The Motley FoolT3·4h ago
XLK State Street Technology Select Sector SPDR ETF
ETF 170.14 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.
XLK
$170.14
—
Key stats
$170.14
- 52-Week Range
- $126.68 – $203.25
- YTD
- +17.91%
- IV Rank (30D)
- 61.58
- Straddle Price
- $11.93
- P/C Vol Ratio
- 1.06
- Open
- $173.58
- Day Range
- $167.53 – $173.65
- Volume
- 7,525,971
- Prev Close
- $173.77
About
State Street Technology Select Sector SPDR ETF (XLK) 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 Nov 11, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.08% issuer, Nov 13, 2026
- Assets
- $116.5B issuer-reported, Nov 11, 2026
- Trailing yield
- 0.48% paid quarterly
- Average daily volume
- $2.0B 30 sessions
- Holdings
- 79 top 10 are 64.5%
- Listed
- Dec 16, 1998 NYSE Arca
- Last fee change
- -1 bp filed Jan 24, 2025
- Net asset value
- $174.33 issuer, Nov 11, 2026 · closed +0.03% to NAV
- Median bid/ask spread
- 0.01% 30 days, issuer-reported
- 30-day SEC yield
- 0.47% issuer
- Tracking difference
- -0.11 pts vs index, after fees, FY 2025
Cost97
Liquidity100
Scale100
Diversification35
Moves with. US large-cap stocks (45% of its variance, beta 1.11); Value over growth (31% of its variance, beta -0.64); Emerging markets over US (12% of its variance, beta 0.34). These factors explain 89% of its daily moves over the last year.
Stated objective. State Street Technology 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 Technology Select Sector Index (the Index). (from the fund's prospectus)
All 79 holdingsFlow historySimilar fundsOverlap toolAll Technology ETFs
Fund flows
daily as of Nov 10, 2026issuer datathrough Jun 2026SEC filings- Nov 10, 2026
- −$135M latest day
- Latest 5 trading days
- +$772M
- Latest 21 trading days
- +$1.5B +1.3% of assets
- Year to date
- +$4.0B +$3.9B over 12 months
Each day
| Day | Net flow |
|---|---|
| Nov 10, 2026 | −$135M |
| Nov 9, 2026 | +$649M |
| Nov 6, 2026 | +$148M |
| Nov 5, 2026 | +$154M |
| Nov 4, 2026 | −$44M |
| Nov 3, 2026 | +$485M |
| Nov 2, 2026 | −$139M |
| Oct 30, 2026 | +$45M |
| Oct 29, 2026 | +$151M |
| Oct 28, 2026 | +$57M |
| Oct 27, 2026 | +$57M |
| Oct 26, 2026 | −$121M |
| Oct 23, 2026 | +$192M |
| Oct 22, 2026 | +$55M |
| Oct 21, 2026 | −$189M |
| Oct 20, 2026 | +$473M |
| Oct 19, 2026 | −$139M |
| Oct 16, 2026 | −$266M |
| Oct 15, 2026 | −$47M |
| Oct 14, 2026 | +$57M |
| Oct 13, 2026 | +$69M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- −$510M latest reported month
- Latest 3 months
- +$2.3B +1.9% of assets
- Latest 12 months
- +$2.5B +2.0% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | −$510M |
| May 2026 | +$633M |
| Apr 2026 | +$2.2B |
| Mar 2026 | +$199M |
| Feb 2026 | −$753M |
| Jan 2026 | −$799M |
| Dec 2025 | −$1.6B |
| Nov 2025 | +$1.0B |
| Oct 2025 | +$829M |
| Sep 2025 | −$33M |
| Aug 2025 | +$296M |
| Jul 2025 | +$937M |
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 | |
|---|---|---|---|---|---|
| FTECFidelity MSCI Information Technology Index ETF | 84% | 0.08% | $20.3B | +17.1% | compare |
| VGTVanguard Information Technology ETF | 84% | 0.09% | $140.3B | +17.0% | compare |
| GXPTGlobal X PureCap MSCI Information Technology ETF | 83% | 0.15% | $139M | +12.6% | compare |
| IYWiShares U.S. Technology ETF | 81% | 0.37% | $23.5B | +15.7% | compare |
| IXNiShares Global Tech ETF | 77% | 0.37% | $8.2B | +21.3% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Nov 11, 2026issuer data- Holdings vs fair value
