Zacks Investment ResearchT3·6d ago
XLU State Street Utilities Select Sector SPDR ETF
ETF 41.99 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.
XLU
$41.99
—
Key stats
$41.99
Pre-market
$41.99
-0.02%
- 52-Week Range
- $39.03 – $47.80
- YTD
- -2.75%
- IV Rank (30D)
- 13.51
- Straddle Price
- $1.60
- P/C Vol Ratio
- 0.12
- Open
- $42.25
- Day Range
- $41.87 – $42.26
- Volume
- 37,706,819
- Prev Close
- $41.88
About
State Street Utilities Select Sector SPDR ETF (XLU) 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 19, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.08% issuer, Oct 21, 2026
- Assets
- $23.8B issuer-reported, Oct 19, 2026
- Trailing yield
- 2.89% paid quarterly
- Average daily volume
- $1.3B 30 sessions
- Holdings
- 34 top 10 are 58.7%
- Listed
- Dec 16, 1998 NYSE Arca
- Last fee change
- -1 bp filed Jan 24, 2025
- Net asset value
- $41.39 issuer, Oct 19, 2026 · closed -0.01% to NAV
- Median bid/ask spread
- 0.02% 30 days, issuer-reported
- 30-day SEC yield
- 2.98% issuer
- Tracking difference
- -0.02 pts vs index, after fees, FY 2025
Cost97
Liquidity100
Scale100
Diversification46
Moves with. Long Treasuries (8% of its variance, beta 0.41); Value over growth (7% of its variance, beta 0.37). These factors explain 20% of its daily moves over the last year, so most of what drives this fund is something else.
Stated objective. State Street Utilities 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 Utilities Select Sector Index (the Index). (from the fund's prospectus)
All 34 holdingsFlow historySimilar fundsOverlap toolAll Utilities ETFs
Fund flows
daily as of Oct 16, 2026issuer datathrough Jun 2026SEC filings- Oct 16, 2026
- −$203M latest day
- Latest 5 trading days
- −$78M
- Latest 21 trading days
- +$2.5B +10.6% of assets
- Year to date
- +$2.9B +$3.7B over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 16, 2026 | −$203M |
| Oct 15, 2026 | +$281M |
| Oct 14, 2026 | −$175M |
| Oct 13, 2026 | +$40M |
| Oct 12, 2026 | −$21M |
| Oct 9, 2026 | +$116M |
| Oct 8, 2026 | +$242M |
| Oct 7, 2026 | +$317M |
| Oct 6, 2026 | −$99M |
| Oct 5, 2026 | +$58M |
| Oct 2, 2026 | +$380M |
| Oct 1, 2026 | +$641M |
| Sep 30, 2026 | +$219M |
| Sep 29, 2026 | −$22M |
| Sep 28, 2026 | +$145M |
| Sep 25, 2026 | +$237M |
| Sep 24, 2026 | −$12M |
| Sep 23, 2026 | +$131M |
| Sep 22, 2026 | +$314M |
| Sep 21, 2026 | +$33M |
| Sep 18, 2026 | −$105M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$286M latest reported month
- Latest 3 months
- −$1.0B −4.5% of assets
- Latest 12 months
- +$1.9B +8.4% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$286M |
| May 2026 | −$471M |
| Apr 2026 | −$851M |
| Mar 2026 | +$1.0B |
| Feb 2026 | −$111M |
| Jan 2026 | +$139M |
| Dec 2025 | +$530M |
| Nov 2025 | −$404M |
| Oct 2025 | +$850M |
| Sep 2025 | −$472M |
| Aug 2025 | +$384M |
| Jul 2025 | +$1.0B |
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 | |
|---|---|---|---|---|---|
| FUTYFidelity MSCI Utilities Index ETF | 90% | 0.08% | $2.0B | −8.8% | compare |
| VPUVanguard Utilities ETF | 89% | 0.09% | $8.1B | −8.9% | compare |
| IDUiShares U.S. Utilities ETF | 85% | 0.37% | $1.4B | −7.0% | compare |
| RSPUInvesco S&P 500 Equal Weight Utilities ETF | 73% | 0.40% | $510M | −6.2% | compare |
| UTSLDirexion Daily Utilities Bull 3X ETF | 69% | — | $72M | −31.9% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 19, 2026issuer data- Holdings vs fair value
