CVLT
Commvault Systems, Inc.
NasdaqGSUSDEQUITY
Technology
DELAYED
Strong buy
+59/100
Last price
154.98
▲ 1.25 (0.81%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
Lower pane
Overlay another symbol
Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
154.49
Prev close
153.73
Day high
158.29
Day low
153.79
Volume
418.35K
Market cap
$6.42B
P/E (TTM)
98.71
52W range
71.75 – 178.93
Day trading desk
Gap from prior close
+0.49%
Prior close 153.73
VWAP
155.45
-0.30% from price
Relative volume
0.57×
Quiet session
Session range
2.92%
153.79 – 158.29
Position in range
26%
Near session low
ATR (14D)
5.72
3.69% of price
Prior day high
154.35
PDH
Prior day low
149.39
PDL
Bid / ask spread
—
Quote not published
Session volume
344.18K
Avg 601.48K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
+5.90%
+3.9%
1M
+13.61%
+12.5%
3M
+5.49%
+1.0%
6M
+95.68%
+77.5%
YTD
+23.63%
+9.4%
1Y
-14.04%
-30.5%
3Y
+129.23%
+47.0%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
11 more panels on CVLT open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+203.85K
Net buying
Buy transactions
20
300.02K shares
Sell transactions
17
96.17K shares
Net transactions
+37
Buys less sells
Sell : buy shares
0.3 : 1
Mixed
Insider-held shares
365.95K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 11, 26 | ADAMO NICOLA Director |
SELL | 1.53K | $201.44K | Direct |
| Aug 31, 26 | MIRCHANDANI SANJAY Chief Executive Officer |
STOCK | 37.37K | $0 | Indirect |
| Aug 19, 26 | MIRCHANDANI SANJAY Chief Executive Officer |
SELL | 24.13K | $3.47M | Direct |
| Aug 19, 26 | ABRAHAMSEN DANIELLE NICOLE Officer |
SELL | 996 | $142.70K | Direct |
| Aug 19, 26 | MERRILL GARY D Chief Financial Officer |
SELL | 3.15K | $450.95K | Direct |
| Aug 10, 26 | LEE VIVIE Director |
SELL | 595 | $79.84K | Direct |
| Aug 10, 26 | SANDERS A.SHANE Director |
SELL | 476 | $63.87K | Direct |
| Aug 10, 26 | HAYDON WILLIAM GEOFFREY Officer |
SELL | 316 | $42.59K | Direct |
| Aug 6, 26 | ADAMO NICOLA Director |
STOCK | 1.76K | $0 | Direct |
| Aug 6, 26 | LEE VIVIE Director |
STOCK | 1.76K | $0 | Direct |
| Aug 6, 26 | BEJAR MARTHA HELENA Director |
STOCK | 1.76K | $0 | Direct |
| Aug 6, 26 | SANDERS A.SHANE Director |
STOCK | 1.76K | $0 | Direct |
| Aug 6, 26 | GEESLIN KEITH B Director |
STOCK | 1.76K | $0 | Direct |
| Aug 6, 26 | MORAN CHARLES E Director |
STOCK | 1.76K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ABRAHAMSEN DANIELLE NICOLE |
Officer | 12.16K | Sale |
ADAMO NICOLA |
Director | 17.60K | Sale |
DIRICO JENNIFER LEIGH |
Chief Financial Officer | 44.31K | Sale |
GEESLIN KEITH B |
Director | 35.94K | Stock Award(Grant) |
HAYDON WILLIAM GEOFFREY |
Officer | 65.25K | Sale |
LEE VIVIE |
Director | 15.14K | Sale |
MERRILL GARY D |
Chief Financial Officer | 69.63K | Sale |
MIRCHANDANI SANJAY |
Chief Executive Officer | — | Stock Gift |
MORAN CHARLES E |
Director | 15.45K | Stock Award(Grant) |
SHENKMAN ARLEN |
Director | 16.81K | Stock Award(Grant) |
Fundamentals
Market cap$6.42B
Enterprise value$6.41B
Revenue (TTM)$1.22B
