Codexis Inc (CDXS) Straddle

Trading a CDXS straddle lets you take a pure volatility position on Codexis Inc without committing to a direction. Codexis Inc'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 CDXS straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on CDXS 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 Codexis Inc 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 CDXS straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

Codexis, Inc. discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver protein engineering technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.

The company's platform is also used to discover novel biotherapeutic drug candidates for targeted human diseases, as well as for molecular biology and in vitro diagnostic enzymes. It sells its products to pharmaceutical manufacturers through its direct sales and business development force in the United States and Europe. The company was incorporated in 2002 and is headquartered in Redwood City, California.

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