Zacks Investment ResearchT3·18h ago
XLRE State Street Real Estate Select Sector SPDR ETF
ETF 42.16 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.
XLRE
$42.16
—
Key stats
$42.16
- 52-Week Range
- $39.73 – $46.45
- YTD
- +4.41%
- IV Rank (30D)
- 67.21
- Straddle Price
- $1.57
- P/C Vol Ratio
- 0.69
- Open
- $42.19
- Day Range
- $41.95 – $42.48
- Volume
- 8,059,258
- Prev Close
- $41.99
About
State Street Real Estate Select Sector SPDR ETF (XLRE) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2015-10-07
- 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
- $7.7B issuer-reported, Oct 14, 2026
- Trailing yield
- 3.44% paid quarterly
- Average daily volume
- $272M 30 sessions
- Holdings
- 33 top 10 are 59.3%
- Listed
- Oct 7, 2015 NYSE Arca
- Last fee change
- -1 bp filed Jan 24, 2025
- Net asset value
- $41.49 issuer, Oct 14, 2026 · closed +0.03% to NAV
- Median bid/ask spread
- 0.02% 30 days, issuer-reported
- 30-day SEC yield
- 3.48% issuer
- Tracking difference
- -0.10 pts vs index, after fees, FY 2025
Cost97
Liquidity100
Scale100
Diversification45
Moves with. US large-cap stocks (15% of its variance, beta 0.64); Value over growth (15% of its variance, beta 0.52); Long Treasuries (7% of its variance, beta 0.29); Developed markets ex-US over US (6% of its variance, beta 0.28). These factors explain 49% of its daily moves over the last year.
Stated objective. State Street Real Estate 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 Real Estate Select Sector Index (the Index). (from the fund's prospectus)
All 33 holdingsFlow historySimilar fundsOverlap toolAll Real Estate ETFs
Fund flows
daily as of Oct 13, 2026issuer datathrough Jun 2026SEC filings- Oct 13, 2026
- −$65M latest day
- Latest 5 trading days
- −$58M
- Latest 21 trading days
- +$11M +0.1% of assets
- Year to date
- +$120M −$100M over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 13, 2026 | −$65M |
| Oct 12, 2026 | $0 |
| Oct 9, 2026 | −$35M |
| Oct 8, 2026 | −$2.0M |
| Oct 7, 2026 | +$45M |
| Oct 6, 2026 | +$37M |
| Oct 5, 2026 | $0 |
| Oct 2, 2026 | −$43M |
| Oct 1, 2026 | −$16M |
| Sep 30, 2026 | +$29M |
| Sep 29, 2026 | +$39M |
| Sep 28, 2026 | $0 |
| Sep 25, 2026 | +$33M |
| Sep 24, 2026 | +$29M |
| Sep 23, 2026 | +$13M |
| Sep 22, 2026 | +$38M |
| Sep 21, 2026 | +$6.4M |
| Sep 18, 2026 | −$404M |
| Sep 17, 2026 | +$352M |
| Sep 16, 2026 | −$13M |
| Sep 15, 2026 | −$32M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$152M latest reported month
- Latest 3 months
- +$233M +2.9% of assets
- Latest 12 months
- +$251M +3.1% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$152M |
| May 2026 | +$311M |
| Apr 2026 | −$230M |
| Mar 2026 | +$133M |
| Feb 2026 | +$86M |
| Jan 2026 | −$381M |
| Dec 2025 | +$48M |
| Nov 2025 | −$209M |
| Oct 2025 | −$17M |
| Sep 2025 | +$151M |
| Aug 2025 | +$107M |
| Jul 2025 | +$100M |
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 | |
|---|---|---|---|---|---|
| ICFiShares Select U.S. REIT ETF | 84% | 0.32% | $2.1B | +6.1% | compare |
| IYRiShares U.S. Real Estate ETF | 80% | 0.37% | $4.1B | +1.9% | compare |
| IYRINEOS Real Estate High Income ETF | 79% | 0.68% | $303M | −7.6% | compare |
| DRNDirexion Daily Real Estate Bull 3X ETF | 76% | — | $40M | −2.8% | compare |
| FRELFidelity MSCI Real Estate Index ETF | 74% | 0.08% | $1.3B | +1.9% | 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
- +6.9% 33% under, 13% over · 96% covered
- Price / earnings
- 33.9 1% loss-making · 96% covered
- Price / book · sales
- 2.6 · 5.4 revenue growth +9.6%
- Above 200-day average
