ProShares MSCI Transformational Changes ETF (ANEW) Straddle

Trading a ANEW straddle lets you take a pure volatility position on ProShares MSCI Transformational Changes ETF without committing to a direction. ProShares MSCI Transformational Changes ETF's straddle involves buying (or selling) a call and a put at the same strike and expiration, profiting when the stock moves more (or less) than the combined premium implies. Use our scanner to evaluate ANEW straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on ANEW profits from large moves in either direction and is a classic play into binary events like earnings, product announcements, or macro releases. A short straddle profits when ProShares MSCI Transformational Changes ETF stays range-bound and implied volatility contracts. The breakeven points are simple: strike plus total premium on the upside, strike minus total premium on the downside. Comparing the ANEW straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The index selects companies which may benefit from transformational changes in how people work, take care of their health, and consume and connect ("Transformational Changes") - changes accelerated by COVID-19. The fund will generally use a “replication strategy” to achieve its investment objective, meaning that it will invest in all of the component securities of the index in approximately the same proportion as the index.

Earnings, product cycles, macro prints — any time volatility itself is the trade, the ANEW straddle is the cleanest expression of that view. Our scanner prices every ANEW straddle against historical realized moves, flags expirations where the market is overpaying or underpaying for vol, and ranks setups by breakeven width and IV rank. Whether you're long a ANEW straddle into a catalyst or short a ANEW straddle to harvest decay, the options straddle setups that matter are all in one place.