 500 Rally Extension Thesis | POSITIVE | DATED — General market commentary, not sector-specific | | Jun 4, 2026 | Benzinga | Inflation Cycle Commentary | POSITIVE | OUTDATED — Macroeconomic commentary lacking current relevance | | Apr 21, 2026 | Motley Fool | High-Yield Dividend Stock | NEUTRAL | LOW RELEVANCE — Individual stock, not sector |
Sentiment Assessment
Aggregate News Sentiment: NEGATIVE (Recent) / POSITIVE (Historical)
Critical Finding: There is a **dramatic sentiment deterioration between
Generated
News
All XLI news →
Zacks Investment ResearchT3·8d ago
Zacks Investment ResearchT3·8d ago
Zacks Investment ResearchT3·14d ago
Zacks Investment ResearchT3·1mo ago
Zacks Investment ResearchT3·1mo ago
GlobeNewswire Inc.T3·3mo ago
Investing.comT3·3mo ago
BenzingaT3·4mo ago
The Motley FoolT3·5mo ago
Showing 1–10 of 50
Page 1 of 5
XLI Options Activity & IV Rank
XLI IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 21.1%
7-DTE IV: 20.8%
Expected Move: $7.93
7-DTE Move: $4.12
Days to Exp: 28 (2026-11-13)
Options Flow
Call Volume: 115
Put Volume: 482
P/C Volume: 4.191
BEARISH
Call OI: 294
Put OI: 564
P/C OI: 1.918
Total OI: 858
ATM Options Pricing
ATM Call: $4.18
ATM Put: $3.75
Call %: 2.5%
Put %: 2.2%
Chain Summary
Chain Volume: 51,309
Chain OI: 577,496
Last Updated: 10/16/2026
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
LOW γ vs HISTORY
Estimated net dealer gamma is at the 7th percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
7%
vs own history
GEX tilt
-0.50
OI-weighted, today
Vanna tilt
+0.59
δ-sensitivity to IV
Charm tilt
-0.50
δ-decay vs time
Vanna tilt +0.59: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.50: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 371 ATM contracts, 360k 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
57%
+5.3
pts
EXTREME
ATM 22.9% / Wing 28.1%
30 DTE / 10d
—
—
pts
EXTREME
ATM 21.3% / 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
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)43.6MediumOct 16
IV Rank (30 DTE)62.1MediumOct 16
Straddle Price (30 DTE)$7.93Oct 16
Beta Analysis
Risk Metrics
Beta: 0.9376
Alpha: -2.72%
Correlation: 0.6959
R-Squared: 48.4%
Stock Volatility: 17.2%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Moderate volatility - stock generally follows market
Beta & Alpha Over Time
XLI 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.
32 filers$1.67B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $285.57M | 17.11% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $209.07M | 12.53% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $188.79M | 11.31% | 2026-06-30 |
| 4 | Citigroup Inc. Custodian | $139.85M | 8.38% | 2026-06-30 |
| 5 | Wolverine Trading, LLC Custodian | $105.30M | 6.31% | 2025-09-30 |
| 6 | Schonfeld Strategic Advisors LLC | $92.61M | 5.55% | 2026-06-30 |
| 7 | Barclays PLC Custodian | $83.35M | 4.99% | 2026-06-30 |
| 8 | BNP Paribas Financial Markets Custodian | $74.09M | 4.44% | 2026-06-30 |
| 9 | PEAK6 LLC | $69.28M | 4.15% | 2026-06-30 |