- 22% 28% above 50-day · by weight
- Short interest
- 3.0% of float, weighted · 4.2 days to cover
- Insider buying
- 18% of weight had net insider buying, 90 days; 57% net selling
- 13F holders
- +1.7% change in shares held by institutions, latest quarter
- Reporting earnings
- 8.2% of weight in 7 days; 65.0% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.15%
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 |
|---|---|---|---|---|
| Increase | ORealty Income Corp | 4.39% | 4.55% | +11.1% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.6%. 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 53%
- Created · redeemed
- $4.2B · $4.1B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.06% of assets on loan on average; earned 0.0 bp
- Return vs index
- -0.10 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
33
AUM
$7.7B
Provider
SPDR (State Street)
Inception
2015-10-07
Exchange
ARCX
Data As Of
2026-10-14
Expense Ratio
0.08%
Dividend Yield
3.44%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.3547 | CD |
| 2026-06-22 | 2026-06-24 | $0.3811 | CD |
| 2026-03-23 | 2026-03-25 | $0.2711 | CD |
| 2025-12-22 | 2025-12-24 | $0.4361 | CD |
| 2025-09-22 | 2025-09-24 | $0.3167 | CD |
| 2025-06-23 | 2025-06-25 | $0.3754 | CD |
Asset Allocation
Top Holdings
top 33 of 33 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| WELL | WELLTOWER INC | 11.62% | Equity (US) | US |
| PLD | PROLOGIS INC | 8.61% | Equity (US) | US |
| EQIX | EQUINIX INC | 6.83% | Equity (US) | US |
| AMT | AMERICAN TOWER CORP | 5.81% | Equity (US) | US |
| PSA | PUBLIC STORAGE | 4.58% | Equity (US) | US |
| SPG | SIMON PROPERTY GROUP INC | 4.54% | Equity (US) | US |
| VTR | VENTAS INC | 4.41% | Equity (US) | US |
| VMRK | VIVMARK RESIDENTIAL | 4.38% | Equity (US) | US |
| O | REALTY INCOME CORP | 4.29% | Equity (US) | US |
| CBRE | CBRE GROUP INC A | 4.27% | Equity (US) | US |
| DLR | DIGITAL REALTY TRUST INC | 4.26% | Equity (US) | US |
| CCI | CROWN CASTLE INC | 3.92% | Equity (US) | US |
| IRM | IRON MOUNTAIN INC | 3.83% | Equity (US) | US |
| EXR | EXTRA SPACE STORAGE INC | 3.29% | Equity (US) | US |
| VICI | VICI PROPERTIES INC | 2.93% | Equity (US) | US |
| SBAC | SBA COMMUNICATIONS CORP | 2.23% | Equity (US) | US |
| ESS | ESSEX PROPERTY TRUST INC | 2.01% | Equity (US) | US |
| HST | HOST HOTELS + RESORTS INC | 1.82% | Equity (US) | US |
| KIM | KIMCO REALTY CORP | 1.74% | Equity (US) | US |
| INVH | INVITATION HOMES INC | 1.66% | Equity (US) | US |
| WY | WEYERHAEUSER CO | 1.58% | Equity (US) | US |
| MAA | MID AMERICA APARTMENT COMM | 1.54% | Equity (US) | US |
| DOC | HEALTHPEAK PROPERTIES INC | 1.50% | Equity (US) | US |
| CSGP | COSTAR GROUP INC | 1.42% | Equity (US) | US |
| REG | REGENCY CENTERS CORP | 1.39% | Equity (US) | US |
| UDR | UDR INC | 1.15% | Equity (US) | US |
| CPT | CAMDEN PROPERTY TRUST | 1.13% | Equity (US) | US |
| BXP | BXP INC | 1.07% | Equity (US) | US |
| FRT | FEDERAL REALTY INVS TRUST | 0.97% | Equity (US) | US |
| ARE | ALEXANDRIA REAL ESTATE EQUIT | 0.76% | Equity (US) | US |
| — | SSI US GOV MONEY MARKET CLASS | 0.16% | Cash/Money Market | — |
| — | US DOLLAR | 0.15% | Cash/Money Market | — |
| — | EMINI S+P REESTATEDEC26 | -0.01% | Derivative | — |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 3.90% | -7.77% | 9.50% | -5.69% | 2.80% | 2.60% | 0.89% |
| Feb | -0.67% | -4.15% | -6.55% | 0.80% | 4.35% | 7.03% | 0.13% |
| Mar | 5.64% | 7.43% | -0.64% | -0.03% | -3.84% | -7.04% | 0.25% |
| Apr | 6.61% | -5.44% | 1.94% | -6.82% | -1.38% | 8.42% | 0.55% |