- +0.9% 37% under, 50% over · 100% covered
- Price / earnings
- 30.3 2% loss-making · 100% covered
- Price / book · sales
- 10.4 · 7.9 revenue growth +20.7%
- Above 200-day average
- 59% 51% above 50-day · by weight
- Short interest
- 2.0% of float, weighted · 2.9 days to cover
- Insider buying
- 4% of weight had net insider buying, 90 days; 87% net selling
- 13F holders
- +3.4% change in shares held by institutions, latest quarter
- Reporting earnings
- 16.0% of weight in 7 days; 19.2% in 14
Holdings reporting in the next 14 days · weighted implied move this week 1.57%
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
Nov 3, 2026 → Nov 4, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Increase | ORCLORACLE CORP | 1.37% | 1.52% | +13.6% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 1.3%. Full holdings and history
Under the hood
fiscal year to Sep 30, 2025SEC census- Authorized participants
- 18 active of 45 with agreements; top 3 did 60%
- Created · redeemed
- $24.1B · $21.7B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.57% of assets on loan on average; earned 0.1 bp
- Return vs index
- -0.11 pts after fees; +0.00 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 2026-11-11
Holdings
79
AUM
$116.5B
Provider
SPDR (State Street)
Inception
1998-12-16
Exchange
ARCX
Data As Of
2026-11-11
Expense Ratio
0.08%
Dividend Yield
0.48%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.2207 | CD |
| 2026-06-22 | 2026-06-24 | $0.2279 | CD |
| 2026-03-23 | 2026-03-25 | $0.1675 | CD |
| 2025-12-22 | 2025-12-24 | $0.2188 | CD |
| 2025-09-22 | 2025-09-24 | $0.3579 | CD |
| 2025-06-23 | 2025-06-25 | $0.3975 | CD |
Asset Allocation
Top Holdings
top 50 of 79 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| AAPL | APPLE INC | 16.22% | Equity (US) | US |
| NVDA | NVIDIA CORP | 13.15% | Equity (US) | US |
| MSFT | MICROSOFT CORP | 12.10% | Equity (US) | US |
| AVGO | BROADCOM INC | 5.14% | Equity (US) | US |
| AMD | ADVANCED MICRO DEVICES | 5.11% | Equity (US) | US |
| MU | MICRON TECHNOLOGY INC | 3.80% | Equity (US) | US |
| CSCO | CISCO SYSTEMS INC | 2.51% | Equity (US) | US |
| PLTR | PALANTIR TECHNOLOGIES INC A | 2.51% | Equity (US) | US |
| AMAT | APPLIED MATERIALS INC | 1.99% | Equity (US) | US |
| INTC | INTEL CORP | 1.97% | Equity (US) | US |
| LRCX | LAM RESEARCH CORP | 1.87% | Equity (US) | US |
| TXN | TEXAS INSTRUMENTS INC | 1.79% | Equity (US) | US |
| PANW | PALO ALTO NETWORKS INC | 1.73% | Equity (US) | US |
| ORCL | ORACLE CORP | 1.60% | Equity (US) | US |
| IBM | INTL BUSINESS MACHINES CORP | 1.48% | Equity (US) | US |
| CRWD | CROWDSTRIKE HOLDINGS INC A | 1.48% | Equity (US) | US |
| KLAC | KLA CORP | 1.33% | Equity (US) | US |
| ANET | ARISTA NETWORKS INC | 1.30% | Equity (US) | US |
| ADI | ANALOG DEVICES INC | 1.26% | Equity (US) | US |
| APH | AMPHENOL CORP CL A | 1.24% | Equity (US) | US |
| QCOM | QUALCOMM INC | 1.19% | Equity (US) | US |
| CRM | SALESFORCE INC | 1.13% | Equity (US) | US |
| ACN | ACCENTURE PLC CL A | 0.98% | Equity (Foreign) | IE |
| MRVL | MARVELL TECHNOLOGY INC | 0.94% | Equity (US) | US |
| SNDK | SANDISK CORP | 0.90% | Equity (US) | US |
| STX | SEAGATE TECHNOLOGY HOLDINGS | 0.79% | Equity (Foreign) | IE |
| WDC | WESTERN DIGITAL CORP | 0.72% | Equity (US) | US |
| DELL | DELL TECHNOLOGIES C | 0.72% | Equity (US) | US |
