Daily Report

Buffered Strategy Insights - February 22, 2026

Today's analysis: 2 near entry, 0 near acceleration, 8 near cap. Total 10 signals.

Eric Cerrone

— 12 min read
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HARBORSIDE - Buffered Strategy Insights - February 22, 2026
Harborside Capital
HARBORSIDE CAPITAL
Buffered Strategy Insights
February 22, 2026  •  Independent Analysis  •  Not Affiliated with Any Fund Provider
274
ETFs Analyzed
2
Near Entry
0
Near Accel.
8
Near Cap
Understanding Key Metrics
Cap Yield (Annualized)

The remaining upside potential converted to an annual percentage, for comparison to TBILLs.

Approaching Cap – Index Below

Limited upside remaining; the ETF becomes very sensitive to downside moves as it nears reset.

Approaching Cap – Index Above

Cap reached (≥90%) with the index above cap level, providing a downside cushion.

Probability

Statistical likelihood the index will be above the ETF's cap at expiry, calculated using Implied Volatility.

Priority Color Coding
Green Border   Optimal Entry Area
Yellow Border   Good Entry Area
Red Border   Approaching maximum gain levels
Filter by Provider:

🔄 Dual Direction Entry - Profit From Either Direction

Dual-direction ETFs positioned for gains in rising OR falling markets

Qualification Criteria:
Annual Dual Directional Buffered ETFs:
  • Optimal: Fund Return between -1.29% and -0.29%
    (Centered around -0.79% fee breakeven point)
  • Good: Fund Return between -2.0% to -1.30% or -0.28% to +1.0%
    (Extended downside and upside ranges)
Quarterly Dual Directional Buffered ETFs:
  • Optimal: Fund Return between -0.45% and +0.05%
    (Centered around -0.20% quarterly fee breakeven point)
  • Good: Fund Return between -0.70% to -0.46% or +0.06% to +0.30%
    (Extended downside and upside ranges)
*Dual directional buffered ETFs profit from market moves in EITHER direction*
Days:
Remaining Cap:
DDNQ   QQQ   Dual Direction 10% Buffer Quarterly ~4.39% 40 Days Until Reset
Ann. Cap Yield: ~40.1% Rem. Buffer: ~3.01% Prob > Cap: ~27%
DDNQ Innovator QQQ
Good
Dual Direction 10% Buffer
Quarterly · 40 Days Until Reset
~40.1%
Ann. Cap
Yield
~4.39%
Rem.
Cap
~3.01%
Rem.
Buffer
~27%
Prob.
> Cap

🚀 Acceleration Zone - Enhanced Returns Available

ETFs with accelerated participation (2x or 3x) in positive index moves

Qualification Criteria:
Near Starting Point (Entry Signal):
• Fund Return between -1.5% and +0.5%
• Provides 2x or 3x acceleration on positive moves
Near Threshold (Monitor Signal):
• Index from (threshold - 1%) up to 85% of maximum cap
• Enhanced returns active - approaching cap trigger
Near Cap (Exit Signal):
• Index ≥ 85% of maximum cap
• Maximum cap likely to be achieved at reset
*Leveraged participation with no downside buffer protection*
1
NEAR START
0
NEAR THRESHOLD
0
NEAR CAP

NEAR STARTING POINT

ETFs close to starting level with accelerated upside potential

Days:
Remaining Cap:
XDQQ   QQQ   2x Accelerated Quarterly ~8.96% 40 Days Until Reset
Ann. Cap Yield: ~81.8% Rem. Buffer: ~0.00% Prob > Cap: ~15%
XDQQ Innovator QQQ
Accel Zone
2x Accelerated
Quarterly · 40 Days Until Reset
~81.8%
Ann. Cap
Yield
~8.96%
Rem.
Cap
~0.00%
Rem.
Buffer
~15%
Prob.
> Cap

