Zacks Investment ResearchT3·14h ago
XLV State Street Health Care Select Sector SPDR ETF
ETF 176.71 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.
XLV
$176.71
—
Key stats
$176.71
- 52-Week Range
- $141.38 – $178.86
- YTD
- +13.63%
- IV Rank (30D)
- 87.29
- Straddle Price
- $7.70
- P/C Vol Ratio
- 1.16
- Open
- $178.20
- Day Range
- $176.33 – $178.28
- Volume
- 8,549,671
- Prev Close
- $177.19
About
State Street Health Care Select Sector SPDR ETF (XLV) ETF
No description available.
- Exchange
- ARCX
- Inception
- 1998-12-16
- Has Options
- Yes
- Homepage
- https://www.ssga.com/us/en/individual/etfs
Fund profile
holdings as of Oct 14, 2026issuer datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.08% issuer, Oct 16, 2026
- Assets
- $44.8B issuer-reported, Oct 14, 2026
- Trailing yield
- 1.44% paid quarterly
- Average daily volume
- $1.4B 30 sessions
- Holdings
- 64 top 10 are 60.4%
- Listed
- Dec 16, 1998 NYSE Arca
- Last fee change
- -1 bp filed Jan 24, 2025
- Net asset value
- $173.83 issuer, Oct 14, 2026 · closed +0.06% to NAV
- Median bid/ask spread
- 0.01% 30 days, issuer-reported
- 30-day SEC yield
- 1.46% issuer
- Tracking difference
- -0.04 pts vs index, after fees, FY 2025
Cost97
Liquidity100
Scale100
Diversification42
Moves with. Value over growth (16% of its variance, beta 0.57); US large-cap stocks (14% of its variance, beta 0.79); Developed markets ex-US over US (4% of its variance, beta 0.28); Emerging markets over US (3% of its variance, beta -0.22). These factors explain 41% of its daily moves over the last year.
Stated objective. State Street Health Care 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 Health Care Select Sector Index (the Index). (from the fund's prospectus)
All 64 holdingsFlow historySimilar fundsOverlap toolAll Health Care ETFs
Fund flows
daily as of Oct 13, 2026issuer datathrough Jun 2026SEC filings- Oct 13, 2026
- +$17M latest day
- Latest 5 trading days
- +$134M
- Latest 21 trading days
- −$167M −0.4% of assets
- Year to date
- +$464M +$1.4B over 12 months
Each day
| Day | Net flow |
|---|---|
| Oct 13, 2026 | +$17M |
| Oct 12, 2026 | −$120M |
| Oct 9, 2026 | +$85M |
| Oct 8, 2026 | +$235M |
| Oct 7, 2026 | −$84M |
| Oct 6, 2026 | $0 |
| Oct 5, 2026 | +$42M |
| Oct 2, 2026 | +$91M |
| Oct 1, 2026 | −$100M |
| Sep 30, 2026 | +$135M |
| Sep 29, 2026 | −$102M |
| Sep 28, 2026 | +$60M |
| Sep 25, 2026 | +$111M |
| Sep 24, 2026 | +$34M |
| Sep 23, 2026 | +$236M |
| Sep 22, 2026 | +$280M |
| Sep 21, 2026 | −$819M |
| Sep 18, 2026 | −$59M |
| Sep 17, 2026 | −$51M |
| Sep 16, 2026 | −$151M |
| Sep 15, 2026 | −$8.4M |
Daily figures are the change in shares outstanding times net asset value, both as the issuer publishes them each day.