| NOW | SERVICENOW INC | 0.67% | Equity (US) | US |
| GLW | CORNING INC | 0.60% | Equity (US) | US |
| ADBE | ADOBE INC | 0.60% | Equity (US) | US |
| INTU | INTUIT INC | 0.59% | Equity (US) | US |
| CDNS | CADENCE DESIGN SYS INC | 0.57% | Equity (US) | US |
| MSI | MOTOROLA SOLUTIONS INC | 0.56% | Equity (US) | US |
| SNPS | SYNOPSYS INC | 0.56% | Equity (US) | US |
| FTNT | FORTINET INC | 0.50% | Equity (US) | US |
| MPWR | MONOLITHIC POWER SYSTEMS INC | 0.46% | Equity (US) | US |
| NXPI | NXP SEMICONDUCTORS NV | 0.43% | Equity (Foreign) | NL |
| HPE | HEWLETT PACKARD ENTERPRISE | 0.42% | Equity (US) | US |
| TEL | TE CONNECTIVITY PLC | 0.40% | Equity (Foreign) | IE |
| DDOG | DATADOG INC CLASS A | 0.39% | Equity (US) | US |
| LITE | LUMENTUM HOLDINGS INC | 0.36% | Equity (US) | US |
| ADSK | AUTODESK INC | 0.35% | Equity (US) | US |
| KEYS | KEYSIGHT TECHNOLOGIES IN | 0.33% | Equity (US) | US |
| ROP | ROPER TECHNOLOGIES INC | 0.30% | Equity (US) | US |
| COHR | COHERENT CORP | 0.29% | Equity (US) | US |
| CIEN | CIENA CORP | 0.27% | Equity (US) | US |
| TER | TERADYNE INC | 0.26% | Equity (US) | US |
| WDAY | WORKDAY INC CLASS A | 0.24% | Equity (US) | US |
| NTAP | NETAPP INC | 0.23% | Equity (US) | US |
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.81% | -7.72% | 10.30% | 5.46% | -0.50% | -0.29% | 1.34% |
| Feb | -1.11% | -5.12% | -1.90% | 3.40% | -0.95% | -4.47% | -1.69% |
| Mar | -1.55% | 5.26% | 11.43% | -1.18% | -5.57% | -4.76% | 0.60% |
| Apr | 3.11% | -10.75% | 0.04% | -6.02% | 0.95% | 18.23% | 0.93% |
| May | -0.65% | -2.17% | 8.85% | 8.18% | 8.38% | 18.01% | 6.77% |
| Jun | 7.22% | -9.22% | 4.77% | 7.38% | 8.71% | -2.68% | 2.70% |
| Jul | 3.71% | 13.19% | 2.80% | -4.01% | 4.69% | -5.90% | 2.41% |
| Aug | 3.93% | -6.01% | -1.67% | 4.60% | 2.09% | 4.75% | 1.28% |
| Sep | -6.03% | -11.75% | -6.96% | 7.40% | 8.49% | 6.59% | -0.38% |
| Oct | 6.57% | 4.42% | -1.01% | 0.90% | 5.64% | -9.25% | 1.21% |
| Nov | 4.61% | 7.22% | 10.75% | 4.39% | -5.20% | -3.00%* | 3.13% |
| Dec | 4.48% | -8.60% | 3.72% | -1.45% | 0.56% | -- | -0.26% |
| Total | 27.18% | -29.82% | 47.11% | 31.68% | 29.26% | 13.93% | 19.89% |
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: $178.60
SMA 50: $187.08
SMA 200: $170.81
Current: $169.14
EMA 12: $174.01
EMA 26: $179.45
MACD: -5.4390 | Signal: -0.5502
BEARISH
ADX (14): 32.90
TREND
+DI: 17.99
−DI: 35.81
Momentum Oscillators
RSI (14): 38.55
NEUTRAL
Stoch %K: 34.97
Stoch %D: 33.70
Williams %R: -76.20
Volume & Volatility
BB Upper: $195.56
BB Lower: $161.64
NEUTRAL
OBV: 698,681,148
Vol SMA 20: 12,309,849
Vol ROC: -68.85%
ATR: $5.53
True Range: $6.24
HV 20: 46.1%
HV 30: 39.4%
HV 60: 31.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-14T00:00:00 – 2026-11-12T00:00:00
AI Analysis
XLK (Technology Select Sector SPDR) - Comprehensive Analysis Report
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
XLK is a $107.7B passively-managed technology sector ETF trading at $170.88, currently in a confirmed downtrend with strong bearish technical signals and elevated put positioning. The fund is experiencing significant headwinds: price trades 6.3% below its 20-day SMA ($182.26), momentum indicators flash weakness (RSI 37.80, Stochastic %K 13.12), and the MACD histogram remains deeply negative at -3.88. Notably, the put/call OI ratio of 2.26 and put/call volume ratio of 1.38 signal distinctly bearish sentiment among options traders.
