META - Detail Report

Quick Overview

Timeframe	C-C DoR σ (Historical)	H-L DoR σ (Historical)	O-C DoR σ (Historical)	5Y ATRP (Avg)	Binomial IV (Period)	Yahoo IV (Period)	1σ Lower (68.27%)	1σ Upper	2σ Lower (95.45%)	2σ Upper
Daily	2.50%	1.55%	1.81%	3.21%	2.00%	2.08%	642.67	668.91	629.94	682.43
Weekly	5.38%	5.23%	5.54%	7.78%	4.41%	4.58%	627.40	685.19	600.36	716.05
Monthly	10.90%	11.30%	11.54%	17.19%	9.17%	9.53%	598.21	718.63	545.79	787.65
Quarterly	19.97%	21.78%	22.88%	34.55%	15.88%	16.51%	559.36	768.53	477.21	900.84
Annual	—	—	—	—	31.77%	33.03%	477.21	900.84	347.33	1237.69
Option Time Horizon	—	—	—	—	12.22%	12.70%	580.25	740.88	513.50	837.17

Calculation Notes: Computed at 2026-02-22T14:16 UTC | Reference Contract: Call option expiring 2026-04-17 (54 days) | Spot Price (S): $655.66 | Strike (K): $660.00 (first OTM call ≥ spot) | Observed Mid-Price: $31.3750 (Bid $31.2500 / Ask $31.5000) | Risk-Free Rate (r): 3.72% (1-Month CMT, US Treasury) | Dividend Yield (q): 0.33% | Binomial IV (Annual): 31.77% (CRR binomial tree, American, n=20 steps) | BS IV: 31.71% (European Black-Scholes) | Yahoo IV (Annual): 33.03% → period-scaled as σ_period = σ_annual·√h | Price bands: Upper = S·e^+σ√h, Lower = S·e^−σ√h

Historical Dividend Payouts

Ex-Dividend Date	Amount
2025-12-15	$0.5250
2025-09-22	$0.5250
2025-06-16	$0.5250
2025-03-14	$0.5250
2024-12-16	$0.5000
2024-09-16	$0.5000
2024-06-14	$0.5000
2024-02-21	$0.5000

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.44. Further, an Excess Kurtosis of 20.24 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -7.39%	21	0.61%	0.61%
-7.39% to -5.52%	28	0.81%	1.42%
-5.52% to -3.64%	119	3.44%	4.86%
-3.64% to -1.76%	342	9.89%	14.75%
-1.76% to 0.11%	1242	35.92%	50.67%
0.11% to 1.99%	1192	34.47%	85.14%
1.99% to 3.87%	373	10.79%	95.92%
3.87% to 5.75%	90	2.60%	98.53%
5.75% to 7.62%	26	0.75%	99.28%
Greater than 7.62%	25	0.72%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-2.39%	2.62%	80.94%	68.27%
±2σ	-4.89%	5.12%	95.81%	95.45%
±3σ	-7.40%	7.62%	98.67%	99.73%

Descriptive Statistics

Mean	0.114%
Standard Error	0.043%
Median	0.095%
Mode	0.000%
Standard Deviation	2.503%
Sample Variance	6.263%
Kurtosis	20.24
Skewness	0.44
Range	56.001%
Minimum	-26.390%
Maximum	29.611%
Count	3458

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.668%	1805	52.20%	0.871%
Negative	-1.595%	1641	47.45%	-0.757%
Zero	0.000%	12	0.35%	0.000%

Average True Range Percentage (ATRP)

Trading Days	Horizon	Average Daily True Range %
5	1 Week	2.58%
20	1 Month	3.38%
60	1 Quarter	2.85%
250	1 Year	3.03%
750	3 Years	2.90%
1,250	5 Years	3.21%
2,500	10 Years	2.84%
5,000	20 Years	2.94%
12,500	50 Years	2.94%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 2.24. Further, an Excess Kurtosis of 10.07 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -1.96%	0	0.00%	0.00%
-1.96% to -0.80%	0	0.00%	0.00%
-0.80% to 0.37%	0	0.00%	0.00%
0.37% to 1.53%	685	19.80%	19.80%
1.53% to 2.69%	1443	41.72%	61.52%
2.69% to 3.86%	760	21.97%	83.49%
3.86% to 5.02%	318	9.19%	92.69%
5.02% to 6.18%	136	3.93%	96.62%
6.18% to 7.35%	60	1.73%	98.35%
Greater than 7.35%	57	1.65%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	1.14%	4.25%	79.04%	68.27%
±2σ	-0.41%	5.80%	95.92%	95.45%
±3σ	-1.96%	7.35%	98.35%	99.73%