- Jun 2026
- +$7.3M latest reported month
- Latest 3 months
- −$1.1B −2.6% of assets
- Latest 12 months
- +$401M +1.0% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$7.3M |
| May 2026 | −$540M |
| Apr 2026 | −$529M |
| Mar 2026 | −$912M |
| Feb 2026 | +$675M |
| Jan 2026 | +$1.3B |
| Dec 2025 | −$399M |
| Nov 2025 | +$927M |
| Oct 2025 | +$1.2B |
| Sep 2025 | −$384M |
| Aug 2025 | −$188M |
| Jul 2025 | −$802M |
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 | |
|---|---|---|---|---|---|
| TRUHVanEck Healthcare TruSector ETF | 95% | — | $833K | — | compare |
| IYHiShares U.S. Healthcare ETF | 91% | 0.37% | $4.3B | +24.2% | compare |
| FHLCFidelity MSCI Health Care Index ETF | 86% | 0.08% | $3.7B | +24.4% | compare |
| VHTVanguard Health Care ETF | 85% | 0.09% | $19.9B | +24.0% | compare |
| IXJiShares Global Healthcare ETF | 74% | 0.38% | $4.5B | +17.9% | 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
- +1.9% 22% under, 21% over · 100% covered
- Price / earnings
- 35.7 6% loss-making · 100% covered
- Price / book · sales
- 4.9 · 1.7 revenue growth +8.4%
- Above 200-day average
- 93% 79% above 50-day · by weight
- Short interest
- 2.0% of float, weighted · 3.1 days to cover
- Insider buying
- 4% of weight had net insider buying, 90 days; 68% net selling
- 13F holders
- +2.0% change in shares held by institutions, latest quarter
- Reporting earnings
- 13.2% of weight in 7 days; 57.7% in 14
Holdings reporting in the next 14 days · weighted implied move this week 0.77%
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 |
|---|---|---|---|---|
| New position | VEEVVeeva Systems Inc | — | 0.46% | — |
| Exit | HOLXHologic Inc | 0.32% | — | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.7%. Full holdings and history
Under the hood
fiscal year to Sep 30, 2025SEC census- Authorized participants
- 23 active of 45 with agreements; top 3 did 56%
- Created · redeemed
- $27.7B · $31.0B over the fiscal year
- Redemptions in kind
- 100% creations 100% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 0.56% of assets on loan on average; earned 0.1 bp
- Return vs index
- -0.04 pts after fees; +0.04 before; daily s.d. 0.06
- 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
64
AUM
$44.8B
Provider
SPDR (State Street)
Inception
1998-12-16
Exchange
ARCX
Data As Of
2026-10-14
Expense Ratio
0.08%
Dividend Yield
1.44%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-21 | 2026-09-23 | $0.6422 | CD |
| 2026-06-22 | 2026-06-24 | $0.6563 | CD |
| 2026-03-23 | 2026-03-25 | $0.5947 | CD |
| 2025-12-22 | 2025-12-24 | $0.6568 | CD |
| 2025-09-22 | 2025-09-24 | $0.6249 | CD |
| 2025-06-23 | 2025-06-25 | $0.6304 | CD |
Asset Allocation
Top Holdings
top 50 of 64 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| LLY | ELI LILLY + CO | 15.33% | Equity (US) | US |
| JNJ | JOHNSON + JOHNSON | 9.70% | Equity (US) | US |
| ABBV | ABBVIE INC | 7.89% | Equity (US) | US |
| MRK | MERCK + CO. INC. | 5.76% | Equity (US) | US |
| UNH | UNITEDHEALTH GROUP INC | 5.63% | Equity (US) | US |
| TMO | THERMO FISHER SCIENTIFIC INC | 3.94% | Equity (US) | US |
| AMGN | AMGEN INC | 3.65% | Equity (US) | US |
| GILD | GILEAD SCIENCES INC | 3.02% | Equity (US) | US |