Gross profit$985.89M
EBITDA$122.06M
Net income$68.30M
EPS (TTM)$1.57
Free cash flow$303.74M
Total cash$929.84M
Total debt$917.65M
Book value / share$1.26
Shares outstanding41.44M
Float40.82M
Short % of float9.55%
Dividend yield0.00%
Beta (5Y)0.79
Valuation & profitability ratios
Trailing P/E98.71
Forward P/E24.99
PEG ratio3.17
Price / sales—
Price / book123.39
EV / revenue5.27
EV / EBITDA52.52
Gross margin81.09%
Operating margin8.95%
Profit margin5.62%
Return on equity32.77%
Return on assets4.57%
Debt / equity1,762.99
Current ratio2.04
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2026 | 2025 | 2024 | 2023 | YoY |
|---|---|---|---|---|---|
| Total revenue | $1.18B | $995.62M | $839.25M | $784.59M | +18.9% |
| Operating revenue | $1.13B | $952.87M | $794.55M | $737.01M | +18.8% |
| Cost of revenue | $223.12M | $179.03M | $151.61M | $135.40M | +24.6% |
| Gross profit | $960.57M | $816.58M | $687.64M | $649.19M | +17.6% |
| Research & development | $162.21M | $146.29M | $132.33M | $141.85M | +10.9% |
| Selling, general & admin | $682.41M | $572.49M | $468.99M | $445.02M | +19.2% |
| Total operating expense | $854.97M | $727.85M | $607.73M | $596.14M | +17.5% |
| Operating income | $105.60M | $88.73M | $79.90M | $53.05M | +19.0% |
| Net interest income | $18.02M | $6.24M | $5.01M | $828.00K | +188.8% |
| Pre-tax income | $92.12M | $81.05M | $83.61M | -$15.36M | +13.7% |
| Tax provision | $21.47M | $4.95M | -$85.29M | $20.41M | +333.9% |
| Net income | $70.66M | $76.11M | $168.91M | -$35.77M | -7.2% |
| Net income to common | $70.66M | $76.11M | $168.91M | -$35.77M | -7.2% |
| Basic EPS | 1.61 | 1.74 | 3.85 | -0.80 | -7.5% |
| Diluted EPS | 1.58 | 1.68 | 3.75 | -0.80 | -6.0% |
| EBIT | $95.92M | $81.47M | $84.03M | -$14.89M | +17.7% |
| EBITDA | $106.27M | $90.54M | $90.44M | -$4.57M | +17.4% |
| Basic shares | 43.98M | 43.85M | 43.88M | 44.66M | +0.3% |
| Diluted shares | 44.65M | 45.19M | 45.10M | 44.66M | -1.2% |
| Line item | 2026 | 2025 | 2024 | 2023 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $899.99M | $302.10M | $312.75M | $287.78M | +197.9% |
| Cash & short-term investments | $899.99M | $302.10M | $312.75M | $287.78M | +197.9% |
| Accounts receivable | $330.48M | $252.00M | $222.68M | $210.44M | +31.1% |
| Total current assets | $1.29B | $635.06M | $595.13M | $550.91M | +102.6% |
| Property, plant & equipment | $44.67M | $18.42M | $18.51M | $20.07M | +142.5% |
| Goodwill & intangibles | $229.04M | $205.99M | $128.82M | $130.07M | +11.2% |
| Total assets | $1.89B | $1.12B | $943.91M | $782.57M | +68.7% |
| Total current liabilities | $658.17M | $555.05M | $484.93M | $410.08M | +18.6% |
| Long-term debt | $880.86M | — | — | — | — |
| Total debt | $917.50M | $10.95M | $12.09M | $12.78M | +8,277.5% |
| Total liabilities | $1.88B | $793.14M | $665.83M | $596.48M | +136.9% |
| Retained earnings | -$1.47B | -$1.13B | -$1.06B | -$1.06B | -29.8% |
| Shareholder equity | $7.49M | $325.12M | $278.08M | $186.10M | -97.7% |
| Working capital | $628.34M | $80.01M | $110.20M | $140.84M | +685.4% |
