State Street SPDR Russell 1000 Yield Focus ETF (ONEY) Expected Move

Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.

State Street SPDR Russell 1000 Yield Focus ETF (ONEY) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $851.5M, listed on AMEX, carrying a beta of 0.82 to the broader market. The State Street SPDR Russell 1000 Yield Focus ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Russell 1000 Yield Focused Factor Index (the "Index")Seek to harness the full power of factor investing to meet specific investor objectives and address some of the main motivations for using smart beta: in the case of ONEY, income generation (yield)The focus on income potentially enables the collection of above average dividend payments to boost total returns and provide a diversified source of incomeMulti-factor smart beta strategies can bridge the gap between active and passive management, providing an opportunity for investors to rethink exposures and potentially maximize risk-adjusted returns more efficiently public since 2015-12-03.

Snapshot as of May 15, 2026.

Spot Price

$124.06

Expected Move

5.9%

Implied High

$131.39

Implied Low

$116.73

Front DTE

34 days

As of May 15, 2026, State Street SPDR Russell 1000 Yield Focus ETF (ONEY) has an expected move of 5.91%, a one-standard-deviation implied price range of roughly $116.73 to $131.39 from the current $124.06. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.

ONEY Strategy Sizing to the Expected Move

With State Street SPDR Russell 1000 Yield Focus ETF pricing an expected move of 5.91% from $124.06, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.

Learn how expected move is reported and how to read the data →

Per-expiration expected move for ONEY derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $124.06 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.

Frequently asked ONEY expected move questions

What is the current ONEY expected move?

As of May 15, 2026, State Street SPDR Russell 1000 Yield Focus ETF (ONEY) has an expected move of 5.91% over the next 34 days, implying a one-standard-deviation price range of $116.73 to $131.39 from the current $124.06. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.

What does the ONEY expected move mean for traders?

Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.

How is ONEY expected move calculated?

The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.