| ABT | ABBOTT LABORATORIES | 2.81% | Equity (US) | US |
| PFE | PFIZER INC | 2.64% | Equity (US) | US |
| ISRG | INTUITIVE SURGICAL INC | 2.35% | Equity (US) | US |
| DHR | DANAHER CORP | 2.23% | Equity (US) | US |
| VRTX | VERTEX PHARMACEUTICALS INC | 2.00% | Equity (US) | US |
| BMY | BRISTOL MYERS SQUIBB CO | 1.92% | Equity (US) | US |
| CVS | CVS HEALTH CORP | 1.83% | Equity (US) | US |
| MDT | MEDTRONIC PLC | 1.83% | Equity (Foreign) | IE |
| MCK | MCKESSON CORP | 1.80% | Equity (US) | US |
| SYK | STRYKER CORP | 1.56% | Equity (US) | US |
| ELV | ELEVANCE HEALTH INC | 1.47% | Equity (US) | US |
| MRNA | MODERNA INC | 1.33% | Equity (US) | US |
| CI | THE CIGNA GROUP | 1.21% | Equity (US) | US |
| REGN | REGENERON PHARMACEUTICALS | 1.21% | Equity (US) | US |
| HCA | HCA HEALTHCARE INC | 1.10% | Equity (US) | US |
| COR | CENCORA INC | 1.02% | Equity (US) | US |
| BSX | BOSTON SCIENTIFIC CORP | 0.99% | Equity (US) | US |
| CAH | CARDINAL HEALTH INC | 0.91% | Equity (US) | US |
| BDX | BECTON DICKINSON AND CO | 0.82% | Equity (US) | US |
| HUM | HUMANA INC | 0.81% | Equity (US) | US |
| EW | EDWARDS LIFESCIENCES CORP | 0.79% | Equity (US) | US |
| A | AGILENT TECHNOLOGIES INC | 0.78% | Equity (US) | US |
| VEEV | VEEVA SYSTEMS INC CLASS A | 0.70% | Equity (US) | US |
| IQV | IQVIA HOLDINGS INC | 0.68% | Equity (US) | US |
| WAT | WATERS CORP | 0.68% | Equity (US) | US |
| IDXX | IDEXX LABORATORIES INC | 0.66% | Equity (US) | US |
| ILMN | ILLUMINA INC | 0.65% | Equity (US) | US |
| CNC | CENTENE CORP | 0.55% | Equity (US) | US |
| BIIB | BIOGEN INC | 0.55% | Equity (US) | US |
| RMD | RESMED INC | 0.54% | Equity (US) | US |
| MTD | METTLER TOLEDO INTERNATIONAL | 0.51% | Equity (US) | US |
| DXCM | DEXCOM INC | 0.50% | Equity (US) | US |
| ZTS | ZOETIS INC | 0.49% | Equity (US) | US |
| GEHC | GE HEALTHCARE TECHNOLOGY | 0.49% | Equity (US) | US |
| WST | WEST PHARMACEUTICAL SERVICES | 0.42% | Equity (US) | US |
| DGX | QUEST DIAGNOSTICS INC | 0.41% | Equity (US) | US |
| LH | LABCORP HOLDINGS INC | 0.41% | Equity (US) | US |
| STE | STERIS PLC | 0.34% | Equity (Foreign) | IE |
| VTRS | VIATRIS INC | 0.32% | Equity (US) | US |
| INCY | INCYTE CORP | 0.30% | Equity (US) | US |
| ZBH | ZIMMER BIOMET HOLDINGS INC | 0.28% | Equity (US) | US |
| RVTY | REVVITY INC | 0.27% | Equity (US) | US |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 1.84% | -5.89% | -1.55% | 1.15% | 6.73% | -0.50% | 0.30% |
| Feb | -2.48% | -1.23% | -5.09% | 1.84% | 1.01% | 2.90% | -0.51% |
| Mar | 2.33% | 6.00% | 1.97% | 0.95% | -2.39% | -7.52% | 0.22% |
| Apr | 4.24% | -5.63% | 2.00% | -4.19% | -2.00% | -1.18% | -1.13% |
| May | 0.73% | 2.12% | -4.76% | 2.22% | -2.93% | 2.97% | 0.06% |
| Jun | 3.60% | -1.60% | 3.16% | 0.72% | 1.56% | 7.32% | 2.46% |
| Jul | 4.00% | 2.10% | 1.91% | 3.24% | -4.59% | 2.01% | 1.45% |
| Aug | 2.18% | -5.07% | -0.18% | 4.00% | 4.80% | 5.12% | 1.81% |
| Sep | -5.88% | -4.49% | -3.62% | -1.84% | 1.17% | -1.89% | -2.76% |
| Oct | 5.10% | 7.40% | -3.13% | -4.14% | 0.54% | 6.32%* | 2.02% |
| Nov | -2.94% | 4.66% | 5.22% | -0.22% | 9.14% | -- | 3.17% |
| Dec | 8.80% | -2.56% | 3.45% | -6.51% | -0.32% | -- | 0.57% |
| Total | 22.72% | -5.27% | -1.29% | -3.32% | 12.49% | 15.66% | 6.83% |
