PRAM Fail-to-Deliver

ETF Series Solutions - Defiance Memory & Photonics ETF (PRAM) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $227,399, listed on CBOE, carrying a beta of 0.00 to the broader market. PRAM focuses on AI demand by targeting its supply chain, including companies in the memory and photonics sectors. public since 2026-08-27.

Fail-to-deliver (FTD) data from the SEC tracks settlement failures where shares were not delivered within the standard settlement period. Persistent FTDs may indicate naked short selling or settlement issues and are monitored by regulators.

Latest Date

2026-09-10

Latest FTD Quantity

24

Latest Price

$25.71

30-Day Avg FTD

29.5K

30-Day Total FTD

265.3K

Showing 9 days of SEC fail-to-deliver data for ETF Series Solutions - Defiance Memory & Photonics ETF.

Learn how fails-to-deliver is reported and how to read the data →

Frequently asked PRAM fail to deliver questions

What is the latest PRAM fail-to-deliver count?

As of Sep 10, 2026, ETF Series Solutions - Defiance Memory & Photonics ETF (PRAM) fail-to-deliver quantity is 24 shares, with a 9-day average of 29.5K shares. The SEC publishes FTD data twice monthly: first-half data at month-end, second-half around the 15th of the following month.

What is the FTD aggregate net balance?

FTD figures represent the aggregate net balance in NSCC's Continuous Net Settlement (CNS) system, not the gross failed-share count. The published numbers run 2-6 weeks stale relative to the underlying settlement date.

How do PRAM FTDs affect options pricing?

Persistent FTDs flag hard-to-borrow conditions that distort put-call parity: in HTB names, synthetic long stock (long call + short put at the same strike) trades below the frictionless-parity price by approximately the borrow rebate. The discount equals the lending revenue forgone by holding the synthetic instead of actual shares. Reg SHO threshold-list inclusion follows from sustained FTD persistence.