- −4.0% 13% under, 60% over · 100% covered
- Price / earnings
- 19.1 0% loss-making · 100% covered
- Price / book · sales
- 2.1 · 2.7 revenue growth −0.8%
- Above 200-day average
- 8% 65% above 50-day · by weight
- Short interest
- 3.8% of float, weighted · 4.6 days to cover
- Insider buying
- 17% of weight had net insider buying, 90 days; 43% net selling
- 13F holders
- +5.5% change in shares held by institutions, latest quarter
- Reporting earnings
- 29.0% of weight in 7 days; 64.2% in 14
Holdings reporting in the next 14 days · weighted implied move this week 1.48%
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
Dec 31, 2025 → Mar 31, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Increase | NRGNRG Energy Inc | 2.32% | 2.18% | +10.8% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.2%. Full holdings and history
Under the hood
fiscal year to Sep 30, 2025SEC census- Authorized participants
- 22 active of 45 with agreements; top 3 did 50%
- Created · redeemed
- $14.9B · $13.7B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.82% of assets on loan on average; earned 0.1 bp
- Return vs index
- -0.02 pts after fees; +0.08 before; daily s.d. 0.08
- 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 2026-10-20
Holdings
34
AUM
$24.1B
Provider
SPDR (State Street)
Inception
1998-12-16
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.08%
Dividend Yield
2.89%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.3004 | CD |
| 2026-06-22 | 2026-06-24 | $0.2844 | CD |
| 2026-03-23 | 2026-03-25 | $0.3099 | CD |
| 2025-12-22 | 2025-12-24 | $0.3172 | CD |
| 2025-09-22 | 2025-09-24 | $0.5678 | CD |
| 2025-06-23 | 2025-06-25 | $0.5574 | CD |
Asset Allocation
Top Holdings
top 34 of 34 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| NEE | NEXTERA ENERGY INC | 12.50% | Equity (US) | US |
| SO | SOUTHERN CO/THE | 7.93% | Equity (US) | US |
| DUK | DUKE ENERGY CORP | 7.19% | Equity (US) | US |
| CEG | CONSTELLATION ENERGY | 6.48% | Equity (US) | US |
| AEP | AMERICAN ELECTRIC POWER | 5.26% | Equity (US) | US |
| D | DOMINION ENERGY INC | 4.20% | Equity (US) | US |
| SRE | SEMPRA | 4.11% | Equity (US) | US |
| ETR | ENTERGY CORP | 3.73% | Equity (US) | US |
| XEL | XCEL ENERGY INC | 3.64% | Equity (US) | US |
| VST | VISTRA CORP | 3.60% | Equity (US) | US |
| EXC | EXELON CORP | 3.37% | Equity (US) | US |
| ED | CONSOLIDATED EDISON INC | 3.15% | Equity (US) | US |
| WEC | WEC ENERGY GROUP INC | 2.69% | Equity (US) | US |
| PEG | PUBLIC SERVICE ENTERPRISE GP | 2.68% | Equity (US) | US |
| AEE | AMEREN CORPORATION | 2.23% | Equity (US) | US |
| PCG | P G + E CORP | 2.21% | Equity (US) | US |
| ATO | ATMOS ENERGY CORP | 2.15% | Equity (US) | US |
| AWK | AMERICAN WATER WORKS CO INC | 2.05% | Equity (US) | US |
| DTE | DTE ENERGY COMPANY | 2.04% | Equity (US) | US |
| CNP | CENTERPOINT ENERGY INC | 2.01% | Equity (US) | US |
| PPL | PPL CORP | 1.98% | Equity (US) | US |
| ES | EVERSOURCE ENERGY | 1.87% | Equity (US) | US |
| FE | FIRSTENERGY CORP | 1.81% | Equity (US) | US |
| EIX | EDISON INTERNATIONAL | 1.65% | Equity (US) | US |
| CMS | CMS ENERGY CORP | 1.63% | Equity (US) | US |
| NRG | NRG ENERGY INC | 1.56% | Equity (US) | US |
| NI | NISOURCE INC | 1.56% | Equity (US) | US |
