SPDR Enhanced Roll Yield Commodity (CERY) Straddle

Trading a CERY straddle lets you take a pure volatility position on SPDR Enhanced Roll Yield Commodity without committing to a direction. SPDR Enhanced Roll Yield Commodity'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 CERY straddle pricing in real time and find the moments when expected moves are mispriced.

A long straddle on CERY 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 SPDR Enhanced Roll Yield Commodity 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 CERY straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.

The State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Bloomberg Enhanced Roll Yield Total Return Index (the “Index”)The Index is designed to measure the performance of a rules-based, liquid and long-only exposure to the broad commodities market through synthetic positions in futures contracts featuring diversification constraints and tilting toward commodities that may have a downward sloping futures curve and greater liquidityCERY may potentially reduce the costs associated with rolling over commodity futures contracts while providing the potential diversification and inflation-hedging benefits of commodities to core portfolios

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