Descriptive Statistics

Mean	2.694%
Standard Error	0.026%
Median	2.340%
Mode	2.173%
Standard Deviation	1.551%
Sample Variance	2.406%
Kurtosis	10.07
Skewness	2.24
Range	18.049%
Minimum	0.372%
Maximum	18.421%
Count	3459

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.694%	3459	100.00%	2.694%
Negative	0.000%	0	0.00%	0.000%
Zero	0.000%	0	0.00%	0.000%

Open-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.16. Further, an Excess Kurtosis of 2.91 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -5.42%	16	0.46%	0.46%
-5.42% to -4.06%	42	1.21%	1.68%
-4.06% to -2.70%	120	3.47%	5.15%
-2.70% to -1.35%	496	14.34%	19.49%
-1.35% to 0.01%	1091	31.54%	51.03%
0.01% to 1.36%	1050	30.36%	81.38%
1.36% to 2.72%	425	12.29%	93.67%
2.72% to 4.08%	145	4.19%	97.86%
4.08% to 5.43%	44	1.27%	99.13%
Greater than 5.43%	30	0.87%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-1.80%	1.82%	74.96%	68.27%
±2σ	-3.61%	3.62%	94.77%	95.45%
±3σ	-5.42%	5.43%	98.70%	99.73%

Descriptive Statistics

Mean	0.008%
Standard Error	0.031%
Median	-0.028%
Mode	0.000%
Standard Deviation	1.808%
Sample Variance	3.270%
Kurtosis	2.91
Skewness	0.16
Range	23.052%
Minimum	-13.060%
Maximum	9.992%
Count	3459

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.357%	1698	49.09%	0.666%
Negative	-1.297%	1755	50.74%	-0.658%
Zero	0.000%	6	0.17%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.08. Further, an Excess Kurtosis of 5.96 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -15.59%	5	0.70%	0.70%
-15.59% to -11.55%	9	1.25%	1.95%
-11.55% to -7.51%	16	2.23%	4.18%
-7.51% to -3.48%	96	13.37%	17.55%
-3.48% to 0.56%	236	32.87%	50.42%
0.56% to 4.60%	240	33.43%	83.84%
4.60% to 8.63%	79	11.00%	94.85%
8.63% to 12.67%	21	2.92%	97.77%
12.67% to 16.70%	12	1.67%	99.44%
Greater than 16.70%	4	0.56%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-4.82%	5.94%	78.41%	68.27%
±2σ	-10.21%	11.32%	94.99%	95.45%
±3σ	-15.59%	16.71%	98.75%	99.73%

Descriptive Statistics

Mean	0.559%
Standard Error	0.201%
Median	0.530%
Mode	-0.900%
Standard Deviation	5.382%
Sample Variance	28.967%
Kurtosis	5.96
Skewness	0.08
Range	64.211%
Minimum	-28.203%
Maximum	36.008%
Count	718

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	3.888%	403	56.13%	2.182%
Negative	-3.700%	315	43.87%	-1.623%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Weeks	Horizon	Average Weekly True Range %
4	1 Month	8.51%
12	1 Quarter	6.97%
52	1 Year	7.20%
156	3 Years	7.00%
260	5 Years	7.78%
520	10 Years	6.83%
1,040	20 Years	7.14%
2,600	50 Years	7.14%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 3.11. Further, an Excess Kurtosis of 15.38 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -8.23%	0	0.00%	0.00%
-8.23% to -4.31%	0	0.00%	0.00%
-4.31% to -0.38%	0	0.00%	0.00%
-0.38% to 3.54%	110	15.30%	15.30%
3.54% to 7.46%	343	47.71%	63.00%
7.46% to 11.39%	168	23.37%	86.37%
11.39% to 15.31%	61	8.48%	94.85%
15.31% to 19.23%	11	1.53%	96.38%
19.23% to 23.16%	12	1.67%	98.05%
Greater than 23.16%	14	1.95%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	2.23%	12.69%	88.18%	68.27%
±2σ	-3.00%	17.93%	95.97%	95.45%
±3σ	-8.23%	23.16%	98.05%	99.73%

Descriptive Statistics

Mean	7.463%
Standard Error	0.195%
Median	6.189%
Mode	4.188%
Standard Deviation	5.231%
Sample Variance	27.364%
Kurtosis	15.38
Skewness	3.11
Range	48.139%
Minimum	1.267%
Maximum	49.406%
Count	719

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	7.463%	719	100.00%	7.463%
Negative	0.000%	0	0.00%	0.000%
Zero	0.000%	0	0.00%	0.000%