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: $170.14
SMA 50: $170.00
SMA 200: $157.51
Current: $176.71
EMA 12: $171.95
EMA 26: $170.43
MACD: 1.5212 | Signal: 0.9180
BULLISH
ADX (14): 13.68
RANGE
+DI: 32.13
−DI: 16.38
Momentum Oscillators
RSI (14): 65.98
NEUTRAL
Stoch %K: 90.59
Stoch %D: 86.23
Williams %R: -15.73
Volume & Volatility
BB Upper: $176.03
BB Lower: $164.25
OVERBOUGHT
OBV: -104,834,337
Vol SMA 20: 8,476,431
Vol ROC: 19.54%
ATR: $2.81
True Range: $1.95
HV 20: 16.4%
HV 30: 16.7%
HV 60: 17.2%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-18T00:00:00 – 2026-10-16T00:00:00
AI Analysis
XLV (Health Care Select Sector SPDR ETF) - Comprehensive Stock Analysis
Executive Summary
Overall Assessment: NEUTRAL with confidence level 6/10
Investment Thesis: XLV presents a mixed technical and sentiment picture characterized by neutral momentum in a range-bound market environment. While recent news sentiment is predominantly positive and the healthcare sector shows relative strength, weak trend conviction (ADX 11.50) and conflicting momentum signals limit directional clarity. The extremely low beta (0.27) positions this as a defensive holding with limited upside participation, suitable for risk-averse investors but potentially constraining for growth-oriented strategies.
Key Drivers:
- Positive healthcare sector narrative with multiple comparative favorable mentions
- Defensive characteristics (beta 0.27) providing portfolio stability
- Neutral technical momentum offering consolidation opportunity
- Elevated implied volatility premium (66.6% IV vs realized volatility)
Primary Risks:
- Weak trend strength (ADX 11.50) indicates low conviction buying
- Stochastic oscillators deeply overbought (74.36 and 80.70), signaling potential mean reversion
- Negative OBV (-89.4M) suggests underlying selling pressure despite price stability
- IV premium expansion creates risk of volatility compression
Technical Analysis
Trend Direction
Short-term (1-4 weeks): NEUTRAL/SLIGHTLY BULLISH
- Price at $168.42 trades marginally below SMA 20 ($169.07) and very close to SMA 50 ($168.30)
- EMA 12 ($169.53) above EMA 26 ($169.14), indicating recent bullish momentum
- ADX 14 at 11.50 signals a range-bound market with weak trend conviction
- +DI (18.89) slightly above -DI (18.04), marginal directional bias
Medium-term (1-3 months): NEUTRAL
- Price remains well above SMA 200 ($156.59), confirming longer-term uptrend structure
- Distance to 200-day MA: +$11.83 (7.1% above), healthy cushion
- Trend lacks momentum acceleration; consolidation pattern appears to be forming
Long-term (3-12 months): BULLISH
- Sustained position above 200-day moving average
- Healthcare sector positioning favorable; positive comparative mentions in recent news
- Defensive characteristics support longer-duration holding
Support/Resistance Levels
Immediate Support (Critical):
- SMA 50: $168.30 (immediate support - currently just below price)
- Lower Bollinger Band: $164.79 (technical support, 2.1% below current price)
- Recent consolidation base: ~$166-167 zone
Immediate Resistance (Critical):
- SMA 20: $169.07 (short-term resistance)