Key Drivers: Downtrend in technology sector, deteriorating momentum, heavily concentrated portfolio (top 10 holdings = 65.5%), and weakened options market sentiment. Primary Risks: Beta of 1.78 amplifies downside moves relative to broader market; high historical volatility (HV20 45.2%) creates risk of accelerated drawdowns; position concentration means single-name weakness (AAPL 16.9%, NVDA 14.8%, MSFT 13.4%) cascades across fund.
Investment Thesis: XLK is in a confirmed downtrend with deteriorating momentum and bearish options positioning, though options market expects only modest moves ($12.40 32-DTE). The fund's valuations remain elevated (weighted P/E 28.5) while only 50% of holdings trade above their 200-day averages, suggesting broad sector weakness. Recent news sentiment leans negative on tech/rate risks and potential IPO headwinds (Anthropic).
Technical Analysis
Trend Direction
Short-term (1-4 weeks): BEARISH
- Price $170.88 trades 6.3% below 20-day SMA ($182.26), indicating downtrend establishment
- EMA 12 ($176.38) remains above price but trending lower relative to EMA 26 ($182.30)
- ADX at 33.17 confirms a strong directional trend is in place (>25 = trending market)
- -DI dominates at 41.82 vs +DI 17.30, indicating sellers in control
Medium-term (1-3 months): BEARISH
- Price $170.88 remains above 50-day SMA ($188.15) but separation is widening to -8.9%
- 200-day SMA at $170.33 acts as near-term support; price barely above this level
- MACD histogram at -3.88 with signal line at -2.04 shows bearish momentum persisting
- The bearish crossover structure (12 EMA below 26 EMA) suggests downtrend continuity
Long-term (3-12 months): NEUTRAL-to-BEARISH
- Price near 200-day SMA ($170.33) suggests potential consolidation zone or further downside test
- However, price has not decisively broken below 200-day—this represents a critical support level
- Look-through data: only 50% of holdings trade above 200-day averages, indicating sector has rolled over from longer-term uptrend
Support/Resistance Levels
| Level | Type | Distance from Current | Significance | |-------|------|----------------------|--------------| | $170.33 | Support | -0.3% | 200-day SMA; critical long-term support | | $164.74 | Support | -3.6% | Lower Bollinger Band; potential capitulation zone | | $182.26 | Resistance | +6.6% | 20-day SMA; immediate overhead resistance | | $188.15 | Resistance | +10.0% | 50-day SMA; medium-term resistance | | $199.78 | Resistance | +16.9% | Upper Bollinger Band; strong reversal zone |
Key Observation: The 20-50-200 day MA structure is bearishly aligned (price below 20 < 50 > 200), though price proximity to 200-day suggests mean reversion risk if broader market stabilizes.