| May | 1.69% | -2.58% | -3.64% | 5.08% | 0.75% | -0.74% | 0.09% |
| Jun | 0.75% | -6.58% | 4.55% | 1.35% | -0.89% | 1.76% | 0.16% |
| Jul | 4.20% | 6.61% | 0.53% | 8.28% | -0.70% | 2.01% | 3.49% |
| Aug | 2.76% | -4.76% | -2.89% | 4.11% | 2.47% | -2.37% | -0.11% |
| Sep | -8.35% | -14.26% | -7.92% | 2.34% | 1.30% | -7.11% | -5.67% |
| Oct | 6.43% | 0.14% | -1.05% | -2.70% | -2.92% | 3.64%* | 0.59% |
| Nov | -1.13% | 7.01% | 11.90% | 5.29% | 2.06% | -- | 5.03% |
| Dec | 10.78% | -5.69% | 5.39% | -8.24% | -1.80% | -- | 0.09% |
| Total | 36.23% | -28.09% | 9.53% | 2.28% | 1.87% | 7.18% | 4.83% |
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: $41.47
SMA 50: $43.11
SMA 200: $43.25
Current: $42.16
EMA 12: $41.64
EMA 26: $41.99
MACD: -0.3557 | Signal: 0.2276
BEARISH
ADX (14): 31.92
TREND
+DI: 28.23
−DI: 24.53
Momentum Oscillators
RSI (14): 51.72
NEUTRAL
Stoch %K: 75.61
Stoch %D: 72.65
Williams %R: -14.77
Volume & Volatility
BB Upper: $42.65
BB Lower: $40.29
NEUTRAL
OBV: 37,900,098
Vol SMA 20: 7,400,784
Vol ROC: 25.96%
ATR: $0.57
True Range: $0.53
HV 20: 13.7%
HV 30: 12.7%
HV 60: 12.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-18T00:00:00 – 2026-10-16T00:00:00
AI Analysis
XLRE Stock Analysis Report
Real Estate Select Sector SPDR Fund (XLRE)
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
XLRE presents a bearish technical setup with conflicting sentiment signals, though the low beta (0.28) provides some defensive characteristics. The fund is caught in a downtrend with deteriorating momentum indicators and strong selling pressure (-DI: 32.82 vs +DI: 19.23), despite mixed news sentiment. The primary risk is continuation of the downtrend below the $39.98 support level, while the primary opportunity lies in mean reversion if housing sentiment stabilizes.
Investment Thesis: XLRE is exhibiting technical weakness with bearish MACD divergence (-0.77 histogram) and elevated put/call ratios (1.63), signaling institutional defensive positioning in real estate exposure. While the fund's low correlation (0.26) to broader markets provides portfolio diversification benefits, near-term downside pressure appears likely absent a positive catalyst in housing sentiment or earnings surprises.
Recent News Sentiment Impact: Mixed-to-negative. The October 2, 2026 negative market sentiment combined with housing concerns (FAU Poll, July 20) outweigh positive ETF comparison articles. News lacks specificity on real estate fundamentals, limiting direct impact assessment.
Technical Analysis
Trend Direction
| Timeframe | Direction | Conviction | Key Evidence | |-----------|-----------|-----------|--------------| | Short-term (1-4 weeks) | DOWNTREND | Strong | Price ($41.43) below SMA 20 ($41.72), SMA 50 ($43.43), and SMA 200 ($43.21); EMA 12 ($41.26) below EMA 26 ($42.03) | | Medium-term (1-3 months) | DOWNTREND | Moderate | All major moving averages declining; -DI significantly elevated at 32.82 | | Long-term (3-12 months) | CONSOLIDATION | Moderate | Trading within 8.31-point band; historical volatility stable at ~12%, suggesting range-bound behavior |
Support/Resistance Levels
CRITICAL LEVELS TO MONITOR:
- Resistance (Near-term): $41.72 (SMA 20) → $42.03 (EMA 26) → $43.21-$43.43 (SMA 200/50 convergence)
- Support (Strong): $39.98 (Lower Bollinger Band) → $38.50 (implied previous support)
- Psychological Level: $41.00 round number
Assessment: Current price ($41.43) is sandwiched between SMA 20 resistance ($41.72, only 0.7% above) and Bollinger lower band support ($39.98, 3.5% below). This narrow range suggests imminent breakout/breakdown potential.