| 10 | TUDOR INVESTMENT CORP ET AL | $66.68M | 4.00% | 2026-06-30 |
| 11 | UBS Group AG Custodian | $60.24M | 3.61% | 2026-06-30 |
| 12 | Cubist Systematic Strategies, LLC | $44.96M | 2.69% | 2025-09-30 |
| 13 | Walleye Trading LLC | $39.14M | 2.35% | 2026-06-30 |
| 14 | Millennium Management LLC Custodian | $37.49M | 2.25% | 2026-06-30 |
| 15 | Royal Bank of Canada Custodian | $27.79M | 1.66% | 2026-06-30 |
| 16 | Cavalier Investments, LLC | $27.78M | 1.66% | 2026-06-30 |
| 17 | Balyasny Asset Management L.P. | $22.25M | 1.33% | 2026-06-30 |
| 18 | Rokos Capital Management LLP | $18.52M | 1.11% | 2026-06-30 |
| 19 | Wells Fargo & Company Custodian | $18.34M | 1.10% | 2026-06-30 |
| 20 | Point72 Asset Management, L.P. | $14.80M | 0.89% | 2026-06-30 |
| 21 | Parallax Volatility Advisers, L.P. | $10.69M | 0.64% | 2026-06-30 |
| 22 | Squarepoint Ops LLC | $8.89M | 0.53% | 2026-06-30 |
| 23 | SIG BROKERAGE, LP | $7.41M | 0.44% | 2026-06-30 |
| 24 | Galaxy Group Investments LLC | $4.70M | 0.28% | 2025-12-31 |
| 25 | CAPITAL FUND MANAGEMENT S.A. | $4.48M | 0.27% | 2026-06-30 |
33 filers$5.28B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $1.06B | 20.06% | 2026-06-30 |
| 2 | Elliott Investment Management L.P. | $958.57M | 18.17% | 2026-06-30 |
| 3 | Jane Street Group, LLC Custodian | $747.53M | 14.17% | 2026-06-30 |
| 4 | Gates Capital Management, Inc. | $370.46M | 7.02% | 2026-06-30 |
| 5 | Susquehanna International Group, LLP Custodian | $364.03M | 6.90% | 2026-06-30 |
| 6 | Millennium Management LLC Custodian | $348.57M | 6.61% | 2026-06-30 |
| 7 | SCOPUS ASSET MANAGEMENT, L.P. | $194.49M | 3.69% | 2026-06-30 |
| 8 | Parallax Volatility Advisers, L.P. | $192.84M | 3.66% | 2026-06-30 |
| 9 | NOMURA HOLDINGS INC | $185.23M | 3.51% | 2026-06-30 |
| 10 | Goldman Sachs Group Inc Custodian | $116.69M | 2.21% | 2026-06-30 |
| 11 | Barclays PLC Custodian | $111.14M | 2.11% | 2026-06-30 |
| 12 | Wolverine Trading, LLC Custodian | $102.76M | 1.95% | 2025-09-30 |
| 13 | Walleye Trading LLC | $74.72M | 1.42% | 2026-06-30 |
| 14 | MIRAE ASSET SECURITIES (USA) INC. | $64.83M | 1.23% | 2026-06-30 |
| 15 | Cubist Systematic Strategies, LLC | $57.65M | 1.09% | 2025-09-30 |
| 16 | UBS Group AG Custodian | $56.07M | 1.06% | 2026-06-30 |
| 17 | Citigroup Inc. Custodian | $50.75M | 0.96% | 2026-06-30 |
| 18 | Balyasny Asset Management L.P. | $47.33M | 0.90% | 2026-06-30 |
| 19 | BOOTHBAY FUND MANAGEMENT, LLC | $45.64M | 0.87% | 2026-06-30 |
| 20 | Allianz Asset Management GmbH | $42.73M | 0.81% | 2026-06-30 |
| 21 | Point72 Asset Management, L.P. | $19.52M | 0.37% | 2026-06-30 |
| 22 | Rokos Capital Management LLP | $18.52M | 0.35% | 2026-06-30 |
| 23 | TUDOR INVESTMENT CORP ET AL | $15.36M | 0.29% | 2026-06-30 |
| 24 | Squarepoint Ops LLC | $14.61M | 0.28% | 2026-06-30 |
| 25 | PEAK6 LLC | $6.22M | 0.12% | 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
24.42M
SI % of Float
13.39%
Days to Cover
3.16
Short Vol Ratio
43.3%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-16
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|