- Upper Bollinger Band: $173.35 (technical resistance, 2.9% above current price)
- Previous highs: $170-172 zone
Breakout Levels:
- Above $173.35: Breakout above upper Bollinger Band would signal acceleration
- Below $164.79: Break of lower BB would indicate breakdown and test $156.59 (SMA 200)
Momentum Signals
RSI (14): 47.70 - NEUTRAL
- Position in neutral zone (30-70 range) indicates no overbought/oversold conditions
- Neither suggesting imminent reversal nor strong continuation
- Slightly below midpoint (50) suggests modest bearish lean, though minimal
MACD: BULLISH CROSSOVER SIGNAL
- MACD (0.38) significantly above Signal Line (0.01)
- Histogram positive at +0.38 and likely expanding
- Clear bullish momentum signature, though from relatively low absolute levels
- Recent crossover suggests emerging bullish momentum
Stochastic Oscillators: OVERBOUGHT - CAUTION
- %K at 74.36 and %D at 80.70 both in overbought territory (>70)
- This is the strongest bearish technical signal in the dataset
- Suggests near-term pullback risk or consolidation before further upside
- Indicates fast-moving short-term rally into resistance
Williams %R: -51.04
- Positioned in neutral zone (range -80 to 0)
- Slight bearish tilt from center point but not extreme
Bollinger Bands: NEUTRAL
- Width of 5.06 is moderate, neither squeeze nor extreme expansion
- Price position near middle band ($169.07), equidistant from extremes
- Not signaling imminent breakout or strong compression
Volume Analysis
Volume Trends - CRITICAL RED FLAG:
- Volume SMA 20: 7.93M shares average
- Volume Rate of Change: +66.48% (elevated volume activity)
- However, On-Balance Volume: -89.44M (deeply negative)
Interpretation: The combination of elevated volume (+66.48% above average) with negative OBV is highly concerning. This suggests:
- Heavy selling pressure despite maintaining price levels
- Distribution by sophisticated players masking weakness
- Potential exhaustion setup if price cannot break to new highs on this volume
Institutional Activity Signals:
- High volume with negative OBV suggests institutions may be taking profits or reducing positions
- This is a bearish divergence - price resilience not confirmed by accumulation
News & Sentiment Analysis
Recent Headlines Summary
All 6 recent headlines focus on comparative ETF analysis (XLV vs. competing healthcare ETFs):
- XLV vs. iShares IXJ (State Street/iShares comparison) - POSITIVE
- ALPS Medical Breakthroughs ETF evaluation - POSITIVE (sector positive)
- Invesco S&P 500 Equal Weight Health Care ETF analysis - POSITIVE (sector positive)
- XLV vs. Vanguard Health Care ETF - NEUTRAL (balanced comparison)
- XLV vs. VanEck BBH (biotech comparison) - POSITIVE
- XLV vs. IBBQ (broad healthcare vs. biotech) - POSITIVE
Sentiment Assessment
Aggregate Sentiment: POSITIVE (5 of 6 headlines positive)
- Strong positive tone from investment research firms (Motley Fool, Zacks)
- Headlines suggest XLV maintains competitive positioning in healthcare ETF landscape
- No negative news regarding holdings, regulatory issues, or sector concerns
- Recent date range (Sept 13, 2026 most recent) indicates current relevance
Catalyst Identification
No Immediate Earnings/Catalysts:
- ETF status means no singular "earnings date"