Momentum Signals
RSI (14): 41.46 — NEUTRAL BIAS
- Position between 30-70 indicates no overbought/oversold condition
- Location in neutral zone (slightly below 50) suggests moderate selling pressure without extreme exhaustion
- Implication: Room for further downside before true capitulation signal (<30)
MACD: -0.77 (Signal: 0.05) — BEARISH CROSSOVER
- Histogram value of -0.81 shows significant MACD below signal line
- Negative MACD with positive signal line represents a bearish crossover actively in effect
- MACD trending downward suggests momentum acceleration to downside
- Implication: Bearish momentum reinforces downtrend; watch for MACD upside crossover for potential reversal
Bollinger Bands: NEUTRAL POSITION
- Price at $41.43 is positioned above the middle band ($41.72) in the upper-middle zone
- Upper band at $43.45 and lower band at $39.98 create 8.31-point spread (average width)
- No extreme squeeze or expansion; bands reflect normal volatility
- Implication: Not in overbought territory; downside movement toward lower band ($39.98) would be contextually significant
Volume Analysis
Critical Data Points:
- Volume SMA 20: 6.54M shares (baseline expectation)
- Volume Rate of Change: -48.43% (SEVERE DETERIORATION)
- On-Balance Volume: 33.16M cumulative (tracking volume direction)
Interpretation:
- The -48.43% volume rate of change indicates volume is collapsing significantly relative to recent periods
- Low volume on a downtrend suggests weak conviction selling OR accumulated distribution
- Declining volume combined with downward price movement may indicate institutional exit or lack of buying interest
- Red Flag: When volume dries up on downtrends, breakouts can accelerate due to thin order book
Institutional Interest Signal: The elevated put/call ratio (1.63 volume, 1.66 OI) combined with low volume suggests defensive positioning rather than capitulation, consistent with risk-reduction strategy in a declining market.
News & Sentiment Analysis
Recent Headlines Summary
| Date | Source | Theme | Sentiment | |------|--------|-------|-----------| | Oct 2, 2026 | Zacks | General market weakness | NEGATIVE | | Sep 24, 2026 | Motley Fool | XLRE vs VNQ comparison | NEUTRAL | | Aug 25, 2026 | GlobeNewswire | Global development (macro) | NEUTRAL | | Jul 29, 2026 | Motley Fool | XLRE vs RWR comparison (XLRE favored) | POSITIVE | | Jul 20, 2026 | GlobeNewswire | Housing concerns from Hispanic consumers | NEGATIVE | | Jul 7, 2026 | Motley Fool | XLRE cost advantage highlighted | POSITIVE |
Sentiment Assessment
Aggregate Sentiment: MIXED-TO-NEGATIVE (3/10 negative bias)
Breakdown:
- Positive (33%): Two articles highlight XLRE's cost efficiency and competitiveness vs alternatives
- Negative (33%): Market weakness + housing consumer sentiment concerns
- Neutral (33%): Comparison pieces and macro commentary without directional view
Assessment Quality: News coverage is sparse and general without fund-specific catalysts. Most articles are comparative rather than fundamental analysis. The July 20 housing concern headline directly aligns with timing of technical deterioration, suggesting real estate sector headwinds.
Catalyst Identification
MISSING CRITICAL DATA: No earnings/distribution dates, REIT earnings calendars, or housing data release schedules provided.