| EVRG | EVERGY INC | 1.45% | Equity (US) | US |
| LNT | ALLIANT ENERGY CORP | 1.34% | Equity (US) | US |
| PNW | PINNACLE WEST CAPITAL | 0.95% | Equity (US) | US |
| AES | AES CORP | 0.81% | Equity (US) | US |
| — | SSI US GOV MONEY MARKET CLASS | 0.13% | Cash/Money Market | — |
| — | US DOLLAR | 0.01% | Cash/Money Market | — |
| — | XAU UTILITIES DEC26 | 0.00% | Derivative | — |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 1.69% | -2.29% | -2.00% | -4.36% | 2.11% | 0.16% | -0.78% |
| Feb | -6.55% | -0.59% | -6.08% | -0.83% | 1.17% | 11.99% | -0.15% |
| Mar | 7.36% | 10.57% | 5.88% | 6.37% | -0.61% | -3.12% | 4.41% |
| Apr | 4.28% | -5.62% | 2.60% | 2.28% | -0.19% | 1.60% | 0.83% |
| May | -2.32% | 5.39% | -6.03% | 7.72% | 3.53% | -4.58% | 0.62% |
| Jun | -2.36% | -5.50% | 1.54% | -5.22% | -0.63% | 5.20% | -1.16% |
| Jul | 3.21% | 2.92% | 1.73% | 7.57% | 4.55% | -0.71% | 3.21% |
| Aug | 3.10% | 0.42% | -4.97% | 2.96% | -1.72% | -4.80% | -0.83% |
| Sep | -8.01% | -13.13% | -5.92% | 6.04% | 3.77% | -7.33% | -4.10% |
| Oct | 4.74% | -0.96% | 6.23% | -1.87% | 1.19% | 5.85%* | 2.53% |
| Nov | -2.06% | 6.55% | 3.96% | 6.14% | 1.66% | -- | 3.25% |
| Dec | 8.64% | -1.22% | -0.31% | -6.73% | -3.54% | -- | -0.63% |
| Total | 10.69% | -5.52% | -4.47% | 20.20% | 11.55% | 2.76% | 5.87% |
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: $40.79
SMA 50: $41.92
SMA 200: $44.29
Current: $42.00
EMA 12: $41.51
EMA 26: $41.41
MACD: 0.0976 | Signal: 0.2266
BEARISH
ADX (14): 19.73
RANGE
+DI: 22.03
−DI: 16.77
Momentum Oscillators
RSI (14): 56.49
NEUTRAL
Stoch %K: 82.43
Stoch %D: 83.76
Williams %R: -10.70
Volume & Volatility
BB Upper: $42.85
BB Lower: $38.74
NEUTRAL
OBV: 462,623,537
Vol SMA 20: 36,325,101
Vol ROC: -16.62%
ATR: $0.64
True Range: $0.39
HV 20: 16.3%
HV 30: 17.1%
HV 60: 15.3%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
XLU (Utilities Select Sector SPDR ETF) - Comprehensive Stock Analysis
Executive Summary
Overall Assessment: NEUTRAL with Confidence Level: 6/10
XLU presents a conflicted technical picture characterized by weakening momentum in a trending market environment. The ETF is caught between deteriorating short-term technicals (bearish MACD, elevated -DI) and defensive characteristics (low beta of 0.15, stable positioning). The primary driver is sector rotation dynamics within utilities, while the key risk is continued downside pressure if the technical breakdown extends below the $38.43 support level.
Investment Thesis: XLU is a defensive utility sector ETF currently experiencing technical deterioration with bearish momentum signals (-0.91 MACD histogram), but its ultra-low beta (0.15) and minimal market correlation (0.13) suggest it may serve as a hedging vehicle rather than a directional bet. News sentiment has shifted mixed, and the options market is pricing minimal expected moves ($1.69 over 31 days), reflecting the sector's characteristically low volatility profile.
Recent News Sentiment Impact: Mixed-to-positive with a slight positive bias. Three of six recent headlines show positive sentiment toward utilities ETFs (IDU, FXU, XLU), balanced against negative broad market news on Sep 16 and Sep 10. However, news headlines lack specific fundamental catalysts for XLU, suggesting sentiment is driven by broader utilities sector and macro sentiment rather than company-specific events.