Momentum Signals
RSI (14): 37.80 — NEUTRAL (not yet oversold)
- Reading sits in neutral zone (30-70), but positioned in lower half, indicating downtrend momentum
- Not yet at oversold (<30), suggesting room for further weakness before potential bounce
- This is NOT a screaming buy signal; downtrend can persist with RSI at current levels
Stochastic %K/%D: 13.12 / 10.44 — OVERSOLD
- Deeply oversold (<20), with %K trending lower, %D lagging
- This is a extreme reading suggesting potential for mean-reversion bounce, but only confirmation of downtrend severity
- In strong downtrends (ADX 33.17), Stochastic oversold readings often precede further weakness before bouncing
- Cross-interpretation: Oversold doesn't mean "buy now"—it means momentum is extended to downside
Williams %R: -70.28 — OVERSOLD
- Reading below -80 threshold is NOT reached; at -70.28 sitting in the lower-neutral zone
- Suggests selling pressure but not yet at extreme capitulation levels
- If moves below -80, would signal potential reversal setup
MACD: -5.92 / Signal: -2.04 / Histogram: -3.88 — BEARISH
- MACD line (-5.92) remains significantly below signal line (-2.04) with negative histogram
- No bullish crossover in sight; signal line trending lower suggests momentum weakness continues
- This is the most consistently bearish indicator in the dataset
Bollinger Bands Position
- Price $170.88 sits 3.7% above lower band ($164.74) and 14.5% below upper band ($199.78)
- Bands width of 19.22 is moderate; not in extreme squeeze, but not at maximum expansion either
- Signal: Neutral per technical data, but in context of downtrend, proximity to lower band suggests potential support zone forming
- If price closes below $164.74, would enter panic-selling/capitulation zone
Volume Analysis
- Volume SMA 20: 12.6M shares (baseline volume)
- Volume Rate of Change: +106.4% — Critical signal: volume has DOUBLED vs 20-day average
- This elevated volume on downside confirms institutional and retail participation in selling
- On-Balance Volume: 689.3M — cumulative indicator showing persistent net selling pressure
- Interpretation: The downtrend is not on light volume (which would suggest weak conviction); volume surge indicates serious institutional repositioning out of tech
News & Sentiment Analysis
Recent Headlines Summary
The most recent 10 news items reveal a technology sector facing macro headwinds and structural concerns:
- Neutral/Tech Industry Commentary (Nov 6): "Three Jars of Almond Butter" analogy suggests portfolio concentration risk—relevant to XLK's 65.5% top-10 concentration
- Political/Election Implications for Tech (Nov 5): Democratic victory implications for Apple/tech—suggests policy uncertainty
- Comparative ETF Analysis (Nov 5): FTEC (Fidelity MSCI Tech) comparison reflects investor search for alternatives; implies skepticism
- Negative Catalyst: Anthropic IPO Risk (Nov 3): Motley Fool warns of increased IPO risk—suggests broader venture/tech investor caution
- Rate Risk & Tech Volatility Warnings (Oct 30): Explicit negative headline on rate risks and tech volatility—aligned with 45.2% HV20 reading
Sentiment Assessment
| Timeframe | Sentiment | Weighting | |-----------|-----------|-----------| | Last 7 days (Nov 3-6) | NEGATIVE | 60% of recent headlines | | 7-30 days (Oct 30) | NEGATIVE | Additional headwinds | | Overall aggregate | NEGATIVE | Clearly bearish tone |
Key Insight: News themes consistently highlight rate risks, volatility, concentration concerns, and policy uncertainty—all aligned with technical breakdown. No positive catalysts or bullish pivot points mentioned.
Catalyst Identification
Immediate (1-7 days):
- Election/policy implementation uncertainty (Democratic victory mentioned in Nov 5 headlines)
Generated
News
All XLK news →
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XLK Options Activity & IV Rank
XLK IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 31.7%
7-DTE IV: 36.1%
Expected Move: $11.93
7-DTE Move: $6.88
Days to Exp: 28 (2026-12-11)
Options Flow · All expiries
Call Volume: 30,008
Put Volume: 31,854
P/C Volume: 1.062
NEUTRAL
Call OI: 334,299
Put OI: 693,851
P/C OI: 2.076
Total OI: 1,028,150
ATM Options Pricing
ATM Call: $6.25
ATM Put: $5.67
Call %: 3.7%
Put %: 3.3%
Chain Summary
Chain Volume: 61,862
Chain OI: 1,028,150
Last Updated: 11/13/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
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.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
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 →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
LOW γ vs HISTORY
Estimated net dealer gamma is at the 1st 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
1%
vs own history
GEX tilt
-0.41
OI-weighted, today
Vanna tilt
+0.04
δ-sensitivity to IV
Charm tilt
+0.07
δ-decay vs time
? What is this?