Open-to-Close Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.44. Further, an Excess Kurtosis of 9.99 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -16.74%	2	0.28%	0.28%
-16.74% to -12.59%	4	0.56%	0.83%
-12.59% to -8.43%	18	2.50%	3.34%
-8.43% to -4.28%	95	13.21%	16.55%
-4.28% to -0.13%	267	37.13%	53.69%
-0.13% to 4.02%	213	29.62%	83.31%
4.02% to 8.17%	89	12.38%	95.69%
8.17% to 12.32%	14	1.95%	97.64%
12.32% to 16.47%	8	1.11%	98.75%
Greater than 16.47%	9	1.25%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-5.67%	5.40%	79.00%	68.27%
±2σ	-11.20%	10.94%	95.41%	95.45%
±3σ	-16.74%	16.47%	98.47%	99.73%

Descriptive Statistics

Mean	-0.132%
Standard Error	0.206%
Median	-0.447%
Mode	-3.698%
Standard Deviation	5.535%
Sample Variance	30.636%
Kurtosis	9.99
Skewness	1.44
Range	66.823%
Minimum	-26.334%
Maximum	40.489%
Count	719

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.112%	318	44.23%	1.819%
Negative	-3.506%	400	55.63%	-1.950%
Zero	0.000%	1	0.14%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.24. Further, an Excess Kurtosis of 2.47 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -30.22%	2	1.21%	1.21%
-30.22% to -22.04%	1	0.61%	1.82%
-22.04% to -13.87%	3	1.82%	3.64%
-13.87% to -5.69%	24	14.55%	18.18%
-5.69% to 2.48%	62	37.58%	55.76%
2.48% to 10.66%	45	27.27%	83.03%
10.66% to 18.83%	18	10.91%	93.94%
18.83% to 27.01%	7	4.24%	98.18%
27.01% to 35.18%	2	1.21%	99.39%
Greater than 35.18%	1	0.61%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-8.42%	13.38%	74.55%	68.27%
±2σ	-19.32%	24.28%	95.15%	95.45%
±3σ	-30.22%	35.18%	98.18%	99.73%

Descriptive Statistics

Mean	2.482%
Standard Error	0.849%
Median	1.790%
Mode	-32.634%
Standard Deviation	10.900%
Sample Variance	118.810%
Kurtosis	2.47
Skewness	0.24
Range	80.544%
Minimum	-32.634%
Maximum	47.910%
Count	165

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	8.645%	101	61.21%	5.292%
Negative	-7.244%	64	38.79%	-2.810%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Months	Horizon	Average Monthly True Range %
3	1 Quarter	15.42%
12	1 Year	14.89%
36	3 Years	15.31%
60	5 Years	17.19%
120	10 Years	15.08%
240	20 Years	15.87%
600	50 Years	15.87%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 2.13. Further, an Excess Kurtosis of 6.19 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -16.17%	0	0.00%	0.00%
-16.17% to -7.69%	0	0.00%	0.00%
-7.69% to 0.79%	0	0.00%	0.00%
0.79% to 9.26%	32	19.28%	19.28%
9.26% to 17.74%	69	41.57%	60.84%
17.74% to 26.22%	42	25.30%	86.14%
26.22% to 34.70%	12	7.23%	93.37%
34.70% to 43.17%	4	2.41%	95.78%
43.17% to 51.65%	2	1.20%	96.99%
Greater than 51.65%	5	3.01%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	6.44%	29.05%	83.13%	68.27%
±2σ	-4.87%	40.35%	95.78%	95.45%
±3σ	-16.17%	51.65%	96.99%	99.73%

Descriptive Statistics

Mean	17.741%
Standard Error	0.877%
Median	15.398%
Mode	3.817%
Standard Deviation	11.304%
Sample Variance	127.785%
Kurtosis	6.19
Skewness	2.13
Range	68.615%
Minimum	3.817%
Maximum	72.432%
Count	166

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	17.741%	166	100.00%	17.741%
Negative	0.000%	0	0.00%	0.000%
Zero	0.000%	0	0.00%	0.000%

Open-to-Close Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.38. Further, an Excess Kurtosis of 5.01 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -35.40%	0	0.00%	0.00%
-35.40% to -26.75%	1	0.60%	0.60%
-26.75% to -18.10%	5	3.01%	3.61%
-18.10% to -9.45%	24	14.46%	18.07%
-9.45% to -0.80%	61	36.75%	54.82%
-0.80% to 7.86%	50	30.12%	84.94%
7.86% to 16.51%	17	10.24%	95.18%
16.51% to 25.16%	4	2.41%	97.59%
25.16% to 33.81%	0	0.00%	97.59%
Greater than 33.81%	4	2.41%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-12.33%	10.74%	77.11%	68.27%
±2σ	-23.87%	22.27%	96.39%	95.45%
±3σ	-35.40%	33.81%	97.59%	99.73%

