CM30 minus CM90. NEGATIVE IS CONTANGO - the normal upward-sloping curve, where longer-dated vol is dearer. POSITIVE IS BACKWARDATION: the near term is bid above the far, which is what stress looks like. Measured across the Core 40, 40.9% of symbol-days are backwardated, so this is not a rare state and a flag keyed to it alone would fire constantly.
Rank and percentile disagree by 26 points. rank 34% sits far below percentile 60%, both over the trailing year: one violent spike stretched the range, so this reading looks low against the high while being high against almost every other reading in it
41 of 41 with a reading on or before 2026-10-02. Each row is that name against its own history — core.metric_context(), one query for all of them — not a rank among them.
2025-09-25251 obs2026-10-02
| +0.6 pts |
| 81.8% | 82.3% | 73.8% | 1.06 |
| 251 |
| XLY | +0.4 pts | 81.4% | 81.9% | 67.9% | 0.81 | 251 |
| INTC | +6.5 pts | 79.6% | 77.7% | 66.7% | 1.17 | 251 |
| XLV | +0.2 pts | 75.9% | 76.1% | 67.1% | 0.67 | 251 |
| GOOG | +2.6 pts | 75.7% | 74.7% | 71.5% | 1.75 | 251 |
| MSFT | +3.8 pts | 74.7% | 75.3% | 72.0% | 1.67 | 251 |
| STX | +5.1 pts | 70.8% | 70.7% | 59.9% | 0.66 | 251 |
| META | +4.6 pts | 70.0% | 69.9% | 74.2% | 1.90 | 251 |
| AMZN | +4.6 pts | 69.0% | 69.7% | 74.9% | 2.30 | 251 |
| LMT | +1.7 pts | 68.2% | 66.5% | 56.0% | 0.58 | 251 |
| AAPL | +0.6 pts | 68.0% | 67.5% | 63.4% | 1.09 | 251 |
| WDC | +2.6 pts | 63.1% | 62.4% | 53.9% | 0.35 | 251 |
| SNDK | +3.1 pts | 60.0% | 60.6% | 33.5% | 0.49 | 251 |
| XLI | -0.3 pts | 58.4% | 59.2% | 46.8% | 0.25 | 251 |
| XLE | +0.3 pts | 57.3% | 58.4% | 45.6% | 0.19 | 251 |
| CRSR | +0.2 pts | 53.3% | 52.8% | 45.5% | 0.07 | 249 |
| PLTR | -3.8 pts | 52.2% | 53.4% | 34.8% | 0.07 | 251 |
| DIA | -0.9 pts | 51.6% | 51.0% | 40.7% | 0.00 | 251 |
| XLF | -0.8 pts | 50.8% | 50.8% | 37.9% | 0.00 | 251 |
| SPY | -1.3 pts | 49.4% | 49.8% | 32.1% | 0.00 | 251 |
| IWM | -0.6 pts | 48.8% | 49.2% | 36.1% | 0.00 | 251 |
| SPCX | -2.2 pts | 46.7% | 46.7% | 13.6% | -0.26 | 76 |
| ORCL | -3.6 pts | 45.3% | 44.2% | 23.3% | -0.24 | 251 |
| AMD | -1.8 pts | 43.5% | 44.0% | 31.3% | -0.15 | 251 |
| SOXX | -0.8 pts | 34.9% | 34.1% | 49.7% | -0.52 | 251 |
| XLP | -0.7 pts | 34.1% | 34.9% | 41.5% | -0.40 | 251 |
| XOM | -0.6 pts | 32.7% | 32.7% | 32.4% | -0.43 | 251 |
| QQQ | -1.5 pts | 29.8% | 30.1% | 31.4% | -0.51 | 251 |
| MRVL | -2.6 pts | 27.6% | 28.9% | 24.6% | -0.39 | 251 |
| MU | -1.8 pts | 27.1% | 28.1% | 37.9% | -0.60 | 251 |
| DE | -2.7 pts | 24.3% | 25.3% | 27.3% | -0.46 | 251 |
| SMH | -2.2 pts | 19.6% | 19.1% | 33.3% | -1.07 | 251 |
| XLK | -2.2 pts | 18.8% | 18.9% | 26.0% | -0.88 | 251 |
| NVDA | -4.9 pts | 18.6% | 18.5% | 28.3% | -0.62 | 251 |
| AVGO | -5.0 pts | 14.9% | 14.9% | 20.2% | -0.62 | 251 |
| PANW | -6.2 pts | 8.8% | 9.0% | 9.9% | -0.90 | 251 |
| DELL | -5.9 pts | 6.5% | 6.4% | 9.5% | -0.84 | 251 |
| CRWD | -7.2 pts | 3.1% | 3.0% | 9.6% | -1.10 | 251 |
| RSP | -2.1 pts | insufficient data (n=6) | insufficient data (n=6) | insufficient data (n=6) | insufficient data (n=6) | 6 |
| TSM | -2.4 pts | insufficient data (n=2) | insufficient data (n=2) | insufficient data (n=2) | insufficient data (n=2) | 2 |