Identifiable Catalysts (from available data):
- Negative Catalyst (Ongoing): Housing sentiment concerns with Hispanic consumers (suggesting broader affordability/demand issues)
- Neutral Catalysts (Past): Comparative ETF articles (Jul-Sep) show XLRE competing well on cost but no new information
- Market Catalyst (Immediate): Broad market weakness noted Oct 2, 2026 likely pressuring sector
Missing Catalysts to Monitor: Fed policy decisions, housing starts/permits data, mortgage rate movements, REIT earnings season timing
Market Narrative Alignment
Technical vs. News Conflict Assessment: MODERATE ALIGNMENT
✓ Supporting Alignment:
- Negative market sentiment (Oct 2) aligns with technical downtrend
- Housing concerns align with real estate sector weakness shown in technical breakdown
- Low volume suggests institutional caution matching defensive put positioning
✗ Conflicting Signals:
- Positive articles (Jul 7, Jul 29) praising XLRE haven't arrested downtrend
- XLRE's low correlation (0.26) to market suggests sector-specific factors, but broad market weakness dominates price action
- No fund-specific negative news (no holdings changes, strategy shifts, or fee increases) visible despite technical weakness
Narrative Interpretation: The downtrend appears driven by sector headwinds (real estate demand/affordability) rather than fund-specific issues, with positive comparative ETF articles failing to provide near-term support.
Risk & Volatility Assessment
Beta Interpretation: 0.28 (Low Risk, Defensive Positioning)
Significance:
- Beta of 0.28 means XLRE moves only 28% as much as SPY (S&P 500)
- Extremely low beta indicates this fund is defensive and provides portfolio stability
- Negative alpha (-0.03
Generated
News
All XLRE news →
The Motley FoolT3·6d ago
Zacks Investment ResearchT3·14d ago
The Motley FoolT3·23d ago
GlobeNewswire Inc.T3·1mo ago
The Motley FoolT3·2mo ago
GlobeNewswire Inc.T3·2mo ago
The Motley FoolT3·3mo ago
The Motley FoolT3·4mo ago
BenzingaT3·4mo ago
Showing 1–10 of 50
Page 1 of 5
XLRE Options Activity & IV Rank
XLRE IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 14.6%
7-DTE IV: —
Expected Move: $1.57
7-DTE Move: $0.15
Days to Exp: 35 (2026-11-20)
Options Flow
Call Volume: 413
Put Volume: 286
P/C Volume: 0.692
BULLISH
Call OI: 3,937
Put OI: 4,186
P/C OI: 1.063
Total OI: 8,123
ATM Options Pricing
ATM Call: $1.00
ATM Put: $0.57
Call %: 2.4%
Put %: 1.4%
Chain Summary
Chain Volume: 3,374
Chain OI: 35,545
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
TYPICAL γ
Estimated net dealer gamma is at the 55th 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
55%
vs own history
GEX tilt
-0.07
OI-weighted, today
Vanna tilt
+0.50
δ-sensitivity to IV
Charm tilt
-0.51
δ-decay vs time
Vanna tilt +0.50: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.51: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 48 ATM contracts, 21k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
12%
+0.2
pts
EXTREME
ATM 15.0% / Wing 15.3%
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)
IV Rank (30 DTE)67.2MediumOct 16
Straddle Price (30 DTE)$1.57Oct 16
Beta Analysis
Risk Metrics
Beta: 0.2776
Alpha: -2.32%
Correlation: 0.2502
R-Squared: 6.3%
Stock Volatility: 14.1%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
XLRE 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.
7 filers$26.88M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $10.69M | 39.78% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $8.41M | 31.27% | 2026-06-30 |
| 3 | Point72 Asset Management, L.P. | $2.92M | 10.86% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $2.73M | 10.14% | 2026-06-30 |
| 5 | Wolverine Trading, LLC Custodian | $1.20M | 4.48% | 2025-09-30 |
| 6 | Tidal Investments LLC | $722.09K | 2.69% | 2026-06-30 |
| 7 | Verition Fund Management LLC | $211.34K | 0.79% | 2026-06-30 |
13 filers$53.42M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $21.43M | 40.12% | 2026-06-30 |
| 2 | Jane Street Group, LLC Custodian | $9.97M | 18.67% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $6.71M | 12.55% | 2026-06-30 |
| 4 | UBS Group AG Custodian | $4.40M | 8.24% | 2026-06-30 |
| 5 | CREDIT INDUSTRIEL ET COMMERCIAL | $3.08M | 5.77% | 2026-06-30 |
| 6 | BNP Paribas Financial Markets Custodian | $2.20M | 4.12% | 2026-06-30 |
| 7 | Jain Global LLC | $1.76M | 3.30% | 2026-06-30 |
| 8 | Citigroup Inc. Custodian | $1.32M | 2.47% | 2026-06-30 |
| 9 | Parallax Volatility Advisers, L.P. | $1.32M | 2.47% | 2026-06-30 |
| 10 | Point72 Asset Management, L.P. | $594.40K | 1.11% | 2026-06-30 |
| 11 | Wolverine Trading, LLC Custodian | $365.05K | 0.68% | 2025-09-30 |
| 12 | Cubist Systematic Strategies, LLC | $240.14K | 0.45% | 2025-09-30 |
| 13 | Creative Planning Custodian | $19.60K | 0.04% | 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
4.24M
SI % of Float
2.26%
Days to Cover
1.00
Short Vol Ratio
70.8%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-16
XLRE Constituent Performance
Click any bar to view the full quote for that stock.