Technical Analysis
Trend Direction
Short-term (1-4 weeks): BEARISH
- Current price ($40.95) trades below the SMA 20 ($40.69) by $0.26, indicating short-term weakness
- Price is significantly below SMA 50 ($42.46) and SMA 200 ($44.36), confirming an established downtrend
- The distance from current price to SMA 200 represents a 7.7% deficit, indicating considerable downside pressure
- EMA 12 ($40.24) sits below EMA 26 ($41.02), a bearish configuration suggesting momentum loss
Medium-term (1-3 months): BEARISH
- All major moving averages are in bearish alignment: SMA 20 < SMA 50 < SMA 200
- The gap between SMA 50 and SMA 200 ($1.90 or 4.5%) indicates sustained downtrend
- No signs of mean reversion attempts or recovery consolidation
Long-term (3-12 months): BEARISH
- SMA 200 at $44.36 represents the primary long-term resistance; price must recover 8.3% to reach this level
- Extended period below 200-day MA indicates structural weakness in the sector or ETF positioning
Support/Resistance Levels
| Level | Type | Distance from Current | Significance | |-------|------|----------------------|--------------| | $38.43 | Critical Support | -6.1% | Bollinger Band lower bound; strong institutional support zone | | $40.69 | Near-term Support | -0.6% | SMA 20; should hold to prevent acceleration lower | | $40.95 | Current Price | — | Neutral reference point | | $42.46 | Intermediate Resistance | +3.7% | SMA 50; break above this confirms trend reversal | | $42.95 | Resistance | +4.9% | Bollinger Band upper bound | | $44.36 | Long-term Resistance | +8.3% | SMA 200; critical for confirming uptrend restart |
Critical Observation: The current price positioning near the SMA 20 but well below both 50 and 200-day averages creates a "dead zone" with limited nearby support before reaching the Bollinger Band lower bound at $38.43.
Momentum Signals
RSI (14): 48.69 — NEUTRAL
- Reading sits directly in the neutral zone (30-70 range)
- Position at 48.69 is slightly bearish-biased (below 50 midpoint) but lacks conviction
- No overbought (>70) or oversold (<30) conditions present
- Suggests momentum is waning but not yet capitulated
MACD: -0.78 / Signal Line: 0.13 / Histogram: -0.91 — BEARISH
- Critical Signal: MACD line (-0.78) trades below the signal line (0.13), confirming bearish momentum
- The histogram value of -0.91 is negative and widening, indicating accelerating downward momentum
- This is a strong sell signal in technical analysis; suggests selling pressure is increasing, not decreasing
- MACD has not crossed above the zero line, meaning there is no positive momentum support
Stochastic Oscillators:
- %K (44.18) and %D (30.04) both remain in the lower half of the range
- %K below %D indicates downward momentum continuation
- Values are not yet in oversold territory (<20), meaning further downside is technically possible
- The divergence suggests momentum could accelerate lower before exhaustion
Williams %R: -29.36 — NEUTRAL/SLIGHTLY BEARISH
- Reading between 0 and -50 indicates neither overbought nor oversold conditions
- Position near -29 suggests room for further downside before exhaustion
Momentum Interpretation: The MACD bearish crossover combined with negative histogram expansion is the most significant momentum signal. This suggests selling pressure is actively increasing, making this a higher-conviction bearish signal than the neutral RSI would indicate.