| Net tangible assets | -$221.54M | $119.13M | $149.26M | $56.03M | -286.0% |
| Shares issued | 41.26M | 44.10M | 43.55M | 44.14M | -6.5% |
| Line item | 2026 | 2025 | 2024 | 2023 | YoY |
|---|---|---|---|---|---|
| Net income | $70.66M | $76.11M | $168.91M | -$35.77M | -7.2% |
| Depreciation & amortisation | $10.35M | $9.07M | $6.42M | $10.32M | +14.1% |
| Stock-based compensation | $123.42M | $113.26M | $94.55M | $105.75M | +9.0% |
| Change in working capital | -$27.51M | -$12.13M | $10.18M | $9.08M | -126.8% |
| Operating cash flow | $244.68M | $207.38M | $203.80M | $170.29M | +18.0% |
| Capital expenditure | -$7.53M | -$3.76M | -$4.09M | -$3.24M | -100.5% |
| Investing cash flow | -$5.45M | -$70.40M | -$5.52M | -$5.29M | +92.3% |
| Share buybacks | -$545.74M | -$165.01M | -$184.02M | -$150.92M | -230.7% |
| Financing cash flow | $345.30M | -$147.82M | -$170.58M | -$135.58M | +333.6% |
| Free cash flow | $237.15M | $203.63M | $199.71M | $167.05M | +16.5% |
| End cash position | $899.99M | $302.10M | $312.75M | $287.78M | +197.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $314.13M | $311.69M | $313.83M | $276.19M | $281.98M | +0.8% |
| Operating revenue | $301.20M | $298.62M | $300.27M | $264.97M | $268.08M | +0.9% |
| Cost of revenue | $57.61M | $58.00M | $59.30M | $55.04M | $50.78M | -0.7% |
| Gross profit | $256.52M | $253.69M | $254.54M | $221.14M | $231.20M | +1.1% |
| Research & development | $39.54M | $40.06M | $42.23M | $39.86M | $40.06M | -1.3% |
| Selling, general & admin | $186.55M | $175.82M | $178.05M | $164.79M | $163.75M | +6.1% |
| Total operating expense | $228.41M | $218.45M | $222.88M | $207.22M | $206.42M | +4.6% |
| Operating income | $28.11M | $35.24M | $31.66M | $13.92M | $24.78M | -20.2% |
| Net interest income | $6.21M | $6.88M | $6.95M | $2.45M | $1.73M | -9.7% |
| Pre-tax income | $32.20M | $23.12M | $27.02M | $15.10M | $26.88M | +39.3% |
| Tax provision | $11.06M | $8.47M | $9.24M | $370.00K | $3.39M | +30.6% |
| Net income | $21.14M | $14.65M | $17.78M | $14.73M | $23.50M | +44.3% |
| Net income to common | $21.14M | $14.65M | $17.78M | $14.73M | $23.50M | +44.3% |
| Basic EPS | 0.51 | 0.34 | 0.40 | 0.33 | 0.53 | +50.0% |
| Diluted EPS | 0.50 | 0.34 | 0.40 | 0.33 | 0.52 | +47.1% |
| EBIT | $33.67M | $24.55M | $28.47M | $15.74M | $27.16M | +37.2% |
| EBITDA | $35.99M | $27.11M | $32.26M | $18.80M | $29.77M | +32.8% |
| Basic shares | 41.34M | 43.05M | 44.11M | 44.41M | 44.33M | -4.0% |
| Diluted shares | 41.87M | 43.26M | 44.61M | 45.20M | 45.28M | -3.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $929.84M | $899.99M | $1.03B | $1.06B | $363.23M | +3.3% |
| Cash & short-term investments | $929.84M | $899.99M | $1.03B | $1.06B | $363.23M | +3.3% |
| Accounts receivable | $271.57M | $330.48M | $361.85M | $234.81M | $255.45M | -17.8% |
| Total current assets | $1.27B | $1.29B | $1.45B | $1.35B | $667.13M | -1.5% |
| Property, plant & equipment | $43.66M | $44.67M | $48.91M | $38.69M | $38.85M | -2.3% |