· 421 ATM contracts, 306k 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:
Put 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.
Call vs ATM
IV(call wing) − IV(ATM), in vol pointsThe same measure on the upside: how the OTM call is priced against the at-the-money strike.
- Negative (typical) — calls trade below ATM for most stocks and indices, so the sign alone says little.
- Percentile vs own history: high = upside calls unusually rich for this name (squeezes, takeover talk, commodity supply scares); low = calls cheaper than usual.
Reading them together
Put or call vs ATM tells you how expensive that tail is. 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 put
68%
+9.8
pts
EXTREME
ATM 32.0% / Put 41.8%
30 DTE / 10d put
88%
+13.0
pts
EXTREME
ATM 31.8% / Put 44.8%
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
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)49.4MediumNov 13
IV Rank (30 DTE)61.6MediumNov 13
Straddle Price (30 DTE)$11.93Nov 13
Beta Analysis
Risk Metrics
Beta: 1.7953
Alpha: -1.12%
Correlation: 0.8551
R-Squared: 73.1%
Stock Volatility: 28.7%
Market Volatility: 13.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
XLK Institutional Ownership (13F)
Filings for 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.
29 filers$4.02B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $1.63B | 40.63% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $751.05M | 18.68% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $434.69M | 10.81% | 2026-06-30 |
| 4 | BNP Paribas Financial Markets Custodian | $332.61M | 8.27% | 2026-06-30 |
| 5 | Squarepoint Ops LLC | $169.26M | 4.21% | 2026-06-30 |
| 6 | Millennium Management LLC Custodian | $155.45M | 3.87% | 2026-06-30 |
| 7 | Royal Bank of Canada Custodian | $114.31M | 2.84% | 2026-06-30 |
| 8 | UBS Group AG Custodian | $100.69M | 2.51% | 2026-06-30 |
| 9 | Walleye Trading LLC | $57.69M | 1.44% | 2026-06-30 |
| 10 | Point72 Asset Management, L.P. | $49.00M | 1.22% | 2026-06-30 |
| 11 | Cavalier Investments, LLC | $38.10M | 0.95% | 2026-06-30 |
| 12 | PEAK6 LLC | $34.05M | 0.85% | 2026-06-30 |
| 13 | Parallax Volatility Advisers, L.P. | $27.49M | 0.68% | 2026-06-30 |
| 14 | Marshall Wace, LLP Custodian | $22.84M | 0.57% | 2026-06-30 |
| 15 | CAPITAL FUND MANAGEMENT S.A. | $21.51M | 0.54% | 2026-06-30 |
| 16 | Citigroup Inc. Custodian | $19.57M | 0.49% | 2026-09-30 |
| 17 | Brevan Howard Capital Management LP | $16.65M | 0.41% | 2026-06-30 |
| 18 | TUDOR INVESTMENT CORP ET AL | $16.19M | 0.40% | 2026-06-30 |
| 19 | Volterra Technologies LP | $6.38M | 0.16% | 2026-06-30 |
| 20 | Jain Global LLC | $5.72M | 0.14% | 2026-06-30 |
| 21 | Verition Fund Management LLC | $3.66M | 0.09% | 2026-06-30 |
| 22 | Qube Research & Technologies Ltd | $3.30M | 0.08% | 2026-06-30 |
| 23 | Twin Tree Management, LP | $2.88M | 0.07% | 2026-06-30 |
| 24 | Man Group plc | $1.87M | 0.05% | 2026-06-30 |
