Bicycle Therapeutics Plc ADR (BCYC) Straddle

Trading a BCYC straddle lets you take a pure volatility position on Bicycle Therapeutics Plc ADR without committing to a direction. Bicycle Therapeutics Plc ADR'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 BCYC straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on BCYC 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 Bicycle Therapeutics Plc ADR 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 BCYC straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease. The company's oncology product candidates also comprise BT5528, a BTC that is in a Phase I/II clinical trial targeting EphA2; and BT8009, which is in Phase I/II clinical trial targeting Nectin-4. In addition, it is developing THR-149, a plasma kallikrein inhibitor that completed Phase II clinical trials for the treatment of diabetic macular edema; BT7480, a Bicycle tumor-targeted immune cell agonist (TICA) targeting Nectin-4 and agonizing; BT7455, an EphA2/CD137 Bicycle TICA, which is in preclinical studies; and BT1718, a BTC that target tumors, that is in Phase I/IIa clinical trial that express Membrane Type 1 matrix metalloproteinase.

Further, the company collaborates with biopharmaceutical companies and organizations to develop programs in therapeutic areas, such as anti-infective, cardiovascular, ophthalmology, and respiratory indications. It has a clinical trial and license agreement with the Cancer Research Technology Limited and Cancer Research UK; research collaboration agreements with AstraZeneca, Sanofi, Oxurion, and the Dementia Discovery Fund; and discovery collaboration and license agreement with Genentech for the discovery and development of Bicycle peptides for multiple immuno-oncology targets. Bicycle Therapeutics plc was incorporated in 2009 and is headquartered in Cambridge, the United Kingdom.

Earnings, product cycles, macro prints — any time volatility itself is the trade, the BCYC straddle is the cleanest expression of that view. Our scanner prices every BCYC 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 BCYC straddle into a catalyst or short a BCYC straddle to harvest decay, the options straddle setups that matter are all in one place.