| Goodwill & intangibles | $227.59M | $229.04M | $231.81M | $232.54M | $204.92M | -0.6% |
| Total assets | $1.89B | $1.89B | $2.04B | $1.92B | $1.18B | +0.2% |
| Total current liabilities | $620.03M | $658.17M | $616.63M | $535.32M | $535.98M | -5.8% |
| Long-term debt | $881.93M | $880.86M | $879.83M | $878.93M | — | +0.1% |
| Total debt | $917.65M | $917.50M | $918.64M | $908.49M | $29.62M | +0.0% |
| Total liabilities | $1.84B | $1.88B | $1.82B | $1.71B | $811.70M | -2.2% |
| Retained earnings | -$1.46B | -$1.47B | -$1.25B | -$1.23B | -$1.12B | +0.8% |
| Shareholder equity | $52.05M | $7.49M | $216.73M | $210.46M | $364.74M | +594.6% |
| Working capital | $646.90M | $628.34M | $828.43M | $817.65M | $131.15M | +3.0% |
| Net tangible assets | -$175.54M | -$221.54M | -$15.08M | -$22.08M | $159.82M | +20.8% |
| Shares issued | 41.43M | 41.26M | 44.03M | 44.05M | 44.51M | +0.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $21.14M | $14.65M | $17.78M | $14.73M | $23.50M | +44.3% |
| Depreciation & amortisation | $2.32M | $893.00K | $3.78M | $3.07M | $2.61M | +159.7% |
| Stock-based compensation | $35.29M | $31.96M | $29.06M | $32.22M | $30.18M | +10.4% |
| Change in working capital | -$27.52M | $66.68M | -$61.39M | $8.31M | -$41.11M | -141.3% |
| Operating cash flow | $51.67M | $132.19M | $4.04M | $76.77M | $31.68M | -60.9% |
| Capital expenditure | -$569.00K | -$344.00K | -$2.12M | -$3.19M | -$1.88M | -65.4% |
| Investing cash flow | -$8.46M | -$313.00K | -$2.27M | -$29.68M | $26.83M | -2,604.2% |
| Share buybacks | -$10.13M | -$358.92M | -$40.74M | -$131.02M | -$15.05M | +97.2% |
| Financing cash flow | -$10.21M | -$251.78M | -$41.92M | $655.91M | -$16.91M | +95.9% |
| Free cash flow | $51.10M | $131.84M | $1.93M | $73.58M | $29.80M | -61.2% |
| End cash position | $929.84M | $899.99M | $1.03B | $1.06B | $363.23M | +3.3% |
Options analytics
Put / call volume
0.07
Call-heavy session
Put / call open interest
1.07
Positioning, not flow
Max pain
97.50
-37.1% from spot
ATM implied vol
0.0%
Nearest strike to spot
Skew (10% OTM)
0.0%
Calls bid over puts
Call volume
1.24K
Contracts, this expiry
Put volume
81
Contracts, this expiry
Heaviest call OI
97.50
14 contracts
Heaviest put OI
160.00
9 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 1.16 | 1.42 | +22.2% |
| Mar 2026 | 1.09 | 1.28 | +17.7% |
| Dec 2025 | 0.98 | 1.17 | +19.2% |
| Sep 2025 | 0.94 | 0.91 | -3.3% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 1.24 | 18 | $310.22M | +12.3% |
| Next quarter | 1.38 | 18 | $339.03M | +8.0% |
| Current year | 5.46 | 19 | $1.31B | +10.3% |
| Next year | 6.20 | 19 | $1.45B | +11.3% |
Analyst targets & ownership
Mean target$162.32
High target$200.00
Low target$130.00
Implied upside4.73%
Analyst count17
ConsensusBUY
Strong buy / Buy0 / 11
Hold8
Sell / Strong sell0 / 0
Held by insiders0.88%
Held by institutions110.97%
Institutions holding589
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
149.61
+3.59% from price
SMA 20
145.18
+6.75% from price
SMA 50
138.48
+11.91% from price
SMA 100
134.39