| 25 | CenterStar Asset Management, LLC | $763.42K | 0.02% | 2026-09-30 |
45 filers$6.99B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $2.21B | 31.62% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $975.86M | 13.96% | 2026-06-30 |
| 3 | ADAPT Investment Managers SA | $762.08M | 10.90% | 2026-06-30 |
| 4 | Millennium Management LLC Custodian | $591.60M | 8.46% | 2026-06-30 |
| 5 | Citadel Advisors LLC Custodian | $587.60M | 8.41% | 2026-06-30 |
| 6 | TUDOR INVESTMENT CORP ET AL | $244.15M | 3.49% | 2026-06-30 |
| 7 | Barclays PLC Custodian | $224.82M | 3.22% | 2026-09-30 |
| 8 | Squarepoint Ops LLC | $188.20M | 2.69% | 2026-06-30 |
| 9 | CREDIT AGRICOLE S A | $180.99M | 2.59% | 2026-06-30 |
| 10 | BNP Paribas Financial Markets Custodian | $144.99M | 2.07% | 2026-06-30 |
| 11 | Jain Global LLC | $143.84M | 2.06% | 2026-06-30 |
| 12 | Schonfeld Strategic Advisors LLC | $134.13M | 1.92% | 2026-06-30 |
| 13 | Point72 Asset Management, L.P. | $78.91M | 1.13% | 2026-06-30 |
| 14 | Cavalier Investments, LLC | $61.92M | 0.89% | 2026-06-30 |
| 15 | TORONTO DOMINION BANK | $55.25M | 0.79% | 2026-06-30 |
| 16 | Walleye Trading LLC | $51.31M | 0.73% | 2026-06-30 |
| 17 | Parallax Volatility Advisers, L.P. | $51.29M | 0.73% | 2026-06-30 |
| 18 | UBS Group AG Custodian | $43.82M | 0.63% | 2026-06-30 |
| 19 | LPL Financial LLC Custodian | $38.50M | 0.55% | 2026-09-30 |
| 20 | CAPITAL FUND MANAGEMENT S.A. | $32.37M | 0.46% | 2026-06-30 |
| 21 | Balyasny Asset Management L.P. | $29.53M | 0.42% | 2026-06-30 |
| 22 | CREDIT INDUSTRIEL ET COMMERCIAL | $29.34M | 0.42% | 2026-06-30 |
| 23 | Goldman Sachs Group Inc Custodian | $23.28M | 0.33% | 2026-06-30 |
| 24 | Citigroup Inc. Custodian | $19.57M | 0.28% | 2026-09-30 |
| 25 | MIRAE ASSET SECURITIES (USA) INC. | $19.57M | 0.28% | 2026-09-30 |
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
20.84M
SI % of Float
3.14%
Days to Cover
2.51
Short Vol Ratio
46.9%
Free Float
—
Float %
—
Short interest 2026-10-15 • Short volume 2026-11-12
XLK Constituent Performance
Click any bar to view the full quote for that stock.
XLK Constituents (76 of 76)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| AAPL | APPLE INC | 16.22% | $357.51 | +0.74% | +4.42% | +4.09% |
| NVDA | NVIDIA CORP | 13.15% | $160.75 | -3.27% | -13.87% | -24.93% |
| MSFT | MICROSOFT CORP | 12.10% | $524.54 | +0.29% | -1.14% | -0.85% |
| AVGO | BROADCOM INC | 5.14% | $344.75 | -5.38% | +17.39% | +4.87% |
| AMD | ADVANCED MICRO DEVICES | 5.11% | $522.45 | -10.74% | +16.35% | -1.19% |
| MU | MICRON TECHNOLOGY INC | 3.80% | $760.31 | -4.78% | +10.19% | -13.49% |
| CSCO | CISCO SYSTEMS INC | 2.51% | $95.34 | -6.54% | +1.59% | -11.22% |
| PLTR | PALANTIR TECHNOLOGIES INC A | 2.51% | $167.59 | -2.33% | +4.49% | -9.92% |
| AMAT | APPLIED MATERIALS INC | 1.99% | $361.46 | -5.11% | +8.64% | -11.68% |
| INTC | INTEL CORP | 1.97% | $58.73 | -4.03% | +4.36% | -34.63% |
| LRCX | LAM RESEARCH CORP | 1.87% | $223.39 | -4.44% | +11.45% | -15.36% |
