(BNOV) Innovator SP500 Buffer - - Ratings and Ratios

The Innovator S&P 500 Buffer ETF - November (BNOV) is a defined outcome ETF that seeks to provide returns based on the performance of the S&P 500, with built-in downside protection. The fund invests at least 80% of its net assets in FLEX Options, which are customizable exchange-traded option contracts referencing the SPDR® S&P 500® ETF Trust (SPY). These FLEX Options are designed to provide a buffer against losses, typically capping downside exposure while offering upside participation up to a predetermined cap. The fund is structured to reset annually, with the November series expiring in November of each year.

FLEX Options are exchange-traded contracts with unique terms, including customizable strike prices, expiration dates, and underlying assets. While they are guaranteed for settlement by the Options Clearing Corporation (OCC), they are subject to counterparty risk with the OCC and may exhibit lower liquidity compared to traditional exchange-traded options. The fund is non-diversified, meaning it can concentrate its investments in a smaller number of securities, which may increase risk.

As of the latest data, BNOV has an average daily trading volume of 20,661 shares, with a last price of $39.27. The funds assets under management (AUM) total $173.80 million, indicating moderate scale and liquidity. Its technical indicators show a short-term SMA (20-day) of $40.02, slightly above its current price, while the SMA 50 and SMA 200 are $39.79 and $38.46, respectively. The ATR (Average True Range) of 0.29 reflects relatively low volatility in recent trading.

3-Month Forecast: - Technical Outlook: BNOVs price is currently below its 20-day SMA but above its 50-day and 200-day SMAs, suggesting a neutral to slightly bullish near-term outlook. The low ATR of 0.29 indicates tight price ranges, with potential resistance near $40.50 and support around $38.50. - Fundamental Outlook: The funds AUM of $173.80 million provides moderate liquidity, which may support stability in the face of market volatility. The S&P 500s performance will remain a key driver of returns, with the funds FLEX Options structure aiming to mitigate downside risk while capping upside potential. Expect the fund to trade within a narrow range, with limited upside but defined downside protection.