OVL Stock Summary and Trading Ideas (Overlay Shares Large Cap Equity ETF | ARCA:OVL)

The Fund is an actively-managed exchange-traded fund ( ETF ) that seeks to achieve its objective by (i) investing in one or more other ETFs that seek to obtain exposure to the performance of U.S. large cap equity securities or directly in the securities held by such ETFs (collectively, the Underlying Investments ) and (ii) selling and purchasing listed short-term put options to generate income to the Fund (the Overlay Strategy ). The Fund s Overlay Strategy seeks to generate income for the Fund by utilizing a put spread consisting of the sale of exchange-listed short-term put options ( Short Puts ) with a notional value (strike price times the value of the shares) up to 100% of the Fund s net assets and the purchase of an identical number of short-term put options ( Long Puts ) with a lower strike price. The Fund seeks to generate income from the sale and purchase of put options with a lower strike price to hedge against a decline in the options underlying asset, the S&P500 Index, which consists of approximately 500 leading U.S.-listed companies representing approximately 80% of the U.S. equity market capitalization.

Overlay Shares Large Cap Equity ETF trades on the ARCA stock market under the symbol OVL.

As of April 25, 2024, OVL stock price was flat at $40.23 with 77 million shares trading.

OVL has a beta of 1.13, meaning it tends to be more sensitive to market movements. OVL has a correlation of 0.95 to the broad based SPY ETF.

OVL has a market cap of $131.14 million. This is considered a Micro Cap stock.

In the last 3 years, OVL stock traded as high as $42.61 and as low as $28.14.

OVL has outperformed the market in the last year with a price return of +25.7% while the SPY ETF gained +22.7%. OVL has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +4.7% and -2.8%, respectively, while the SPY returned +3.2% and -2.9%, respectively.

OVL support price is $39.73 and resistance is $40.73 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OVL stock will trade within this expected range on the day.