| TXN | TEXAS INSTRUMENTS INC | 1.79% | $299.08 | -4.29% | +7.83% | +8.17% |
| PANW | PALO ALTO NETWORKS INC | 1.73% | $319.95 | -0.84% | +1.95% | -6.45% |
| ORCL | ORACLE CORP | 1.60% | $123.85 | -2.56% | +6.68% | -3.42% |
| IBM | INTL BUSINESS MACHINES CORP | 1.48% | $246.68 | +0.82% | +0.68% | +6.26% |
| CRWD | CROWDSTRIKE HOLDINGS INC A | 1.48% | $224.5 | -2.34% | +3.50% | -1.27% |
| KLAC | KLA CORP | 1.33% | $150.23 | -4.49% | +8.48% | -9.36% |
| ANET | ARISTA NETWORKS INC | 1.30% | $196.62 | -4.84% | +15.12% | +11.10% |
| ADI | ANALOG DEVICES INC | 1.26% | $394.48 | -3.62% | +8.50% | -0.24% |
| APH | AMPHENOL CORP CL A | 1.24% | $77.47 | -2.71% | +3.85% | -2.38% |
| QCOM | QUALCOMM INC | 1.19% | $170.55 | -3.72% | +3.11% | -0.91% |
| CRM | SALESFORCE INC | 1.13% | $217.25 | -0.15% | +1.68% | -9.74% |
| ACN | ACCENTURE PLC CL A | 0.98% | $252.43 | +0.99% | -3.10% | +9.91% |
| MRVL | MARVELL TECHNOLOGY INC | 0.94% | $154.23 | -6.21% | +9.23% | -32.30% |
| SNDK | SANDISK CORP | 0.90% | $860.69 | -8.19% | +3.07% | -33.76% |
| STX | SEAGATE TECHNOLOGY HOLDINGS | 0.79% | $519.73 | -4.66% | +12.74% | -18.67% |
| WDC | WESTERN DIGITAL CORP | 0.72% | $290.74 | -6.58% | +10.22% | -12.43% |
| DELL | DELL TECHNOLOGIES C | 0.72% | $339.02 | -8.66% | +3.19% | -24.95% |
| NOW | SERVICENOW INC | 0.67% | $101.5 | +0.83% | -0.46% | -28.51% |
| GLW | CORNING INC | 0.60% | $112.45 | -5.90% | +5.95% | -14.81% |
| ADBE | ADOBE INC | 0.60% | $241.65 | +1.30% | +0.98% | -1.45% |
| INTU | INTUIT INC | 0.59% | $341.24 | +0.31% | -0.08% | +4.95% |
| CDNS | CADENCE DESIGN SYS INC | 0.57% | $322.27 | -3.32% | +0.73% | +0.86% |
| MSI | MOTOROLA SOLUTIONS INC | 0.56% | $530.51 | +0.02% | +3.11% | +14.54% |
| SNPS | SYNOPSYS INC | 0.56% | $451.75 | -2.36% | +0.29% | -0.63% |
| FTNT | FORTINET INC | 0.50% | $126.87 | -2.06% | +6.76% | -24.99% |
| MPWR | MONOLITHIC POWER SYSTEMS INC | 0.46% | $1382.53 | -4.48% | +16.14% | +14.18% |
| NXPI | NXP SEMICONDUCTORS NV | 0.43% | $260.63 | -2.49% | +4.97% | +13.65% |
| HPE | HEWLETT PACKARD ENTERPRISE | 0.42% | $47.74 | -4.82% | +6.63% | -13.40% |
| TEL | TE CONNECTIVITY PLC | 0.40% | $214.19 | -1.67% | +3.47% | +0.73% |
| DDOG | DATADOG INC CLASS A | 0.39% | $182.17 | -1.24% | +1.75% | -26.28% |
| LITE | LUMENTUM HOLDINGS INC | 0.36% | $589.51 | -5.63% | +9.45% | -28.47% |
| ADSK | AUTODESK INC | 0.35% | $263.95 | +1.72% | +0.85% | +10.03% |
| KEYS | KEYSIGHT TECHNOLOGIES IN | 0.33% | $296.21 | -2.64% | +8.85% | -10.57% |
| ROP | ROPER TECHNOLOGIES INC | 0.30% | $482.83 | +1.04% | +1.31% | +26.16% |
| COHR | COHERENT CORP | 0.29% | $212.35 | -8.50% | +10.13% | -8.82% |
| CIEN | CIENA CORP | 0.27% | $276.99 | -5.78% | +13.81% | -16.75% |
| TER | TERADYNE INC | 0.26% | $247.88 | -6.02% | +13.60% | -23.73% |
| WDAY | WORKDAY INC CLASS A | 0.24% | $194.01 | +1.77% | +0.58% | +1.68% |
| NTAP | NETAPP INC | 0.23% | $180.9 | -2.78% | +6.92% | -11.24% |