+15.33% from price
SMA 200
115.84
+33.79% from price
EMA 12
148.92
+4.07% from price
EMA 26
144.97
+6.91% from price
EMA 50
140.85
+10.03% from price
RSI (14)
64.0
Neutral
MACD (12,26,9)
3.95
Hist 0.71
ATR (14)
5.72
3.69% of price
Realised vol 30D
41.5%
Annualised
Bollinger upper
158.71
20, 2σ
Bollinger lower
131.64
20, 2σ
50 / 200 cross
Golden
138.48 vs 115.84
Trend bias
Above 200
+33.79%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.97
Less volatile than market
Correlation to SPY
0.22
Largely independent
Realised vol 30D
41.5%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-57.8%
Peak to trough
Max drawdown 5Y
-61.5%
Peak to trough
ATR 14
5.72
3.69% of price
Beta (reported)
0.79
5Y monthly, from filing
Short interest
Shares short
3.38M
Prior 3.21M
Change vs prior
+5.2%
Shorts adding
% of float
9.55%
Normal
% of shares out
8.14%
Against total outstanding
Days to cover
6.8
Crowded exit
Float
40.82M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Oct 5, 26 | Scotiabank | MAINTAINED | Sector Perform | Sector Perform |
| Jul 21, 26 | Truist Securities | MAINTAINED | Buy | Buy |
| Jul 17, 26 | Oppenheimer | MAINTAINED | Outperform | Outperform |
| Jul 16, 26 | Keybanc | MAINTAINED | Overweight | Overweight |
| Jul 15, 26 | Mizuho | MAINTAINED | Outperform | Outperform |
| Jun 16, 26 | Stephens & Co. | MAINTAINED | Overweight | Overweight |
| Jun 10, 26 | Mizuho | MAINTAINED | Outperform | Outperform |
| May 1, 26 | Wolfe Research | INITIATED | — | Peer Perform |
| Apr 29, 26 | RBC Capital | MAINTAINED | Sector Perform | Sector Perform |
| Apr 29, 26 | Scotiabank | MAINTAINED | Sector Perform | Sector Perform |
| Apr 29, 26 | Keybanc | MAINTAINED | Overweight | Overweight |
| Apr 27, 26 | Jefferies | INITIATED | — | Hold |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay date—
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-09-24
Offering Registrations
S-8 · 2026-08-06
Periodic Financial Reports
10-Q · 2026-07-29
Corporate Changes & Voting Matters
8-K · 2026-07-28
Proxy Statements
DEF 14A · 2026-06-24
Periodic Financial Reports
10-K · 2026-05-11
Corporate Changes & Voting Matters
8-K · 2026-04-28
Corporate Changes & Voting Matters
8-K · 2026-04-13
Headlines
Commvault Announces Second Quarter Fiscal Year 2027 Earnings Release Date
PR Newswire · 16h ago
Commvault Systems (CVLT) Exceeds Market Returns: Some Facts to Consider
Zacks · 1d ago
1 Surging Stock to Target This Week and 2 We Ignore
StockStory · 2d ago
Commvault Systems (CVLT) Expands AI Protection As Its Valuation Narrative Faces A Fresh Test
Simply Wall St. · 4d ago
Brokers Suggest Investing in Commvault (CVLT): Read This Before Placing a Bet
Zacks · 5d ago
Commvault Achieves AWS Data Competency in Relational Databases Category
PR Newswire · 6d ago
Commvault Launches Recovery Tools for Anthropic AI Data
MT Newswires · 7d ago
Commvault Protects and Recovers Agent Configurations and AI Data that Employees Can't Afford to Lose on Their Laptops
PR Newswire · 7d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.