TENM - iShares Large Cap 10% Target Buffer Mar ETF
TENM utilizes a defined outcome strategy on the iShares Core S&P 500 ETF (IVV). The fund aims to provide long exposure to US large-cap stocks, up to an approximate upside limit, while hedging the first 10% of losses over a defined 12-month Outcome Period. It does this by holding IVV shares and employing a combination of put options to create the loss buffer and call options to generate income that funds this protection but caps gains.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $47.0M
- Beta
- 0.52
- 52-Week Range
- 24.68-28.01
- Dividend Yield
- $0.07
- IPO Date
- Oct 23, 2025
- Exchange
- CBOE
TENM Options Snapshot
Options pricing data for TENM 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 TENM 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.
TENM fund facts: expense ratio 0.53%, assets under management $47.0M, NAV $28.00 as of the data source's update on Oct 7, 2026, launched Oct 21, 2025, issued by IShares. See the TENM holdings.
Frequently asked TENM overview questions
- What is TENM?
- TENM is the ticker symbol for iShares Large Cap 10% Target Buffer Mar ETF, an listed exchange-traded fund. TENM utilizes a defined outcome strategy on the iShares Core S&P 500 ETF (IVV). The fund aims to provide long exposure to US large-cap stocks, up to an approximate upside limit, while hedging the first 10% of losses over a defined 12-month Outcome Period. Listed on CBOE. TENM 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 TENM's key statistics?
- iShares Large Cap 10% Target Buffer Mar ETF (TENM) carries a market capitalization of $47.0M, 52-week range of 24.68-28.01. 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 TENM belong to?
- iShares Large Cap 10% Target Buffer Mar 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 TENM'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 TENM data on this page?
- Options snapshots refresh after each trading session; if no snapshot is currently posted for TENM, 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.