Bollinger Bands Position
Current Configuration:
- Upper Band: $42.95
- Middle (SMA 20): $40.69
- Lower Band: $38.43
- Width: 11.11% (moderately wide)
- Signal: Neutral (price near middle band)
Interpretation:
- Price at $40.95 sits 0.4% above the middle band (SMA 20), indicating slight overweight to the lower band
- The band width of 11.11% represents moderate volatility compression — not a squeeze, but not expansive either
- The lower band at $38.43 represents critical support where mean-reversion buyers would likely emerge
- Breakout below $38.43 would signal a volatility expansion event and potential acceleration lower
- Current positioning suggests the market is testing mean-reversion logic, but lacking buying conviction
Volume Analysis
Volume Metrics:
- Volume SMA 20: 31.48M shares — establishes baseline daily volume expectation
- Volume Rate of Change: +95.66% — CRITICAL SIGNAL: Volume is running nearly DOUBLE the 20-day average
- On-Balance Volume: 475.51B — cumulative volume indicator showing historical buying/selling pressure
Interpretation:
- The +95.66% volume rate of change is extraordinarily elevated and represents a significant institutional activity signal
- High volume on downside moves indicates capitulation selling or forced liquidations — this is bearish
- Elevated volume combined with bearish technical signals suggests the downmove has institutional conviction, not retail panic
- This volume pattern supports the MACD bearish signal and indicates the decline is likely sustainable
Risk Assessment: The elevated volume on downside suggests institutional sellers are active, which could lead to further deterioration before any reversal. This is a warning sign that support levels ($38.43) may be tested with conviction.
News & Sentiment Analysis
Recent Headlines Summary
| Date | Headline | Sentiment | Relevance | |------|----------|-----------|-----------| | 2026-09-22 | IDU ETF Investment Question | POSITIVE | Positive utilities sector momentum | | 2026-09-16 | Broad Market News | NEGATIVE | Market-wide headwinds affecting utilities | | 2026-09-16 | VPU ETF Investment Question | NEUTRAL | No specific XLU or utilities catalyst | | 2026-09-10 | Broad Market News | NEGATIVE | Continued market pressure | | 2026-09-09 | FXU ETF Investment Question | POSITIVE | Positive utilities sector narrative | | 2026-09-02 | XLU-Specific Question | POSITIVE | Direct validation of XLU as investment |
Sentiment Assessment
Aggregate News Sentiment: MIXED (+0.17 sentiment score)
- 3 Positive headlines (50%)
- 2 Negative headlines (33%)
- 1 Neutral headline (17%)
Key Observation: The positive headlines cluster around "Should you invest in [utilities ETF]?"
Generated
News
All XLU news →
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Page 1 of 5
XLU Options Activity & IV Rank
XLU IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 16.7%
7-DTE IV: 16.6%
Expected Move: $1.60
7-DTE Move: $0.86
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 15,708
Put Volume: 1,811
P/C Volume: 0.115
BULLISH
Call OI: 185,847
Put OI: 51,012
P/C OI: 0.274
Total OI: 236,859
ATM Options Pricing
ATM Call: $0.92
ATM Put: $0.68
Call %: 2.2%
Put %: 1.6%
Chain Summary
Chain Volume: 125,053
Chain OI: 2,695,393
Last Updated: 10/21/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
HIGH γ vs HISTORY
Estimated net dealer gamma is at the 97th percentile of this name's own daily history, near the high end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
97%
vs own history
GEX tilt
+0.48
OI-weighted, today
Vanna tilt
+0.34
δ-sensitivity to IV
Charm tilt
-0.24
δ-decay vs time
Vanna tilt +0.34: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
? What is this?
· 235 ATM contracts, 1025k 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
18%
+0.6
pts
EXTREME
as of Oct 21 · ATM 16.8% / Wing 17.5%
30 DTE / 10d
31%
+2.4
pts
EXTREME
as of Oct 21 · ATM 16.7% / Wing 19.1%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
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Volatility Smile
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IV Rank (7 DTE)7.7LowOct 21
IV Rank (30 DTE)13.5LowOct 21
Straddle Price (30 DTE)$1.60Oct 21
Beta Analysis
Risk Metrics
Beta: 0.1274
Alpha: -8.30%
Correlation: 0.1036
R-Squared: 1.1%
Stock Volatility: 15.6%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
XLU 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.