XLRE Constituents (30 of 30)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| WELL | WELLTOWER INC | 11.62% | $234.85 | +0.09% | +4.16% | +2.61% |
| PLD | PROLOGIS INC | 8.61% | $125.75 | -0.94% | -2.89% | -6.74% |
| EQIX | EQUINIX INC | 6.83% | $985.98 | -1.03% | -3.91% | -3.46% |
| AMT | AMERICAN TOWER CORP | 5.81% | $185.27 | +2.16% | +1.66% | +6.49% |
| PSA | PUBLIC STORAGE | 4.58% | $298.31 | +1.01% | +2.92% | +0.67% |
| SPG | SIMON PROPERTY GROUP INC | 4.54% | $205.44 | +1.01% | +3.02% | +0.06% |
| VTR | VENTAS INC | 4.41% | $85.86 | +1.18% | +4.66% | -0.96% |
| VMRK | VIVMARK RESIDENTIAL | 4.38% | $61.26 | +0.13% | +0.16% | +0.07% |
| O | REALTY INCOME CORP | 4.29% | $56.08 | +0.95% | +3.51% | -1.02% |
| CBRE | CBRE GROUP INC A | 4.27% | $133.08 | -1.78% | +1.74% | -4.60% |
| DLR | DIGITAL REALTY TRUST INC | 4.26% | $175.97 | +0.86% | -1.56% | -3.38% |
| CCI | CROWN CASTLE INC | 3.92% | $82.26 | +2.83% | +3.29% | +12.59% |
| IRM | IRON MOUNTAIN INC | 3.83% | $112.51 | -0.15% | -1.75% | -1.60% |
| EXR | EXTRA SPACE STORAGE INC | 3.29% | $139.61 | +1.39% | +3.68% | +2.12% |
| VICI | VICI PROPERTIES INC | 2.93% | $23.6 | +0.60% | +3.15% | -0.51% |
| SBAC | SBA COMMUNICATIONS CORP | 2.23% | $187.06 | +1.82% | +2.50% | +4.74% |
| ESS | ESSEX PROPERTY TRUST INC | 2.01% | $269.43 | -0.09% | -0.79% | -0.23% |
| HST | HOST HOTELS + RESORTS INC | 1.82% | $23.97 | +0.50% | +5.83% | +9.75% |
| KIM | KIMCO REALTY CORP | 1.74% | $22.91 | +1.06% | +3.38% | +1.69% |
| INVH | INVITATION HOMES INC | 1.66% | $27.07 | +1.01% | +1.05% | +0.59% |
| WY | WEYERHAEUSER CO | 1.58% | $19.61 | +1.19% | +2.67% | -7.59% |
| MAA | MID AMERICA APARTMENT COMM | 1.54% | $116.63 | +0.31% | -0.20% | -1.93% |
| DOC | HEALTHPEAK PROPERTIES INC | 1.50% | $18.98 | +0.11% | +0.96% | -6.64% |
| CSGP | COSTAR GROUP INC | 1.42% | $32.31 | +0.97% | +8.90% | +11.07% |
| REG | REGENCY CENTERS CORP | 1.39% | $73.24 | +0.27% | +1.65% | +0.40% |
| UDR | UDR INC | 1.15% | $34.26 | +0.15% | +0.41% | +1.06% |
| CPT | CAMDEN PROPERTY TRUST | 1.13% | $98.59 | +0.41% | +1.04% | -0.53% |
| BXP | BXP INC | 1.07% | $59.2 | -0.82% | +0.25% | -6.28% |
| FRT | FEDERAL REALTY INVS TRUST | 0.97% | $106.32 | +0.61% | +0.15% | -4.14% |
| ARE | ALEXANDRIA REAL ESTATE EQUIT | 0.76% | $41.62 | -1.70% | -8.55% | -21.91% |