Schwab Trading Activity Index™: STAX Score Reaches a Four-Year High in June

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The Schwab Trading Activity Index™ (STAX) increased to 59.12 in June, up 7.33% from its score of 55.08 in May. The only index of its kind, the STAX is a proprietary, behavior-based index that analyzes retail investor stock positions and trading activity from Schwab’s millions of client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260706048447/en/Schwab Trading Activity Index June 2026 (Graphic: Charles Schwab) “Though major market averages retreated slightly from recent all-time highs in June, closing the month with minor losses, there was no ‘June swoon’ to be found among Schwab clients,” said Joe Mazzola, Head Trading and Derivatives Strategist at Charles Schwab. “After retreating slightly in the first week of June, the STAX rose every subsequent week of the month, and net buys outpaced net sells by more than two-to-one.” The STAX score rose roughly four points in June, hitting a new multi-year high. Retail investors continued to buy the dip, and the heaviest buying coincided with the mid-month market pullbacks during the weeks ended June 12 and 19. Economic data in June was familiar, with inflation ticking higher and jobs holding steady, and the Federal Reserve remained hawkish in Chairman Kevin Warsh’s debut. At the end of May, the CME FedWatch Tool reflected a 50% chance for a rate hike later this year, and by June those odds shifted to nearly 83%. Client options activity was mixed in June, with net buying seen on popular broad-based index and ETF options as well as single-stock names. Elsewhere, options-trading clients appeared to take advantage of dispersion between index and single-stock volatility by selling elevated implied volatility. For some single-stock names, put selling outweighed call selling, suggesting a neutral-to-bullish market bias among those looking to generate income through short options strategies. At the sector level, Information Technology again topped the net-buy list in June, followed by Communication Services and Consumer Discretionary. The top five buys were all components of these three sectors. Though selling activity was light, the other eight sectors were net-sold with Financials, Health Care and Consumer Staples bringing up the rear. From a ge...

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