Black Stone Minerals LP (BSM) Straddle

Trading a BSM straddle lets you take a pure volatility position on Black Stone Minerals LP without committing to a direction. Black Stone Minerals LP'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 BSM straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on BSM 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 Black Stone Minerals LP 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 BSM straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.7 million gross acres located in 41 states in the United States. As of December 31, 2021, the company had a total estimated proved oil and natural gas reserves of 59,824 barrels of oil equivalent. Black Stone Minerals, L.P. was founded in 1876 and is based in Houston, Texas.

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