Stock fact sheet · data as of
Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF (CPSL): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · Speculative / Distressed
Is CPSL undervalued?
At 28.45 (close of 16 Oct 2026), CPSL trades 9697% over the GLS average fair value of 0.2904, with 0 of 1 models above the price. The stock earns none of the Wheel Score's Value points at this price. That is a statement about price against trailing fundamentals, not about the company's prospects - the Wall Street View and the Growth tab on the Quote page carry the forward numbers.
Only 1 of the nine models produced a value (10 Cap); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files CPSL under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for CPSL
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 0.2904 | -99% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -0.4895 | -102% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: CPSL passes 3 of the nine Piotroski tests. Our screens drop the stock at the health rule; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 0.7 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are high - ROIC 118.7%, ROE 87.8%, ROA -2269.9% - with debt at -0.26 times equity and negative free cash flow.
Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain.
Institutional ownership scores 1/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | 118.7% |
|---|---|---|---|
| GLS Moat | 0.7 / 10 | ROE | 87.8% |
| Debt / equity | -0.26 | ROA | -2269.9% |
| Free-cash-flow yield | -0.1% | Payout ratio | 0% |
| Institutions | 1 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 14: No options
CPSL has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business; the Wheel Score is capped at 39 and shown as "No options" (14 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 26k shares a day on a market cap of $159M, with a beta of 0.17 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 6 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -9697% margin of safety | |
| Health | 7 / 20 | Piotroski 3/9 | |
| Moat | 1 / 15 | moat 0.7/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 6 / 20 | 26k shares/day, $159M cap, beta 0.17 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for CPSL in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
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|---|---|---|---|---|---|
| ARCFX Water Island Credit Opportunities Fund Retail Class | 9.81 | 42.23 | +77% | 39No options | $159M |
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| WHF WhiteHorse Finance, Inc. | 7.40 | 19.24 | +62% | 71Good | $159M |
| DHF BNY Mellon High Yield Strategies Fund | 2.19 | 4.94 | +56% | 39No options | $159M |
| WAMFX Boston Trust Walden Midcap Fund | 24.61 | 12.86 | -91% | 22No options | $157M |
| FLOWX Fidelity Water Sustainability Fund | 18.68 | 564.53 | +97% | 39No options | $157M |
| NESIX Needham Small Cap Growth Institutional | 30.08 | 49.27 | +39% | 39No options | $161M |
| ECF Ellsworth Growth and Income Fund Ltd. | 11.80 | 76.61 | +85% | 39No options | $161M |
| FLC Flaherty & Crumrine Total Return Fund Inc. | 15.54 | 33.35 | +53% | 39No options | $162M |
| FHAYX Fidelity Freedom Blend 2010 Fund | 11.11 | 21.11 | +47% | 39No options | $164M |
| GF The New Germany Fund, Inc. | 10.22 | 4.18 | -145% | 20No options | $165M |
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Start free See the Sunday ScanQuestions about CPSL
Is CPSL undervalued right now?
No: at 28.45 the stock trades 9697% above the GLS average fair value of 0.2904 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of CPSL and what does it mean?
CPSL has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for CPSL?
0.2904 per share as of 16 Oct 2026 - the simple average of the 1 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Calamos ETF Trust - Laddered S&P 500 Structured Alt Protection ETF report earnings next?
No upcoming earnings date is recorded for CPSL in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does CPSL have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on CPSL, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.