- Sector-level catalysts would include:
- FDA approvals for major pharma holdings
- Clinical trial results for biotech positions
- Healthcare policy announcements
- Quarterly rebalancing cycles
Near-term Sentiment Catalysts:
- Continued favorable positioning in healthcare ETF comparisons
- Potential rotation into defensive healthcare sectors
Market Narrative
Analysis of News-Technical Alignment:
| Signal | Direction | Strength | |--------|-----------|----------| | News Sentiment | Bullish | Medium (comparative strength) | | Technical Trend | Neutral-Bullish | Weak (low ADX 11.50) | | Momentum (MACD) | Bullish | Medium (recent crossover) | | Momentum (Stochastic) | Bearish | Strong (deeply overbought) | | Volume (OBV) | Bearish | Strong (deeply negative) |
Critical Observation: Positive news sentiment and bullish MACD momentum are contradicted by negative OBV and overbought stochastic readings. This suggests:
- Price strength may be driven by limited volume accumulation
- Near-term pullback risk before resuming uptrend
- Classic setup for "buy the news, sell the fact" scenario
Risk & Volatility Assessment
Beta Interpretation: 0.27 (VERY LOW - DEFENSIVE)
Assessment:
- XLV moves only 27% as much as the S&P 500 (SPY)
- This is an exceptionally low beta, indicating:
- High defensive characteristics
- Minimal systemic market risk participation
- Suitable for risk-averse portfolios
- Limited upside capture in bull markets
Context:
- Beta <0.8 classifies as defensive (this is 0.27, extremely so)
- Appropriate for capital preservation
Generated
News
All XLV news →
Zacks Investment ResearchT3·8d ago
Zacks Investment ResearchT3·14d ago
The Motley FoolT3·1mo ago
Zacks Investment ResearchT3·1mo ago
Zacks Investment ResearchT3·1mo ago
The Motley FoolT3·2mo ago
The Motley FoolT3·2mo ago
The Motley FoolT3·2mo ago
The Motley FoolT3·2mo ago
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XLV Options Activity & IV Rank
XLV IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 19.1%
7-DTE IV: 16.6%
Expected Move: $7.70
7-DTE Move: $3.30
Days to Exp: 28 (2026-11-13)
Options Flow
Call Volume: 213
Put Volume: 248
P/C Volume: 1.164
NEUTRAL
Call OI: 1,075
Put OI: 427
P/C OI: 0.397
Total OI: 1,502
ATM Options Pricing
ATM Call: $3.73
ATM Put: $3.98
Call %: 2.1%
Put %: 2.2%
Chain Summary
Chain Volume: 66,930
Chain OI: 680,461
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 78th 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
78%
vs own history
GEX tilt
+0.38
OI-weighted, today
Vanna tilt
+0.28
δ-sensitivity to IV
Charm tilt
-0.44
δ-decay vs time
Charm tilt -0.44: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 317 ATM contracts, 233k 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
32%
+1.8
pts
EXTREME
ATM 18.7% / Wing 20.5%
30 DTE / 10d
16%
+0.9
pts
EXTREME
ATM 19.7% / Wing 20.5%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)25.5MediumOct 16
IV Rank (30 DTE)87.3HighOct 16
Straddle Price (30 DTE)$7.70Oct 16
Beta Analysis
Risk Metrics
Beta: 0.2451
Alpha: 19.27%
Correlation: 0.1938
R-Squared: 3.8%
Stock Volatility: 16.1%
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
XLV 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.
