PAPI - Parametric Equity Premium Income ETF
PAPI primarily invests in an equity portfolio of durable dividend payers selected from the Russell 3000 Index using a proprietary investment process that considers 12-month yield and risk level. The fund attempts to achieve broad diversification by weighting all sectors equally and then assigning equal weights to the top-ranking stocks within each sector. In an attempt to generate incremental income, PAPI systematically writes short-dated (2-week) out-of-the-money call options in tranches, with expirations staggered every 3 to 4 days.
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Market Cap
- $367.3M
- Beta
- 0.26
- 52-Week Range
- 24.75-28.535
- Dividend Yield
- $2.01
- IPO Date
- Oct 19, 2023
- Exchange
- AMEX
PAPI Options Snapshot
Options pricing data for PAPI is refreshed daily after the close. When listed contracts exist, this page surfaces the latest at-the-money implied volatility, max pain strike, dealer gamma exposure (GEX), and 25-delta skew. Listed contracts and live snapshots appear once the options chain has been published by the exchange for the most recent session.
What This Page Covers
The PAPI 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 PAPI overview questions
- What is PAPI?
- PAPI is the ticker symbol for Parametric Equity Premium Income ETF, an listed exchange-traded fund. PAPI primarily invests in an equity portfolio of durable dividend payers selected from the Russell 3000 Index using a proprietary investment process that considers 12-month yield and risk level. The fund attempts to achieve broad diversification by weighting all sectors equally and then assigning equal weights to the top-ranking stocks within each sector. Listed on AMEX. PAPI 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 are PAPI's key statistics?
- Parametric Equity Premium Income ETF (PAPI) carries a market capitalization of $367.3M, 52-week range of 24.75-28.535. 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 PAPI belong to?
- Parametric Equity Premium Income ETF operates in the Financial Services sector, in the Asset Management - Income 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 PAPI'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 PAPI data on this page?
- Options snapshots refresh after each trading session; if no snapshot is currently posted for PAPI, it usually reflects low options liquidity or a recently listed name. 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.