(CPSA) Calamos SP500 Structured - Ratings and Ratios

The Calamos S&P 500 Structured Alt Protection ETF - August (NYSE ARCA:CPSA) is designed to provide structured outcomes by leveraging FLEX (Flexible Exchange) Options. These options are tied to the performance of the SPDR® S&P 500® ETF Trust, allowing the fund to offer a defined investment outcome. The funds strategy focuses on capital protection and growth opportunities during specific time frames, aligning with risk-managed exposure to the S&P 500. CPSA is structured as a non-diversified fund, meaning it can concentrate its investments in a limited number of securities or strategies, which may amplify both potential returns and risks.

CPSAs investment approach centers on FLEX Options, which are customizable derivative contracts. These options are tailored to meet specific risk-return profiles, enabling the fund to target predefined outcomes such as capital appreciation or income generation. By referencing the SPDR® S&P 500® ETF Trust, CPSA indirectly tracks the performance of the S&P 500, providing exposure to 500 of the largest publicly traded companies in the U.S. This structure allows the fund to combine the liquidity of ETFs with the precision of options strategies, offering a unique risk-adjusted investment vehicle for investors seeking structured outcomes.

From a technical perspective, CPSA exhibits a stable price pattern, with a 20-day average volume of 3,765 shares. The funds last price of $25.06 is slightly below its 20-day SMA of $25.30 but aligns closely with its 50-day SMA of $25.24. The 200-day SMA of $24.93 indicates a gradual upward trend over the longer term. The Average True Range (ATR) of 0.07 reflects low price volatility, suggesting a stable trading environment. These metrics collectively point to a fund with consistent performance and limited price fluctuations.

Fundamentally, CPSA manages assets under management (AUM) of $40.31 million, positioning it as a niche ETF within the defined outcome category. Its structured approach to the S&P 500 offers a differentiated strategy for investors seeking to balance growth and protection within their equity allocations. The funds focus on FLEX Options underscores its commitment to delivering precise investment outcomes, making it a targeted solution for risk-conscious investors.

### 3-Month Forecast Technical Outlook: - The funds price is expected to remain within a narrow range, bounded by the 20-day SMA ($25.30) and the 200-day SMA ($24.93), reflecting continued stability. - The low ATR of 0.07 suggests minimal price fluctuations, with upside potential capped by resistance levels near $25.50 and downside support at $24.80. Fundamental Outlook: - AUM growth will depend on investor demand for structured equity solutions, with modest inflows expected due to the funds niche strategy. - The funds performance will closely track the S&P 500, with potential outperformance during periods of market volatility due to its protective features.