36 filers$2.66B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $1.12B | 41.90% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $388.32M | 14.59% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $199.77M | 7.50% | 2026-06-30 |
| 4 | Squarepoint Ops LLC | $106.56M | 4.00% | 2026-06-30 |
| 5 | PEAK6 LLC | $90.10M | 3.38% | 2026-06-30 |
| 6 | BNP Paribas Financial Markets Custodian | $79.33M | 2.98% | 2026-06-30 |
| 7 | Longaeva Partners L.P. | $77.35M | 2.91% | 2026-06-30 |
| 8 | TUDOR INVESTMENT CORP ET AL | $71.81M | 2.70% | 2026-06-30 |
| 9 | Goldman Sachs Group Inc Custodian | $71.59M | 2.69% | 2026-06-30 |
| 10 | Millennium Management LLC Custodian | $63.99M | 2.40% | 2026-06-30 |
| 11 | Parallax Volatility Advisers, L.P. | $63.46M | 2.38% | 2026-06-30 |
| 12 | Walleye Trading LLC | $45.71M | 1.72% | 2026-06-30 |
| 13 | Citigroup Inc. Custodian | $41.68M | 1.57% | 2026-06-30 |
| 14 | Wells Fargo & Company Custodian | $39.66M | 1.49% | 2026-06-30 |
| 15 | UBS Group AG Custodian | $34.04M | 1.28% | 2026-06-30 |
| 16 | Wolverine Trading, LLC Custodian | $31.15M | 1.17% | 2025-09-30 |
| 17 | Balyasny Asset Management L.P. | $28.07M | 1.05% | 2026-06-30 |
| 18 | Point72 Asset Management, L.P. | $26.86M | 1.01% | 2026-06-30 |
| 19 | NOMURA HOLDINGS INC | $17.31M | 0.65% | 2026-06-30 |
| 20 | Royal Bank of Canada Custodian | $15.87M | 0.60% | 2026-06-30 |
| 21 | CAPSTONE INVESTMENT ADVISORS, LLC | $13.88M | 0.52% | 2026-06-30 |
| 22 | CAPITAL FUND MANAGEMENT S.A. | $10.98M | 0.41% | 2026-06-30 |
| 23 | Cubist Systematic Strategies, LLC | $8.36M | 0.31% | 2025-09-30 |
| 24 | SILVERBACK ASSET MANAGEMENT LLC | $7.93M | 0.30% | 2026-06-30 |
| 25 | Verition Fund Management LLC | $4.20M | 0.16% | 2026-06-30 |
36 filers$2.38B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $878.07M | 36.96% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $443.14M | 18.65% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $208.75M | 8.79% | 2026-06-30 |
| 4 | UBS Group AG Custodian | $148.70M | 6.26% | 2026-06-30 |
| 5 | Millennium Management LLC Custodian | $143.97M | 6.06% | 2026-06-30 |
| 6 | Balyasny Asset Management L.P. | $73.57M | 3.10% | 2026-06-30 |
| 7 | Citigroup Inc. Custodian | $58.97M | 2.48% | 2026-06-30 |
| 8 | Goldman Sachs Group Inc Custodian | $54.15M | 2.28% | 2026-06-30 |
| 9 | Squarepoint Ops LLC | $44.12M | 1.86% | 2026-06-30 |
| 10 | Wolverine Trading, LLC Custodian | $40.50M | 1.70% | 2025-09-30 |
| 11 | Point72 Asset Management, L.P. | $36.25M | 1.53% | 2026-06-30 |
| 12 | NOMURA HOLDINGS INC | $31.80M | 1.34% | 2026-06-30 |
| 13 | CREDIT AGRICOLE S A | $31.73M | 1.34% | 2026-06-30 |
| 14 | Parallax Volatility Advisers, L.P. | $30.10M | 1.27% | 2026-06-30 |
| 15 | Walleye Trading LLC | $25.58M | 1.08% | 2026-06-30 |
| 16 | PEAK6 LLC | $23.75M | 1.00% | 2026-06-30 |
| 17 | Cubist Systematic Strategies, LLC | $16.66M | 0.70% | 2025-09-30 |
| 18 | Volterra Technologies LP | $16.60M | 0.70% | 2026-06-30 |
| 19 | TUDOR INVESTMENT CORP ET AL | $16.37M | 0.69% | 2026-06-30 |
| 20 | BNP Paribas Financial Markets Custodian | $13.55M | 0.57% | 2026-06-30 |
| 21 | CAPITAL FUND MANAGEMENT S.A. | $11.55M | 0.49% | 2026-06-30 |
| 22 | Cavalier Investments, LLC | $7.93M | 0.33% | 2026-06-30 |
| 23 | CSS LLC/IL | $3.76M | 0.16% | 2026-06-30 |
| 24 | Qube Research & Technologies Ltd | $2.84M | 0.12% | 2026-06-30 |
| 25 | DLD Asset Management, LP | $2.38M | 0.10% | 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
16.92M
SI % of Float
6.54%
Days to Cover
2.10
Short Vol Ratio
58.8%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-16
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|