34 filers$1.64B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $486.97M | 29.62% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $357.01M | 21.72% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $129.26M | 7.86% | 2026-06-30 |
| 4 | Wolverine Trading, LLC Custodian | $86.17M | 5.24% | 2025-09-30 |
| 5 | UBS Group AG Custodian | $76.18M | 4.63% | 2026-06-30 |
| 6 | Millennium Management LLC Custodian | $75.63M | 4.60% | 2026-06-30 |
| 7 | Walleye Trading LLC | $70.39M | 4.28% | 2026-06-30 |
| 8 | TUDOR INVESTMENT CORP ET AL | $62.35M | 3.79% | 2026-06-30 |
| 9 | BNP Paribas Financial Markets Custodian | $45.34M | 2.76% | 2026-06-30 |
| 10 | Wells Fargo & Company Custodian | $38.54M | 2.34% | 2026-06-30 |
| 11 | Brevan Howard Capital Management LP | $34.01M | 2.07% | 2026-06-30 |
| 12 | Citigroup Inc. Custodian | $33.10M | 2.01% | 2026-06-30 |
| 13 | Cubist Systematic Strategies, LLC | $32.56M | 1.98% | 2025-09-30 |
| 14 | Point72 Asset Management, L.P. | $29.87M | 1.82% | 2026-06-30 |
| 15 | Parallax Volatility Advisers, L.P. | $15.27M | 0.93% | 2026-06-30 |
| 16 | Balyasny Asset Management L.P. | $14.93M | 0.91% | 2026-06-30 |
| 17 | CAPITAL FUND MANAGEMENT S.A. | $11.83M | 0.72% | 2026-06-30 |
| 18 | Goldman Sachs Group Inc Custodian | $11.34M | 0.69% | 2026-06-30 |
| 19 | Eisler Capital Management Ltd. | $5.26M | 0.32% | 2025-09-30 |
| 20 | Royal Bank of Canada Custodian | $4.71M | 0.29% | 2026-06-30 |
| 21 | Jefferies Financial Group Inc. | $4.55M | 0.28% | 2026-06-30 |
| 22 | Squarepoint Ops LLC | $4.41M | 0.27% | 2026-06-30 |
| 23 | Volterra Technologies LP | $3.47M | 0.21% | 2026-06-30 |
| 24 | Jain Global LLC | $3.40M | 0.21% | 2026-06-30 |
| 25 | Man Group plc | $1.26M | 0.08% | 2026-06-30 |
44 filers$3.24B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $491.18M | 15.14% | 2026-06-30 |
| 2 | UBS Group AG Custodian | $398.49M | 12.29% | 2026-06-30 |
| 3 | TUDOR INVESTMENT CORP ET AL | $331.73M | 10.23% | 2026-06-30 |
| 4 | Millennium Management LLC Custodian | $309.13M | 9.53% | 2026-06-30 |
| 5 | Susquehanna International Group, LLP Custodian | $270.84M | 8.35% | 2026-06-30 |
| 6 | Balyasny Asset Management L.P. | $212.60M | 6.55% | 2026-06-30 |
| 7 | Citadel Advisors LLC Custodian | $182.30M | 5.62% | 2026-06-30 |
| 8 | Barclays PLC Custodian | $168.21M | 5.19% | 2026-06-30 |
| 9 | Royal Bank of Canada Custodian | $150.98M | 4.65% | 2026-06-30 |
| 10 | Walleye Trading LLC | $77.92M | 2.40% | 2026-06-30 |
| 11 | Yaupon Capital Management LP | $68.01M | 2.10% | 2026-06-30 |
| 12 | Wolverine Trading, LLC Custodian | $65.03M | 2.00% | 2025-09-30 |
| 13 | BNP Paribas Financial Markets Custodian | $56.30M | 1.74% | 2026-06-30 |
| 14 | CREDIT AGRICOLE S A | $49.42M | 1.52% | 2026-06-30 |
| 15 | Cubist Systematic Strategies, LLC | $49.18M | 1.52% | 2025-09-30 |
| 16 | PEAK6 LLC | $39.52M | 1.22% | 2026-06-30 |
| 17 | Point72 Asset Management, L.P. | $36.14M | 1.11% | 2026-06-30 |
| 18 | Parallax Volatility Advisers, L.P. | $35.50M | 1.09% | 2026-06-30 |
| 19 | Goldman Sachs Group Inc Custodian | $34.76M | 1.07% | 2026-06-30 |
| 20 | Brevan Howard Capital Management LP | $34.01M | 1.05% | 2026-06-30 |
| 21 | Jain Global LLC | $33.10M | 1.02% | 2026-06-30 |
| 22 | Squarepoint Ops LLC | $22.13M | 0.68% | 2026-06-30 |
| 23 | Wells Fargo & Company Custodian | $21.99M | 0.68% | 2026-06-30 |
| 24 | Citigroup Inc. Custodian | $19.04M | 0.59% | 2026-06-30 |
| 25 | CAPITAL FUND MANAGEMENT S.A. | $18.60M | 0.57% | 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
32.93M
SI % of Float
5.63%
Days to Cover
1.10
Short Vol Ratio
74.3%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
XLU Constituent Performance
Click any bar to view the full quote for that stock.
