Invesco Preferred ETF (PGX) Expected Move

Tracking the PGX expected move helps you see how far Invesco Preferred ETF's options market is pricing the stock to travel over a given period — whether that's the next day, week, or earnings cycle. Invesco Preferred ETF's expected move is derived directly from option premiums and gives you an objective range to plan trades, set strikes, and manage risk. Use our scanner to monitor the PGX expected move for this week's options, in real time.

The expected move is typically calculated from at-the-money straddle prices (or a blend of straddles and strangles) and represents roughly a one-standard-deviation range over the chosen timeframe. For PGX, comparing the implied expected move to actual realized moves over similar windows tells you whether the options market has historically overestimated or underestimated volatility. The PGX expected move for this week's options pricing is especially useful for short-dated traders, earnings players, and anyone selling premium who needs to know where the market thinks Invesco Preferred ETF is unlikely to go.

The Invesco Preferred ETF (Fund) is based on the ICE BofAML Core Plus Fixed Rate Preferred Securities Index (Index). The Fund will normally invest at least 80% of its total assets in fixed rate US dollar-denominated preferred securities that comprise the Index. The Index tracks the performance of fixed rate US dollar-denominated preferred securities issued in the US domestic market. (Securities must be rated at least B3, based on an average of three leading ratings agencies: Moody’s, S&P and Fitch) and must have an investment-grade country risk profile (based on an average of Moody’s, S&P and Fitch foreign currency long-term sovereign debt ratings).

The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective. The Fund and the Index are rebalanced and reconstituted on a monthly basis.

Iron condors, weekly premium sales, directional swing trades — they all live or die by where the market thinks the stock won't go. Our scanner tracks the PGX expected move across every expiration, benchmarks it against realized moves, and shows you when implied ranges are out of line with history. The Invesco Preferred ETF expected move for this week's options is the fastest read on short-term risk, which gives you a quick way to interpret what the options market thinks about PGX.