Descriptive Statistics

Mean	-0.795%
Standard Error	0.895%
Median	-1.309%
Mode	-32.147%
Standard Deviation	11.535%
Sample Variance	133.045%
Kurtosis	5.01
Skewness	1.38
Range	81.206%
Minimum	-32.147%
Maximum	49.059%
Count	166

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	8.697%	69	41.57%	3.615%
Negative	-7.547%	97	58.43%	-4.410%
Zero	0.000%	0	0.00%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.36. Further, an Excess Kurtosis of 1.06 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -51.67%	0	0.00%	0.00%
-51.67% to -36.69%	1	1.82%	1.82%
-36.69% to -21.72%	1	1.82%	3.64%
-21.72% to -6.74%	8	14.55%	18.18%
-6.74% to 8.24%	20	36.36%	54.55%
8.24% to 23.22%	14	25.45%	80.00%
23.22% to 38.20%	7	12.73%	92.73%
38.20% to 53.18%	2	3.64%	96.36%
53.18% to 68.15%	2	3.64%	100.00%
Greater than 68.15%	0	0.00%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-11.73%	28.21%	74.55%	68.27%
±2σ	-31.70%	48.18%	92.73%	95.45%
±3σ	-51.67%	68.15%	100.00%	99.73%

Descriptive Statistics

Mean	8.241%
Standard Error	2.693%
Median	5.409%
Mode	-41.446%
Standard Deviation	19.971%
Sample Variance	398.836%
Kurtosis	1.06
Skewness	0.36
Range	102.767%
Minimum	-41.446%
Maximum	61.321%
Count	55

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	17.244%	38	69.09%	11.914%
Negative	-11.884%	17	30.91%	-3.673%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Quarters	Horizon	Average Quarterly True Range %
4	1 Year	24.37%
12	3 Years	29.13%
20	5 Years	34.55%
40	10 Years	28.24%
80	20 Years	29.20%
200	50 Years	29.20%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.65. Further, an Excess Kurtosis of 2.63 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -29.98%	0	0.00%	0.00%
-29.98% to -13.64%	0	0.00%	0.00%
-13.64% to 2.69%	0	0.00%	0.00%
2.69% to 19.03%	12	21.43%	21.43%
19.03% to 35.37%	25	44.64%	66.07%
35.37% to 51.71%	9	16.07%	82.14%
51.71% to 68.04%	4	7.14%	89.29%
68.04% to 84.38%	3	5.36%	94.64%
84.38% to 100.72%	2	3.57%	98.21%
Greater than 100.72%	1	1.79%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	13.59%	57.15%	78.57%	68.27%
±2σ	-8.20%	78.94%	94.64%	95.45%
±3σ	-29.98%	100.72%	98.21%	99.73%

Descriptive Statistics

Mean	35.370%
Standard Error	2.911%
Median	29.347%
Mode	9.363%
Standard Deviation	21.783%
Sample Variance	474.494%
Kurtosis	2.63
Skewness	1.65
Range	98.874%
Minimum	9.363%
Maximum	108.237%
Count	56

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	35.370%	56	100.00%	35.370%
Negative	0.000%	0	0.00%	0.000%
Zero	0.000%	0	0.00%	0.000%

Open-to-Close Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 2.05. Further, an Excess Kurtosis of 6.38 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -70.80%	0	0.00%	0.00%
-70.80% to -53.64%	0	0.00%	0.00%
-53.64% to -36.48%	2	3.57%	3.57%
-36.48% to -19.32%	8	14.29%	17.86%
-19.32% to -2.17%	24	42.86%	60.71%
-2.17% to 14.99%	16	28.57%	89.29%
14.99% to 32.15%	3	5.36%	94.64%
32.15% to 49.31%	0	0.00%	94.64%
49.31% to 66.47%	1	1.79%	96.43%
Greater than 66.47%	2	3.57%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-25.04%	20.71%	82.14%	68.27%
±2σ	-47.92%	43.59%	94.64%	95.45%
±3σ	-70.80%	66.47%	96.43%	99.73%

Descriptive Statistics

Mean	-2.165%
Standard Error	3.057%
Median	-4.723%
Mode	-38.403%
Standard Deviation	22.879%
Sample Variance	523.443%
Kurtosis	6.38
Skewness	2.05
Range	132.093%
Minimum	-38.403%
Maximum	93.690%
Count	56

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	19.119%	19	33.93%	6.487%
Negative	-13.094%	37	66.07%	-8.651%
Zero	0.000%	0	0.00%	0.000%

META Deep Analytical Report