📈 Max Cap Proximity — Index Above Cap

ETF is Nearing Maximum Potential Return for the Outcome Period

With the underlying index currently priced above the ETF's cap level, a mathematical gap exists where the index may experience downside movement toward the cap strike without reducing the fund's current modeled return at expiration. Review the Cap Yield, Days Remaining, and specific fund data using the provided provider link.
Days:
Remaining Cap:
FFEB   SPY   10% Buffer Annual ~0.53% 1 Days Until Reset
Ann. Cap Yield: ~193% Rem. Buffer: ~8.73% Prob > Cap: >95%
FFEB First Trust SPY
Near Cap
10% Buffer
Annual · 1 Days Until Reset
~193%
Ann. Cap
Yield
~0.53%
Rem.
Cap
~8.73%
Rem.
Buffer
>95%
Prob.
> Cap
BMAR   SPY   9% Buffer Annual ~1.31% 9 Days Until Reset
Ann. Cap Yield: ~53.1% Rem. Buffer: ~8.27% Prob > Cap: >95%
BMAR Innovator SPY
Near Cap
9% Buffer
Annual · 9 Days Until Reset
~53.1%
Ann. Cap
Yield
~1.31%
Rem.
Cap
~8.27%
Rem.
Buffer
>95%
Prob.
> Cap
KMAR   IWM   15% Buffer Annual ~0.38% 9 Days Until Reset
Ann. Cap Yield: ~15.4% Rem. Buffer: ~16.24% Prob > Cap: >95%
KMAR Innovator IWM
Near Cap
15% Buffer
Annual · 9 Days Until Reset
~15.4%
Ann. Cap
Yield
~0.38%
Rem.
Cap
~16.24%
Rem.
Buffer
>95%
Prob.
> Cap
MARW   SPY   20% Buffer Annual ~0.34% 9 Days Until Reset
Ann. Cap Yield: ~13.8% Rem. Buffer: ~21.11% Prob > Cap: >95%
MARW AllianzIM SPY
Near Cap
20% Buffer
Annual · 9 Days Until Reset
~13.8%
Ann. Cap
Yield
~0.34%
Rem.
Cap
~21.11%
Rem.
Buffer
>95%
Prob.
> Cap
NMAR   QQQ   15% Buffer Annual ~0.60% 9 Days Until Reset
Ann. Cap Yield: ~24.3% Rem. Buffer: ~15.60% Prob > Cap: >95%
NMAR Innovator QQQ
Near Cap
15% Buffer
Annual · 9 Days Until Reset
~24.3%
Ann. Cap
Yield
~0.60%
Rem.
Cap
~15.60%
Rem.
Buffer
>95%
Prob.
> Cap
UMAR   SPY   30% Ultra Buffer Annual ~0.35% 9 Days Until Reset
Ann. Cap Yield: ~14.2% Rem. Buffer: ~28.72% Prob > Cap: >95%
UMAR Innovator SPY
Near Cap
30% Ultra Buffer
Annual · 9 Days Until Reset
~14.2%
Ann. Cap
Yield
~0.35%
Rem.
Cap
~28.72%
Rem.
Buffer
>95%
Prob.
> Cap
ZMAR   SPY   100% Protection Annual ~0.15% 9 Days Until Reset
Ann. Cap Yield: ~6.1% Rem. Buffer: ~92.82% Prob > Cap: >95%
ZMAR Innovator SPY
Near Cap
100% Protection
Annual · 9 Days Until Reset
~6.1%
Ann. Cap
Yield
~0.15%
Rem.
Cap
~92.82%
Rem.
Buffer
>95%
Prob.
> Cap
NAPR   QQQ   15% Buffer Annual ~0.95% 40 Days Until Reset
Ann. Cap Yield: ~8.7% Rem. Buffer: ~21.25% Prob > Cap: >95%
NAPR Innovator QQQ
Near Cap
15% Buffer
Annual · 40 Days Until Reset
~8.7%
Ann. Cap
Yield
~0.95%
Rem.
Cap
~21.25%
Rem.
Buffer
>95%
Prob.
> Cap

Important Disclosures

This material is for informational purposes only and does not constitute investment advice. Buffered ETFs involve significant risks including the potential loss of principal. Past performance does not guarantee future results.

† Data Source & Independence Notice: Data derived from publicly available ETF information and exchange prices. All calculations, analysis, and commentary are independently produced by Harborside Capital. This report is not affiliated with, endorsed by, or sponsored by Innovator ETFs, Innovator Capital Management, Goldman Sachs, or any ETF issuer. For official fund data, visit innovatoretfs.com.

For complete terms and conditions, visit: harborside.capital/disclaimer

Options Risk Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of "Characteristics and Risks of Standardized Options" available at theocc.com.

Please read the full disclaimer and risk disclosure document before making any investment decisions. Consult with a qualified financial advisor regarding your specific investment objectives and risk tolerance.

® Trademark Notice: The following are trademarks of Innovator Capital Management, LLC, its affiliates or licensors: Accelerated ETFs®, Accelerated Plus ETF®, Accelerated Return ETFs®, Barrier ETF®, Buffer ETF™, Defined Income ETF™, Defined Outcome Bond ETF®, Defined Outcome ETFs®, Defined Protection ETF®, Define Your Future®, Enhanced ETF™, Floor ETF®, Innovator ETFs®, Leading the Defined Outcome ETF Revolution™, Managed Buffer ETFs®, Managed Outcome ETFs®, Step-Up™, Step-Up ETFs®, 100% Buffer ETFs®, and Dual Directional Buffer ETFs®. All related names, logos, product and service names, designs, and slogans are the property of their respective owners.

© 2026 Harborside Capital. This report and its analysis are the independent work product of Harborside Capital. Use of trademarked terms is for identification purposes only and does not imply any affiliation with or endorsement by trademark owners.

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Rem. Cap
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Buffer
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Days Left
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Cap Yield Ann.
— View on Provider →
Modeled Outcome Profile at Expiration
Optimal
Good
Loss Zone
Before Fees
After Fees
Max Gain
~0%
% Cap Used
~0%
% Buffer Used
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Cap Yield
(Annualized)
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Note: * All values shown are after-fee (net) values.  ** Probability estimates are model-based and not predictive of future results.  All data is sourced from publicly available sources.  Not affiliated with any Fund Company.  This publication does not constitute investment advice.

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