XLU Constituents (31 of 31)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| NEE | NEXTERA ENERGY INC | 12.50% | $78.28 | -0.74% | -0.11% | +1.64% |
| SO | SOUTHERN CO/THE | 7.93% | $90.39 | -0.35% | +1.13% | +8.29% |
| DUK | DUKE ENERGY CORP | 7.19% | $120.67 | -0.54% | +0.86% | +5.69% |
| CEG | CONSTELLATION ENERGY | 6.48% | $270.74 | +4.60% | -3.15% | +2.60% |
| AEP | AMERICAN ELECTRIC POWER | 5.26% | $127.39 | +0.13% | +1.00% | +7.59% |
| D | DOMINION ENERGY INC | 4.20% | $62.33 | -0.81% | -0.75% | +1.90% |
| SRE | SEMPRA | 4.11% | $83.5 | +0.83% | +1.84% | +5.70% |
| ETR | ENTERGY CORP | 3.73% | $106.08 | +0.87% | +1.51% | +6.90% |
| XEL | XCEL ENERGY INC | 3.64% | $76.78 | +0.13% | +1.88% | +8.66% |
| VST | VISTRA CORP | 3.60% | $156.14 | +3.87% | +2.87% | +13.17% |
| EXC | EXELON CORP | 3.37% | $43.05 | +0.05% | +1.06% | +5.80% |
| ED | CONSOLIDATED EDISON INC | 3.15% | $111.82 | -0.14% | +2.03% | +8.98% |
| WEC | WEC ENERGY GROUP INC | 2.69% | $108.5 | -0.23% | +1.64% | +7.25% |
| PEG | PUBLIC SERVICE ENTERPRISE GP | 2.68% | $71 | +0.20% | +0.62% | +5.48% |
| AEE | AMEREN CORPORATION | 2.23% | $106.48 | +0.24% | +1.82% | +6.76% |
| PCG | P G + E CORP | 2.21% | $13.15 | -0.23% | +0.00% | +5.96% |
| ATO | ATMOS ENERGY CORP | 2.15% | $166.95 | -0.11% | +1.84% | +6.85% |
| AWK | AMERICAN WATER WORKS CO INC | 2.05% | $134.76 | -0.76% | +2.32% | +1.28% |
| DTE | DTE ENERGY COMPANY | 2.04% | $129.65 | +0.26% | +1.04% | +5.50% |
| CNP | CENTERPOINT ENERGY INC | 2.01% | $40.32 | +0.20% | +1.61% | +8.50% |
| PPL | PPL CORP | 1.98% | $34.58 | -0.09% | -0.49% | +7.22% |
| ES | EVERSOURCE ENERGY | 1.87% | $65.6 | +0.24% | -1.60% | +1.06% |
| FE | FIRSTENERGY CORP | 1.81% | $45.51 | -0.46% | +0.22% | +4.26% |
| EIX | EDISON INTERNATIONAL | 1.65% | $57.19 | +1.17% | +3.16% | +6.88% |
| CMS | CMS ENERGY CORP | 1.63% | $68.13 | -0.42% | +1.96% | +7.89% |
| NRG | NRG ENERGY INC | 1.56% | $99.8 | +2.00% | -1.04% | -0.91% |
| NI | NISOURCE INC | 1.56% | $42.99 | +0.54% | +4.19% | +9.53% |
| EVRG | EVERGY INC | 1.45% | $83.15 | +0.35% | +0.58% | +6.03% |
| LNT | ALLIANT ENERGY CORP | 1.34% | $68.39 | +0.18% | +1.30% | +7.38% |
| PNW | PINNACLE WEST CAPITAL | 0.95% | $103.89 | +0.96% | +1.81% | +12.86% |
| AES | AES CORP | 0.81% | $14.97 | +0.00% | +0.07% | +1.08% |