HEGD - Swan Hedged Equity US Large Cap ETF
HEGD seeks to invest in (one or more) ETFs that provide exposure to the US large-cap market, and hedges using put and call options as a defined risk strategy. The fund uses exchange-traded options on the S&P 500 Index. It invests in long-term put options for hedging purposes, and a combination of put and call options to increase income.
As of Jun 30, 2026: spot at $26.20, ATM IV 45.0%, max pain $27.00, net GEX $178.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $526.7M
- Beta
- 0.60
- 52-Week Range
- 23.09-27.185
- Dividend Yield
- $0.09
- IPO Date
- Dec 23, 2020
- Exchange
- CBOE
What HEGD Looks Like to Options Traders Today
IV rank of 7.2% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); positive net gamma exposure ($178) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (-0.024) prices puts richer than calls, the typical equity downside-protection skew.
What This Page Covers
The HEGD overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
Frequently asked HEGD overview questions
- What is HEGD?
- HEGD is the ticker symbol for Swan Hedged Equity US Large Cap ETF, an listed exchange-traded fund. HEGD seeks to invest in (one or more) ETFs that provide exposure to the US large-cap market, and hedges using put and call options as a defined risk strategy. The fund uses exchange-traded options on the S&P 500 Index. Listed on CBOE. HEGD is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What does the HEGD options snapshot look like today?
- As of Jun 30, 2026, the HEGD options snapshot shows spot at $26.20, ATM IV 45.0%, IV rank 7.2%, max pain $27.00, net GEX $178, expected move 12.90%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are HEGD's key statistics?
- Swan Hedged Equity US Large Cap ETF (HEGD) carries a market capitalization of $526.7M, 52-week range of 23.09-27.185. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does HEGD belong to?
- Swan Hedged Equity US Large Cap ETF operates in the Financial Services sector, in the Asset Management industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare HEGD's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the HEGD data on this page?
- The options snapshot above is dated Jun 30, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.